While MetaTrader 4 is the most in-demand platform for online Forex traders, there are plenty of other alternative options. Each non-MetaTrader platform has its cons and pros and knowing all of them is not the waters novice traders have always swam in. However, Forex market’s newcomers may stop scratching their heads being puzzled by the complexity of choice. Our experts know all the angles of different trading platforms and the brokers that operate them. They are glad to offer you a list of the best non-MetaTrader Forex brokers. Be sure to check it and use it to increase your profits from trading.
Non-MetaTrader Forex Brokers
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Exceptional Execution
US Clients
Scalping
Pros
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OANDA is among the few international online forex brokers that accept U.S. clients.
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The broker’s trading platforms are unique with features of various valuable tools and resources, including the famous Dow Jones Forex Select news and trading calculators.
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OANDA does not require a fixed initial deposit on the standard account.
Cons
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OANDA’s financial offerings have some irregularities that may only suit some traders
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-Trading on OANDA may incur several fees, including a monthly inactivity fee
Matthew Davis
30 January 2023
Callum Wade
7 October 2022
Customer reviews
Withdraw fee
N/A
Deposit fee
4
Max leverage
1:50
Min deposit
N/A
Top Regulators
CFTC, NFA
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trusted
1
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Exceptional Execution
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US Clients
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Scalping
Pros
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OANDA is among the few international online forex brokers that accept U.S. clients.
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The broker’s trading platforms are unique with features of various valuable tools and resources, including the famous Dow Jones Forex Select news and trading calculators.
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OANDA does not require a fixed initial deposit on the standard account.
Cons
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OANDA’s financial offerings have some irregularities that may only suit some traders
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-Trading on OANDA may incur several fees, including a monthly inactivity fee
Matthew Davis
30 January 2023
Callum Wade
7 October 2022
Customer reviews
- Withdraw feeN/A
- Deposit feeN/A
- Max Leverage1:50
Best for Advanced Trader
Proprietary trading platform
Multiple regulations
Wide range of trading Instruments
Pros
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SAXO is regulated by various licensing bodies globally, with licenses in six tier-1 jurisdictions.
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Access over 60,000 instruments, including crypto derivatives, micro-futures, and forex options.
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SaxoTraderGo is equipped with all the necessary tools traders might need.
Cons
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SAXO is regulated by various licensing bodies globally, with licenses in six tier-1 jurisdictions.
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Access over 60,000 instruments, including crypto derivatives, micro-futures, and forex options.
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SaxoTraderGo is equipped with all the necessary tools traders might need.
Perry Williams
27 January 2023
Ayden Clarke
4 October 2022
Customer reviews
Withdraw fee
No
Deposit fee
4
Max leverage
1:100
Min deposit
No
Top Regulators
ASIC, FCA, JFSA, CySEC, FINMA
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2
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Best for Advanced Trader
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Proprietary trading platform
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Multiple regulations
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Wide range of trading Instruments
Pros
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SAXO is regulated by various licensing bodies globally, with licenses in six tier-1 jurisdictions.
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Access over 60,000 instruments, including crypto derivatives, micro-futures, and forex options.
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SaxoTraderGo is equipped with all the necessary tools traders might need.
Cons
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SAXO is regulated by various licensing bodies globally, with licenses in six tier-1 jurisdictions.
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Access over 60,000 instruments, including crypto derivatives, micro-futures, and forex options.
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SaxoTraderGo is equipped with all the necessary tools traders might need.
Perry Williams
27 January 2023
Ayden Clarke
4 October 2022
Customer reviews
- Withdraw feeNo
- Deposit feeNo
- Max Leverage1:100
Specialized trading accounts
Pros
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Highly Regulated and Trustworthy
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Excellent Educational Resources
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User-Friendly Platforms
Cons
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High Inactivity Fees
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High Pricing for Retail Accounts
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Does Not Allow US & Canadian Clients
Machet
17 December 2021
Danny Peek
9 February 2021
Customer reviews
Withdraw fee
$0
Deposit fee
3.8
Max leverage
1:400
Min deposit
$100
Top Regulators
ASIC, CBI
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3
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Specialized trading accounts
Pros
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Highly Regulated and Trustworthy
-
Excellent Educational Resources
-
User-Friendly Platforms
Cons
-
High Inactivity Fees
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High Pricing for Retail Accounts
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Does Not Allow US & Canadian Clients
Machet
17 December 2021
Danny Peek
9 February 2021
Customer reviews
- Withdraw fee$0
- Deposit fee$0
- Max Leverage1:400
No minimum deposit
No inactivity fee
Financial Times Subscription
WebTrader Platform
Trading Education
Pros
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No minimum deposit
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No inactivity fees
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15000 tradable instruments
Cons
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No MetaTrader Support
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Limited availability
Withdraw fee
$0
Deposit fee
2.9
Max leverage
1:30
Min deposit
$0
Top Regulators
FCA
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4
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No minimum deposit
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No inactivity fee
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Financial Times Subscription
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WebTrader Platform
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Trading Education
Pros
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No minimum deposit
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No inactivity fees
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15000 tradable instruments
Cons
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No MetaTrader Support
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Limited availability
- Withdraw fee$0
- Deposit fee$0
- Max Leverage1:30
The Guide to Choosing a Non-MetaTrader Platform
Let’s take a short overview of the list of the leading non-MT4 platforms presented in the Forex trading market. The majority of non-MetaTrader Forex brokers offer their customers the ECN-trading-friendly platform Currenex, which allows operating swaps and spot Forex using Straight-Through Processing. It perfectly suits traders who operate large volumes because ECN is recognized as the most cost-effective trading.
The rest trading platforms on the list are developed by the best non-MetaTrader Forex broker means and meet each company’s special requirements. That’s why traders can experience certain confusion due to the lack of common features all other platforms have. So, you should lay particular emphasis on a non-MetaTrader Forex platform that you are going to use as a main tool in trading.
Trading Station II can offer its users a tremendous variety of orders types and working modes allowing placing orders in one click, double click, or in a special mode, called “click and confirm.” cTrader is another ECN-trading friendly platform that suggests a tool for conducting a market technical survey in pair with extended charting package. ActTrader Forex brokers allow users to fasten trading, e.g. opening new positions and managing current ones, via a one-click feature. Flexibility and the ability to detach windows serve as additional benefits of this platform. Mirror Trader is taken for a social Forex platform, which has an interesting ability to mirror other traders’ actions and skip off manual trading.
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