To help you find the best trading platform for Europeans in 2021, we went ahead and did the research for you. First, we selected 86 quality online brokers, then we tested them with real accounts. We evaluated their web, mobile and desktop trading platforms, as well as their research tools. We dug deep, so you won't have to.
4 brokers made it to the top for Europeans. We highly recommend all 4 to you. And now, without further ado...
The brokers with the best trading platforms for Europeans in 2021 are:
- Saxo Bank, Danish investment bank
- IG, Global CFD and forex broker
- Oanda, US forex broker
- NinjaTrader, Global platform provider focusing on futures trading
All 4 brokers provide great trading platforms for Europeans, but we also selected the top two brokers separately for web, mobile and desktop trading platforms.
| Web | Mobile | Desktop | |
|---|---|---|---|
| 🥇 Winners | Saxo Bank | Saxo Bank | Saxo Bank |
| 🥈 Runners up | IG | Oanda | NinjaTrader |
Saxo Bank made it to the top in all three categories, making it an absolute winner with its SaxoTraderGO trading platform family, which is great for all asset classes.
IG is the runner-up in the web category with a highly customizable web trading platform.
Oanda has an amazing mobile platform suitable for forex and CFD trading.
NinjaTrader is the second in the desktop category with a platform suitable for traders specialized in technical analysis and futures trading.
| Saxo Bank | IG | Oanda | NinjaTrader | |
|---|---|---|---|---|
| Web platform score | 5.0 stars | 5.0 stars | 4.5 stars | - |
| Mobile platform score | 5.0 stars | 5.0 stars | 5.0 stars | - |
| Desktop platform score | 5.0 stars | - | 4.5 stars | 4.8 stars |
| Research score | 5.0 stars | 3.5 stars | 4.5 stars | 4.8 stars |
What makes the best trading platform?
First of all, it needs to be user-friendly. It’s also important that it provides the following functionalities:
- safe login
- quality search functions
- good selection of order types
- customizability
- price alerts and order notifications
- clear fee and portfolio report
- quality research tools
Information about brokers' fees was not a selection criteria, but we also added some relevant data on this to give you a more comprehensive view of the featured brokers.
The above requirements are easy enough to list, but harder to figure out. We test brokers along more than 300 criteria with real accounts and real money. We know what's up. You can find the ranking criteria in our methodology..
Not sure which broker? For a tailored recommendation, check out our broker finder tool. Select your country and it will show only the relevant brokers. Want more details? Compare brokers with this detailed comparison table.
And now, let's see the best trading platforms for Europeans in 2021, one by one, starting with Saxo Bank, the winner for the best web and desktop trading platforms.
#1 Best trading platform for Europeans
Saxo Bank
Saxo Bank, a Danish investment bank founded in 1992, provides online trading and investment services. The company is regulated by several financial authorities globally, including the Danish Financial Services Agency (FSA) and the UK Financial Conduct Authority (FCA).
Saxo Bank is a global service provider and its subsidiaries are present in the form of separate legal entities in different regions of the world. The services offered by the various entities may differ slightly, especially with respect to fees and product portfolios. In this review, we tested Saxo Bank UK.
Saxo Bank is considered safe because it has a long track record, a banking background and is regulated by top-tier financial authorities.
Recommended for investors and traders looking for a great trading platform and solid research
| Trading platform | Score | Available |
|---|---|---|
| Web | 5.0 stars | Yes |
| Mobile | 5.0 stars | Yes |
| Desktop | 5.0 stars | Yes |
#1 Saxo Bank
Web trading platform
Saxo Bank's web trading platform is one of the best among online brokers. While it's easy to use, the platform also provides features tailored for professionals, such as an advanced order panel.
| Pros | Cons |
|---|---|
| • User-friendly | None |
| • Clear fee report | |
| • Two-step (safer) login |
Saxo Bank's web trading platform is called SaxoTraderGO, its desktop trading platform runs under the name of SaxoTraderPRO. Both are developed by Saxo. However, you can also use other, third-party platforms for trading or managing your portfolio.
| Tool | Tool features | Available instruments |
|---|---|---|
| OpenAPI for Excel | Portfolio management in Excel | All products |
| Dynamic Trend | Stock and options analysis | US stocks and stock options |
| Tradingview | Charting tools and social trading | Forex |
| MultiCharts | Advanced market analysis, backtesting opportunity | Forex, CFDs, stocks, futures and bonds |
| MetaTrader 4 | MT4 functionality with Saxo execution | Forex |
| Updata | Expert technical analysis, screening and alerts | Forex, CFDs, stock, futures and bonds |
If none of the above platforms suit your needs and you'd like to develop your own interface, you can be an API partner of Saxo.
In this review, we tested SaxoTraderPRO.
The web trading platform is available in an exceptionally large number of languages.
| Arabic | Bulgarian | Chinese | Croatian | Czech |
| Danish | Dutch | English | Estonian | Finnish |
| French | German | Greek | Hungarian | Italian |
| Japanese | Latvian | Lithuanian | Norwegian | Polish |
| Portuguese | Portuguese-Brazil | Romanian | Russian | Slovakian |
| Slovenian | Spanish | Swedish | Turkish |
Look and feel
SaxoTraderGO is a great platform; two features we would particularly highlight are its modern design and user-friendliness.
The easily customizable platform meets the needs of both novice and professional traders. However, customizability has its limits; for example, you can change the size of various tabs but not their relative positions.
Login and security
Saxo Bank has a safer two-step login system, which is optional.
Search functions
Saxo's search functions are great. The search results are relevant and grouped according to asset class. If you search for Apple, the results will show Apple stocks, CFDs as well as options.
There is a drop-down button on the right side of the search box for filtering results. For example, you can narrow down stock search results to specific countries, or filter forex search results for major currency pairs.
Placing orders
You can use many order types and order time limits.
The selection includes:
- Market
- Limit
- Stop limit
- Stop
- Trailing stop
- One-cancels-the-other (OCO)
If you are not familiar with the basic order types, read this overview.
There are also several order time limits available:
- Good-till-canceled (GTC)
- Day Order
- One week
- One month
- End of week
- End of month
- End of Year
- Good-till-date (GTD)
- Immediate or cancel (IOC)
We also liked Saxo's fee transparency. When you open the order panel, you will be shown a 'Trade Ticket' that lists a lot of useful information, such as costs or margin requirements.
Alerts and notifications
You can use a wide range of alerts:
- Price alert
- Position closing/opening
- Portfolio change
- Margin call, etc.
Platform notifications are available as pop-up messages or in email.
Portfolio and fee reports
Portfolio and fee reports are transparent. You can view and download reports under the 'Account' tab. The historical profit/loss balance and costs paid are clear and easy to track.
#1 Saxo Bank
Mobile trading platform
Saxo Bank's user-friendly mobile platform has the same look and very similar functionalities as the web platform.
| Pros | Cons |
|---|---|
| • User-friendly | None |
| • Two-step (safer) login | |
| • Good search function |
Saxo Bank's mobile trading platform has both iOS and Android versions. In this review, we tested it on Android.
The platform is available in the same languages and has the same search functions, order types and alerts as the web trading platform. It provides a two-step authentication.
The platform's user-friendliness falls short of the web trading platform. We liked the modern design but were slightly disappointed by the confusing menu structure, which sometimes made it difficult to find what we were looking for.
#1 Saxo Bank
Desktop trading platform
Saxo Bank's desktop trading platform is one of the best on the market. It is well designed, easy to use and offers great customizability.
| Pros | Cons |
|---|---|
| • User-friendly | None |
| • Clear fee report | |
| • Good customizability (for charts, workspace) |
Saxo's desktop trading platform, SaxoTraderPRO looks similar to its web-based equivalent.
At the same time, true to the 'PRO' tag, the desktop version offers more advanced customizability. You can run up to six windows simultaneously and create your own trading environment. Each window is customizable in size and position.
#1 Saxo Bank
Research
Saxo Bank's research is great, including well-developed tools for both fundamental and technical analysis. Clients have recommendations, detailed fundamental data and user-friendly interactive charting at their disposal.
| Pros | Cons |
|---|---|
| • Good interactive chart | • Most fundamental data is not free of charge |
| • Trading ideas | |
| • Data on asset fundamentals |
The majority of Saxo Bank's research tools can be found on its various trading platforms. Another source of research tools and ideas is tradingfloor.com.
Trading ideas
There are many analysis pieces and recommendations on Saxo's trading platforms and on tradingfloor.com.
Fundamental data
Saxo provides very detailed data on stock fundamentals. However, only a few are available for free, namely: Apple, Microsoft, Barclays, Nestlé, Siemens, Telefonica, Nokia, ENI and Hennes & Mauritz. For data on other stocks, you have to be a subscriber.
You will find both current and historical data. In addition to information such as ownership structure, financial statements, valuation or peer group comparison, you can also prepare your own benchmark analysis. Analyst consensus and target price information are also available.
You can check out the current winners and losers on major stock exchanges, read related news articles and view related trade signals and calendar events.
Charting
The interactive chart function is great and user-friendly.
You will find 50 technical indicators and can add many editing tools, like trendlines or Fibonacci tools.
In addition, there is a trading signal tool, which gives you a buy or sell signal based on technical indicators. This feature is powered by Autochartist, a third-party research company.
News feed
A news feed and an economic calendar are also available on Saxo's trading platforms. One slight drawback is that you can't filter news by assets.
On tradingfloor.com, you can read additional news, daily commentaries, long-term outlook pieces and expert opinions.
Other research tools you will enjoy
There is a great stock screener where you can filter stocks by country, industry, and financials.
For example, if you are searching for tech companies in the US with a P/E of less than 15 and a market cap higher than $1 billion, this is basically a two-click exercise on the screener.
Quarterly outlooks, Outrageous predictions, podcasts
Saxo Bank provides additional materials for your research. Quarterly outlooks provide an in-depth analysis of potential market movements. These are both general predictions or tied to world events like the US elections or pandemic developments. Outrageous predictions are something different - these are deliberately consensus-smashing predictions for the current and next year. The daily podcasts can also give you some insights into market trends.
#1 Saxo Bank
Verdict
Saxo Bank is a great broker, providing a complex and good service.
It offers a user-friendly and well-designed trading platform, backed by great research. The product portfolio covers all asset types and many international markets.
It has some drawbacks though. The fees for bonds, options and futures are high. There is also a high minimum deposit for certain countries. Lastly, there is no live chat or 24/7 customer support.
In general, Saxo Bank is one of the best online brokerage companies out there. By opening an account, you will get a broad, well-developed service constantly adapted to the needs of clients.
Below you can find links to all aspects of Saxo Bank in this comprehensive collection.
Lower fees, lower costs?
We detailed this in our Saxo Bank fees article.
What about the minimum deposit?
Our ultimate guide to the Saxo Bank minimum deposit is updated regularly.
How to start your Saxo Bank account?
Look no further than our evaluation of the Saxo Bank account opening.
How's their trading app?
Here's our expert view after checking the Saxo Bank trading app.
Is the quality of customer service satisfactory?
All you need to know about the Saxo Bank customer service.
Legit or scam?
Is Saxo Bank legit features all the key aspects you need to look at to see if a broker is safe and legit.
Free or premium? Or both?
A glance at actual costs and whether Saxo Bank is really free.
Is this broker good for beginners?
We checked it in Is Saxo Bank good for beginners.
Should you buy your silver bullets on Saxo Bank?
Research for silver bugs in the Silver buy on Saxo Bank guide
I want to trade options, are they available at Saxo Bank?
We explored the topic in Can you trade options on Saxo Bank?
#2 Best trading platform for Europeans
IG
IG was established in the UK in 1974 and is one of the biggest CFD brokers in the world. It is regulated by several bodies globally, including top-tier regulators like the UK's Financial Conduct Authority (FCA) and Germany's Federal Financial Supervisory Authority (BaFin). IG Group is listed on the London Stock Exchange.
IG is considered safe because it is listed on a stock exchange, discloses its financials and is overseen by top-tier regulators.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFDs are not provided for US clients. Forex trading involves risk. Losses can exceed deposits.
Recommended for traders of any experience level looking for an easy-to-use trading platform
| Trading platform | Score | Available |
|---|---|---|
| Web | 5.0 stars | Yes |
| Mobile | 5.0 stars | Yes |
| Desktop | - | No |
#2 IG
Web trading platform
IG's web trading platform is great for both beginners and professional traders. It is easy to use, has all the necessary functions and can be customized.
| Pros | Cons |
|---|---|
| • User-friendly | None |
| • Clear fee report | |
| • Two-step (safer) login |
You can use either IG's trading own platform or MetaTrader 4, a third-party trading platform. In this review, we tested IG's own trading platform.
The web trading platform is available only in English.
Look and feel
The IG trading platform is one of the most intuitive and well-designed web trading platforms we have seen.
You can easily customize the trading platform. The flexible design allows you to move windows around and save layouts. You can create watchlists and there is also a one-click trading feature.
Login and security
You can easily set up two-factor authentication. You have to download the 'IG Authentication' app on your mobile and activate the two-factor authentication.
Search functions
You can search for products in the sidebar on the left. It works as you would expect. You can also browse available investment options by typing manually or browsing through the asset class categories.
Placing orders
You can choose from many order types:
- Market order
- Limit order
- Stop-loss order
- Trailing stop order
- Guaranteed stop order
If you are not familiar with the basic order types, read this overview.
There are also order time limits you can use:
- Good 'till cancelled (GTC)
- Good 'till date (GTD)
Alerts and notifications
Alerts and notifications are both available. They can be set up by going to 'MyIG', then 'Settings', and clicking on 'Communication Preferences'.
You can choose from multiple alert and trade/deal notifications:
- price alert (prices reach an important level)
- indicator alert (technical tools reach an important level)
- economic alert (big economic announcements)
- automated or manual deal opening/closing
- automated or manual position editing
Portfolio and fee reports
IG provides clear portfolio and fee reports. The main performance and status of your account is available on the dashboard of your live account. By opening the menu on the right, you can see the 'History' tab where you can check all the costs and returns on your past trades.
#2 IG
Mobile trading platform
The IG mobile trading platform is easy to use and has great functionalities.
| Pros | Cons |
|---|---|
| • User-friendly | None |
| • Good search function | |
| • Touch/Face ID login |
You can use both IG's own mobile trading platform and the MetaTrader 4 platform. They are available for both iOS and Android devices.
In this review, we tested IG's own platform on an Android device.
The mobile platform is available only in English.
Look and feel
The IG mobile platform is very intuitive, similarly to the web trading platform. You can easily find all available features.
The design is OK, nothing great, and not as good as the web trading platform.
Login and security
If your device has a fingerprint sensor, you can also use biometric authentication for convenience. If you would like to, it is possible to use two-step authentication with a separate app called IG Authentication.
Search functions
The search functions are the same as at the web trading platform. When searching, the results are categorized by assets.
Placing orders
You can use the same order types and order time limits as the ones on the web trading platform.
Alerts and notifications
The mobile platform's alerts function is not as extensive as the web trading platform's. You can only set price alerts.
#2 IG
Desktop trading platform
IG's in-house developed trading platform has no desktop version.
If you prefer a desktop-based platform, you can use MetaTrader 4 for CFDs and spread bets for free. In design and functionality, IG's MetaTrader 4 desktop platform is almost the same as the web trading platform.
Another alternative is ProRealTime. It is free to use if you make at least 4 transactions a month. If not, a £30 monthly fee will apply.
For shares and CFDs, L2 Dealer is a free downloadable alternative that offers direct market access (DMA). Watchlists, price alerts and trading from charts are possible. Charts are provided by ProRealTime access. Minimum £1,000 balance required.
#2 IG
Research
IG offers user-friendly research tools. Its news flow and charting tools are great. On the other hand, fundamental data is not available.
| Pros | Cons |
|---|---|
| • Good interactive chart | • No fundamental data available |
| • Trading ideas | |
| • User-friendly |
You'll find IG's research tools on the trading platform. The tools, just like the platform, are available only in English.
Trading ideas
IG provides trading ideas. You can find ideas about which way specific assets are trending if you click on the 'Signals' section in the left-hand menu.
Fundamental data
IG does not offer fundamental data on assets.
Charting
IG has good charting tools. It is easy to edit and save your charts. We also liked that you can mark the date of major economic events on the charts in a quick and simple way. There are 30 technical indicators available that you can use for charting.
News feed
IG has a pretty good news function that is powered by Thomson Reuters. You can get the news directly from the web platform. There is no separate news function on the mobile platform but you can find related news for specific financial instruments.
In addition to the Thomson Reuters news ticker, you can also read tweets from Twitter.
We liked IGTV, IG's built-in news video service on the web trading platform, which publishes four editions each day. By watching these videos you can stay up to date on major news developments, and get analysis on the charts for key forex pairs, commodities and stock indices.
Other research tools you will enjoy
IG Community is an innovative forum for IG customers. Users can share their trading ideas here, which may help you to make a trading decision.
#2 IG
Verdict
IG is one of the biggest and most reliable CFD brokers. It is regulated by several financial authorities around the world. IG Group is listed on the London Stock Exchange.
IG has one of the best web trading platforms BrokerChooser has tested. The deposit and withdrawal conditions are great. You can also expand your knowledge with great educational materials.
On the other hand, there are some drawbacks. The forex and stock CFD fees are high and the product portfolio in most countries is limited to forex, CFDs and options. Customer support could be better.
Feel free to test IG's first-class trading platform, since there is no minimum funding amount for bank transfers and you can also easily open a demo account.
Below you can find links to all aspects of IG in this comprehensive collection.
Lower fees, lower costs?
We detailed this in our IG fees article.
What about the minimum deposit?
Our ultimate guide to the IG minimum deposit is updated regularly.
How to start your IG account?
Look no further than our evaluation of the IG account opening.
How's their trading app?
Here's our expert view after checking the IG trading app.
Is the quality of customer service satisfactory?
All you need to know about the IG customer service.
Legit or scam?
Is IG legit features all the key aspects you need to look at to see if a broker is safe and legit.
Free or premium? Or both?
A glance at actual costs and whether IG is really free.
Is this broker good for beginners?
We checked it in Is IG good for beginners.
Should you buy your silver bullets on IG?
Research for silver bugs in the Silver buy on IG guide
I want to trade options, are they available at IG?
We explored the topic in Can you trade options on IG?
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#3 Best trading platform for Europeans
Oanda
Oanda is an American forex broker founded in 1996. It is still a private company, thus not listed on any stock exchange.
Oanda is regulated by top-tier authorities, such as the US Commodity Trading Futures Commission, the National Futures Association (CFTC) and the UK's Financial Conduct Authority (FCA).
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
The services offered by the broker's different entities differ slightly. In this review, we mainly focus on the UK one.
Recommended for forex traders who value a user-friendly platform and great research tools
| Trading platform | Score | Available |
|---|---|---|
| Web | 4.5 stars | Yes |
| Mobile | 5.0 stars | Yes |
| Desktop | 4.5 stars | Yes |
#3 Oanda
Web trading platform
Oanda's web trading platform is user-friendly and safe with good customizability. On the downside, you can't set price alerts.
| Pros | Cons |
|---|---|
| • User-friendly | • No price alerts |
| • Clear fee report | |
| • Two-step (safer) login |
At Oanda you can choose from two trading platforms: Oanda's own platform or MetaTrader 4. In this review, we tested Oanda's platform.
The web trading platform is available in several languages:
| Chinese | English | French | German | Italian |
| Japanese | Portuguese | Russian | Spanish | Japanese |
Look and feel
Oanda's own trading platform is user-friendly and well-designed. It is also customizable, allowing you to change the tabs' position and size.
Login and security
Oanda provides a two-step login, which is safer than using only a username and password. For two-step login to work, you'll have to install the Google Authenticator app, which is a compromise that's easy to live with for the sake of security.
Search functions
The platform's search function is good, in that you can easily find the assets you are looking for. Assuming you found the search function in the first place - its location is not very intuitive: the search menu is under the ‘Rates’ tab.
Placing orders
You can use the following order types:
- Market
- Limit
- Take profit
- Stop loss
- Trailing stop
Only Good till Date (GTD) order time limit is available. To get a better understanding of these terms, read this overview of order types.
Alerts and notifications
You cannot set price alerts and notifications on the web trading platform, although this function would be useful and it is available at several other brokers.
Portfolio and fee reports
Oanda has clear portfolio and fee reports. You can find the summary of your spread costs, commissions and profit under the ‘Activity’ tab.
#3 Oanda
Mobile trading platform
Oanda's mobile platform is similar to the web trading platform in functionality, and as a plus, you can also set alerts.
| Pros | Cons |
|---|---|
| • User-friendly | • No Touch/Face ID login |
| • Two-step (safer) login | |
| • Good search function |
Oanda's mobile trading platform is available on both iOS and Android. We tested it on Android in English. The platform is available in the following languages:
| Arabic | Chinese | German |
| English | Japanese | Russian |
Look and feel
The Oanda mobile trading platform is user-friendly. The chart tab is great, you can customize it well. This is not something you commonly find at other brokers.
Login and security
Oanda provides a two-step login, which is definitely safe, but you can't use biometric authentication (i.e. fingerprint or face recognition on your phone), which would make the process even more convenient.
Alerts and notifications
In a positive development compared to the web trading platform, it's possible to set alerts and notifications on the Oanda mobile platform.
#3 Oanda
Desktop trading platform
Oanda's desktop platform mimics the web platform in terms of functionality, but it has no price alerts.
| Pros | Cons |
|---|---|
| • User-friendly | • No price alerts |
| • Clear fee report | |
| • Good customizability (for charts, workspace) |
Oanda's desktop platform is similar to the web trading platform in terms of login, order types and portfolio reports. While the design is generally fine, it could definitely use some brush-up.
#3 Oanda
Research
Oanda has a wide range of research tools, including news, technical analysis and an API. However, these features are poorly organized on their site.
| Pros | Cons |
|---|---|
| • Good interactive chart | • No trading ideas |
| • Data on asset fundamentals | • Research tools are poorly organized |
| • Quality news flow | |
| • Great API |
Oanda has a lot of research tools, but they are scattered across seven different pages. For the sake of clarity, here they are in one place:
- MarketPulse: analyses written by Oanda's own research team. It also includes an economic calendar.
- News: MarketPulse articles plus a feed by Dow Jones Newswires, a prominent third-party information provider
- Economic Analysis: analyses of important economic events. However, there is an overlap with MarketPulse as many of these articles can be found there as well.
- Oanda Labs: tools developed by Oanda's engineers. These tools are usually based on technical analysis, e.g. candlestick pattern analysis.
- Technical Analysis: many technical analysis tools powered by Autochartist
- Algo Lab: a powerful tool for API trading
- Trading Performance: a behavioral science based risk management tool
Research tools are available in multiple languages.
Fundamental data
Oanda provides fundamental data through its built-in application 'Economic Analysis'.
Charting
Oanda has great charting tools. The charts are very responsive, easy to edit, and you can use more than 70 technical indicators.
News feed
News is available on the ‘News’, ‘Market Pulse’, and ‘Economic Analysis’ pages. You can reach these pages from the trading platforms.
We think ‘MarketPulse‘ is your best bet if you want to be in the know. It offers well-written news and analysis with visual elements like charts or videos. You can also find a great economic calendar here. These elements are totally missing from the ‘News‘ page, while the ‘Economic analysis‘ page is not up to date.
Other research tools
There are so many other research tools that even a separate review wouldn't do them justice. Therefore, we picked only the hottest ones.
Oanda has great API options. You can make/use your own APIs in a great and very user-friendly environment. Algo Lab allows you to code and deploy your own automated trading strategies right from your web browser. Programming languages supported by Algo Lab are C#, Python and F#.
There is also a currency heat map, which is a great visual chart showing FX pair changes in percentages. Last but not least, you can use the Forex Order Book tool, which is a 24-hour summary of open orders and positions held by Oanda's clients.
#3 Oanda
Verdict
Oanda is a great forex broker. It has user-friendly trading platforms that you will quickly learn to use confidently. It also provides powerful research tools, especially trading APIs. The account opening is easy and quick.
On the other hand, Oanda's product selection is limited to forex and CFD products. It doesn't have a banking background and is not listed on any stock exchange, two typical factors that enhance transparency and regulatory scrutiny. Customer support is not 24/7 as well.
Feel free to try Oanda: it is regulated by top-tier regulators, there is no minimum deposit, and the inactivity fee only kicks in after one year.
Below you can find links to all aspects of Oanda in this comprehensive collection.
Lower fees, lower costs?
We detailed this in our Oanda fees article.
What about the minimum deposit?
Our ultimate guide to the Oanda minimum deposit is updated regularly.
How to start your Oanda account?
Look no further than our evaluation of the Oanda account opening.
How's their trading app?
Here's our expert view after checking the Oanda trading app.
Is the quality of customer service satisfactory?
All you need to know about the Oanda customer service.
Legit or scam?
Is Oanda legit features all the key aspects you need to look at to see if a broker is safe and legit.
Free or premium? Or both?
A glance at actual costs and whether Oanda is really free.
Is this broker good for beginners?
We checked it in Is Oanda good for beginners.
Should you buy your silver bullets on Oanda?
Research for silver bugs in the Silver buy on Oanda guide
I want to trade options, are they available at Oanda?
We explored the topic in Can you trade options on Oanda?
#4 Best trading platform for Europeans
NinjaTrader
NinjaTrader is a US-based software company that provides a great trading platform with advanced research tools. The company was founded in 2003.
Besides providing the software, NinjaTrader is a registered NFA (National Futures Association) company and an introducing broker of brokers like Phillip Capital and Dorman Trading. The introducing broker status means that your assets and cash are held with a broker, like Phillip Capital, but the platform, fees and customer support are provided by NinjaTrader.
In our review, we tested NinjaTrader's platform and brokerage services through an account opened with Phillip Capital. Phillip Capital is a global broker, regulated by top-tier financial authorities such as the US Commodity Futures Trading Commission (CFTC) and the UK's Financial Conduct Authority (FCA).
You can also connect the following brokerage accounts to NinjaTrader platforms: Interactive Brokers, TD Ameritrade, Oanda, Forex.com, FXCM and City Index. The advantage of connecting these accounts is that you can trade other popular asset classes, like stocks, on NinjaTrader's great platform.
Recommended for active traders focusing on futures
| Trading platform | Score | Available |
|---|---|---|
| Web | - | No |
| Mobile | - | No |
| Desktop | 4.8 stars | Yes |
#4 NinjaTrader
Web trading platform
At the time of the review, NinjaTrader provided only a desktop platform. The only way to use a web trading platform along with NinjaTrader's desktop trading platform is if you connect an external brokerage account, with a broker like Interactive Brokers or Oanda.
#4 NinjaTrader
Mobile trading platform
At the time of the review, NinjaTrader provided only a desktop platform. We think that a mobile trading platform is a big miss as traders can't follow their positions on the go. Similarly to the web platform, the only way to use a mobile trading platform along with NinjaTrader is to connect an external brokerage account, such as an account with Interactive Brokers or Oanda.
#4 NinjaTrader
Desktop trading platform
NinjaTrader's desktop platform is great for active traders: highly customizable with many advanced features. However, it might feel complicated at first, and also lacks a two-step login.
| Pros | Cons |
|---|---|
| • Clear fee report | • No two-step (safer) login |
| • Good customizability (for charts, workspace) | • Available only on Windows |
| • Good variety of order types | |
| • Many great tools for technical analysis |
NinjaTrader is specialized in providing a trading platform for active traders.
While NinjaTrader 7 is still available, we tested NinjaTrader 8. NinjaTrader 8 incorporates over 500 changes and enhancements, largely collected from client feedback. The desktop trading platform is available in English, Spanish, Russian, German, Portuguese.
Look and feel
The NinjaTrader desktop trading platform might be too complex for beginners, but for advanced users, this is where NinjaTrader really shines. Day-traders, who like to trade from the chart will especially like NinjaTrader.
The desktop platform is highly customizable and there are thousands of apps and add-ons in the NinjaTrader Ecosystem to personalize your platform. How is that possible? NinjaTrader offers a standards-based (.NET) programming environment for indicators and strategies that created a vibrant developer community.
The functionality of the platform depends on the license you choose:
- Free license: you can use only the core functions, like advanced charting, market analysis, or simulated trading.
- Lease license: you can also set up automated trading, backtesting, automatic protective stop loss and profit target orders (ATM Strategies) among many other features.
- Lifetime/Own license: you can use Order Flow+ features. It can help you identify buying and selling pressure to confirm market movement in a specific direction as the trading action unfolds through visualization of the order flow.
Login and security
NinjaTrader provides only a one-step login. A two-step authorization would be more secure.
The first time you want to use your account, you have to set your license key and the credential for the connection:
- You can set the license key, if you click on 'Help' and 'License Key'.
- You can set the credentials, if you click on 'Connections' and select 'Configure'.
Now you can simply log in, if you click on the connection you set up, such as 'My NinjaTrader Continuum'. After it's activated (becomes green), you'll see your positions and can start trading.
Search functions
The search functions work well. There are multiple ways to find an asset to trade.
Maybe the easiest way is to click on 'Tools' and then go to 'Instrument Lists'. Here, you can compile your own instrument lists or edit the pre-defined lists, like 'Futures' or 'Forex'. When you add a new asset to your list, you can search by typing its name or you can search through categories.
Placing orders
NinjaTrader has many order types, including more sophisticated ones, like One-Cancel-Other (OCO):
- Market
- Limit
- Stop limit
- Stop-loss
- Market if Touched (MIT)
- One-Cancel-Other (OCO)
If you are not familiar with the basic order types, read this overview.
There are also order time limits you can use:
- Good-Til-Cancelled (GTC)
- Good-Til-Date (GTD)
Alerts and notifications
You can set alerts and notifications on the desktop trading platform. Advanced alerting system is only available in the paid version.
Some example of the available alerts:
- Simple Moving Average Crossover: triggers when the current market price crosses above a 20-period Simple Moving Average.
- New Intraday High: triggers when a new High is formed intraday.
- Price and Fibonacci Retracements: compares the current market price to the 50% line drawn by a Fibonacci Retracements Drawing Tool.
Portfolio and fee reports
NinjaTrader has clear portfolio and fee reports. Using the 'Trade Performance' window, you can see your net profit or the commissions you paid. We also liked that the platform will calculate Sharpe ratio, Sortino ratio and the Ulcer index, among many others.
#4 NinjaTrader
Research
NinjaTrader has great research tools for technical trading. Charts are easy to use and have many indicators. Unique features include strategy back-testing and automated trading tools.
| Pros | Cons |
|---|---|
| • Good interactive chart | • No trading ideas |
| • Good set of analytical tools |
Just like for the desktop trading platform, we tested the research tools on NinjaTrader 8.
Charting
NinjaTrader has excellent charting tools. The choice of editor tools and indicators is almost endless. You can use 125 technical indicators. There are thousands of other indicators available through NinjaTrader's developer community, the NinjaTrader Ecosystem.
We also liked that it was really easy to add the editor tools and technical indicators to the chart.
Other technical research tools you will enjoy
There are a lot of other technical tools you can use. We just mention the top ones in our opinion:
- You can use automated trading tools through applications, like Bloodhound or Blackbird.
- You can easily build strategies. We also liked that it's easy to backtest these strategies.
Trading ideas
NinjaTrader does not provide trading ideas. However, they have a blog, where they post short articles that cover a variety of topics that traders might be interested in.
Fundamental data
As NinjaTrader's main focus is on the charting and other technical tools, they don't offer any fundamental data.
#4 NinjaTrader
Verdict
NinjaTrader is a great platform for futures trading.
On the plus side, we liked the low commissions. Its advanced platform is great for experienced traders, especially for futures traders. The educational material provided by Ninja is well structured and they have an active user forum as well.
NinjaTrader Brokerage has some drawbacks though. The fees for withdrawal are high, at $30-40 per withdrawal. There is no mobile platform and the desktop platform is available only on Windows. Lastly, the product portfolio covers only futures and options on futures.
As there is no fee for the demo account and you can open it within a few minutes, feel free to try NinjaTrader.
Below you can find links to all aspects of NinjaTrader in this comprehensive collection.
Lower fees, lower costs?
We detailed this in our NinjaTrader fees article.
What about the minimum deposit?
Our ultimate guide to the NinjaTrader minimum deposit is updated regularly.
How to start your NinjaTrader account?
Look no further than our evaluation of the NinjaTrader account opening.
How's their trading app?
Here's our expert view after checking the NinjaTrader trading app.
Is the quality of customer service satisfactory?
All you need to know about the NinjaTrader customer service.
Legit or scam?
Is NinjaTrader legit features all the key aspects you need to look at to see if a broker is safe and legit.
Free or premium? Or both?
A glance at actual costs and whether NinjaTrader is really free.
Is this broker good for beginners?
We checked it in Is NinjaTrader good for beginners.
Should you buy your silver bullets on NinjaTrader?
Research for silver bugs in the Silver buy on NinjaTrader guide
I want to trade options, are they available at NinjaTrader?
We explored the topic in Can you trade options on NinjaTrader?
Best trading platform for Europeans
What makes the best trading platform
An online broker and its trading platform can easily make or break your success in online trading. The platform has a big impact on your comfort as well as on your performance as a trader or investor. Thus, it is important to choose the online broker with the best trading platform.
‘Best trading platform’ in our definition means a trading platform that is not only great, but also has excellent research tools. The trading platform is important to execute your trades, while the research tools are necessary for getting trading ideas. Below we present the most important criteria for a great trading platform, and have added research tools as an extra.
| 1. User-friendliness | A user-friendly and well-equipped trading platform can significantly increase your trading comfort. |
| 2. Safe login | A two-step authentication during can protect you from unauthorized persons using your trading account. |
| 3. Search function | Searching for Apple or Amazon shares? On some trading platforms, it’s not a simple task. Check how easily you can use this feature. |
| 4. Order types | Order types are crucial for risk management. Providing stop orders is a must, while conditional orders are nice to have. |
| 5. Price alerts and notifications | Want to be up to date about price movements or the execution of your orders? Easy-to-set price alerts and notifications definitely help. |
| 6. Fee and portfolio reports | Portfolio reports help you keep track of your trading performance. The fees you pay to the broker are not always transparent even though this is an important factor in your success. |
| 7. Research tools | It is rare for a broker to provide research tools for both technical and fundamental analysis. Check what research tools the broker provides. |
Best trading platform for Europeans
Comparing broker fees
Fees were not a factor when selecting the best trading platforms but we wanted to inform you how much you have to pay if you want to sign up with the brokers that offer the best trading platforms for Europeans.
If your primary focus is only on fees we recommend that you check out the best discount brokers.
To get things rolling, let's go over some lingo related to broker fees. What you need to keep an eye on are trading fees and non-trading fees..
- Trading fees occur when you trade. These can be commissions, spreads, financing rates or conversion fees.
- Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.
You can compare below the trading fees of the 4 featured brokers with regard to the biggest stock markets, and most traded currency pairs and CFDs, as well as some non-trading fees.
| Saxo Bank | IG | Oanda | NinjaTrader | |
|---|---|---|---|---|
| US stock | $10.0 | $15.0 | - | - |
| UK stock | $10.4 | $10.4 | - | - |
| German stock | $12.0 | $12.0 | - | - |
| EURUSD benchmark fee | $7.8 | $16.5 | $7.8 | - |
| GBPUSD benchmark fee | $6.3 | $10.5 | $6.1 | - |
| US micro e-mini stock index futures | $40.0 | - | - | $3.5 |
| S&P 500 index CFD fee | $1.5 | $1.2 | $1.2 | - |
| Europe 50 index CFD fee | $2.1 | $1.6 | $1.3 | - |
| Apple CFD fee | $21.7 | $31.3 | - | - |
| Vodafone CFD fee | $22.8 | $27.6 | - | - |
There can be huge differences between trading fees, even if you want to do a simple US stock trade. To find out more about how the fares of different trading brokers stack up against each other, check out our ultimate comparison table.
Let’s take a look at non-trading fees as well.
| Saxo Bank | IG | Oanda | NinjaTrader | |
|---|---|---|---|---|
| Account fee | No | No | No | No |
| Inactivity fee | Yes | Yes | Yes | Yes |
| Withdrawal fee | $0 | $0 | $0 | $40 |
Best trading platform for Europeans
Keep in mind - safety
We recommend only quality brokers, so you can be sure that none of the listed online brokers are scams. In order to be sure, we check roughly 20 safety-related criteria, such as regulations, investor protection amount and the transparency of the broker’s financials. All the brokers you find on BrokerChooser are regulated by at least one top-tier financial authority.
However, financial companies can also go down. Remember Lehman Brothers? In these cases, it is important to know what happens with the securities, cash and derivative/leveraged positions on your account.
In a worst case scenario, for example, if the broker commits fraud or simply cannot pay to you, you have a last resort – the investor protection of the country where the broker is regulated.
The investor protection amount differs from country to country, so it is worth checking this before you open an account.
| Saxo Bank | IG | Oanda | NinjaTrader | |
|---|---|---|---|---|
| Investor protection amount |
€100,000 for cash deposits and €20,000 for securities for most European clients, £85,000 for UK clients, €100,000 for French clients, CHF 100,000 for Swiss clients, HKD 500,000 at Hong Kong entity, No protection for clients from Singapore, Japan, and Australia |
£85,000 in the UK, €20,000 in the rest of Europe excl. Switzerland, no protection in the US and many other countries | £85,000 in Europe, CAD 1,000,000 in Canada, none in the US, Australia, Asia, Japan | No protection |
| Country of regulation | Denmark, UK, France, Switzerland, Singapore, Japan, South Africa, Australia | UK, EU, Switzerland, USA, Singapore, Japan, South Africa, UAE, Australia, New Zealand | USA, UK, Australia, Singapore, Canada, Japan | USA |
| Visit broker |
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75% of retail CFD accounts lose money |
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74-89% of retail CFD accounts lose money |
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| More | More | More | More |
Best trading platform for Europeans
Bottom line
You saw the details, now let's zoom out. Here are the best trading platforms for Europeans in 2021:
| Saxo Bank | IG | Oanda | NinjaTrader | |
|---|---|---|---|---|
| Web platform score | 5.0 stars | 5.0 stars | 4.5 stars | - |
| Mobile platform score | 5.0 stars | 5.0 stars | 5.0 stars | - |
| Desktop platform score | 5.0 stars | - | 4.5 stars | 4.8 stars |
| Research score | 5.0 stars | 3.5 stars | 4.5 stars | 4.8 stars |
| Fees score | 3.1 stars | 3.0 stars | 4.3 stars | 4.2 stars |
| Visit broker |
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75% of retail CFD accounts lose money |
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74-89% of retail CFD accounts lose money |
Visit broker |
All of these brokers are considered a great choice. Pick the winner or any runners-up-up and take the next step in your investment journey. Let us know what you think in the comments section.
Still unsure? Use the broker finder and find the best broker for you or learn more about investing your money.
