MetaTrader 4 is unarguably the platform that revolutionised retail forex trading. It is a reliable third-party trading software that comes with a wide range of features designed to simplify the forex trading process. Some of the main features of this platform include:. Forex Brokers Offering MetaTrader MetaTrader 5. MetaTrader 5 is the successor of the MetaTrader 4 platform. However, this is only in name as the MetaTrader 4 remains the most widely used in the retail forex trading space.

This platform retains all the best features of its predecessors and comes with some additional improvement. Forex Brokers Offering MetaTrader 5. cTrader was the first real challenger for MetaTrader 4. Since its launch, it has slowly become one of the top-rated online trading platforms. Many brokers include it in their offerings these days. Forex Brokers Offering cTrader. NinjaTrader is one of the oldest platforms in the retail forex trading world. It is also based on the C programming language.

Forex Brokers Offering NinjaTrader:. Here are some points that can help you to make the right decisions every time:. Your Trading Strategy. Do you have automated trading strategies? Are you a manual trader that makes use of special trading software?

The best online trading platform for you will be one that supports your strategy. Similarly, if your trading strategy is dependent on the speed of execution, then lightweight platforms that can process orders in milliseconds are the best for you.

Most of these platforms allow a demo account. Put this to good use before you create your live account. Your Level of Experience. If you are not highly-experienced, using simple platforms like the Mitrade proprietary software may be better for you. Such platforms only contain the most important features, thus saving you from the confusion that can derail your trading results. Other Broker-Related Features. FCA and ASIC regulated brokers are generally the most trustworthy.

If the broker ticks all the right boxes, you can choose the platform. The best online forex trading platform will vary from one trader to another. However, it is important that you spend as much time as possible on the selection process to avoid making a potentially costly mistake. What is the best online forex trading platform for Australian traders?

There is no specific best online trading platform for traders in Australia. Some of the popular brokers in Australia with an ASIC license include IG, Pepperstone, ThinkMarkets, ICmarket, CMC, vantageFX, AxiTrader, FXCM, Mitrade, and more. Which online trading platform is best for new traders?

Most new traders may benefit strongly by using proprietary trading platforms that are simple to understand. What are the leading cryptocurrency trading platform options?

You can trade all the major cryptocurrencies including Bitcoin, Ethereum and Litecoin. The content presented above, whether from a third party or not, is considered as general advice only.

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But forex trading is nothing if you cannot plan your next move. To that end, Plus offers tons of tools for helping you compare how foreign currencies are doing and predict where they are going.

These tools include graphing and mathematical analysis tools, as well as research articles on current market trends. The most obvious issue that Plus has is also its greatest strength: Its size. This many foreign currency pairs means you can manoeuvre any trade into being beneficial to you. The problem with that is that it takes a high level of understanding of the industry in order to actually do that.

Granted, the platform does offer you tools to that end. Where Pepperstone stands out is in lowest rates. This makes it one of the most regulated brokers in the world, with no commission fees and superb customer support. cTrader is better for experienced traders seeking the sharpest insights. MetaTrader 4 and 5 give you access to more than 61 different forex markets, including crypto, currency indices, commodities, and shares. While Pepperstone is very customisable and offers many of the same features that eToro does, its social trading is not as nearly as intuitive.

Verdict 🤔 : A great option if you want to grow into your chosen forex broker platform. Its vast forex trading community that lets you connect with and learn from experienced traders… However, expect a steeper learning curve. There are many ways of trading forex, but most of them have come into existence in the last five to ten years. This is because online trading has revolutionized how foreign currency is traded in many ways. However, the foreign currency trade is far older than the internet that currently hosts it.

That means underneath all of the different layers of techniques and strategies, there are fundamentals to foreign currency trade that are unchanging. Vanilla trading is what AvaTrader focuses on. It is the original way that foreign currency was bought in sold, back when the market was made completely out of paper without a computer in sight.

When vanilla trading, you are identifying a currency you would like to buy or sell, and then contacting a buyer or seller to see it moved for a designated price. It is that simple. These currency pairs ensure that every buyer has a seller, and ever seller a buyer, no matter what. That is what vanilla trading offers: Convenience. And AvaTrade provides that by organizing the market, removing the fees that would slow down your trades, and getting rid of accessory tools from its app.

Of course, this can make it feel bare and simple to people used to more complex ways of trading forex. But given the reliability of AvaTrade, and its variety of other trading tools, most people are going to want to get started with something simple rather than try to figure out a feature heavy app.

But like Pepperstone, IG Markets stands out for low rates. As the name suggests, with IG markets you also get enormous access to the markets, with over 16, markets available.. For instance, their currency pairs are divided into six categories: Majors, Minors, Australasian, Scandinavian, Emerging Markets, and Exotic.

while US visitors can only trade forex with IG—Australians can use IG to trade cryptocurrency, forex, stock sectors, separate equities, and commodities. Learning how to trade is a serious enterprise. Compared to eToro, their Educational Academy is more in-depth , with better gradations for different experience levels. If you want a system that you can set up today in a matter of minutes and begin investing money, this is not the one for you. The minimum deposit is also slightly higher. Verdict 🤔 : Probably best suited for traders who want to spend time learning to invest, already have a strategy, or who are intermediate-level beginners small traders and new market pros.

On the other hand, they have an enormous amount of trust with the various regulatory bodies across the world. Their Tier-1 licence authorisations: Australia ASIC to Canada IIROC , Hong Kong SFC , Japan FSA , Singapore MAS , Switzerland FINMA , UK FCA and U. Like eToro, they use their own proprietary software—and this is part of the reason why their desktop and web platforms are so user-friendly.

Their tools and analytics are advanced at the upper levels—trade from the chart, create watchlists and alerts, and do virtual trading. There are limited ways to fund your account, however. But there is also no minimum deposit. This is one trusted way to begin trading even if you have a dollar in your account. On the other, there is no minimum deposit to begin trading.

And you can invest in international big-name shares for little-to-nothing—via fractional shares. Sure, it offers very powerful charting features—but these are probably not useful for beginners. There may also be our monthly fee, plus commissions for non-high-frequency traders. Available on different devices, get easy access to reports, fast trading, and a dashboard with real-time updates.

One unusual feature is a tax liabilities tracker. Taxes can be complicated when trading. Superhero tracks this for you based on your account balance and activities—potentially saving an enormous amount of time at the end of the tax year 🗓️. Tax reporting is expressly gruelling for new investors, all of the guesswork is taken out as reports are included directly on the platform—with transparent fees. You can start trading in Australian and U. shares today, in a matter of minutes.

If you want to get some money invested today with minimal hassle, this is a good choice to consider. Publicly traded company regulated by numerous tier-1 jurisdictions that includes ASIC.

CMC is considered a trustworthy Forex and CFD broker. There is no minimum deposit needed, nor are there withdrawal or deposit fees. Although international brokerage fees are high, they have among the lowest brokerage fees for every other type. Despite their reputation, account creation is simple. There are tons of trading options. Deal in base currencies using all major debit and credit cards.

This includes the Australian dollar, US dollar, and British pound. And fund your account using major debit and credit cards, or e-wallets like PayPal or Skrill. Whether for desktop or mobile, process different order types including stops, limits, and even trailing stop losses. There are more advanced order types available. The customer service team is responsive. Their Guaranteed Stop-Loss Order GSL feature means that you can apply risk thresholds to all of your positions, guaranteeing that trades will close precisely as you specify.

Most brokers charge for GSLOs, CMC markets refunds you this costs. There is access to pattern recognition as well as social trading tools, although you have to directly copy your selected trader. Also get access to a good range of educational resources and tools to help you learn about forex and CFDs. com is a publicly traded company that has been around since —with four 1 jurisdictions, including ASIC. Access a range of assets including crypto currency, CFDs, stocks, and currency pairs.

Although they push you towards higher cost services, base costs are competitive at volume spreads. This is the most beneficial for active forex traders. With strong regulatory licences, they have accrued more than a 40, clients.

US residents are also banned from doing CFD trades. Choose from their proprietary platform MetaTrader 4 or 5 the younger version, MT5 this recommended however, because there are fewer investment offerings available. com gives you dealer execution , which means third parties are never relied on to make trades. This gives you higher quality trades. This demo account, however this is limited to 30 days, letting you test-run the platform before committing.

Verdict 🤓: Get access to a plethora of third-party research, which includes a headline stream from Reuters, an economic diary, plus a weekly webinar. This will give you more context before starting your new journey:. But the barter system itself is the oldest method for exchanging value, introduced from around BC by Mesopotamian tribes who would exchange goods for other goods. The process evolved further, when special goods like spices and salt became popular mediums for exchange.

In fact, this was the beginning of foreign exchange, where ships would sail in order to barter for these goods.. Why gold? Like currencies today, and even salts and spices, they had several key characteristics including durability, divisibility, limited supply, acceptability, portability and relative uniformity.

However, gold is heavy. So, in the s, countries accepted the gold standard. This meant that their governments would redeem any paper money for its equivalent value in gold. After hyperinflation during World War I, the gold standard was suspended in order to print more money to pay for the war.

This was finally transformed by the formation of the internet and internet trading in the s.. Money trading became more sophisticated and faster than ever. This changed the way people viewed things. Someone sitting at home could bid and view on currency prices, which also opened emerging markets under totalitarian political systems. This is a very barebones rendition of events but should give you an idea of how the forex formed. As mentioned in our short history lesson, foreign exchange began with bartering for salts and spices, in order to use them as the standard medium of value exchange.

Ships would sail to new lands in order to obtain these commodities. Today, at a login , this exchange is available online—their fluctuating values can be viewed at real-time on the forex exchange.

The value can also be agreed on, depending on the rate that people are willing to bid and sell currencies for. Exchange rates are paired. Currencies trade against each other, to establish value. This becomes much more speculative when derivative markets are factored in, such as forwards, futures, options, and currency swaps. This gives the market many different functions, from simply investing in a different currency for a more diverse portfolio , to speculating on geopolitical occurrences.

At the most practical level, the foreign exchange market forex is where currencies get traded. This is important because counties enable purchase of services and goods locally and across borders. For business and foreign trades, international currencies need to be swapped. If you are living in Australia and want to buy wine from Italy, then either you or the company from which you purchased the wine will need to pay the Italians for that wine in euros EUR. This means that the U. importer will need to exchange equivalent value of Australian dollars AUD into euros.

The tourist needs to swap their Australian dollars for the local currency, in this case euros, at the current exchange rate. The forex international market is unique in that there is no one marketplace for foreign exchange. Instead, this trading is electronic, done over-the-counter OTC. Every transaction happens through computer networks between traders across the world, instead of through one central exchange.

The markets open 24 hours a day, 5. Trades happen across every time zone. Once the US trading day closes, the forex market starts anew in Hong Kong and Tokyo. Whatever the time of day therefore, the forex market can be extremely active, with valuations constantly fluctuating.

Top forex brokers for beginners provide optimal access. Different forex trading apps have their own combination of strengths and weaknesses, but the best forex platforms for beginners typically have the following three characteristics:. This can be trickier on mobile platforms, because they have less processing power than desktop computers—and a resulting lag or even a crash midway in a trade.

You should test out your forex trading app with a few small sample trades before you commit to the platform. Advanced tracking and analytics in forex trading apps let you dig into what the best currencies to purchase or sell that day are. Some apps help you to choose currencies to invest in more than others do.

Set up alerts for currencies when they hit a price threshold, compare with historical data to better inform your decision, and get notified of opportunities. Good investors never guess with their money! A beginner needs to get up to scratch with the foundations. And in a fast-changing market, especially with new types of assets like crypto, getting updates on new opportunities is invaluable. Knowledge is power. The Privacy Australia team would overall recommend that new traders follow mentors.

Having too many different sources can lead to an incoherent strategy. Your forex trading app should not only be useful for beginners but also for intermediates and experts. As you grow into investing, and begin to get your feet, you see yourself needing to migrate to a more sophisticated app with more advanced features. Likewise, an application that walks you from stage 1 of your journey is more valuable than an app that over-impress you with loony charts and industry babble. The best brokers for beginners today grasp the fact that, due to the digitalisation of currencies, beginners are taking trading more seriously than ever before.

Although the spread is often only a small fraction of one unit of the currency you are training, active traders who do high-frequency may end up with a substantial percentage of their earnings bitten into by commissions and fees. Part of astute trading is holding on to as much of your earnings as is possible! Indeed, the value of anything is largely to do with the scarcity versus perceived use of that thing.

Humans need food and so food is very important to us. Which is why shopping at Whole Foods costs more than Aldi. Likewise, Crypto may lead to far greater interest rates from savings than an Australian Superannuation Fund might offer. The best forex brokers let newbies access crypto markets. Simply, compared to traditional finance, crypto is a new innovation in its infant years.

But it has potentially immense uses that make it valuable. And the different coins inherently provide limits on how much you can hold for instance, a big single Bitcoin coin is divisible multiple times over. As mentioned in the introduction, the pandemic proved how important remote work is across the world.

With potentially yearly at the beginning of a second digital age. The more that people buy into crypto, the more its value will solidify. As the wheels of this infrastructure begin to move, this may become more extreme.

So investing a little now may provide significant dividends later on. Of course this is all speculation, so always be wary. Cryptocurrency is digital cash. As we mentioned in the history section the traditional finance, Once upon a time sort was used as a medium of bartering—before gold coins replaced it.

Disclosure: Privacy Australia is community-supported. We may earn a commission when you buy a VPN through one of our links. Learn more. An international pandemic that shut down the economy, a boom in remote work and delivery industries, the explosion of crypto as a real currency. In times of great flux, there is a real opportunity for regular people to jump from one class to another. Avoid fantasies. Whatever you do, always treat trading in speculative assets as a risk.

There are plenty of success stories where people make heaps of money, such as Glauber, who became a millionaire in two months. Every broker on this list has a world-class reputation for security and regulatory oversight. For instance, to trade forex in Australia , you need to use a forex broker with operational rights. This can only be granted by the regulatory authority Australian Securities and Investment Commission or ASIC, which is the regulatory authority for Australian financial markets.

From there, we amalgamate top-performing names — with an eye on fees and ease of use — and rank order it. This review article will help you to choose your best beginner Forex platform. eToro AUS Capital Ltd ACN AFSL OTC Derivatives are speculative and leveraged. Capital is at risk. See PDS. With competitive features for beginner to intermediate trader levels , depending on asset types needed. It is so well-regulated that the US has allowed it to operate.

The US is notoriously stringent with forex brokers. There are more than 13 million users worldwide. And the user interface is extremely friendly and well-designed. Add to that—a Goliath of educational resources that are incredibly well organised.

Run through video courses investing, trading, crypto, eToro, and investing—from start to finish. There are beginner and advanced intermediate levels. And searchable individual topics that range in format from guides to videos, podcasts, and webinars. Beginner forex platform? If you are looking for MetaTrader or cTrader, this is not a good option.

eToro stands out as the best social trading platform around. Its copy-trading feature is second-to-none. Because its proprietary system has been designed from the ground-up for beginners and intermediates, you will be hard stretched to find a faster passive trading solution. Realistically, most people will not put the time into the master training. So this is a no-nonsense, astute way of investing extra cash as both quickly and astutely as possible. Verdict 🤔: A great option if you want to grow into your chosen forex broker platform.

Use the various insight tools to help you sniff out trading opportunities and tune strategies. With a vast forex trading community that lets you connect with and learn from experienced traders. CFDs are a leveraged product and can result in the loss of your entire balance. Trading CFDs may not be suitable for you. Please ensure you fully understand the risks involved. The crux of foreign currency trading is diversity and maneuverability.

You cannot maximize the value of your forex portfolio if you are stuck trading the same foreign currency pair over and over again. That will just leave you stuck holding a currency that is worth nothing to you. Instead, you have to stay moving. But what does that mean? Well, the developers of Plus know the answer to that: Whereas most forex trading platforms keep their currency pairings limited by necessity, Plus goes big.

They accomplish this by connecting to tons of different economies across the whole world. Trade pounds for yen, yen for dollars, and dollars for pesos if you think it will make you more money than just trading pounds for pesos.

But forex trading is nothing if you cannot plan your next move. To that end, Plus offers tons of tools for helping you compare how foreign currencies are doing and predict where they are going. These tools include graphing and mathematical analysis tools, as well as research articles on current market trends. The most obvious issue that Plus has is also its greatest strength: Its size.

This many foreign currency pairs means you can manoeuvre any trade into being beneficial to you. The problem with that is that it takes a high level of understanding of the industry in order to actually do that.

Granted, the platform does offer you tools to that end. Where Pepperstone stands out is in lowest rates. This makes it one of the most regulated brokers in the world, with no commission fees and superb customer support. cTrader is better for experienced traders seeking the sharpest insights.

MetaTrader 4 and 5 give you access to more than 61 different forex markets, including crypto, currency indices, commodities, and shares. While Pepperstone is very customisable and offers many of the same features that eToro does, its social trading is not as nearly as intuitive.

Verdict 🤔 : A great option if you want to grow into your chosen forex broker platform. Its vast forex trading community that lets you connect with and learn from experienced traders… However, expect a steeper learning curve. There are many ways of trading forex, but most of them have come into existence in the last five to ten years. This is because online trading has revolutionized how foreign currency is traded in many ways.

However, the foreign currency trade is far older than the internet that currently hosts it. That means underneath all of the different layers of techniques and strategies, there are fundamentals to foreign currency trade that are unchanging. Vanilla trading is what AvaTrader focuses on. It is the original way that foreign currency was bought in sold, back when the market was made completely out of paper without a computer in sight.

When vanilla trading, you are identifying a currency you would like to buy or sell, and then contacting a buyer or seller to see it moved for a designated price. It is that simple. These currency pairs ensure that every buyer has a seller, and ever seller a buyer, no matter what. That is what vanilla trading offers: Convenience. And AvaTrade provides that by organizing the market, removing the fees that would slow down your trades, and getting rid of accessory tools from its app.

Of course, this can make it feel bare and simple to people used to more complex ways of trading forex. But given the reliability of AvaTrade, and its variety of other trading tools, most people are going to want to get started with something simple rather than try to figure out a feature heavy app.

But like Pepperstone, IG Markets stands out for low rates. As the name suggests, with IG markets you also get enormous access to the markets, with over 16, markets available..

For instance, their currency pairs are divided into six categories: Majors, Minors, Australasian, Scandinavian, Emerging Markets, and Exotic. while US visitors can only trade forex with IG—Australians can use IG to trade cryptocurrency, forex, stock sectors, separate equities, and commodities. Learning how to trade is a serious enterprise. Compared to eToro, their Educational Academy is more in-depth , with better gradations for different experience levels.

If you want a system that you can set up today in a matter of minutes and begin investing money, this is not the one for you. The minimum deposit is also slightly higher. Verdict 🤔 : Probably best suited for traders who want to spend time learning to invest, already have a strategy, or who are intermediate-level beginners small traders and new market pros. On the other hand, they have an enormous amount of trust with the various regulatory bodies across the world.

Their Tier-1 licence authorisations: Australia ASIC to Canada IIROC , Hong Kong SFC , Japan FSA , Singapore MAS , Switzerland FINMA , UK FCA and U. Like eToro, they use their own proprietary software—and this is part of the reason why their desktop and web platforms are so user-friendly. Their tools and analytics are advanced at the upper levels—trade from the chart, create watchlists and alerts, and do virtual trading.

There are limited ways to fund your account, however. But there is also no minimum deposit. This is one trusted way to begin trading even if you have a dollar in your account. On the other, there is no minimum deposit to begin trading. And you can invest in international big-name shares for little-to-nothing—via fractional shares. Sure, it offers very powerful charting features—but these are probably not useful for beginners. There may also be our monthly fee, plus commissions for non-high-frequency traders.

Available on different devices, get easy access to reports, fast trading, and a dashboard with real-time updates. One unusual feature is a tax liabilities tracker. Taxes can be complicated when trading. Superhero tracks this for you based on your account balance and activities—potentially saving an enormous amount of time at the end of the tax year 🗓️.

Tax reporting is expressly gruelling for new investors, all of the guesswork is taken out as reports are included directly on the platform—with transparent fees.

We use cookies to ensure you get the best experience on our website. Cons: Does not support ETF trading. Breaking into the stock market is a great way to start making your money work for you. This top-rated CFD trading platform is also very competitive in terms of fees. MetaTrader 4 MetaTrader 4 MT4 is an award-winning platform that is the most widely used around the globe. The Forex trading platform and broker marketplace is now very competitive with many different Australian Forex trading platforms and brokers.

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