Posted on 18 mars 2023 by Isabelle de Botton on FinTech

9 Best Forex Trading Apps of 2024

When choosing any financial management platform, it’s important to look for trustworthy providers. Used by traders in more than 180 countries and fully regulated, ForexTime’s FXTM software is a reliable platform for foreign exchange trading. IG also offers the popular MetaTrader 4 (MT4) app for traders who prefer the MetaTrader experience. Traders at IG also gain access to IG Academy, the broker’s standalone educational app.

It can give you raw information on the current order flow and valuable knowledge if you are a scalper. Its real-time insights into market liquidity and order book dynamics enable swifter execution and more informed trading decisions. One feature we were drawn to was the built-in Signal Centre on the platform, which offered chart pattern recognition tools from Autochartist and PIA First services. We set our platform up to test these signals and liked that each signal given had commentary and analysis. Plus, IG has a feature to copy the prices into an order ticket to execute the trade fast.

Best Forex Trading Apps

Additionally, you can use ICICI Direct’s forex trading to hedge your currency risk, diversify your portfolio, or speculate on market movements. We’ve seen firsthand that ThinkTrader, previously known as Trade Interceptor, shines as the top forex trading app for those just starting out and experienced traders who prefer on-the-move action. ThinkMarkets offers the app a user-friendly interface, seamless performance, and standout features. ThinkMarkets has done a stellar job in eliminating common hurdles that novices often face, making it our prime pick among the forex brokers we’ve explored. After our thorough analysis, we concluded that Pepperstone emerged as the top forex trading app for Android devices and smartphones.

CMC Markets’ cleanly designed Next Generation mobile app comes packed with research tools, integrated educational content, powerful charts, predefined watchlists, and more. Much like Saxo’s fantastic SaxoTraderGO platform suite, the look and feel of the CMC Markets mobile app closely resembles the web-based version of the Next Generation platform. Select your country of residency below to see which regulated forex brokers will accept you as a new customer for trading forex. Instead of dealing with the hassle of owning physical gold or cattle, you can indirectly invest through a brokerage account and trade commodity futures contracts. For example, you can invest in energy future trading applications to buy oil, natural gas, and other agricultural futures, like wheat and coffee.

  • Effective risk management practices are essential for traders to protect their portfolio from devastating losses.
  • This influences which products we write about and where and how the product appears on a page.
  • The reputation of Plus500 as a brand that provides swift and reliable trading execution is widely recognized.
  • IC Markets is the largest forex broker by trading volume, with over $774 billion in forex trading volume in the third quarter of 2021 alone, according to data compiled by Finance Magnates.
  • The platform provided by eToro is widely recognized and well-regarded for its reliable ability to execute trades, showcasing a notable emphasis on ease of use combined with optimal efficiency.

As countries engage in cross-border transactions, the need to convert one currency into another creates opportunities for traders to speculate on the relative strength or weakness of various currency pairs. This speculative nature of forex trading presents immense possibilities for profit, but also carries inherent risks. provides unbiased forex broker reviews and ratings to help traders and investors find the best broker for their needs. All content is researched, fact-checked, and edited by our research team and all ratings and rankings are based on the team’s in-depth product testing. XTB is a highly trusted brand with a proprietary platform (xStation 5) that delivers a rich selection of trading tools. XTB also offers CFDs for a wide range of asset classes, including multiple cryptocurrencies.

One of the primary advantages of forex trading apps is their ability to provide instant access to the forex market. Gone are the days of being tied to a desktop computer or a physical trading desk. With a simple tap on your mobile device, you can enter a world where currency pairs are bought and sold around the clock. Whether it’s during your morning commute, a lunch break, or even in the comfort of your own home, these apps empower you to seize trading opportunities whenever and wherever they arise.

Finally, some apps, such as those from IG, provide live forex signals with trade suggestions. Forex signals can be provided free of charge or users may have to pay a small fee, though we’ve seen a lot of scams in this space so be wary when selecting a firm. Some brokers with forex apps, such as CMC Markets, also stand out by offering forex indices, providing an alternative way to speculate on the value of key currencies like the USD, EUR and GBP. Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services.

We’ve also found that you may have to contend with slower execution speeds due to mobile network latency and app stability issues. A currency’s value can change at a second’s notice, so you’ll need immediately up-to-date value information in order to make the most informed trade possible. AvaTrade is one of the most secure brokers in the industry, carrying 7 regulations across 6 continents (Europe, Australia, Japan, British Virgin Islands, UAE and South Africa). Having traded since 1998, Justin is the CEO and Co-Founded CompareForexBrokers in 2004.

As with any investment endeavor, it is important to approach forex trading with a sound understanding of the risks involved. While forex trading apps offer convenience and accessibility, they do not guarantee profits. Traders must be mindful of market volatility, utilize risk management techniques, and develop a disciplined approach to trading. In recent years, technological advancements have revolutionized forex trading, making it more accessible to individual traders. Online trading platforms, equipped with robust tools and real-time market data, have empowered aspiring traders to participate in the forex market with relatively low capital requirements.

Best Forex Trading Apps

If you want to make a lot of money with little to no effort, trading forex isn’t the solution. In our live testing, we found that OANDA’s spreads were decent on the commission-free Standard account, averaging 1.4 pips on EUR/USD. While to become a skilled forex trader who can conquer the market takes a substantial amount of experience, the possibilities of investing and making billions become achievable. Spread refers to the amount of commission your forex broker takes from you, and should be minimized as much as possible.

Rather than trading through a centralized exchange, forex transactions take place over-the-counter (OTC) electronically, facilitated by a network of banks, financial institutions, and brokers. This decentralized structure provides traders with unparalleled liquidity and flexibility, allowing them to execute trades swiftly at competitive prices. Forex trading costs, however, whether via spreads or commissions, will be the same on mobile apps as they are on full online trading platforms. One of the pioneers of mobile trading, the application has been developed and refined over many years, meaning it is now among the best trading apps. Quick response, user-friendly layout, access to full charting and a stable and reliable application.

We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and an exhaustive list of other important fee-based data points. Check out our Forex Broker Compare Tool to compare dozens of the biggest forex brokers in the industry and analyze their top tools and features. Our Compare Tool is fed by data gathered by our expert researchers for our forex broker reviews, so you can feel confident you have the most up-to-date information at your fingertips.

Best Forex Trading Apps

Tastytrade (previously known as tastyworks) allows investors to trade commodities such as futures, options, futures options, ETFs, and stocks with no account minimum. Available commodities include energy (like coal and crude oil), agriculture (like corn and soybeans), precious metals (like gold and silver), and currencies. NerdWallet’s comprehensive review process evaluates and ranks the largest U.S. brokers by assets under management, along with emerging industry players.

This Forex app can be found on the Google App Store and currently has more than 5 million installs, half as much as the MT4 Android App. Developed in-house by the experts at ThinkMarkets, ThinkTrader is their proprietary mobile trading platform. With just over 500k installs, it might seem less popular than other apps, but don’t let that deter you. FxPro is an award-winning broker that offers access to more than 250 financial instruments in several asset classes such as Foreign exchange, Stock Indices, Metals and Energies.

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