Over the past few years, online forex trading has turned out to be one of the best modern ways of trading. But what exactly is forex trading? I’m sure many of you people would be thinking. What are its benefits? How is it good for me? First of all. Forex market which is also known as the Foreign Exchange market is a global market used for the trading of currencies. This market decides the relative currencies values of different countries. The trading takes place between the financial institutes of a country and most of the times between banks. A party purchases some quantity of one currency by paying in its own currency and thus this trade decides the relative values of both the currencies. Forex trading is usually preferred because of its 24×7 service and the trading leverages provided to the financers. Also no middleman is involved in it making the transactions more productive for the investors and also for the buyers. With the introduction of forex trading websites, their biggest advantage is that the investor can do business with anyone around the clock irrespective of their location. Information about everything is readily available on these websites which makes it simple and easy to use. In this article, we are going to have a look at the top 10 best forex trading websites in the world.
This websites provides the trading forum for thousands of young and new investors all over the world. The basic objective is to provide the users free of cost and scam free information. Different forums on the website help the users discuss their business matters with each other and maintain a record of the current happenings in the economy. There is also a portion of education which is used for the training of new investors and it provides them complete course and guidance.
BabyPips.com is another emerging website in the field of forex trading which provides online forums, trading techniques and other useful information for its users all around the globe. Anyone who is new in the field of trading can understand all the pros and cons of trading in very simple and well managed steps and in language which is very simple to understand. At the same time the tools section also helps you maintain constant tabs on the exchange rates throughout the year.
Mt5, also known as the Meta trader 5 is a trading software and it was developed by the company named Meta Quotes. The idea was to develop a software which can provide a productive platform for the traders. It was developed in Russia and in 2010, the latest version was introduced named MT5. This website was designed mainly for the users of Mt5 but soon became popular among other users as well. The traders can analyze and monitor the exchange rates and also interact with other traders with the help of different forums provided in the website.
This website was founded in 2000 in Spain and since then it has been in constant effort to provide the best services for its users. The traders can find latest exchange rates and market news readily on this website. The portion of economic calendar and education are a source of teaching for the beginners whereas complete information about the brokers is also available on this website making it a complete package for the traders.
Another website which is considered ideal for the users is myfxbook.com. The chart section helps the users in monitoring the year wise progress of the trading, the section of expert advice helps you communicate with many successful businessmen all over the world. Different analytical tools and programs help in making the correct decision at correct times while the portion of FAQ helps in overcoming all the queries of traders. All in all, this website serves as one of the best forums for forex trading.
Next website we have on our list in named instaforex.com and it was developed in 2007 in Russia. The unique thing about this website is the provision of CFD trading on the NYSE shares, gold and other valuables. Also the way they have managed their website helps in attracting many traders. The separate portions for beginners, traders and partners make the website very user friendly while the exchange rates can also be continuously monitored on one side of the page.
This website particularly emphasizes on the day by day situations in the forex market. Another interesting thing about this website is its video interfacing which helps the user in finding latest stats of different economists without much of an effort. It was founded in 1999 and it has been included in one of the most visited forex websites. There is also a daily news portion in it which keeps the users aware of the latest happening in the market. Economic calendar and exchange charts are also there for the users.
It was founded in 1995 and it’s headquarter is placed in Canada. The target of this website is to provide foreign exchange rates, currency conversations, online foreign currency transfers and forex trades to its users. There is also a guideline portion for new users so that they can learn different basics of investment. Such variety in the functions make this one of the most liked websites in the trader’s community. More than 10 million transactions have already been made through this website and this number is continuously increasing.
The website which is considered second best in our list, which has everything in it starting from charts, news, opinions, technical guidance’s, tools, etc. is investing.com. It was launched in august 2007 and it consists of 20 editions in 18 different languages. Each edition covers a large portion of financial technicalities including stocks, bonds, currencies, commodities and interest rates etc. making it a very tough competitor for all other forex trading websites. Users can also view the real time financial markets on this website.
The website which tops our list today is the forexfactory.com. Like any other forex trading website, this website has everything which a trader or a new user demands. Be it latest news, general discussions, technical discussion forums, exchange rates, currency position in the market, trade feed, in short anything which a trader requires to facilitate himself is a part of this website which makes it the best forex trading website in the world.
And this is the reason this website has the most number of visitors among all. The Alexa rating of this website is also the best at the moment.