Best Trading Central Forex Brokers

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Contributor, Benzinga
October 29, 2024

Trading Central is a leading one-stop shop that supports investment decision-making. It offers products and services for forex trading.

As a business-to-business solution, Trading Central is available only through brokers. More than 180 Trading Central brokers worldwide can provide you with market analysis to make sense of data, economic events and market news.

While not a substitute for thorough analysis and good risk management, the tools available through Trading Central brokers can help inform your decision-making on trades. Here’s a look at the best brokers to help you get the most out of your forex trading.

Quick Look: Best Trading Central Brokers

  • Best for Full Integration of Trading Central in Platform: FOREX.com
  • Best for Efficiently Executing Orders: Interactive Brokers
  • Best for Consistent, Solid Performance: City Index
  • Best for Multi-Assets and Intuitive Platform: Plus500
  • Best for Cryptocurrency and Copy Trading: eToro
Disclosure: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% to 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. The products and services available to you at FOREX.com will depend on your location and on which of its regulated entities holds your account

Best Trading Central Brokers

Without further ado, here are the best Trading Central brokers for forex: 

1. Best for Full Integration of Trading Central in Platform: FOREX.com

FOREX.com is a global broker of foreign exchange (forex) and contracts for difference (CFDs), which are banned in the United States.

Why We Love It: Trading Central is fully integrated into FOREX.com’s proprietary Web Trading platform and provides a responsive user experience, including on its mobile app.

2. Best for Efficiently Executing Orders: Interactive Brokers

A multinational brokerage known for its diverse asset selection, Interactive Brokers caters to a range of trading strategies and is best suited for professional and institutional traders.

Why We Love It: Interactive Brokers incorporates Trading Central into its Client Portal and Trader Workstation (TWS) platforms. Many of Trading Central’s tools help Interactive Brokers’ array of assets, though they don’t provide forex support. 

3. Best for Consistent, Solid Performance: City Index

City Index is based in the United Kingdom and has been in business since 1983. It is one of the world’s largest trading providers.

Why We Love It: City Index has made Trading Central part of its platform, providing users seamless access to fundamental and technical analysis across many assets, including forex.

4. Best for Multi-Assets and Intuitive Platform: Plus500

Plus500 is a global financial technology (fintech) group that operates several trading platforms and is listed on the London Stock Exchange.

Why We Love It: Plus500 has an intuitive platform for forex trading. Trading Central is integrated into Plus500 and its analysis is accessible directly through Plus500 charts. Simply activate Trading Central, select a forex pair and indicators and signals will display right on the chart for you to consider. 

5. Best for Cryptocurrency and Copy Trading: eToro

Available on the web and via mobile app, eToro aims to make trading accessible to everyone by reducing dependency on financial institutions. The company's headquarters are in Israel.

Why We Love It: Forex trading isn’t available to clients in the U.S. on eToro. However, you can use Trading Central with other assets to build and evaluate investment strategies, including backtesting your portfolio strategy, using value indicators to create a plan and viewing emerging pricing patterns.

Trading Central vs. TradingView

Trading Central and TradingView both started with similar goals: to provide information to help retail traders make trade decisions. The two services diverge where they meet traders.

Trading Central, a leading fintech company, works on a business-to-business model to provide traders with research and big data analytics through algorithms, machine learning and natural language processing. It’s only available through brokers, most of whom offer it free to clients, though some charge a one-time surcharge or subscription.

TradingView is available to anyone, with or without a broker. It’s known for its technical analysis tools, charting and social networking, which allow users to chat and share ideas with other traders and follow market pros.

TradingView offers a free basic plan with limited features. However, you can purchase tiers that provide escalating access to better research and analysis and greater use of technical indicators and other tools.

Similar to Trading Central, TradingView can be integrated with some online brokers.   

What Is Trading Central?

Founded in 1999 in France, Trading Central is a fintech company that offers online brokers an investing solution to include with the services they provide to retail traders.

Trading Central boasts various features and tools, including those for research and analysis, to aid investors in making trade decisions. These products and services include automated analytics driven by AI and natural language processing, all-day coverage of economic events and news and more.

The company strives to boost retail traders' confidence in making investing decisions by providing institution-level investment research and education.

The MetaTrader 4 (MT4) and MetaTrader 5 (MT5) plug-ins are some of the most used services for forex traders. The portal’s advanced Economic Calendar also sees frequent use.

Trading Central is integrated into some online brokers’ proprietary trading platforms and investors can take action directly on Trading Central signals as soon as they’re published through Trading Central’s products.

In 2019, Trading Central launched TC Lab to use AI and natural language processing to support investment decision-making. TC Lab’s processing powers a product that reviews thousands of publications, blogs and social media posts to deliver the most talked-about news, insights and market sentiments.

Pros of Trading Central

With a strong emphasis on understanding the needs of its users, Trading Central provides trading analytics, all-day coverage for news trading and signals to aid traders. 

Trading Central’s main advantages include:

  • Automated analysis tools
  • Investment research tools 
  • Round-the-clock market coverage

Traders can use Trading Central signals to find trade opportunities and employ its many tools to help manage risk and trade time.

Cons of Trading Central

With its focus on technical analysis, Trading Central may appear too complex for beginning traders. This can be compounded by the limited support directly from Trading Central, which also isn’t available to retail traders.

Here are some of the platform’s notable drawbacks:

  • Technical analysis focus is too complex for beginners
  • Direct support is limited 
  • Available only through brokers

Moreover, analyst recommendations may not align with your trading strategies and they don’t guarantee you’ll make a profit. 

Find Out Whether These Trading Central Brokers Are Right for You

Trading Central can provide useful trade ideas and analysis to help inform your trade decisions. The best Trading Central brokers for forex range from being intuitive and beginner-friendly to complex and best-suited for professionals.

No matter your level of trading, Trading Central’s many features, tools and professional-level research can help you develop a better head for trading.

Frequently Asked Questions 

Q

Why do traders use Trading Central?

A

The platform’s market intelligence and technical analysis can help traders evaluate possible trades and formulate the right investment strategies.

 

Q

Is Trading Central good for trading forex?

A

Definitely. Several forex brokers use Trading Central to provide their clients with trading ideas, research tools and technical analysis.

 

Q

Is Trading Central free?

A

TC Investor Newsletters, TC Learning Center and TC Market Updates are all free products Trading Central offers. However, the analysis, instruments, research and tools are available only through brokers. Some offer Trading Central for free, while others may charge a one-time fee or subscription.

Get a Forex Pro on Your Side

FOREX.com, registered with the Commodity Futures Trading Commission (CFTC), lets you trade a wide range of forex markets with low pricing and fast, quality execution on every trade. 

You can also tap into:

  • EUR/USD as low as 0.2 with fixed $5 commissions per 100,000
  • Powerful, purpose-built currency trading platforms
  • Monthly cash rebates of up to $9 per million dollars traded with FOREX.com’s Active Trader Program

Learn more about FOREX.com’s low pricing and how you can get started trading with FOREX.com.