1/1/ · TraderSync: Best trading journal app with + supported brokers and AI-functionalities; Tradervue: Long-term existing trading journal with enhanced journaling; Trademetria: Robust trading journal with portfolio tracker 23/11/ · The best software for forex trading with the best trading tools is Pepperstone - Best Forex Trading Software IC Markets - Low Fee Estimated Reading Time: 10 mins 2/7/ · The pro plan of Edgewonk trading journal costs $ per year Tradervue Key Features Auto-import Risk analysis Feature sharing with high privacy Filtering, tagging, and Free forex trading journal software There are numerous forex brokers that operate under u. However, within the u. There are only two institutions that regulate the forex market ... read more
Other trading journals on this list are here because they shine in at least one category ranging from cost to self-challenges, tracking mistakes, and customization.
Although most trading journals track forex, futures, options , and stock trading, Edgewonk goes a step further. You can automatically import data from supported brokers and platforms. If your trading platform is unsupported, Edgewonk makes it easy to import spreadsheet data directly from Excel. Sign Up for Edgewonk. Trademetria is another easy-to-use trading journal that tracks all the key metrics and makes it easy to review your trading performance. The journal features impressive risk management tools too.
Trademetria is noteworthy for its features that let you challenge yourself. When you find trends in your performance that suggest you can do better, you can create challenges surrounding those trends and track your improvements.
Trademetria offers a free plan that allows you to track up to 30 trades per month. Sign Up for Trademetria. The platform automatically tracks or imports your trades and displays the data in an easy-to-digest format.
Aside from simple tracking and analytics tools, the platform offers intraday trading data so you can track your performance in real-time. It also features stop-loss tracking to help you manage and mitigate risk, and all tools are available on its mobile app. TraderSync has a mistake tracker that will outline when you veered away from your trading plan and what you can do to avoid similar mistakes in the future.
Sign Up for TraderSync. TraderVue is one of the most popular trading journals online today, especially among day traders. You can automatically track your trades with 82 different brokers and trading platforms or import your data with Excel. Sign Up for TraderVue. TradeBench is an easy-to-use trading journal that displays your trading data in color-coded charts and graphs that make it possible to review your data at a glance. Trading activity can be imported from any broker or trading platform, and the user interface is attractive and easy to navigate.
The journal comes with a wide range of tools for risk assessment and trade analysis. It is one of the most effective options on the market. Price is where TradeBench stands out. TradeBench makes its money from advertising.
Sign Up for TradeBench. Microsoft Excel is one of the most popular spreadsheet solutions in the world. Microsoft Excel is part of the Office suite of software, which includes other Microsoft products like Word, Powerpoint, and Teams. You may be able to find lower prices at various retailers and even lower prices on outdated versions. Selwyn Gishen wrote a succinct article over at Investopedia on why you need a trading journal.
It boils down to:. You might be a pen and paper person. But as you accumulate trade data, it becomes unfeasible to analyze them on paper. You need the help of a computer.
Regardless of your trading configuration, you will always face a trade-off between convenience and ease of customization.
Specialized software packages that are well-suited for your trading needs are ideal. You can import your data and start analyzing them immediately. You will also find it easy to record new trades.
However, you might find them inflexible as your needs change over time. TraderVue is a well-established trading journal software that also offers solutions to prop firms.
Run through its features, and you will realize that their team is well-attuned to the real needs of traders. Other than the standard journalling features and comprehensive reporting, here are a few highlights I find helpful:.
Automatic importing of data is available for a large number of popular stocks, forex, and futures brokers. And even if your broker is not supported, manual import is possible. Most active traders will need to subscribe to paid tiers to make the most out of their trading records and analysis. The good news is that the pricing is not exorbitant given the array of features they offer and the value you can get from them. The key is to match your journalling needs to the suitable tier Silver or Gold.
You can get a free trial to evaluate their platform, and sign up only if you like what you see. Like Tradervue, Trademetria offers an impressive set of features. Available for a recurring monthly fee. It has a free tier that might work for traders who do not trade frequently. Trading Journal Spreadsheet offers an intuitive and powerful trade journal tool.
One resulting key advantage is that you get a copy of TJS on your computer and you can run it as long as you have excel. You own everything you put in it. Some traders might like this greater control over the software over a SaaS solution. One interesting feature worth highlighting is that it can keep track of positions with multiple entries and exits scaling strategies.
The best part is that you can get TJS with a one-time payment that is tiered according to the number of markets you would like to create journals for. TraderSync is designed for traders of a variety of markets including stocks, options, and futures.
It summarizes your trade records into beautiful dashboards , complete with recommendations on how to trade better. You can get started with it easily as it supports over brokers. Furthermore, it has mobile apps for both Android and IOS. Each plan offers a free trial which you can activate without a credit card, but only the Elite plan gives you AI insights on your trading performance. The platform uses technology to provide value metrics to traders looking to increase their edge in the markets.
TrackFx allows traders to import data from a range of brokers, then provides completely objective statistics. For more holistic traders, the lack of subjectivity maybe an issue, but for numbers driven traders — this is a great choice of a trading journal! Have a read here of my full review, looking at the pros and cons of the software! I would highly recommend journalling your trades in a simple spreadsheet if you have knowledge of how to work with Excel!
Evernote is a very useful tool for traders journalling trades. Although you will need to be manually adding trades on Evernote, the customisation and ability to add screenshots is a huge selling point.
Not only that, Evernote has a completely free plan to test the waters! Tradervue is a very simple forex journalling tool for traders. The tool allows traders to import trade data, then analyse simple metrics to look at profitability and various other factors. A simple but great tool for forex traders! You can store trades in different folders and Notion makes it very simple to pull data when you need to compile reports.
The only downside is the fact you need to manually add all of your trades into Notion, which could take a long time if you have years of past history to add!
With over 20 years of investing experience and 10 years of trading, Justin co-founded Compare Forex Brokers in He has worked within the foreign exchange trading industry for several years and for several of the largest banks globally. Justin achieved Honours in Commerce and has a Master's degree from Monash University.
He also owns Innovate Online offering digital marketing services with over 20 employees. Fact Checked. Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site. When trading CFDs and forex with Pepperstone, traders can choose between a Standard Account, Razor Account and Swap-Free Account Type.
Standard account types offer a simple fee structure, with no additional commission fees charged on top of the spread. Standard accounts are available with MT4 or MT5. As a Razor Account holder, traders gain access to tight spreads while paying commission fees that vary between each trading platform, with MT4, MT5 and cTrader available. Lastly, Swap-Free accounts are designed for Islamic traders who require an account type that complies with Sharia Law. Standard account types are an excellent choice for those new to currency trading, as traders can avoid complicated commission fee calculations and easily calculate potential profits and losses.
While spreads are wider by at least 0. spreads are taken from each broker's website and updated monthly. Compare Standard Account Spreads. While standard accounts may suit beginner traders wanting a simple fee structure, Razor accounts give traders access to ultra-tight ECN-style spreads and are an top choice for experienced traders that day trade, scalper, trade with algorithms, professional traders, and active traders.
Compared to other top forex brokers, Pepperstone provides some of the lowest spreads available to retail investor accounts, with spreads as low as 0. To achieve an ECN-like trading environment, orders are executed with no dealing desk NDD and straight-through-processing STP.
NDD and STP execution allow Pepperstone to connect traders with top-tier liquidity providers and some of the best prices available on the currency markets. To keep your spreads tight and avoid artificially changing prices set by liquidity markets, Pepperstone charges Razor account holders a commission fee rather than wider spreads.
Commission costs are:. Commission costs compare well against other brokers. If you are trading many lots, commission fees, much like spreads, can add up. Pepperstone accounts gain access to the same software features, with the only difference between account types being spreads and commission fees.
Features provided to both Standard and Razor account types include:. An Islamic account is available with no swap fees also known as overnight financing fees or holding fees. Available with both Standard and Razor account pricing, Islamic accounts are designed to be compliant with Sharia law, where interest-based swap fees are not permitted. Rather, Islamic account holders pay flat rate swap fees that vary between currency pairs.
Quick execution with no delays is ideal for forex day trading, expert advisors and scalping as the chances of slippage due to execution lag are greatly reduced.
The chart below shows the average speed of order executions, along with other forex brokers. Fast market orders increase your chance of orders being filled at your requested size and price when the broker receives them. This means you are less likely to need to deal with partial fills, re-quotes or slippage.
Pepperstone offers fast execution of limit orders with details of the results shown below. Fast execution ensures help ensure that your buy-limit or sell-limit will transact when your price point is triggered.
Pepperstone offers the best forex trading platform with the most popular software as shown below. Pepperstone offers the most popular forex trading platform on the market, MetaTrader 4. When using MT4, traders gain access to advanced charting tools, algorithmic trading expert advisors plus a large marketplace and trading community. Main MT4 features include:. MT4 is available as a desktop trading platform compatible with Mac and Windows computers, a mobile app for Android and iOS devices, or a web trader platform accessible via any browser.
MetaTrader 5 is the latest release from MetaQuotes with many improvements over MT4. MT5 is the best forex trading software and has been designed to offer a new experience with faster processing times and like MT4, MT5 is available as a desktop trading platform, trading apps or as web trader platform. MT5 allows hedged positions for both account types with a wider offering of pending order types than MT4. Exceptional features on MT5 provide a new trading experience with advanced tools and optimized trading.
Users can easily customize their workspace while using the MQL5 programming language to automate trading with EAs. Key features and benefits of MetaTrader Smart Trader Tools are an add-on package available to download, consisting of 28 Expert Advisors and technical indicators to assist customers with developing automated and complex trading strategies.
cTrader platform offers advanced trading capabilities with fast entry, execution, and coding customization. Created by Spotware, cTrader is suited for both beginner and advanced traders and is one of the popular platforms available to trade forex. As an IC Markets customer, traders can choose from a Raw Spread account, Standard Account and cTrader Account.
Each account type charges different spreads and commissions and is available on specific trading platforms.
When trading forex, traders can leverage positions by , regardless of account type. IC Market offers over financial instruments available to trade with low spreads and commissions:. Raw Account and Standard Account holders gain free access to the MetaTrader 4 trading platform and its extensive range of advanced trading tools.
As well as the built-in charting and trading tools, MT4 users can download IC Markets Advanced Trading Tools. The MetaTrader 5 platform is the latest MetaTrader software with certain improvements from its predecessor. Like MT4, traders can enjoy trading with no dealing desk, no prices requote, or any manipulation price on the IC Market trading platform. Improvements to the MetaTrader 5 platform include:. cTrader is a platform known for its high-speed execution of orders with the trading platform providing a unique design and smooth user interface experience.
cTrader has no restrictions on trading with some of the best trading conditions for scalping and high-frequency trading. Only available through an IC Markets cTrader account type. AutoTrade is available to use for all IC Market clients with a next-generation copy trading system by Myfxbook.
AutoTrade allows you to copy trades from any system directly into your MetaTrader 4 account. Myfxbook AutoTrade is available only for live trading with full control of your account and no hidden fees.
ZuluTrade is an ideal solution for traders who cannot commit time to build their own strategies. ZuluTrade clients can follow trading from , Zulu traders from countries. The advanced copy trading platform offers features such as:. NinjaTrader is an advanced trading platform with sophisticated analytical and automated charting capabilities. The software platform offers preloaded chart styles with hundreds of technical indicators, with a collection of artful drawing tools for charts.
When using NinjaTrader, FXCM customers can load multiple time-frames and markets on a single chart, designed to not miss any market patterns. Traders can configure hundreds of indicators quickly and easily making for an efficient trading environment. The NinjaTrader platform provides a range of trading tools for suiting all levels of experience from beginner to advanced, with no auto trading programming knowledge required. Algorithmic strategies can be written using the C programming language, while Automated Trade Management ATM strategies allow users to automate order and risk management.
Multiple ATM strategies are available for use in risk management or automated trade execution and traders can fully customize trailing stops quickly in fractions of a second. To assess and optimize automated trading strategies, you can utilize the NinjaTraders backtesting suite. Another tool to save time spent analyzing markets looking for trading opportunities is the brokers Market Analyser tool that traders can program to scan different financial markets, with advanced alerts notifying traders of market movements.
eToro is an established and popular social trading network with traders from over different countries. The social trading platform connects traders together by sharing ideas, trading decisions, and strategies on a news feed. It is easy to find popular investors to follow and copy, with users able to view their trading history and success, risk profile and location.
As well as copying individual popular investors, eToro customers can utilize the brokers CopyPortfolio feature where traders can invest in bundles of financial instruments.
Two types of portfolios are available:. When trading with City Index, customers gain access to thousands of financial instruments, ranging from forex markets to Cryptocurrency markets. The City Index web trader platform is powered by HTML5 technology and offers a user-friendly, yet customizable workspace for those new to trading.
To minimize the high risk of forex trading, customers can utilize risk management tools. Real-time calculators keep you updated on margin requirements, while order types allow you to predefine order entry and exit prices. Order types available to City Index clients include:.
Mobile trading apps are available for iOS and Android devices. Both versions of the City Index mobile app allow users to trade efficiently on the go and across multiple devices. To help smartphone traders stay up to date with financial markets, the mobile app offers a watch list feature along with real-time Reuters news and an economic calendar. iOS and Android apps allow traders to perform technical analysis from their devices.
With multiple timeframes, chart styles and over 60 technical indicators, analysis is user-friendly from your mobile phone. As with the web trader platform, a range of basic and advanced order types are available to manage risk, including GSLOs. ThinkMarkets is the best broker for backtesting and Expert Advisors. The broker offers both MT4 and MT5, with EA backtesting abilities varying between the two MetaQuotes trading platforms.
Unlike some brokers, ThinkMarkets enforces no restrictions on Expert Advisors, forex robots and indicators running at the same time, with easy integration of EAs into the trading platforms. While EAs are available on both MT4 and MT5, MetaTrader 5 is the recommended platform for algorithmic trading strategies and backtesting. Backtesting algorithmic trading strategies on the MetaTrader platforms allow traders to test and optimize their EAs against historical data.
As a ThinkMarkets customer, traders can develop or download Expert Advisors and custom technical indicators for the financial assets:. FxPro offers the cTrader which is a powerful forex trading platform with a friendly design. To access the trading software, the web platform provides scalpers quick trade execution within a modern, sleek interface.
23/11/ · The best software for forex trading with the best trading tools is Pepperstone - Best Forex Trading Software IC Markets - Low Fee Estimated Reading Time: 10 mins Free forex trading journal software There are numerous forex brokers that operate under u. However, within the u. There are only two institutions that regulate the forex market 1/1/ · TraderSync: Best trading journal app with + supported brokers and AI-functionalities; Tradervue: Long-term existing trading journal with enhanced journaling; Trademetria: Robust trading journal with portfolio tracker 2/7/ · The pro plan of Edgewonk trading journal costs $ per year Tradervue Key Features Auto-import Risk analysis Feature sharing with high privacy Filtering, tagging, and ... read more
That way, you will be more prepared the next time you trade and significantly optimize your overall performance. Replace those spreadsheets with our easy to use reports to understand your trading behavior quickly. This requires maintaining consistency. Over time, you can use the data in your trading journal to become a more efficient trader. Journals can be beneficial to both beginners and professionals.Learn More Day Trading With Price Action Course TSR Trading Guides Trading Setups Trading Articles Trading Books Site Map. There are also nifty features for analyzing the most profitable weekday or time of the day. With these well-made charts, you can review your activity in different time frames. For example, best forex trading journal software, ThinkorSwim most of the time do not report on commissions. Spreads Markets.