I first started trading forex when I was about 24, and had been trading stocks (not day trading) before that. I always remember seeing the currencies ticker at airports years before, and wondering how it all worked.
My obsession with forex trading came when stock trading wasn’t cutting it for me. I wanted to scalp profits when there were ups and downs, and I wanted to be able to trade all the time.
I found out that you could trade forex almost 24/7, the market would only close from Friday afternoon until Sunday afternoon. Every second in between, people were playing the game.
In 2013 I started getting serious about trading forex after spending a few months reading books and increasing my curiosity and knowledge. I opened up trading accounts on several broker websites to see what would be the best forex trading platform for me as a beginner.
This post onwards is to share with you what I think are the top forex trading platforms for beginners, why I think that way, as well as valuable takeaways for beginner forex traders.
The Best 3 Forex Platforms for Beginners
As I mentioned before, I created several forex trading accounts. Each broker has its own way of laying out the tools and buying/selling options, so I wanted to see what worked best for me.
The way I rank the best platforms below is entirely based on how easy it is to navigate around the tool, as well as how easy it is to understand it so you don’t lose money.
Nothing is worse than when you enter a trade and want to get out quickly, but you don’t know how to create a sell order.
Tip: Once you create your account at one of the brokers below, start a timer on your phone for 1-hour and use that time to click on everything in your account. The more you understand where everything is, the more you can use the platform like a swiss-army knife and make it your powerful weapon to print money for you.
With a $0 minimum budget to start your account, this is the perfect place to start your beginners forex trading account. The platform is great too.
The reason Oanda is the best forex trading platform for beginners is because of the $0 minimum budget, as well as over 90 currency pairs to trade from.
The runner-up alternative is Forex.com with only a $250 minimum budget required to create your own account. The platform is equally beautiful to Oanda.
Forex.com gets the runner-up #2 spot for best forex trading platform because it’s very visually appealing. If you have at least the minimum $250 budget, and you know that your currency pairs are available here, then this would be the best bet for your trading needs.
The other benefit is that if you’re still learning, then Forex.com beats Oanda in knowledge material available to members, totally free.
Again, if I had at least $250, then I would definitely pick this platform.
What I learned
What the best forex trading platforms for beginners are
What about in the US?
How to go from beginner to intermediate