Forex, or foreign exchange, trading is an activity where people buy and sell currencies. It is an open market with a large number of buyers and sellers who are connected to the system via online platforms. The main purpose of trading is to make a profit. Trades are made up of opening and closing positions, plus commissions, spreads and swaps.

A forex platform offers traders a full suite of trading tools and services, and it is usually accessible on computers, tablets and mobile devices. A top rated broker will also offer education and support services, as well as a demo account that lets new traders practice with virtual money before risking real capital.

Exploring Forex Trading Platforms: The Ultimate UK Comparison

There are several advantages to forex trading, including high liquidity and low transaction costs. The market is also decentralized, meaning there is no central exchange like in stocks or bonds, so there is no one entity that can manipulate prices significantly. Another benefit is the availability of 24-hour trading, which gives traders the ability to seize opportunities at any time of the day or night.

IG offers two primary forex trading platforms, a bespoke proprietary platform and MT4, the industry-standard platform that allows traders to automate their strategies using Expert Advisors (EAs). IG’s proprietary platform is especially useful for beginners because it offers a user-friendly interface, easing newcomers into the process. IG also offers educational materials and an extensive glossary to clarify terms and foster theoretical knowledge, and it provides webinars and workshops for deeper exploration of trading concepts.