Best 8 Online Forex Trading Platforms 2023: Pros, Cons, and More

You’ll need to find a reliable online broker to get started with forex trading. The correct forex broker is essential for success in the international currency market.

As an experienced forex investor or contract for difference (CFD) trader, you may have unique trading tools, platforms, and research requirements.

Prime XBT is our top option for the best Forex trading platforms in 2023, based on characteristics like the ease of use, variety of features, inexpensive pricing, and good customer support.

Please continue reading to discover the best Forex trading platforms in 2023, including their pros, cons, account types, features, and costs.

1) Lite Forex: Best Forex Trading Platforms for CFDs on Commodities

Best Forex Trading Platforms Online


  • Five days a week, excellent customer assistance is available around the clock.
  • Extensive resources for financial knowledge and trading education
  • Access to a variety of FX pairs with fair spreads
  • Low-cost design


  • Restricted to traders in 28 countries
  • Only US-listed firms are permitted to trade shares.

LiteForex is the best trading platform, providing access to forex and CFDs on commodities, equities, indices, and cryptocurrencies. It facilitates trading with its mobile app and internet platform. There is also the well-known MetaTrader platform for PC trading.

LiteForex is a Straight Through Processing (STP) broker that does not have a trading desk and transfers customer orders straight to liquidity providers. LiteFinance Global is a company based in St. Vincent and the Grenadines.

LiteForex’s European division (CySEC) has its headquarters in Limassol, Cyprus, and is regulated by the Cyprus Securities and Exchange Commission.

LiteForex’s user-friendly, one-of-a-kind web platform has a variety of built-in capabilities, including Copy Trading. In addition, this broker is differentiated by a useful library of educational DVDs that thoroughly explain trading strategies.

LiteForex customers get access to a personal account manager who may provide guidance and help. Because it contains helpful research, educational tools, and an easy-to-use interface, LiteForex is a good broker for beginner traders.

Among the fundamental trading assets offered by LiteForex are over 50 distinct currency pairs and more than 20 different cryptocurrency pairings.

Customers can also trade the equities of over 40 major American firms, important stock indices, and numerous commodities CFDs through the broker.

MetaTrader 4 and 5 (MT4/MT5) are the only two best forex trading platforms given by LiteForex, on which all trading instruments supplied by the broker may be executed.

Although some traders may find this boring, it ensures a smooth transition from other brokers’ platforms for those already familiar with them.

Sticking with MT4 and MT5 also provides access to the huge variety of Expert Advisors (trading algorithms) accessible for both platforms as paid and unpaid trading strategies.

Customers at LiteForex can register with a “Classic” or an ECN (electronic communications network) account. While the ECN account provides the most competitive spreads, all transactions are subject to commission fees.

The Traditional Account has commission-free transactions but much wider spreads.

As expected, traders with large trading accounts gain more from the ECN model. In contrast, smaller traders and those new to the forex market benefit more from the Traditional forex trading account.

All trading account options at LiteForex may be funded using typical funding methods such as major credit and debit cards, bank wire transfers, and the e-wallet services Skrill and Neteller.

LiteForex also provides financing solutions for various other payment methods, including the well-known cryptocurrencies Bitcoin, Bitcoin Cash, Litecoin, and Ethereum.

Given the chance that traders from the EU may be allowed to register with Liteforex’s offshore branch, trading leverage may be exceedingly high with this broker. However, compared to some of its competitors, LiteForex’s spreads are, regrettably, still somewhat wide.

For customers’ convenience, the live chat feature on the LiteForex site is open 24 hours a day. Another distinguishing element of LiteForex is its community, which includes forums and online chats where traders may communicate and help one another with various issues.

Last but not least, assistance may be contacted by dialing a phone number registered in the United Kingdom, available from 9 a.m. to 9 p.m. (GMT +2), Mon day through Friday.

2) Prime XBT: Best Forex Trading Platforms Overall

Best Forex Trading Platforms Online


  • Copy-trading.
  • A Platform for Multi-Asset Classes
  • Easy Registration
  • Low costs
  • Fiat acquisitions.


  • Demo accounts are not available right now.
  • Fiat currency cannot be withdrawn from PrimeXBT.

It is a financial firm specializing in trading unfamiliar currencies and CFDs and is regulated by the FCA, the United Kingdom’s internationally famous financial regulatory organization.

The company was created in 2002, and it has since gained the trust of online traders due to its track record of secure transactions and defined rules on financial transaction transparency.

Prime XBT offers a wide selection of tradable assets with a heavy concentration on CFDs, with five markets comprising Commodities, Cryptocurrency, ETF, Stock, and Stock Index.

Only a select group of European customers are allowed to acquire the ETF. Thus it is built with exclusivity in mind.

Foreign Currency pairs, which number only 49 and rank second among Prime XBT’s most well-known competitors, are the only legitimate assets for all traders to trade.

Prime XBT outnumbers other brokerages’ Stock Index CFD offers by having 42 available, compared to the average of 15.

The company provides 25 cryptocurrency CFDs, while other well-known companies only supply up to 16.

Only a few European traders can access the company’s genuine ETFs and Equities. They are banned in Cyprus, Hungary, Italy, and the United Kingdom.

It must be noted that the Stock offering appears to be the more profitable of the two; it is on par with the more reputable company, given the variety of goods you may trade.

“The ETFs” are numerous. However, Prime XBT still outperforms its competitors when compared to them. There are just 220 ETFs in total.

Prime XBT provides live chat and email assistance 24/7. The support crew is responsive and educated, assisting with various concerns, including technical issues, account verification, and trading-related inquiries such as how to trade cryptocurrency.

Prime XBT customers can utilize two of the best forex trading platforms. The first is the enterprise standard MetaTrader 4, and the second is xStation 5, an XBT-created trading platform.

As the community is well aware, MT4 is a trustworthy platform that provides fully customizable charts, a broad range of trading tools such as technical indicators and trading signals, and various instructional features.

The software has a very user-friendly UI and is very fast. As a result, MT4 is popular and is frequently deployed. So naturally, a company that can develop its software is admired.

Prime XBT’s xStation 5 program is accessible in 19 languages, including Arabic, German, English, and Russian.

Despite its professional appearance, the interface is user-friendly, especially for unskilled users. It also may be changed without a complicated operation.

The review team only found that the security of xStation 5’s login needed to be improved. For example, it uses a single login level rather than the more secure two-level login mechanism.

Orders may be placed on the MT4 platform utilizing the Market, Limit, Stop, and Trailing Stop order types. Furthermore, Prime XBT is classified as having a GTT order time rule, which stands for “Good ’til Time.”

Both of the best forex trading platforms feature mobile apps compatible with Android and iOS, making them both accessible. Furthermore, these are also available online.

The Standard Account and the Pro Account are two types of Prime XBT accounts that are completely digital and do not require minimum deposits. As a result, the former offers wider spreads while charging no commissions, while the latter offers smaller spreads while charging commissions.

It should be noted that accounts established in the area for European customers may be converted into Islamic Accounts, commonly known as Swap-Free Accounts.

The brokerage no longer offers Basic Accounts. However, customers can open Corporate Accounts.

For the account creation procedure, the relevant identity documents must be presented. The method is more complicated for European customers, who must submit a video establishing their identity.

If this is problematic, they must scan their title documents, such as their passport or driver’s license.

Payment and funding choices include credit and debit cards, and withdrawals and deposits are free.

3) Justforex: Best Forex Trading Platforms for Multi Assets

Best Forex Trading Platforms Online


  • Leverage options vary from 1:1 to 1:3000.
  • Allowed are hedging and scalping techniques
  • Several useful resources include technical analysis, news, predictions, and cryptocurrency analysis.


  • Not regulated by FCA
  • Does not permit EAs

It is a multi-asset best forex trading platform with over 154 traded assets. JustForex provides access to Social Trading, Forex Trading, Social Trading, Spread Betting, and Share Dealing assets.

Different products and assets are available to you on the JustForex trading platform, depending on where you are in the world and which JustForex company you have an account with.

JustForex requires a minimum deposit of $100. You may open a demo account to become acquainted with the JustForex best forex trading platform.

JustForex can accommodate you whether you are a rookie or an experienced trader.

All customers of JustForex have access to the entire range of underlying assets offered by this broker, which includes more than 60 well-known forex pairs, a sizable number of cryptocurrency teams, contracts-for-difference (CFDs) based on stock indices and natural gas, as well as a type of agricultural commodities.

This broker also offers to trade in bond futures and single stocks of companies with headquarters in the United States and Europe to traders interested in those markets.

Despite not having the industry’s greatest selection of cryptocurrencies, JustForex’s offering is quite solid in this area. This includes the most well-known cryptocurrencies, such as Litecoin, Bitcoin, Ethereum, EOS, and Dash.

JustForex only permits trading in cryptocurrencies against the US dollar.

JustForex has decided to remain with the classic and perennially famous MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, which both have desktop, Apple iOS, web, and Android mobile device versions.

This, as usual, helps ease the transition from other brokers to JustForex by providing traders with a familiar trading interface.

JustForex offers three unique account types to its customers, depending on how much they want to deposit and the types of assets they wish to trade:

A Standard Cent account on the MT4 platform is available for novices and those willing to test out forex trading with a small deposit of only USD 1.

This account has the fantastic benefit of commission-free trading, which allows new traders to explore the market with minimum commitment and without paying commission charges.

The Standard account, accessible on MT4 and MT5, is identical and different because it has a larger lot size.

JustForex offers a standard Pro account and a Raw Spread ECN-type account for retailers with a bit more money with a deposit of USD 100 or more.

The ECN account is still popular among major traders since it offers very tight spreads and charges only a little commission on each transaction.

But for the Basic Cent account, all of JustForex’s accounts feature a tremendous leverage that may reach 1:3,000. So overall, JustForex may be a solid option for traders looking for the most leverage.

JustForex provides 24/7 live chat, email, and phone service in English.

Furthermore, the customer service team at JustForex may be contacted via Telegram, WhatsApp, Facebook Messenger, and Line.

4) : Best Forex Trading Platform for Leverage

Best Forex Trading Platforms Online


  • Options for free deposits and withdrawals
  • Quick and simple account opening
  • Superb research resources


  • High costs for idleness
  • Available only in CFDs, FX, and cryptocurrencies

AvaTrade is subject to regulation on multiple continents due to its companies in Ireland, Australia, South Africa, Japan, the United Arab Emirates, and the British Virgin Islands. Regrettably, it is unregulated in certain nations, including the United States and the United Kingdom.

AvaTrade accepts customers from various nations, with a few exceptions, such as the US, Iran, and Belgium.

A wire transfer, credit card, or debit card may be used to deposit money into your AvaTrade account. A minimum deposit of 100 euros (or comparable local currency) is required.

AvaTrade accounts may be extended in US and Australian dollars, Euros, or British pound sterling, depending on where you are based.

A demo account is another option. You will be given a $100,000 virtual amount to test the best forex trading platform without risking your money. Because AvaTrade is a CFD broker, real equities cannot be traded.

You can trade forex with AvaTrade. There are approximately fifty distinct currency combinations available. First, the most well-known exchange rates are included, such as EUR/GBP, EUR/USD, GBP/USD, EUR/JPY, and EUR/AUD.

Contracts for difference (CFDs) can be traded on various financial products, including equities, cryptocurrencies, key indexes, commodities, European and Japanese bonds, and over 60 ETFs.

On AvaTrade, direct cryptocurrency purchases are prohibited. However, it provides customers the opportunity to trade CFDs on cryptocurrencies.

Trading forex options is possible. To trade with AvaTrade, you may utilize market orders, stop-loss orders, limit orders, and take-profit orders.

Please be aware that orders (such as stop-loss orders) cannot be guaranteed. For example, if the market is volatile, the order will be executed at the following price.

Since different nations allow different amounts of leverage, you will have more or less power depending on your location.

Furthermore, different products have differing amounts of leverage; for example, in the UK, leverages may range from 2:1 (for crypto CFDs) to as high as 30:1. (In the case of Forex CFDs). Regrettably, unlike other CFD traders (such as eToro), you cannot lower the leverage for your transactions.

AvaTrade may charge you a little interest fee if you still have open positions at the end of the day (10 p.m. GMT).

AvaTrade is a simple online broker that allows you to trade using your browser. You may also trade using the well-known (third-party) programs MetaTrader 4 and MetaTrader 5.

It also provides trading apps for Android and iOS mobile devices and tablets. Again, these apps are rather appealing. On both Apple App Store and Google Play, the AvaTrade app has a rating of roughly 4.5.

5) FXTM: Best Forex Trading Platform With High Floating Leverage and Fast Execution.

Best Forex Trading Platforms Online


  • The minimal deposit is $10.
  • Several types of trading accounts
  • MT4 and MT5 are the two most widely used trading systems.
  • Several different training resources
  • The capacity to trade using automated software


  • Sunday and Saturday are off days for the broker.
  • The sole investment option available is copy trading.

The Traders Union has worked with FXTM for several years, and during that period, the broker has earned a reputation as a reliable partner who keeps its promises. Furthermore, the firm’s trading conditions are excellent.

Customers can choose between trading accounts for seasoned traders and newbies. The broker evaluates its managers for investors based on various factors, including risk profiles.

ForexTime is reported to welcome newcomers to the foreign exchange market and pros who design their trading strategies. So yes, there have been no notable criticisms of the company’s work.

The FXTM support service promptly responds to any trading inquiries.

The user interface of this best forex trading platform allows consumers to quickly examine the broker’s capabilities and judge whether or not its trading circumstances are adequate for active trading and investment opportunities.

The organization provides several competitive advantages. Even some drawbacks, including delayed withdrawals and limited investment programs, keep the broker from topping the Traders Union ranking.

ForexTime, which has a good reputation, is one of the most popular brokers among Traders Union customers. By providing clear trading terms, expert help, and services, the broker enables its customers to begin trading in forex with small initial deposits.

Furthermore, FXTM offers its FXTM Invest copying trades service. Both skilled and inexperienced investors may utilize this trader to produce passive money by sponsoring the trading strategies of seasoned traders.

The best forex trading platform places a major emphasis on collaborating with clients who engage in both active and passive trading.

The company provides a service for repeating trades, allowing you to make money without being an expert trader. Instead, the broker ranks its managers based on performance, risk tolerance, and trading strategy.

Every trader with an FXTM account can work with a broker. In addition, each user’s account contains a unique referral link that they may utilize to bring in more customers for the broker.

ForexTime is constantly striving to improve the trading environment for its clients. For newbies, the firm asks a $10 minimum deposit on a cent account.

Trading in micro-lots is open to all account types, with leverage ranging from 1:3 to 1:2000 based on the type of account and trading assets.

Stop-outs begin at 20% and end at 50% of the total. Furthermore, transactions on the Micro account are carried out instantly.

6) Traders Union: Best Forex Trading Platform for Customer Service


  • Offers a wealth of information and resources, including research, analysis, and broker ratings.
  • Provides legal assistance
  • Provides broker ratings
  • Access to client testimonials


  • Limited information or resources for traders in certain regions or countries

The Traders Union primarily functions as a resource for traders and investors, giving valuable information. However, experienced financial analysts choose and alter the material for different audiences.

As a result, the website contains information for both beginner and experienced traders, making it one of the best forex trading platforms. In addition, the platform provides traders with various instructional resources, such as articles, videos, webinars, and tutorials covering various trading themes, such as technical and fundamental research, risk management, trading psychology, and more.

These instructional resources can be useful for retailers of all skill levels, from beginners to experienced traders who want to expand their knowledge, improve their trading techniques, and learn about the main considerations before investing in cryptocurrencies.

The TU team frequently researches essential topics and updates, creating and producing new broker profiles. On the Traders Union website, you may find information regarding the trading policies of over 600 brokerage firms.

Client testimonials are published in each broker profile, allowing customers to read about the organization’s benefits and downsides from the perspective of active traders.

The community-driven approach of the Traders Union provides a platform for traders to network, share ideas, and exchange information. Members can communicate, learn from one another, and grow their trading network on the platform’s forums, social networking features, and traders’ blogs.

The online platform provides both information and legal counsel. Anyone who signed up for a broker through the Traders Union referral link can access it. Then, without charging a fee, the TU legal team arbitrates disputes between brokerage firms and their customers.

TU also offers possibilities to supplement your income through the financial markets. For example, traders and Union analysts also issue broker ratings.

Dealers may use them to choose a firm to trade on various financial markets, such as Forex, stocks, and binary options. The Traders Union website also publishes ratings of digital banks, cryptocurrency exchanges, and payment systems.

To ensure that the evaluations are neutral and objective, TU specialists analyze a company’s credibility, dependability, customer service, technical assistance, and other factors in addition to its trading circumstances.

Compiling the grades also necessitates analysis of client testimonials submitted by brokers on the TU website. The experts review the firms monthly and update the ratings based on numerous factors.

Traders Union offers customer service by email, chat, and phone. While customer assistance options are accessible, some users have observed delays or a lack of responsiveness in customer care, which may be improved.

7) EagleFX: Best Forex Trading Platform for Offering Traders Around the World Competitive Trading Conditions


  • The best forex trading platform utilized is MetaTrader 4.
  • There are no commissions for non-trading activities.
  • EagleFX provides a multi-tiered affiliate scheme.
  • There are many methods to contact the broker’s support staff.
  • The trader may utilize the demo account for as long as he deems appropriate, and there are no time restrictions.


  • National Restriction
  • Unregulated

EagleFX provides a variety of trading instruments, such as forex currency pairings, cryptocurrencies, commodities, indices, and metals. This gives traders a wide range of trading options based on their trading techniques and tastes.

EagleFX has supplied traders worldwide with competitive trading conditions and access to numerous financial markets since its inception in 2019.

The needed minimum deposit amount is relatively small. This makes this broker the most accessible option for any new trader and ensures that most traders will consider it seriously.

Such trading conditions also appeal to traders seeking low-cost trading options with larger leverage for potentially higher rewards.

Brokers may supply traders with a single user account or a range of accounts, each catering to varying levels of competence, knowledge, and experience.

EagleFX offers demo accounts to traders of varying levels of experience. Novices may use a demo account to gain experience.

EagleFX gives traders access to MetaTrader 4, a well-known trading platform developed by MetaQuotes that has won numerous awards.

MetaTrader is one of the most famous trading platforms available today, giving traders access to cutting-edge features while being simple to use. It is a frequently used trading platform in the forex business and includes a range of features that can improve the trade experience for novice and expert traders.

EagleFX charges a commission of $6 for each lot round-turn. Price spreads change during the day due to factors such as the trading session, market dynamics, volatility, and the amount of available liquidity (supply and demand).

Another key factor to consider when evaluating brokers is the ease with which promises and withdrawals may be made. EagleFX offers many methods for traders to deposit and withdraw funds.

EagleFX offers customer service via various channels, including live chat, email, and social media. Their customer service is provided 24 hours a day, seven days a week, which can help traders in different time zones. However, some users have claimed response time delays and a need for more clarity in customer service.

The trading platform suits to have strong security mechanisms to secure user data and cash, such as SSL encryption, two-factor authentication (2FA), and separate customer funds.

While EagleFX offers a range of secure trade options, competitive trade conditions, and the popular MT4 trade platform, traders must exercise caution, follow best security practices, and be aware of the hazards associated with online trading.

8) Blackbull: Best Forex Trading Platform for ECN Trading Environment, With Scalping and Hedging

Best Forex Trading Platforms Online


  • Options trading for both professionals and consumers
  • Low and Tight Spreads
  • Controlled by the FMA
  • No Minimum Deposit is Required


  • Very few trading tools


BlackBull Markets is a legitimate electronic communication network (ECN). This no-dealing-desk brokerage serves a global clientele and specializes in Forex, CFDs, commodities, fiber optic connections, and fintech solutions.

As part of an all-around great offering, the best forex trading platform provides customers with skilled services such as personal account managers, regular market updates, and analysis.

BlackBull Markets provides three account types: ECN Standard, ECN Prime, Swap-Free, Islamic, and Risk-Free Demo. Live trading accounts at BlackBull Markets Professional may lack a minimum deposit of USD 1.

Segregated client accounts, sophisticated reporting, VPS hosting options, and bespoke solutions are all advantages of an Active Trader Account. At all times, a dedicated account manager is also accessible.

BlackBull Markets automatically give Extended Swap-free status to all applicable trading accounts opened by clients from non-Islamic countries.

BlackBull Markets offers a risk-free sample trading account for those new to forex trading. The BlackBull Markets demo account parts after 30 days. There is nearly enough money in the BlackBull Markets Demo account.

Customers may trade Forex and CFDs on stocks, precious metals, stock indices, and cryptocurrencies with the support of different asset classes provided by a platform.

64+ currency pairings, indices from major markets, precious metals such as gold and silver, and commodities such as energy, gas, and oil are among the options accessible at BlackBull Markets.

BlackBull Markets is dedicated to offering forex traders the best possible rates. They give their clients access to this market with customizable leverage up to 500:1. It is available 24/7.

Customers may need more horizons and diversify their portfolios with B. Bull Markets’ variety of Index CFDs since B. Bull Markets offers CFD trading with very low latency. In addition, BlackBull Markets provides access to multiple commodities across its platforms.

BlackBull Markets’ Basic Account demands a minimum round-trip cost of at least 0.8 pips sans commission when trading a Forex currency pair.

The minimum round-trip cost for trading EUR/USD on the Prime Account is 0.1 pip + 0.6 pip charge. As a result, the owners of these accounts will never pay less than 0.7 pip.

The Institutional Account has charge rates that may be arranged and spread as low as zero. This gives significant depositors with at least $20,000 in capital a competitive value. In addition, BlackBull Markets does not charge account inactivity fees.

Deposits at BlackBull Markets may be made in USD, EUR, GBP, AUD, JPY, NZD, SGD, CAD, and ZAR. All payments are closed except for bank wire transfers, which take one to three days to complete.

Best Forex Trading Platform: FAQs

This section answers some of the most frequently asked questions concerning the best Forex trading platforms in 2023.

What Is the Biggest Forex Trading Platform in 2023?

Prime XBT will be the largest Forex trading platform in 2023. In addition, it is one of the best online trading platforms for purchasing and selling alternative assets such as stocks, ETFs, cryptocurrencies such as Bitcoin, and so on.

On the other hand, the forex trading sector is always growing, and the popularity of different platforms might change over time due to various factors, such as market trends, consumer choices, and technical improvements. Therefore, to receive the most accurate and current information on the best forex trading platforms in 2023, it’s best to research up-to-date information from trusted sources and consult financial experts.

What Are the Best Times To Trade Forex?

Because the foreign exchange (forex) market is open 24/5, you can trade at any moment of the trading week. The best times to trade Forex, on the other hand, will largely rely on your trading style, market conditions, and personal preferences.

The New York session (GMT 12:00 – 21:00) is one of the busiest forex trading times, with high volume and volatility. Moreover, it coincides with the end of the London session, which can lead to higher market swings, especially in currency pairs involving the US dollar (USD).

It should be noted that market conditions can change, and there may be exceptions or fluctuations in trading volume and volatility due to economic events, geopolitical consequences, and other factors.

What Is a Proprietary Forex Trading Platform?

A proprietary forex trading platform, often known as a “prop trading platform,” is software built and utilized for internal trading purposes by a single financial institution or trading organization.

Unlike commercial trading platforms readily available to the public, they are typically utilized solely by large economic institutions, such as banks, hedge funds, and proprietary trading firms. Therefore, they are not open to the general public.

Custom features, functionality, and interfaces may be included in such platforms to cater to the firm’s specific trading tactics, risk management policies, and other proprietary trading techniques.

Summary: Best Forex Trading Platform 2023

It might not be easy to select the best forex trading platform, but with thorough research and deliberation, anyone can find the best fit for their financial goals. Prime XBT is one of the best Forex trading platforms, with a proven track record of success and good feedback from delighted customers.

While Prime XBT is our top pick, it’s important to note that your specific trading goals, tastes, and skill level may determine the best forex trading platform for you.

Thoroughly research and evaluate various trading platforms, considering factors like simplicity of use, features, cost, and customer service. This helps you in choosing a platform that is compatible with your trading objectives and tactics.

So, why delay? Join today and begin trading like a pro!

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