Best Forex Trading Apps

With the rapid advancement in technology, there are now numerous forex trading apps available to help you manage your trades and keep up with the market trends while on the go.

We chose these apps based off a variety of factors, including ease of use, reliability and the range of features offered. In this article, we'll explore some of the top forex trading apps available in the market catering to various trading needs.

Quick Look: Best Forex Trading Apps

• Best for Overall for Forex: FOREX.com
• Best for Experienced Traders: Interactive Brokers (IBKR)
• Best for Beginners Trading CFDs: Plus500
• Best for Fast Execution: tastyfx
• Best for CFD and Forex Traders: City Index
• Best for Advanced Traders: Saxo

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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.

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Best Forex Trading App

The apps selected as the best forex trading apps come with minimal spreads, great tools, alerts, watchlists and fast trading speeds. Here's who makes the cut.

1. Best Overall for Forex: FOREX.com

FOREX.com is a highly trusted forex broker with some of the lowest spreads on the market. They have an impressive track record, have been offering trading services to clients since 2001 and are rated as the #1 forex broker for U.S. traders.

Why We Picked It: FOREX.com mobile trading app allows for full functionality. You get the same advanced charting options, news, and fund management as the desktop version all from the palm of your hand. With its user-friendly interface, it is a great trading tool for both beginner traders and experienced forex traders.

Special Features:

• FOREX.com mobile and MetaTrader mobile
• Available on both iOS and Android
• Two-factor authentication and bio-metric authentication 
• Watch your positions on an easy-to-navigate app
• Mobile app provides the same access as the desktop version
• Quality execution with one-swipe trading, advanced TradingView charting and analysis tools, real-time trade & order alerts, full account management features

2. Best for Experienced Traders: Interactive Brokers (IBKR)

Interactive Brokers is looked to as a top choice for institutional traders as the platform offers advanced trading tools more suited to experience forex traders. Interactive Brokers offers the IMPACT app for stocks and crypto, and the IBRK mobile app for trading forex and CFDs. Both have a lot of features similar to the web platform.

Why We Picked It: Interactive Broker forex trading app offers real-time forex quotes, interactive charts, risk management tools like stop-loss and take-profit orders, as well as account management features for users to monitor balances and transactions. IBKR mobile also includes financial news and market analysis tools to keep traders informed about market trends and events.

Special Features:

• Operating system for Android and iOS
• IMPACT app and IBKR mobile app
• Robust management tools
• Advanced quotes and research tools
• Institutional quality research
• Two-factor authentication
• Integration of financial news and market analysis tools
• 150 global markets

3. Best for Beginners Trading CFDs: Plus500

Plus500 is a global multi-asset fintech group that operates trading platforms globally, offering a range of trading products including CFDs, Share dealing, and Futures trading (US).

Why We Picked It: Plus500 provides mobile trading apps for Android and iOS devices, offering real-time price quotes, advanced charting tools, and instant trade execution for traders on the go. Remember that there may be overnight funding, currency conversion, guaranteed stop order and inactivity fees.

Special Features:

• Quick onboarding
• Two-factor authentication
• Simplified mobile trading
• Offers 2800+ CFDs
• $100 minimum deposit
• Watchlists, news, advanced charts, alerts, analysis, economic calendar, demo account, live chat

4. Best for Fast Execution: IG Group

tastyfx has been around since 2019 and is rated as one of the most trusted forex brokers, especially for U.S. based traders. tastyfx offers a suite of mobile apps for forex traders, including their main app IG Trading.

Why We Picked It: tastyfx Markets offers an easy-to-use mobile app with features such as alerts, trading signals, and advanced charts. Its user experience is similar to the one found on the desktop website. The mobile app doesn't cut out any features and allows you to place advanced and multi-step orders. tastyfx's mobile app also provides technical indicators, different chart types, and access to MetaTrader 4.

Special Features:

• Operating system for Android and iOS
• Advanced order types, trading from charts, Reuters news feed
• IG Trading app and MetaTrader mobile
• Personalized watchlists
• Real-time alert features
• Specific interface features for tablet users
• Suitable for new and advanced traders
• Two-factor authentication

5. Best for CFD Traders: City Index

City Index is a trusted brand that offers forex, CFDs and spread betting (UK only). They offer an impressive range of 13500 tradable symbols with diverse market research. Their mobile app combines advanced functionality with ease-of-use, including integrated research, news headlines, and market commentary.

Why We Picked It: City Index mobile apps offer a comprehensive trading experience. Users can create orders, build watchlists, and analyze markets with advanced charts. The apps display positions, orders, and stop losses directly on the charts. Additionally, you'll get real-time Reuters news and a customizable economic calendar.

Special Features:

• Operating system for Android and iOS
• Two-factor authentication
• Open a position on your desktop and close it on your smartphone
• Strategize your next move with full-screen TradingView charts
• Over 60 technical indicators
• Stay ahead of market trends with live notifications and updates
• One-swipe trading allows for quick and efficient trading

6. Best for Advanced Traders: Saxo

Saxo is a well-established trading platform with 30 years of industry experience. They offer a robust trading platform, excellent education resources and advanced charting tools. Saxo lets you trade on a high-performing platform with access to over 70,000+ financial products.

Why We Picked It: Saxo's SaxoTraderGO is a top choice for forex traders with a mobile app that closely mirrors the broker's web-based platform, offering nearly all the same features. SaxoTraderGO offers rich charting capabilities, syncs with the browser-based platform, and offers features like an economic calendar, market news, and pattern recognition analysis.

Special Features:

• Comprehensive suite of trading and investing features
• User-friendly interface
• Operating system for Android and iOS
• Two-factor authentication
• Trade ticket minimizes clicks and displays all relevant information in one place
• Trade Signals, live charts and a range of annotation tools
• 40+ technical indicators and drawing tools

How to Choose a Great Forex Trading App

All forex trading platforms and apps aim to fulfill their own niches within the market, but the most reliable and trustworthy trading apps all share the following characteristics.

• Regulatory Status: It is important to have a trustworthy broker who is regulated in multiple top-tier jurisdictions, such as the U.S., U.K., Australia, Singapore, Canada, Hong Kong, Japan, or Switzerland.
• Real-time Updates: 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. It's helpful to be able to set up alerts for currencies when they reach a certain price, software-driven trading notifications and historical data.
• Trading Platforms: Whether you are using the MetaTrader suite or another platform, be sure to choose a trading platform that meets your needs across devices, including on the web, desktop, or mobile app.
• Tools and Resources: Keep an eye out for rich research content, trading tools, and educational materials. Having comprehensive resources in your mobile app can help you make the most of trading opportunities.
• Tradable Markets: Brokers differ in the markets and instruments they offer. Some may offer a limited choice of currency pairs but a wide range of CFDs on various assets. If you trade exotic currencies, you'll want a broker with more forex pairs to choose from.
• Functional for Beginners and Experts: If you are new to forex trading you'll want an app with an easy to use interface that isn't overly complicated. But remember, you won't be a beginner forever. The mobile trading app should allow you to use more advanced charting and analysis tools as you improve.
• Demo Accounts: A free demo account allows you to test a trading app before making a commitment. If the platform suits your needs, you can open a live account. Demo accounts let you try out trading strategies before using real funds.

Trade on the Go with Forex Trading Apps

The forex trading markets are not only open to governments and large financial institutions anymore. With the advent of online trading platforms, anyone can access these markets and start trading without having to worry about the size of their bankroll. Investing in foreign currency pairs with small sums of money allows you to increase your investments and re-invest over time. Find the best platform for your needs and invest wisely.

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