Foreign currency, being the world’s biggest traded financial market, provides a bunch of chances for those who can capitalize on its inherent volatility. However, it is important for a beginner to know a little bit about it and then step into the world of forex trading. In this article, we will provide some basic information about forex trading and its platforms for beginner traders.
Foreign exchange trading is the process of exchanging one country’s currency for that of another. Bank deposits or bank transfers of deposits denominated in foreign currency are the types of money that are explicitly transacted. Large commercial banks in financial centers such as New York or London that handle foreign-currency-denominated deposits are referred to as the foreign exchange market.
A Forex broker with an easy-to-use platform and many training techniques is more appropriate to a beginner trader. The Forex trader you choose will also be affected by the amount of money you have to deposit. If you don’t have any money, you’ll need a trader who doesn’t impose a cash investment. Overall, it would be best to look for a trader with reasonable fees and prices – the lower the ideal. Below we will discuss the best Forex trading platforms for beginners.
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1- AvaTrade
AvaTrade is proud to be a trailblazer in the Forex business. AvaTrade is experienced, reputed, and well-known, despite the fact that it was founded in 2006, which is nearly a lifetime in the world of online trading.
This platform welcomed retail traders at a period when only a few others were doing so. It is no surprise that it has gained the faith of many professional traders all over the world. Therefore, AvaTrade has a great reputation.
Customer satisfaction and trust are important to AvaTrade. To address the needs of approximately 300,000 consumers, the company’s systems, assets, and account kinds are diversified and many. You will enjoy trading on AvaTrade because the staff promises it. AvaTrade has used high technology to provide its clients with a user-centric trading platform and a presence on all continents since its inception.
The trading platform processes over 3 million trades every month and is continually updating and expanding its services. AvaTrade was among the first to embrace digital currency, offering crypto trading long before competitors did.
2- XTB
XTB has been around for nearly 15 years and has grown in importance and popularity over that period. With over 13 nations represented, the platform is one of the greatest FX trading platforms in the world. The trading software developed by XTB is designed to stay ahead of the curve and deliver excellent trading services to its customers. Therefore it’s not a surprising thing that xStation is the top trading platform for beginners.
For a trading platform, it is important to win the trust of your clients. The best part is that XTB does well in this area. Around 300,000 customers trust XTB with their money from all over the world. Some of the world’s most powerful regulatory organizations oversee the platform. And that’s why people are trusted on XTB.
Another key advantage of XTB is its consistent support for its customers. Customers can reach the XTB customer support team 24 hours a day, 5 days a week. There are also a variety of instructional resources available to assist both beginners and veterans.
3- IG
The IG Group, the parent company of the IG trading platform, has been around for nearly 50 years. IG has over 178,000 clients globally, all of whom trust the organization with their money.
That’s to be expected from a corporation with 46 years of expertise and stock exchange listing on the London Stock Exchange. The firm also has offices in 16 other nations and has won numerous industry awards for the quality services it delivers.
With IG, creating an account is a breeze. You simply fill out the form, which includes a few questions that can help determine your level of trading experience. On completing out and submitting the form, you will be validated almost instantly.
You’re all set up, and you can start trading right away. Simply fund your account and begin trading. Then, you can withdraw the money whenever you choose.
