These are the top Forex trading platforms for retail spot and Euro Futures – i.e. not Reuters, Eikon, Bloomberg (as above…).
Don’t choose by what you think is pretty – choose what works as your workhorse.
There is no ‘best’ platform. Everyone will love or hate one platform for one reason or another and there is definitely a lot of MT4 haters who pretend they are professional traders.
Platform choice will be down to what the broker offers and what you are trying to trade – i.e. retail spot forex or futures or crypto.
Platforms are either going to be on your desktop (depending on your flavour of Operating System and whether it runs on OSX, Windows or Linux) or on Web.
TradingView has definitely caused a serious shakeup in the terminal scene by having huge functionality on their web platform that some desktop terminals cannot match. There is a caveat to this, if you are running some high end stuff, running any automated trading programs or trading certain instruments – a web platform may not be the way to go.
Whilst I appreciate brokers offer mobile trading apps – If you mostly trade off your mobile phone, you aren’t taking this seriously enough.
Tradingview – https://uk.tradingview.com – an invaluable web platform that I use every day on top of MT4. Huge range of markets and decent web experience and mobile too.
You can trade via TradingView with these brokers – Gemini, FXCM, Oanda & Tradestation – sign in, click the Trading Panel at the bottom of the chart screen and select the broker.
Metatrader 4 – https://www.metatrader4.com – MT4 has been around years, nearly everyone has it or has used it. Nearly all the brokers package it as part of their offering.
We are repeatedly told its end of life, but the updates keep coming…
Recently we have seen some eye opening truths coming out about MT4 which Metaquotes have tried to shut down – so be aware what you are dealing with.
Metatrader 5 – https://www.metatrader5.com – Personally I find MT5 bizarre, it has a few more features than MT4 but not enough to change over. I have tested it and I don’t like it. It doesn’t scroll properly, I find elements clunky, having to re-code everything to go in (for automation, indicators, expert advisors) is going to be a nightmare – you can see why so many have simply not moved over.
cTrader – https://ctrader.com – growing in popularity, especially amongst modern coders who also trade. Its ok, but not enough for me to change tack from MT4 at this stage.
Ninja Trader – https://ninjatrader.com – another fave of the retail crew, I haven’t spent much time in ninja but it does the job.
Sierra Chart – https://www.sierrachart.com – more geared to the futures crowd, I find the setup pretty hard going, the website is limited but once its up its ok – I have found far better platforms for futures trading however.
Crypto Specific Trading Platforms
Be extremely careful in who you choose. Trading Crypto is still the wild west, several years later after bitcoin went mainstream.
In Forex for the UK, unless they are a bucket shop – we have the Financial Conduct Authority (FCA) regulating brokers, we have the Financial Services Compensation Scheme (FSCS), we have customers deposits held in segregated accounts.
With Crypto platforms/brokers – you only have to see their front pages to see most are ghost companies or shell companies if operating in the UK – DO YOUR HOMEWORK! – nearly all of them fail to mention anything about being regulated (because most countries haven’t got round to actually accepting crypto exchanges to be regulated) or customer deposits – this should scare the hell out of you if you are attempting to trade at size not to mention exchanges going down or being hacked.
Update 06/03/2020 11:26am
The FCA have put out a warning on Bitmex – i expect more Crypto brokers/exchanges to follow….
Coinbase – https://www.coinbase.com – I had an appalling experience with Coinbase. They removed UK payments for a period of months, they left us in the lurch and I couldn’t get my money out. They tried pushing us down various avenues and it took multiple complaints to get my money back.
I strongly advise against using Coinbase – their customer service is terrible.
GDAX has now been scooped up and badged under Coinbase Pro – everyone will tell you to go Coinbase Pro because the support is better however the damage is done. Do not give this lot your money.
Kraken – https://www.kraken.com/en-gb/
Bitrex – https://global.bittrex.com/
Bitfinex – https://www.bitfinex.com/