Are you looking for a new forex platform to try? Here are 5 brokers / trading platforms you should take a look at for 2018. The platforms that made the list all have something a little unique that make them stand out from the pack.
Let me know in the comments what trading platforms you are using this year.
eToro is a social trading network that combines the best bits of a broker and the best bits of a social network into one really cool platform.
On eToro you can follow other traders, and even automatically copy the trades that they make. So this makes eToro a great option for new forex traders who are looking to learn.
The interface of eToro is what really makes it stand out from the pack. It’s completely web based (so no software to install) and is super easy to use. You’ll never want to use Metatrader again.
In terms of what you can trade, eToro has a huge selection. You can trade all the major forex pairs (as well as many obscure ones), stocks, cryptocurrencies, ETFs, commodities and more. In terms of innovation eToro leads the pack so it’s my number one recommendation in 2018.
I’m including EasyMarkets in this list because they have an interesting feature called DealCancellation. It’s basically insurance for your forex trades. It allows you to cancel a losing trade within 60 minutes without loss. We’ve all made trades that we instantly regret – so this is a feature we all need!
EasyMarkets focuses mainly on Forex, although recently they’ve also added cryptocurrency trading. The web trader interface is pretty basic, but definitely usable. I would love to see them update it to something more like eToro.
So if you’re looking for a Forex broker with some added protection, my pick is EasyMarkets.
Plus500 is one of the worlds most popular brokers. You’ve probably seen their ads before. They made my list because of their web trading interface. I’m not sure when exactly it launched, but it’s a huge improvement over their last iteration.
The old web trader looked very basic and bit unprofessional. I’m glad they’ve spent the time on a new interface and I’m even happier that it’s web based! It’s pretty easy to use and on Plus500 you have a huge range of forex pairs, stocks, commodities and cryptos to trade.
One feature on my wishlist for plus500 is variable leverage. At the moment the leverage is fixed. One of the features I love on eToro is being able to change the leverage, or not use levarage at all (yay! for lower risk trading). This would make Plus500 a much better choice for longer term sustainable trading.
1Broker makes the list because it’s 100% bitcoin based. Sure you can trade Bitcoin on other platforms, but on 1Broker you trade using Bitcoin. Because 1Broker only accepts Bitcoin, you don’t need to go through the laborious verification process that most brokers have. This also means you have a little more privacy and don’t need to worry about your verification docs getting hacked.
1Broker doesn’t really have the nicest interface, but it is usable.
I don’t know if Bitcoin will be the future, but services like 1Broker make me feel like it has a really valuable role.
Whaleclub is just like 1Broker, but they offer a much better trading interface. So like 1broker, you deposit Bitcoin (or litecoin or dash) and then you can trade forex and stocks using it.
The trading interface is actually one of my favorites among all brokers. It feels very clean and it’s easy to open and close trades. They also have a neat “chatbox” which has an active community behind it. If you’re looking for a more social trading experience then you’ll like this.
The fees on Whaleclub are too high in my opinion and they also charge an hourly financing fee (unlike a daily fee which most brokers have). And there is financing for all positions (short or long) which is odd. This makes it feel like an easy way for Whaleclub to make money. So I don’t recommend you trade their atm, until they sort of their fees. But I do really love the interface and hope they change things up.