If you're a beginner looking to get started in forex trading, you've come to the right place. Whether you want to try your hand at it or you're a seasoned pro, there are a number of apps on the market that can help you do just that. Here are a few to consider.
eToro
If you're interested in learning how to trade forex, you may want to check out eToro. The company offers a full trading academy with dozens of videos. You can also sign up for a free demo account.
eToro has a user-friendly interface. It is also easy to deposit money into your account. In addition to fiat currencies, you can use cryptocurrencies such as bitcoin and ethereum. However, there are fees associated with these transactions.
eToro's charting tools are quite powerful. They allow you to compare multiple charts on one screen. The company's proprietary tool, ProCharts, has 66 indicators and 13 drawing tools. This means you can easily monitor your positions across time frames and instruments.
Although eToro is not as specialized as its competitors, it does offer several useful features. These include a custom watchlist, which allows you to monitor volatility. Also, you can choose to receive alerts when a certain level of volatility is reached. eToro's mobile app has a simple, social-media feel.
Another interesting feature offered by eToro is its popular investor program. This service allows users to copy the trading strategies of other traders. Traders can be eligible for this program if they have at least $500 in customer assets and a risk score of less than seven. eToro will make payments to them in monthly installments.
eToro's educational section is a bit of a letdown. It provides basic financial guidance and presentations, but lacks in-depth analysis and goal-planning.
eToro does offer copy trading, which is a useful feature. However, beginners will find it difficult to select traders to copy. As such, it's best to consider a trader's average profit, as well as the number of trades he makes each week.
XTB
XTB is a forex trading app for beginners that offers a range of tools and services to help you become a successful trader. You can also use the mobile version of the platform. This version includes an economic calendar and other helpful tools, plus the ability to create a custom watchlist and bulk order closing.
In terms of trading, XTB offers a wide variety of assets. The platform allows users to access 48 currency pairs, a large number of indices, commodities and more. Despite offering so many instruments, the company's spreads start at just 0.1 pips.
XTB also features an extensive education section. The platform offers tutorials on everything from the basics of forex to advanced trading techniques. These tutorials include lessons on risk management, technical market analysis, fundamental analysis, and more.
XTB's xStation5 is a powerful, easy-to-use, and user-friendly trading platform for beginners. It also has a number of features to keep the experienced trader happy. Among them are the ability to place time-limit orders and automate trading with EAs.
XTB's mobile version is also a popular choice among traders. The mobile version of the platform includes an economic calendar and other useful tools, as well as the ability to create a custom watchlist.
In addition to the xStation5 app, XTB offers a wide array of payment options, including credit and debit cards, e-wallets, and bank transfers. However, some methods may carry a fee, and others require that funds be cleared first.
XTB also has a smartwatch application for Android and iOS devices. This allows users to trade markets with a few taps of the wrist.
XTB's client support is available 24 hours a day, seven days a week. Clients can choose between email, live chat, and phone support.
OANDA
Oanda is an online brokerage that offers traders a number of different features. In addition to its trading platforms, Oanda provides educational resources, risk management tools, and economic analysis.
If you're a beginner, you'll appreciate Oanda's low minimum deposit and no-fee trading. Also, the company offers advanced risk management technology, which gives traders the tools to protect their accounts from negative balances. The broker accepts several popular payment methods, including Mastercard, Visa, and debit cards.
For more experienced traders, there are also advanced analysis tools. These include visual market data analysis, trend-following charts, and technical analysis indicators. All of these tools use historical data from the past six months.
The OANDA trading platform is available on desktop, web, and mobile. It allows traders to choose from a variety of chart layouts and order types. Traders can also enter and exit positions directly from live charts.
OANDA's educational resources are extensive. Users can access a variety of instructional videos, reports, and demo accounts. Most of the materials are in multiple languages.
Unlike many other brokers, OANDA offers a no-fee trading account. You can use your debit card, mastercard, or bank wire to deposit and withdraw funds. Additionally, you can choose between a basic and premium account.
Using a demo account is a great way to test a trading platform and strategy. Once you're comfortable, you can switch to a live account. However, you'll need to confirm your employment status, home address, and deposit amount before opening an account.
OANDA's customer service is also good. They offer chat, phone, and email support. Whether you have questions about your account or need to place a trade, the customer service staff is happy to help.
SuperForex
If you're interested in trading Forex, stocks, indices, commodities and cryptocurrencies, then SuperForex might be the right broker for you. It offers a wide range of products and services, and is regulated by the International Financial Services Commission in Belize.
Traders have a choice of three different types of accounts, allowing them to choose the one that suits their specific trading needs. You can also open a demo account and try it out risk-free.
Once you have decided on an account type, you'll need to fill out a short online form. After this, you'll be given a welcome message and an opportunity to view the platform's features. Then, you'll need to confirm your account by submitting a deposit amount, and choosing your preferred deposit method.
The minimum deposit requirements vary for each type of account. For the managed portfolios, you'll need to make a deposit of at least PS100.
When you open an account, you'll have access to educational resources and a variety of spreads. Also, the brokerage has a dedicated customer support team available to answer questions.
SuperForex is also a regulated brokerage, and you can find out more about how it protects your investment. This is known as the Deposit Protection Program, and it enables you to recover any investment funds that are lost or stolen.
The SuperForex mobile app is a great way to trade, and it's available for download to both iOS and Android devices. Using the application is very easy.
You can even get access to the company's 24-hour support desk. The customer support team can be reached via phone or email. They also have a private Facebook group for members.
TD Ameritrade
If you are looking for a stock broker that offers a range of trading options and great customer support, consider TD Ameritrade. This company offers a number of account options and has been ranked one of the best brokers for beginners. It also has a variety of educational resources, including a comprehensive learning center.
TD Ameritrade allows its clients to trade a wide variety of financial assets, including stocks, futures, forex, and even retirement accounts. Clients have the choice of two platforms: the web platform and the mobile app. Traders can leverage a variety of analysis tools and screening features to get the most out of their investment.
The TD Ameritrade Mobile app provides traders with the same capabilities as the web platform, including futures trading and complex option ordering. The mobile app is especially well-suited for advanced traders, and features an easy-to-use design that makes navigating the site easy.
When you first sign up for a TD Ameritrade account, https://hnmag.ca/quick-takes/5-movies-on-netflix-canada-that-will-teach-you-stuff-about-investing/ be asked to fill out an online form and answer security questions. Afterward, your application will be confirmed within 1-3 business days. You'll then need to fund your account before you can make your first trade. For US customers, you'll need to complete a wire transfer.
TD Ameritrade provides a comprehensive set of investment products, including futures and futures options, ETFs, and mutual funds. Moreover, it offers commission-free trades on ETFs.
TD Ameritrade offers a number of educational resources, including webinars and a blog on Ticker Tape. In addition, a Virtual Investment Consultant can help you get started. He or she will guide you through tutorials and data, and will answer specific questions.