In this case, your potential risk will be limited — but so will your potential rewards. For most beginners, trading forex with an amount of capital that you can afford to lose can be a great way to learn with less risk, and can be of value if you focus on the percentage returns rather than their dollar value. IG takes first place in our Annual Review as the best forex broker, with available currency pairs and the ability to trade CFDs and forex options, traders have plenty of choices.

IG is the only broker that is regulated in both Switzerland and the U. expand What does it mean to be the biggest forex broker? What can be considered the largest forex broker may vary depending on the time period used to measure size.

Important factors to consider when gauging the size of a forex broker are the assets under management, number of clients, and market capitalization valuation for public companies. Here are the top 10 brokers by forex and CFD trading volume according to data compiled by Finance Magnates during the third quarter of data excludes Japan due to the abnormally high trading volumes known to come from Japanese brokers :.

CMC Market's Next Generation platform comes with a massive selection of nearly 10, tradeable instruments. It delivers a terrific user experience, as well as advanced tools, comprehensive market research, and an excellent mobile app. Hands down, the CMC Markets Next Generation trading platform is a market leader that will impress even the pickiest of traders.

The new Dynamic Trading tool allows you to place multiple trades simultaneously, which was a nice innovation by CMC Markets this year. If you're a fan of mobile platforms — or trading forex on the go — see our picks for best forex trading apps here. What do you value most in a forex broker? Maybe you want to trade forex on the go. You might be looking for the most cost-effective forex brokers.

Or maybe you are a beginner forex trader who is just getting started. With a wide range of forex brokers comes a wide variety of features and specialties. IG offers the most tradeable CFDs in the industry, 19, CFDs, or "contracts for difference," enable traders to speculate whether the price of a stock, forex pair, market index, or commodity will go up or down without taking ownership of the underlying asset.

Alongside nearly 10, CFDs, CMC Markets offers the most tradeable currency pairs, with pairs that can be quoted both ways i. As a highly-trusted and regulated global brand, Interactive Brokers IBKR provides everything professional traders might need, from advanced trading tools and platform features to competitive pricing across a wide variety of markets, as well as connectivity to over global exchanges.

In addition to competitive spreads and low commission-based pricing for forex, Interactive Brokers provides more third-party research than any other broker. Interactive Brokers continues to innovate its platform offering, such as with its new Impact app for environmental, social, and governance ESG investing, alongside the related Impact dashboard available in its Trader Workstation TWS desktop and WebTrader platforms.

Professional client status : In today's highly regulated forex world, traders who want to maximize their margin leverage must apply and obtain ESMA's professional client status with their broker. Traders designated as Professionals in the EU do not receive negative balance protection and other consumer safety mechanisms such as eligibility for compensation schemes in the event of a broker's insolvency.

To determine the best forex brokers for professional traders, we broke down each broker's active trading program, and compared all available rebates, tiers, and all-in costs. Trading platforms were then tested for the quality and availability of advanced trading tools frequently used by professionals. Here are three of the most important factors to keep in mind when choosing an online broker for forex trading. Not sure how to go about choosing a forex broker?

Check out our Forex Broker Compare Tool to compare dozens of the biggest forex brokers in the industry and analyze their top tools and features. Our Compare Tool is fed by data gathered by our expert researchers for our forex broker reviews , so you can feel confident you have the most up-to-date information at your fingertips. To see an intuitive, comprehensive list of highly regarded regulatory agencies, check out our Trust Score page. Also, be sure to check out our in-depth reviews of forex brokers — we detail the regulatory status of each individual forex broker across the international forex landscape.

Here are the Overall rankings for the 39 online brokers who participated in our Annual Review, sorted by Overall ranking. Was this helpful? Yes or No. At ForexBrokers. com, our evaluations of online brokers and their products and services are based on our collected quantitative data as well as the qualitative observations and qualified opinions of our expert researchers.

Each year we publish tens of thousands of words of research on the online forex brokerage industry, and we evaluate dozens of international regulator agencies click here to learn about how we calculate Trust Score. We test all available trading platforms for each broker — whether they are proprietary or come from third-party providers — and evaluate them based on a host of data-driven variables. All websites and web-based platforms are tested using the latest version of the Google Chrome browser.

Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running macOS Ultimately, our rigorous data validation process yields an error rate of less than. For a full explanation and accounting of our research and testing process, please click here to learn more about how we test. There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Read more on forex trading risks. Steven Hatzakis is the Global Director of Research for ForexBrokers. Steven previously served as an Editor for Finance Magnates, where he authored over 1, published articles about the online finance industry.

A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U. as a Commodity Trading Advisor CTA. Blain Reinkensmeyer has 20 years of trading experience with over 2, trades placed during that time. He heads research for all U. com and is respected by executives as the leading expert covering the online broker industry.

John Bringans is the Senior Editor of ForexBrokers. An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. Joey Shadeck is the Content Strategist and Research Analyst for ForexBrokers. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years.

An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content. com is committed to the highest ethical standards and reviews services independently. Learn How We Make Money. Home Forex Guides Directory. November 15, Best overall broker, most trusted Minimum Initial Deposit £ Pros Outstanding platforms and tools Over 19, tradeable instruments Competitive pricing Cons No predefined layouts on the flagship web platform Limited product range on MT4.

Pros Flagship platform is top of the line Over 40, tradeable instruments Excellent customer service Cons High minimum deposit. Pros Low trading costs Excellent web and mobile platforms Robust research materials Cons Educational offering could be improved MT4 offering limited to 62 symbols.

Pros Robust platform for professional traders Wide range of global markets Thorough research offering Cons Trader Workstation platform is likely too complicated for inexperienced traders.

Best desktop platform, U. Pros Outstanding platform in thinkorswim Thorough research offerings Excellent educational materials Cons Does not offer copy trading Forex pricing is slightly higher than industry average. Pros Multiple high-quality platforms Excellent market research Wide range of markets Cons Only about instruments are available on the MT5 platform, compared to over 4, on non-MetaTrader platforms.

Pros xStation 5 platform is an industry standout Robust selection of trading tools Excellent customer service Cons Pricing is just average.

Excellent all-round offering Minimum Initial Deposit £ Pros Excellent platforms and mobile app Extensive range of markets High-quality market research Cons Pricing is average for the industry Limited product range on MT4.

Pros Large number of investors to copy Extensive range of markets to trade User-friendly platforms and app Cons No automated trading strategies Stops, limits mandatory on trades Research trails competitors. security Find a trustworthy broker: ForexBroker. percent Pro tip: For most beginners, trading forex with an amount of capital that you can afford to lose can be a great way to learn with less risk, and can be of value if you focus on the percentage returns rather than their dollar value.

The Trader Workstation short: TWS is the most powerful trading platform at CapTrader and is characterized by its great reliability and stability. Functions and applications that enable global trading of a wide variety of security classes with countless order types , with algos and with many efficiency-enhancing trading tools complete the trading in the trading software.

Professional Tools: Access TWS tools for trading, orders, live quotationss, technical research, and analysis via a single window. Order Management: In the portfolio display, you get the most important details about positions at a glance.

In the order entry window, you can define and submit orders directly, and with the order monitor you can track and modify active orders and view executed and cancelled orders. Many order types: Create attached orders directly in the "orders" section, such as bracket, stop-limit, profit-taking or one-cancels-all orders, as well as beta, FX or pair hedging orders. Watchlists: Add multiple watchlists to display financial instruments in groups and create individual market scanners.

Charting: Add gradients, lines, and bars to market scanners to make trends and patterns easy to recognize. Informative charts: View interactive, customizable charts that support numerous studies and trend lines. Individual: Build an individual workspace from your favorite tools that fits your trading needs.

Premium services: Increase the power of Mosaic by subscribing to premium news services and analysis from renowned providers such as Reuters, Dow Jones, Morningstar and Zacks. Freely configurable: The color grouping function allows you to color-link display windows and ticker symbol activities so that a symbol is automatically adjusted in all color-linked windows when you change it.

With the help of our real time control system in the TWS, you can check the current status of your account at any time. This puts you one step ahead of others in a constantly changing market environment. You can find more information about the account window in the TWS on the following page: TWS account window.

Here you can view your account balances, margin data, your available balance for trading, market value and portfolio data for all your products in an individually adaptable and clear account overview. Create watchlists where you can monitor real time based price quotations based on your market data subscriptions. Suiting your personal trading methods, you can create, resize and move multiple individually named watchlist windows. Keep track of your margin requirements. Quick overviews of potential shortfalls help you to avoid position liquidations.

Also use the "What if" portfolio margin calculation to view your margin requirements by using the portfolio margining system. Create real time price, time, margin and volume related real time alerts that inform you of important changes in the market environment. View daily executions and net trading volume by ticker symbosl in our expandable transaction reports. The classic TWS is always available for all traders who need more complex tools and algorithms.

It is characterized by its reliability, stability and technical capabilities. Through a variety of order types, algos and professional tools for a wide range of strategies, the classic TWS allows you the worldwide trade of various securities and offers you a quick-click order splitting function via bid and ask prices.

The Mosaic version of the TWS is characterized by its intuitive design and immediate usability. It grants quick and easy access to comprehensive trading, order management, chartering, watchlist and portfolio tools.

The individually adaptable workspace can be arranged according to your own needs and popular tools, making advanced order entry easy. Click on one of the TWS versions below to download and install the award-winning trading platform. Once the software is installed, you can log into the platform. Download for Windows PC Download for Windows PC offline version. Download for Intel Prozessor Download for Apple Silicon Download for High Sierra.

Download Latest for Linux 64bit. Manual engl. Tip: Optimize TWS memory. Note: The complex TWS requires a little training time, after which you no longer want to miss the advantages of this professional interface. You quickly feel that the knowledge of more than three decades of pure stock exchange trading is here. The software is available for all conceivable solutions: from Windows, Mac and Linux versions to mobile app solutions for Android and iOS end devices.

Currency pairs in the Trader Workstation TWS can be used to exchange currencies and establish currency positions. To exchange currencies against each other it is important to interpret the presentations of the rates correctly. The TWS always displays a currency pair in the quantity quotation. For example, the indication EUR. USD in the description column of the platform means that in case of a sell order , the amount of Euro corresponding to the order size will be sold.

In return, the trader receives US dollars in exchange. The exchange rate is represented by the bid and ask price and shows how much US dollars the trader will receive when selling one Euro.

Example: In case of a sell order of EUR 1. To check how much Euros you currently have in your account, open the account window in the Trader Workstation TWS. In this example, the balance of Euros is: 9. The balance of US dollars is: In the next step, the appropriate currency pair is selected to be able to exchange Euros into USD. In our example, a list has been created containing different currency pairs such as EUR.

USD, EUR. CAD, EUR. CHF and others. Now we right-click on the EUR. USD currency pair. IMPORTANT: in our example we want to sell Euros to get USD. Now the sell order has been called. You have the possibility to individualize the order in the next step.

Two information windows about your order will now appear. Order preview: In the following window you can now see what effects the currency exchange would have or will have. After placing the order, the following window appears, which summarizes the order again and points out the minimum size for more information see the bottom of this page. Now switch to the account window again and check the cash balances. As you can see in our example, instead of the original 9.

Note: Regardless of whether you execute a single or collective exchange, you should note the following: As soon as your order size exceeds an equivalent value of EUR You can apply for the corresponding approval in the account management Client Portal instructions: trading permissions. You are also welcome to use FX Trader within the TWS.

This tool, specially designed for forex trading, helps you to keep track of up to 16 currency pairs of your choice and to place, change or delete orders very quickly. January FAQ , Trader Workstation. Example for a currency trade: How to exchange Euros for US Dollars?

Check your Euro balance. Now close the account window again to return to the main view. Select the EUR. USD currency pair in the TWS. The required currency pair is: EUR. Sell your Euros with a sell order. Place the sell order.

Here appears your account number and your name hidden in the example. In our example you SELL Euros and receive USD in return. At this point the amount of Euros that should be exchanged can be entered. In the example, the account has a Euro balance of 9.

Now 5. The amount can therefore be entered in this field. Note: TWS has configured 1. With this order type the order will be executed directly at the next possible rate. Alternatively, LMT stands for limit can be selected at this point, if an exchange rate so-called limit rate is to be selected at which the exchange is to take place. However, this may cause a delay in execution, so we have chosen MKT in this example.

The trade will then be displayed as a so-called virtual position. Note: depending on how you have set your TWS, often only a button "S" appears, because the complete column row is not displayed. Info window for the order. Final order placement and order preview. The order fee to the Forex order fees The account balance before and after the currency trade minus the order fee With this trade 5. Order message.

Control of currency trades. Checking the cash balances. When trading forex, you should be aware that different margin rates apply to different currencies. Use a variety of currency pairs. How do I exchange foreign currencies in the TWS Optimize TWS memory How do I create alerts in the TWS?

HOW DO I EXPORT DATA FROM THE TWS?

Check out our Forex Broker Compare Tool to compare dozens of the biggest forex brokers in the industry and analyze their top tools and features. Now, although a good trading computer will help you trade more efficiently, it will not necessarily make you a better trader. IG offers the ultimate comprehensive trading package, featuring excellent trading and research tools, industry-leading education, and an extensive range of tradeable markets. In this case, your potential risk will be limited — but so will your potential rewards. Get a Good Laptop for Forex Trading.

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