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Which is the best trading platform in the UK? Is the best trading platform also best for beginners and day trading?

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Best Day Trading Platform in UK in 2021, best broker.

In addition to its own avatrader trading platforms, avatrade nicely also supports the following trading platforms: metatrader 4, metatrader 5. Duplitrader, and zulutrade. For those already using metatrader, avatrade also offers their own version of this popular forex trading software to make your account installation easier.

Best day trading platform in UK in 2021

Which is the best trading platform in the UK? Is the best trading platform also best for beginners and day trading?

We have in december 2020 reviewed a great number of online trading platforms and found the answer in the list below. A few of the best platforms that didn’t make the list were trading platforms from tradefred, bdswiss, nord FX, hotforex, CMC markets and saxo bank. The winner from these reviews: avatrade’s trading platform is the best trading platform in the UK. Avatrade is also great for day trading, whereas we would say that etoro has the best trading platform for beginners. Etoro and pepperstone also made the top three trading platforms in the UK market.

The wonderful news for you as a trader is that all the eight trading platforms in the list below are completely free. The 8 best trading platforms in the UK are:

Avatrade trading platform, great for day trading.

Pepperstone trading platform, offering many different platforms.

Etoro trading platform, great for beginners.

Plus500 trading platform, great for trading in multiple markets.

FXTM trading platform, available in 16 languages.

Marketsx trading platform, great combination of technical indicators and fundamentals information.

XTB trading platform, trade more than 4,000 tradable assets.

Octafx trading platform, offers metatrader and ctrader.

Of course, all the top eight trading platforms are run by brokers that are correctly regulated and thus you can feel safe about your money. However, as always with trading, never invest more than you can afford to lose. Below you can read our more in-depth reviews of the best eight trading platforms for the UK market.

1. Avatrade trading platform

Avatrade supports a wide variety of trading platforms. The brokers’ proprietary client-side avatrader trading platform works on windows XP, vista and 7, and a macintosh version is also available. Of course, all of them are very easy to download and install directly on your desktop or laptop computer.

The screenshot below shows the extensive functionality of avatrader, including technical and fundamental analysis, reports, tutorials and account management features.

Also, the avaoptions web platform and the MT4 webtrader allow you to sign in to your avatrade account using any internet browser without having to install it on your computer. Lastly, the avatradego app allows you to trade in an avatrade account using an ipad, iphone or android phone and/or tablet so you can manage and view your avatrade trading account while away from home. Read more about the avatradego app here.

2. Pepperstone trading platform

Pepperstone offer some 11 trading platforms to their users. MT4 is arguably the centerpiece of this offer. MT4 comes with all the bells and whistles one may expect from it, and yes, that includes support for eas and VPS. The platform also features an impressive number of technical indicators, as well as one-click trading straight off the charts. MT4 is available in windows- and mac-based versions.

In addition to MT4, pepperstone offers MT5 as well as an MT4-based web trader, which is indeed the easiest to access and to use. Despite its no-download nature, this web trader is surprisingly powerful and capable. It too offers access to technical indicators and various trading tools.

The trading platforms are all available to you on iphone, ipad and android versions.

Ctrader comes in three versions as well: there’s a downloadable, windows-based version, a web trader, as well as a mobile platform.

3. Etoro trading platform

Etoro has designed an original financial trading platform that incorporates graphic trading scenarios depicted as a race between currencies or a tug of war. The company also has a professional trading application called “expert mode”, as well as a web-based trading platform called “webtrader”. A screenshot of the software can be viewed here.

Etoro also offers customers a mobile app that can be downloaded from the apple app store for the ios version and from google play for the android version. Read more about etoro’s excellent trading app here. The etoro platforms only allow you to trade in U.S. Dollars because a unified currency is required for transparency purposes on their global network.

The etoro trading platform is great for beginners both as it is really easy to start trading with and also because of its copy trading. Copy trading is the bread and butter of the operation. At the center of the scheme stands the copy people screen, which offers you several ways to locate traders who match your needs/trading style. The popular investor section is the display case of the popular investor program. Through this program, the broker rewards traders who are copied, thus offering them another way to monetize their trading skills. Everyone can become a popular investor, including you.

The social newsfeed seems to be the pride of the etoro platform. Through it, you as a trader can interact, open discussions, follow the moves of your peers, etc.

Notifications are also fed to you on the web platform as well as mobile. Every time a followed trader makes a move or posts something, you as the follower will be notified.

75% of retail CFD accounts lose money.
You should consider whether you can afford to take the high risk of losing your money.

4. Plus500 trading platform

The trading platforms offered by plus500 are very simple to operate and seem especially suitable for those interested in dealing in multiple markets. From one single screen, traders can obtain quotes in real-time for any of these asset markets and can execute transactions as well.

The plus500 trading platform is available in a desktop version called windows trader and a web-based version called web-trader. In addition, a popular mobile version of the plus500 platform is available that works on apple devices like the iphone, ipad, ipod touch and apple watch. Plus500 apps also exist for mobile devices using the android and windows phone operating systems. Read more about the plus500 mobile trading app here.

The screenshot shown below displays the functionality of the plus500 CFD trading platform, which includes trade execution, market pricing overview, a basic chart, position and account balance reports. The platform also has fund management capabilities, which give you as a trader the ability to make deposits and withdrawals from your trading account.

In addition to being able to watch various markets and execute trades, plus500’s trading platform lets traders easily review past transactions and keep track of current positions. The software also includes a rather basic charting facility with multiple time periods available. Unfortunately, only one chart can be displayed at a time since the system does not support the simultaneous display of multiple charts.

In addition to the functionality provided by offering different versions of the plus500 trading platform, the broker has also made some nice extra tools available for you as a trader.

One such tool is the economic calendar and the platform also offers a trade alerts service, as well as a trader’s guide.

Nicely there are also several tools available for risk management. Plus500 supports guaranteed stops and trailing stops, as well as close at profit and close at loss rates. For your convenience, these tools and their peculiarities are thoroughly explained at the broker’s website.

76.4% of retail CFD accounts lose money.

5. FXTM trading platform

In addition to offering the option of using MT4 or MT5 with your FXTM trading account, FXTM offers customers their proprietary FXTM MT4 webtrader platform. This web based platform requires no download and can be accessed directly from any browser. The webtrader platform supports all operating systems and has a simple to use interface available translated into 16 different languages.

In addition to one click trading, which allows a trader to make a transaction with a single mouse click, the web platform offers nine chart time frames with trading available directly from the charts. The web platform, which is based on MT4, has all the advanced analysis tools and can be used in both a live account and a demo account.

The screenshot below shows FXTM’s proprietary MT4 webtrader page with real time market pricing, deal execution, and tools for technical and fundamental analysis.
FXTM now also provides clients with facilities to conduct copy trading on their series of metatrader trading platforms. With the copy trading service, FXTM traders can access a wide array of trading signals they can subscribe to. Once subscribed, every trade executed by the signal provider can be automatically copied. With the copy trading service, even novice traders can begin trading like pros.

6. Marketsx trading platform

The go-to trading platform of marketsx is a proprietary web trader. Besides being surprisingly powerful charting and analysis-wise, this platform is also available in mobile versions, for android- as well as ios-based devices.

Scores of technical indicators are included in the marketsx package and there is a unique feature called a trading cube too. Real-time news feeds are also delivered for those keen on trading the fundamentals in combination with technical analysis.

MT4 is also part of the marketsx platform offer. The world’s most popular (and arguably: best) trading platform hardly needs an introduction. It offers superb charting and analysis, with scores of technical indicators pre-installed in the freely downloadable version. Traders are free to add additional indicators and those so inclined, can even code their own.

MT4’s favorite feature is its support for eas and for EA creation. Eas work best when coupled with a proper VPS service.

73,9% of retail CFD accounts lose money.

7. XTB trading platform

XTB supports two trading platforms (three if we count the mobile app): MT4 and xstation5.

MT4 is a great centerpiece for every online trading operation. It is proven, people love it and it offers superb trading tools. XTB’s version of MT4 is no exception either. It comes with scores of technical indicators and drawing tools. It aids technical trading in several ways. Among its special features are:

A chart pattern recognition tool. With this tool, you can define stop-losses and take-profits. You can also set entry- and exit points for your trades, quickly and easily.

The strategy tester is another superb addition. It allows you to back-test your trading strategies and thus to fine-tune them.

Custom indicators. The platform lets you create and purchase custom indicators. Installing these indicators is really quick and simple for you.

If you are looking to trade at XTB through MT4, you can download the software for free. There is also a free browser-based option available.

The xstation5 is the proprietary trading platform of the broker. It is an award-winning piece of software. Xstation5 supports a massive range of tradable assets – more than MT4. It is also easy on the eyes.

The platform offers outstanding execution speeds, scores of drawing tools and a superb selection of technical indicators.

Xstation5 is available in a web-based and mobile format. The two versions look similar. The web-based one does not require downloading. It works well with all the major browsers.

Xstation5 lets you as a trader buy and sell more than 4,000 tradable assets. FX, as well as a wide range of cfds, are available on a single platform.

The featured charts are clear. They lend themselves well to technical analysis.

You can set sls and tps directly on the charts. There is a built-in trading calculator, which details potential profits and losses.

The broker maintains a team of professional traders. This team shares tips and trading signals with users. An economic calendar will also help you with fundamental analysis.

The sentiment indicator offers a glimpse into how your peers trade a given instrument.

Both platforms support real money- as well as demo accounts.

8. Octafx trading platform

Octafx will greatly please many forex traders since it offers support for the very popular metatrader 4 and metatrader 5 online trading platforms and their mobile apps. In addition to trade execution and order placement, these platforms offer extensive charting, technical analysis and portfolio management features. They also allow you as a trader to write your own expert adviser that can automate dealing activities.

The screenshot shown above illustrates the basic functions of the octafx installation of metatrader 4, which includes market monitoring, charts and technical analysis, on-screen trade execution, trade history and account management features.

Octafx also supports the increasingly popular series of desktop and mobile app trading platforms offered by ctrader, which offers interesting features for you that metatrader does not offer.

Please share all the comments you might have on these online trading platforms in the comment field below. Which is the best trading platform in the UK according to you? And would you say that the same platform is also best for beginners?

Compare online trading platform

These companies could help you grow the value of your portfolio with an online trading account. Compare online trading platforms that can make it cheaper and easier for you to trade.

Your investments are not guaranteed; they can decrease in value as well as increase and you may not get back
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What is online stock trading?

Online stock trading is the process of buying and selling company shares over the internet. It's sometimes called share dealing.

A 'share' is a unit of ownership in a particular company.

Share dealing allows you to buy stock in companies like apple, facebook or google.

How do you start stock trading?

If you're interested in online trading, you'll need to open a stock trading or share dealing account online. Then you can add money to it and start to buy shares online and sell them as a way of making money.

You do this by using a stock trading platform. A trading platform is software that you use to conduct your trading. This includes opening, closing, and managing market positions through a financial intermediary such as an online broker.

How can an online stock broker help?

Online stock brokers act as a middlemen between you and the stock market.

There are three different types of stock brokers:

Advisory brokers: these are brokers who suggest the shares you should buy.

Execution only brokers: these brokers only make the trades you instruct them to.

Discretionary brokers: these brokers act on your behalf buying and selling shares at their own discretion to earn you the most profit.

How to find the best trading platform

Different stock trading platforms offer varying features and fee structures. So when looking for the best trading platform, UK residents should think about these factors:

Fees: all online market trading platforms, UK wide, charge you a fee for each transaction you make. This is the case whether you want to buy shares online or sell them. If you're doing a larger trade, the fee might be calculated as a percentage of the transaction. Some providers also charge an ongoing annual or monthly fee on top of this. The best platforms usually have more fancy features, which will cost you more.

Ease of use: online stock trading can be complex. Often you'll need to respond quickly to market changes. So look for a share dealing platform that lets you make fast, accurate, hassle-free trades.

Access to data and research: the best online trading platform for your needs will give real-time market updates. Others give dynamic or delayed market updates. And sometimes, a share dealing platform will give you research and broker analysis on individual stocks. This information can be helpful to make decisions about which shares to buy.

Trade options: look at what options are available for you to buy shares or sell them. Can you buy or sell shares at a set price? Are stop loss orders an option? This will help reduce your risk.

Margin loans: some people borrow money to help build their investment portfolio. If you want to do this, check to see if your share dealing platform or online broker offers margin loans.

Security: how secure is the platform? The best trading platform will make sure your funds are safe.

Stock trading platforms can come in the form of desktop software, web-based platforms, or even smartphone apps.

What is a stop-loss order?

A stop-loss order is an order placed with a broker to buy or sell once the stock reaches a certain price. The purpose of a stop-loss order is to limit losses. For example, if the stop loss order is set to 5% below the price you bought the shares, the broker will sell the shares if the price of the stock falls by 5%.

Choosing the best stock trading app

There are a few online trading apps you might want to try before you commit. Each has different features and designs.

It's hard to say which is the best online trading platform, UK wide. But when you're choosing you should think about factors such as share selection, design and extra features.

The best stock trading app should offer you a wide variety of stocks to trade. If it has a limited share selection, and the shares you want to buy aren't on the app, you could miss out on important money-making opportunities.

The design of an online trading app should make it easy to use. It's important that you can find all the features and tools you need quickly.

Some stock trading apps offer extra features, like demo accounts and stop loss functions.

When you're trying to choose the best online stock broker, you should look at what they offer in these areas.

What is the best trading platform?

The best share dealing platform for you is the one that suits your financial needs and your investing strategy.

Some well-known and reputed online market trading platforms include:

What is the best broker in switzerland in 2021?

(disclosure: some of the links below may be affiliate links)

I have talked about several brokers on this blog. But I have not yet answered the question of which one is the best broker in switzerland!

It is now time to answer this important question. There are several swiss brokers, and most swiss banks have their broker service. But some international brokers are also available in switzerland.

If you want to invest in the stock market, you will need a broker account. So, before you can invest, you will need to choose a broker account. You need to choose carefully since changing brokers is neither easy nor free. Therefore, it is essential to pick the best broker possible.

How to choose a broker?

Choosing a broker is not very difficult, but it is a very important decision.

You are likely to use it for many years. You can always switch to a new broker. But this is not free and not straightforward to do. So, it is better to start with the right decision directly. Ideally, you want to start with the best broker for your needs.

The first thing you need to ensure is that you only trade with a reputable broker. You will entrust your investments with this broker. So you want a broker with a good reputation and excellent security.

Mainly, you need to make sure that your assets will be held separately from the broker legal entity. That way, if the broker defaults, you will still be able to reclaim your assets through the secondary entity. It is something that most brokers do.

The second thing that you should check is whether the broker gives you access to the exchanges you need. For instance, if you want to trade in swiss stocks, you will need access to the swiss stock exchange (SWX).

Due to a bad set of laws, it is currently challenging to access exchange traded funds (etfs) from the U.S. Indeed, european investors cannot currently invest in these funds. And only interactive brokers will offer swiss investors access to these U.S. Etfs. So, if you want to invest in these funds, your choice is overly limited.

Finally, you need to look at the prices. High brokerage fees is the main issue with most swiss brokers. They are very expensive. As we will see later, there can be a huge difference in fees between different brokers. Most people do not realize this! When you compare brokers, you will see that the difference is too big to ignore!

Out of these three criteria, the third one is the one that requires the most research. Finding reputable and safe brokers is not very difficult. But finding a cheap broker giving you access to the stock exchanges you need is not always easy. If you do your research properly, you will directly start using the best broker for your needs.

The best brokers in switzerland

As I said before, there are many options. You can probably trade directly with your bank. But swiss banks are costly for trading. It would be very practical to trade directly with your bank. Unfortunately, they are simply too expensive. So, you should not trade with your bank.

There are a few other options with swiss online brokers:

Corner trader

Saxo bank

Swissquote

These are already much more interesting than trading with your bank. But they are not cheap either.

Finally, there are several international brokers available in switzerland:

DEGIRO

Interactive brokers

These two brokers are the best options available for switzerland. They are significantly cheaper than all the other options available in switzerland. They may not be swiss, but they offer all their services to swiss people. This makes them the two best brokers in switzerland.

To see that it is the case, we are going to compare the fees of the different brokers. We can also take into account the fact that with them, you do not have to pay swiss stamp tax.

Comparison of the brokerage fees

We can quickly compare the fees of some of these brokers for some operations.

I cannot make a comparison of all the brokers available because there are too many. So I picked the most popular brokers in switzerland. I included two bank brokers, two online swiss brokers, and two international brokers. This should give a good set of brokers for comparison. This should definitely help showing what are the best brokers in switzerland.

Here are the fees for these 6 brokers for a few examples of operations on swiss and american stock exchanges. The share prices of april 16th were used for the comparison. Here are all the data I have collected:

Action	postfinance	migros	cornertrader	swissquote	DEGIRO	interactive brokers
custody fees	90 CHF / year	0.23% / year min 50 CHF	35 CHF / quarter if inactive	0.025% / quarter min 15 CHF max 50 CHF	0 CHF	120 CHF / year 0 CHF if more than 100K
buy 10 CHSPI shares	25 CHF	40 CHF	20 CHF	9 CHF	2.35 EUR	5 CHF
buy 100 CHSPI shares	50 CHF	40 CHF	23 CHF	9 CHF	5.55 EUR	5 CHF
buy 10 NOVN shares	15 CHF	40 CHF	20 CHF	20 CHF	5.42 CHF	5 CHF
buy 100 NOVN shares	35 CHF	40 CHF	20 CHF	30 CHF	9.23 CHF	5 CHF
buy 10 MSFT shares	35 USD	40 CHF	25 CHF	25 USD	0.54 EUR	0.35 USD
buy 100 MSFT shares	70 USD	40 CHF	25 CHF	80 USD	0.90 EUR	0.36 USD

Or, if you prefer, here is the data in graphical format:

As we can expect, the swiss traditional brokers are in a really bad position. Swiss online brokers are slightly better. Swissquote is not as bad in some cases, except for USD shares.

In most cases, interactive brokers is the cheapest broker. It is followed by DEGIRO. So our two online foreign brokers are significantly cheaper than the others. In the worst case, IB is 222 times cheaper than swissquote!

On average, if you are doing big enough transactions, both DEGIRO and IB will be much cheaper than the other brokers. They are always among the cheapest and are never in the most expensive options. For me, this shows that DEGIRO and IB are the best brokers available in switzerland.

If you would like to have more brokers included in this comparison, let me know, I can extend the list if many people are interested. I know that some people want to have a swiss broker. I am going to try to find the best swiss broker in another article.

Swiss stamp tax

In switzerland, there is a tax called the swiss stamp tax (or swiss stamp duty). This is also called the swiss securities transfer tax. This is a federal tax.

This levies a tax on each transfer of securities when a swiss securities dealer is involved in. By swiss securities dealer, the tax means swiss banks and swiss brokers.

The amount of the tax depends on the exchange:

Swiss securities: 0.075% fee

Foreign securities: 0.15% fee

This means that by choosing a non-swiss broker, you will save on the swiss stamp tax! Since this is something that is levied on both directions (buy and sell), by using a swiss broker, you are effectively losing 0.30% of your transactions! Over the years, this can quickly add up to a large amount!

I understand the need for taxes. But this tax effectively moves people away from swiss brokers. This law officially makes foreign brokers the best brokers for switzerland.

The two best brokers in switzerland

As we could see from the comparison, the choice is fairly easy. From a fee point of view, only interactive brokers and DEGIRO are good choices. All the others are simply too expensive. Interactive brokers is the cheapest of the available brokers.

For me, interactive brokers is definitely the best broker available in switzerland. Even though DEGIRO is also cheap, it cannot fully compare with IB.

There is one big difference currently between these two brokers. Only interactive brokers currently offers access to U.S. ETF. So, if you want to invest in U.S. ETF, you will need to use IB. This is only the case for etfs, both brokers are giving access to all other U.S. Securities.

The second, smaller, difference is that IB has a custody fee for a portfolio smaller than 100K USD. If you have less than that on your account, you will have to pay 10 CHF each month in custody fee. If you are serious about investing, it should not take you too long to reach that level. But if you do not plan to reach that level, DEGIRO may be a better option.

Aside from these two differences, they are both really good brokers. DEGIRO is a bit more expensive for currency exchange. This makes it a bit more expensive for a swiss investor. On the other hand, degirois cheaper for european securities. So it makes DEGIRO very interesting for european investors.

IB is a bit cheaper and offers very good foreign exchange trading. And it offers tons of features and analysis tools. This comes at the price of complexity. At first sight, interactive brokers is quite intimidating. But it has become better and better over the years. And, as a simple investor, you will only need a small portion of all the features of IB.

Best canadian brokers for stock trading

The stockbrokers.Com best online brokers 2021 review (11th annual) took three months to complete and produced over 40,000 words of research. Here's how we tested.

Canadian citizens looking to invest online in the stock market have a variety of options. Online brokers come in different flavors, from deep discount to full service, while others are known for their trading tools or research.

When it comes to investing in canada, the toronto stock exchange (TSX) is most often cited because it is the 12 th largest in the world, with nearly $2.25 trillion in total assets, according to wikipedia. In most cases, canadians also have easy access to trading securities on both the NYSE and NASDAQ exchanges in the united states, which are the largest and second largest in the world, respectively.

Canada's best online brokers 2021

Here are the top five brokers for trading stocks in canada.

Questrade - best overall

Qtrade investor - best for research

Interactive brokers - best for professionals

TD direct investing - diverse trading tools

CIBC investor’s edge - transparent fees

Stock trading in canada

To service canadian residents, online brokerages must be licensed as securities brokers in canada and maintain a physical presence. The brokers we found that meet these requirements include (in alphabetical order): BMO investorline, CIBC investor's edge, HSBC investdirect, interactive brokers, national bank, qtrade investor, questrade, RBC direct investing, scotia itrade, TD direct investing, and virtual brokers.

Herein we will break down the best online brokers available to canadian residents looking to trade stocks online in canada and the united states.

Best canadian online brokerages

Questrade

4.5 stars - $.01 per share ($4.95 min / $9.95 max)
current offer: $50 trade commission rebate.

For residents of canada, questrade is the best online broker for trading, not only on the canadian stock market, but also the US stock market. The client experience is seamless, the tools are numerous, and commissions are competitive. Read full review

Qtrade investor

4.5 stars - $8.75 per trade

Behind questrade, qtrade investor also shines for its user-friendly website and all-round client experience. Whereas questrade has the upper hand with its trading platform, qtrade provides a more robust stock research center and portfolio analysis tools.

Interactive brokers

4.5 stars - $0.005 per share ($1 min / 0.5% of trade value max)

While interactive brokers is not suitable for casual investors, it leads the industry in international trading and the low-cost commissions professional traders prefer. No online broker in our review matches interactive brokers in fees and trading tools. The trader workstation (TWS) platform is used by professionals and institutional traders around the globe. Read full review

TD direct investing

4 stars - $9.99 per trade

As the most expensive broker in our review, TD direct investing offers investors a diverse set of trading tools and research through its webbroker and advanced dashboard platforms. The broker’s mobile app, TD app, provides a similarly clean experience.

CIBC investor’s edge

4 stars - $6.95 per trade

For casual investors looking for low-cost trades, who are willing to use a broker without all the bells and whistles, CIBC investor’s edge is worth considering. The broker is noteworthy for its transparent account fees and low trading costs across the board.

Trading differences: canada versus the united states

Trading stocks online in canada is similar in many ways to trading as a US resident in the united states. Canadian investors fund an account, make a deposit, then place trades through a web or desktop platform, manage a watch list, and conduct research, just as US investors do.

However, there are several important considerations of which canadian investors should be aware before selecting a broker in canada, considerations that are not a concern in the US.

Annual fees – in the US, it is very rare to see an online broker charge annual fees (also listed as inactivity fees or maintenance fees), whereas in canada every broker does. Questrade is the best in this area, as only $1,000 across all accounts is required to avoid an annual fee. In contrast, for example, scotia itrade, HSBC, BMO investorline, and CIBC investor’s edge all require at least $25,000 for RRSP accounts ($10,000 for non-registered accounts) to avoid paying an annual fee.

Mobile app availability – while every online brokerage offers a mobile app in the US, in canada not every broker does, and the quality can be dramatically different as far as features go. Several of the largest canadian banks, including HSBC and national bank, do not offer clients a separate downloadable app for mobile trading at all.

Trading tools and platforms – the larger canadian brokers do a good job with stock research, thanks to their use of popular third-party providers such as morningstar and recognia, which are also widely used in the united states. However, actual trading tools and platforms can vary significantly among brokers.

Order types – market orders, limit hours, and stop orders are standard across the industry. However, trading US stocks from canada can vary from broker to broker in terms of what is available. This includes after-hours trading. Advanced order types, such as conditional orders, will also vary from broker to broker.

Banking services – banks that offer online trading in the US (for example, merrill edge through bank of america) provide a seamless client experience. Moving money between accounts, changing between bank and brokerage accounts through one login, tax reporting, and similar functionality are all expected to be present as part of the holistic trading experience. This also flows into in-person service at a local branch office. In canada, the client experience can vary significantly from bank to bank.

How to select a good canadian brokerage

Canadian brokerages work hard to stand out against one another beyond branding and marketing. What really matters though is the trading experience you receive once you are a client with a funded account.

Here’s a list of tips to keep in mind to help you select the right broker the first time:

Know your account type beforehand. Are you opening a taxable account or a registered retirement savings plan (RRSP)? If you are starting with a regular account, as many investors do, then at least take the time to explore the broker’s RRSP offering. In particular, check the minimum account balance (or minimum trade activity) requirement to avoid annual fees, which vary by broker. This way, you won’t be surprised when you go to open an RRSP account later.

Does the broker offer commission-free etfs? Exchange traded funds (etfs) have soared in popularity over the past decade. Thousands of etfs are available to buy, and many providers – blackrock ishares, vanguard, and state street global advisors' SPDR are the three largest issuers – now partner with brokerages to make their etfs commission free to customers. Questrade, qtrade, national bank, and scotia itrade all offer them. Our research determined that questrade has the best all-around offering of commission-free etfs.

Make sure your broker supports the asset class you want to trade. If you only trade stocks, options, or funds, then no problem; any broker will service you. However, if you want to trade complex options, forex, or futures, you will need to do your research ahead of time.

For active traders, read the fine print to compare potential service benefits. Discounted commissions are just one perk of being an active trader. Some brokers will increase the quality of the market data being streamed into the account. Others will grant access to better research tools or offer dedicated customer support. For seasoned traders, interactive brokers is king, thanks to its ultra-low trading costs and excellent trader tools.

Customer service. When contacting a brokerage for account-related inquiries, all investors look for fast connection times and helpful representatives to assist them. Like all businesses, support quality and timeliness can vary. For a quick gauge, once you narrow down your selections to two, call both brokerages on the phone and ask them both several questions. This speedy exercise may reveal a lot about what to expect as a client. Tip, call shortly after the stock market opens if you can, which is traditionally when support is busiest.

Account security. Is two-factor login available? What is the broker’s security policy? How are your assets protected and secured on an ongoing basis?

Which bank is best for stock trading in canada?

Many canadian banks offer customers the ability to buy and sell shares of stock. However, the costs to trade are almost always more expensive than using a standalone discount online broker such as questrade or qtrade. In addition, standalone brokerages offer more comprehensive research and better trading tools. All in all, besides the convenience factor, we do not recommend canadians use their bank to invest in stocks.

What is the best stock trading website for beginners in canada?

Questrade is the best canadian online broker for beginners. Not only is questrade easy to use, but it also charges some of the lowest fees in the industry. Questrade is available to all residents of canada, and charges equity traders $.01 per share, with a $4.95 minimum and $9.95 maximum per trade.

Are online stock brokers safe?

When buying and selling shares of stocks as a canadian, it is crucial to use a regulated online broker. The two major regulators in canada are the investment industry regulatory organization of canada (IIROC) and the canadian investor protection fund (CIPF). Canadian brokers like questrade and qtrade are properly regulated, which protects investors in the case of fraud or bankruptcy.

What does a broker do?

Your online broker acts as an intermediary, connecting you to the stock market. When you use an online broker to buy and sell shares of stock, the broker routes your orders a market center to be filled, and you receive the shares. Your brokerage account is where the shares of all the companies you own are held until you are ready to sell.

Best canadian brokers summary

online broker	best for	commission	overall rating
questrade	best overall	$.01 per share	4.5 stars
qtrade investor	best for research	$8.75	4.5 stars
interactive brokers	best for professionals	$.005 per share	4 stars
TD direct investing	diverse trading tools	$9.99	4 stars
CIBC investor's edge	transparent fees	$6.95	4 stars

Best metatrader brokers 2021

The forexbrokers.Com annual forex broker review (five years running) is the most cited in the industry. With over 50,000 words of research across the site, we spend hundreds of hours testing forex brokers each year. How we test.

Having used metatrader 4 (MT4) and metatrader 5 (MT5) for more than a decade, I wanted to create a comprehensive guide for traders. In this guide, I will breakdown the best brokers for metatrader 4 and answer the most common questions about the trading platform.

This MT4 guide starts with basics that will help beginners and then progresses to more advanced topics, such as social copy trading and using automated trading systems.

Best metatrader (MT4) brokers

IC markets - best overall for metatrader

FP markets - full metatrader suite, competitive pricing

XM group - metatrader with custom indicators

Pepperstone - metatrader suite with addons

Fxpro - metatrader suite, average pricing

Vantage FX - metatrader suite, great pricing for higher balances

Swissquote - metatrader suite, swiss bank

Best overall for metatrader - visit site

IC markets caters exceptionally-well to algorithmic traders through its commission-based accounts. Third-party research and trading tool plugins are part of the IC markets metatrader platforms offering, making it our number one metatrader broker in 2021. (74-89% of retail investor accounts lose money) read full review

Full metatrader suite, competitive pricing - visit site

FP markets' low effective spreads (raw ECN account) combined with its platform add-ons and access to over 130 tradeable symbols is a winning combination in 2021. Like other best MT4 brokers, the full metatrader suite is available. (the vast majority of retail investor accounts lose money) read full review

Metatrader with custom indicators

XM group is a vanilla metatrader broker that offers the complete metatrader suite, along with a few notable upgrades to enhance the experience, in addition to custom indicators. Trading tools aside, XM group’s research offering is rich with depth and variety, challenging industry leaders such as IG and saxo bank. (77.55% of retail investor accounts lose money) read full review

Metatrader suite with addons - visit site

While pepperstone offers a small set of tradeable products, it provides one of the largest selections of third-party platforms, including multiple social copy trading options. Pepperstone's smart trader tools module, developed by FX blue LLP, brings a dozen platform add-ons that enhance the default metatrader experience if you have a balance of over AUD 500. (between 74-89% of retail investor accounts lose money) read full review

Full metatrader suite, average pricing - visit site

Besides offering the full metatrader suite, fxpro stands out for its execution methods, with both agency and market-maker execution available by account type. While not a discount broker, fxpro does offer an active trader program that can help high volume traders reduce their trading costs. (80.59% of retail investor accounts lose money) read full review

Metatrader suite, great pricing for higher balances

Vantage FX offers the full metatrader suite, which includes the smart trader add-ons. While not a discount broker on its main accounts, if you deposit $20,000 to access the PRO ECN account, vantage FX offers low effective spreads with commission comparable to pricing leaders. (74-89% of retail investor accounts lose money) read full review

Metatrader suite, swiss bank

Traders willing to pay a premium to have their brokerage account held with a swiss bank choose swissquote for its competitive, multi-asset offering. Like its competitors, swissquote offers the full metatrader platform suite. (79% of retail investor accounts lose money) read full review

Metatrader 4 brokers list

Is metatrader 4 a broker?

No. Metatrader 4 is a third-party trading platform that connects to a broker for forex trading. Metatrader 4 is the most popular third-party platform for trading forex. Alongside MT4, ctrader is another popular trading platform.

Instead of metatrader, some brokers build their own custom trading platforms in-house. Based on assessing 27 brokers in our 2021 review, the best forex brokers offer proprietary platforms.

Metatrader platforms comparison

Using data from our forex broker comparison tool, here's a comparison of the metatrader platforms offered by the best MT4 brokers.

Feature	IC markets visit site	FP markets visit site	XM group	pepperstone visit site
proprietary platform	no	no	no	no
desktop platform (windows)	yes	yes	yes	yes
web platform	yes	yes	yes	yes
social trading / copy-trading	yes	yes	yes	yes
metatrader 4 (MT4)	yes	yes	yes	yes
metatrader 5 (MT5)	yes	yes	yes	yes
ctrader	yes	no	no	yes
duplitrade	no	no	no	yes
zulutrade	yes	no	no	no

Who created metatrader?

Founded in 2000, metaquotes software corp is the developer of metatrader4 (MT4) and metatrader5 (MT5) software. The metatrader suite, which is licensed by brokers and offered to traders, is one of the most widely used trading platforms for retail forex and cfds trading globally.

How do I get a broker for metatrader?

We spent three months testing 27 different forex and cfds brokers, then compiled a list of the best metatrader 4 brokers. Our top pick for 2021, IC markets, offers the full metatrader suite alongside competitive pricing, add-on trading tools, and quality market research.

Once you decide on a broker you want to use for MT4, you simply open and fund a brokerage account. Thereafter, you can start trading forex and cfds with MT4. Alternatively, most brokers offer demo accounts so you can use virtual funds to practice trading before funding with real money.

What is the difference between MT4 and MT5?

Metatrader 4 (MT4) is based on a prior generation (version) of software, whereas metatrader 5 (MT5) is the latest version. In addition to cfds and forex trading, MT5 can support stock trading and futures trading, making it more of a multi-asset platform.

MT5 also includes advanced functions like utilizing cloud-storage to run strategies and to conduct backtesting. With MT4, backtesting must be done locally or through a virtual private server (VPS).

Overall, while MT5 looks and feels similar to MT4, MT5 is a more modern, faster trading platform. Despite the underlying advantages of MT5, MT4 is still more widely available and used.

Metatrader charts

Both metatrader 4 and 5 provide an easy-to-navigate layout. For charts, 31 different charting tools are provided alongside 51 technical indicators, providing traders a good starting point for performing basic technical analysis.

In terms of layout, customizable chart templates can control how default charts appear. Traders can save all their charts into a profile so the entire workspace is backed up, including all trend lines and chart configurations.

Lastly, it is worth noting that a web-based version of both MT4 and MT5 are available, although the web-based versions are not offered by all brokers and do not support automated trading as the desktop versions do.

Does metatrader support copy trading?

The signals market available on the MQL5 community enables users to copy the live trades of approved signal providers. Also known as social copy trading, each signal provider charges a different subscription fee for access.

Does metatrader support automated trading systems?

Yes. Expert advisors (eas) are used in the MT4 and MT5 platform to run automated trading systems. An EA will either be a copy of the original .MQ4 file that contains the source code, which can be modified, or it will be an .EX4 (executable) file of the same code, which cannot be tampered with and is often chosen by those who want to distribute their strategies without revealing their source code.

Most eas have a range of customizable parameters that let users specify the position size and risk/reward-related attributes, among other elements, that may be configured before automated trading is enabled.

Does metatrader support developers?

Today, MT4 and MT5 have extensive documentation, codebase, and articles to help developers create algorithmic trading systems. The metaquotes language (MQL) syntax enables programmers to create automated scripts and trading systems.

The proprietary MQL language supports custom scripts, utilities, libraries, indicators, and automated trading strategies known as expert advisors (eas). The metatrader developer ecosystem continues to evolve each year.

Does metatrader support backtesting?

Backtesting, or using historical data to assess how a strategy would perform in the past, is an important part of assessing the quality of any automated trading system. With MT4 and MT5, backtesting enables traders to see how an EA would have performed over a historical period of time for a requested instrument, e.G., currency pair.

When an EA is built and then tested on historical data for the first time, this is known as testing on out-of-sample data, which means the EA has never used these historical prices (in which case the result will not have the benefit of hindsight).

What are the risks of backtesting?

While backtesting is used by traders, it is also used by the signal creators too. Some developers may optimize their strategies over a historical data set (i.E., run it multiple times over the past three months of EUR/USD tick data) on purpose, which can lead to curve-fitted results.

While there can be some benefits to optimizing a strategy using historical data, results of a curve-fitted strategy can be misleading as only the best trades are cherry-picked, and the results of forward-testing the same strategy can be significantly different. Therefore, forward-testing a strategy can be even more important than backtesting it, before the value of results can be assessed.

Is automated trading with metatrader risky?

Yes. Experts, which are automated trading systems in MT4 and MT5, are built by traders and rely on backtesting to prove their profitability. As the famous market adage says, "past performance is not indicative of future results." the problem with automated strategies is that they rely on the benefit of hindsight bias. The reality is that very few trading systems are profitable over the course of an entire year.

Therefore, while there can be pros to using an automated strategy, traders must be aware of the pitfalls and know how to assess any strategy before using it to manage their investment capital.

Here are several tips to help you select a good automated trading strategy:

Research and learn the trading methodology (strategy) the expert advisor follows for their automated strategy.

Backtest the strategy across multiple instruments/timeframes, if possible, and examine its historical performance (if available).

Compare the subscription cost and historical performance to similar automated strategies.

Once you decide on a strategy, test the strategy with a small amount of capital first, then slowly increase your investment size over time.

Which MT4 broker is the best?

When it comes to forex trading on metatrader 4 (MT4) in 2021, the best MT4 broker is IC markets. IC markets offers the full metatrader suite alongside competitive pricing, add-on trading tools, and quality market research.

Is metatrader 4 only for trading forex?

The metatrader 4 (MT4) platform is predominantly for forex trading. However, depending on the broker, MT4 often comes with a range of other symbols such as cfds on indices, commodities, futures, energies, and metals.

What are "expert advisors" in metatrader?

When using metatrader platforms, such as metatrader 4 (MT4) or metatrader 5 (MT5), there are automated trading systems known as expert advisors (eas), or experts for short. Experts are not humans. Instead, they are the automated trading systems created by traders to execute a trading strategy.

Final thoughts

When selecting a metatrader broker, traders should consider the trustworthiness of the broker (where it is regulated), the number of tradeable securities offered, pricing, customer service quality, and any available addons offered beyond the default metatrader experience.

All in all, metaquotes has proven itself to be a trusted leader in developing forex and multi-asset trading platforms for online forex brokers and retail traders globally.

To sign up for a live forex account or demo trading account with a metatrader broker that offers MT4 or MT5, see our list of reviewed brokers above to choose a broker that best suits your overall trading needs.

Summary

Here's a summary of the best forex brokers for metatrader.

Methodology

For our 2021 forex broker review we assessed, rated, and ranked 27 international forex brokers. Each broker was graded on 108 different variables and, in total, over 50,000 words of research were produced.

While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.

All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors quality data they can trust. Learn more about how we test.

Forex risk disclaimer

"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." learn more.

About the author: steven hatzakis steven hatzakis is the global director of research for forexbrokers.Com. Steven previously served as an editor for finance magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.

Trading cfds, FX, and cryptocurrencies involve a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading cfds with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how cfds, FX, and cryptocurrencies work. All data was obtained from a published website as of 12/14/2020 and is believed to be accurate, but is not guaranteed. The forexbrokers.Com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

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Brokers

Regulated forex brokers

When viewing the forex broker or a trading platform, it is the paramount priority to choose from the hundreds the most reliable one and the best forex provider, as it will determine the whole trading experience. Indeed, doing research and compare the vast number of forex brokers with many aspects to consider, maybe not an easy choice, as well time-consuming. So here we are ready to assist your selection and answer the most common questions.

Can I trade forex without a broker?

This may be the first question you would ask, as indeed forex market, FX or currency market is the largest global non-centralized exchange where trading process performed electronically via networks. While main forex participants are international banks and financial institutions operating huge volumes through a need to exchange currencies, presented as currency pairs, and assist international business with the conversion which is known as the interbank market.

Therefore, in order to trade fx you should be authorized dealer to do so, as well as operate a quite sufficient amount so before forex brokers were introduced to retail traders and global community it was not possible for trade markets. For this reason, forex trading brokers are the companies or agent if you like that gives retail forex traders access through its platform to operate forex market and trade various markets including commodity futures, indices, bonds, etc.

Do I need license to trade forex?

So this is another pleasant and great opportunity which is given by forex brokers, as you may access trading without financial or dealer license. Moreover, there are hundreds of opportunities with a relatively small investment which allows you to trade forex, do technical analysis and analyze markets almost instantly.

Are forex brokers regulated?

And now we will check the most crucial question if forex broker can be regulated, since the market is decentralized, and is it safe to trade forex? Obviously, this is the biggest trump you may fall as a retail trader if you choose a non-reliable, mainly non-regulated or offshore firm without a proper license you may easily fall into a scam and lose money.

So due to increasing demand and mainly that traders got no easy access to trading or financial education, the world countries established particular organizations or authorities in order to oversee the market proposals and regulate forex broker firms. So yes, forex brokers are regulated while holding a license from a local authority alike world known FCA in the UK, ASIC in australia, commodity futures trading commission CFTC in the USA, MAS in singapore and more.

What does a regulated broker mean?

The whole concept of regulation is to oversee forex business in a particular country or region, protect clients and ensure safe conditions while trading forex. So in simple words, regulated broker means a safe and legit broker that is compliant to various rules and criteria set by the international authority with the purpose to provide secure trading and good customer service. So its trading environment and provided services like technical analysis, education and tools are also aligned to the best practices.

In addition to its constant check on the service providing, authorities protecting clients throughout compensation schemes and other security checks, however, these conditions may vary from the regulator to another.

How do I know if my forex broker is regulated?

In order to check if broker is regulated or not, you should verify this information through the official brokers’ website first, as regulated companies always provide its licenses. And the next step is to verify a license through the official regulatory website. However, in our forex broker review you will find all the necessary information and license check as well.

It is a fact, unscrupulous brokers may easily fake information and assure you of its license while its not true, so always verify information through the official source. As well, adhere to trade with brokers regulated in serious jurisdictions, not the offshore once, as they luck of strong regulation, requirements and necessary safety measures. Read more by the link why avoid brokers from st vincent & the grenadines.

How to choose best forex broker?

Security of funds is always first in forex trading, for that reason, we recall your attention to open an account with regulated brokers only. Making it simple, regulated broker means that you will trade forex with proper security of funds and investment itself, so first of all good broker is a sharply regulated broker.

Further on, you should also check the necessary conditions and select offer suitable for you and trading strategy you deploy.

For this reason, we assist your selection and provide an assortment of efficient regulated brokers with updated on a weekly basis in-depth forex broker list. A professional detailed analysis with trading fees account overview, platform breakdowns while sorted by regulation, country or trading conditions, along with traders comments so smarter decision is easier now.

So, let's see, what we have: looking for the best trading platform in the UK. Reviews and comparisons of the eight best trading platforms in 2021 for UK users. All regulated and safe. At best broker