10 Best Forex Trading Apps in 2022 Market Pulse

To rank each mobile trading platform, we assessed over a dozen individual variables, and all testing was conducted using Samsung Galaxy S9+ and Samsung Galaxy S20 Ultra devices running Android OS 12. Below, we review the best mobile forex trading apps available in the United States. After giving cTrader a whirl, we genuinely believe it’s a stellar alternative to the MetaTrader platform, especially when powered by FxPro. Users can seamlessly manage their accounts and tap into fund management services within the FxPro Direct App. What sets cTrader for Android apart is its dedicated section for price alerts, letting traders efficiently manage push notifications.

According to research from the Bank for International Settlements, forex trading generates an estimated $5.3 trillion daily – making it larger than other financial markets. Often, it’s dominated by large international banks and corporations, which work around the clock to trade and convert international currencies. While MT4 and MT5 are incredibly popular due to their wide availability, many of the best mobile apps are developed in-house by some of the best online brokers, such as Saxo and IG.

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We used the 14-day free trial on the Trading Station app for Android to give it a whirl. With a whopping 10 million downloads across over 140 nations on the Google store, the eToro Android app is one of the most popular on the market. To help you trade forex successfully, beginners can also find an extensive glossary containing terms structured in key categories such as Foreign Exchange, Economics, Analysis, Trading and more. This means you get access to all available bid and ask prices at different volumes. Being able to assess market depth accurately before placing our orders meant we got the optimal execution prices. Similarly to our RAW spread testing, we conducted speed tests using MT4 for both limit and market orders across 20 top brokers.

• It stands out by drawing its strength from an intuitive interface, personalised signals, a free trial, and the bonus of SMS notifications.
• An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.
• Since FXTM is globally licensed, users’ funds are guaranteed protected.
• MetaTrader five is a powerful and versatile trading platform that has gained popularity for its advanced features and user-friendly interface.

Funding your account using one of the following payment methods is easy. Pepperstone also had low RAW spreads starting from just 0.1 pips for the EUR/USD forex currency pair. Ross from our team tested the RAW spreads of over 40 Forex brokers for the EUR/USD pair. From his testing, IC Markets had the lowest RAW spread for EUR/USD at just 0.02 pips which is 0.20 pips below the industry average. Another risk management tool offered by Plus500 is negative balance protection. As a retail investor, this policy means your accounts cannot lose larger amounts than your initial deposits.

Trading Central signals

We advise you to carefully consider whether trading is appropriate for you in light of your personal circumstances. We recommend that you seek independent financial advice and ensure you fully understand the risks involved before trading. As an in-house mobile trading app, the Plus500 platform can be found on the Google App Store and currently has more than 5 million installs, half as much as the MT4 Android App. Our team at Compare Forex Brokers found the MetaTrader 5 (MT5) Android app powered by IC Markets to be the best platform for trading CFDs. Other features include real-time news from FX Wire Pro, in-app deposits and withdrawals, and customizable trading history reports. With all these features, users can easily stay up to date with the help of real-time news flashes, make deposits and submit withdrawal requests, and review their trading history at a glance.

The best free trading app for Forex signals is Trading Station by FXCM, but if you like more interaction and copy trading solutions, you can opt for the eToro Android app. Meanwhile, risk-averse traders can enjoy a safer trading environment with the Plus500 app. Similarly, ThinkMarkets’ in-house platform (ThinkTrader) has TrendRisk Scanner which scans financial markets for high-probability trades and notifies you on your phone. All you have to do is install these apps from the Google Play Store, open them, and log into your demo or live Forex broker account to start trading. Pepperstone, for example, allows you to trade on mobile with its MT4, MT5, and cTrader apps. Some brokers also have in-house mobile platforms such as ThinkTrader for ThinkMarkets.

Discover Your Next Trade

The forex trading app should have real-time and up-to-date information as this is of high importance in trading. This is mainly because a currency can have changing values within just seconds, and making decisions that International Commerce Erp are concise is critical. TD Ameritrade is one of America’s biggest and more established trading platforms for stocks and shares, as well as for forex, and offers a wide range of investment vehicles for trading.

With functionality, you can automatically replicate the trades of experienced and successful traders — making it convenient for new users who may not have the time or experience required. However, a word of caution to fellow retail traders – these trading signals shouldn’t be mistaken for investment advice. Making trading decisions based purely on these signals rests squarely on your shoulders, and it’s crucial to tread carefully. Ross Collins, our Chief Technology Researcher, tested the average RAW account spreads for 15 of the top brokers and found that Pepperstone’s RAW account averaged 0.36 pips. That put Pepperstone in the top five and helped earn the broker our ‘Best Overall’ designation in a number of categories.

Exness Trade app

Any account that is opened via the XM App can also be used on our MT4 and MT5 platform. To gain access to the XM App, you have to download it from the Apple App store or Google Play by searching XM.COM. To start using the app, download it, follow the account opening procedure, make a deposit and start trading immediately. Experience a seamless mobile trading experience today, with the new and improved XM app.

Each year, we collect thousands of data points and publish tens of thousands of words of research. A trading platform helps you design your trading strategy and place your orders. Your broker executes those orders and charges a fee to do so in the form of a spread or a commission.

This excellent experience across devices ensures you never miss a trading opportunity, regardless of your location. In our tests, we traded with a RAW account, as they are one of the few NFA-regulated brokers offering this account type. We found that the RAW account averages 0.0 pips on EUR/USD, with a commission of $7.00 per lot traded, which is competitive for NFA-regulated brokers. This pricing structure can suit you if you trade frequently, as the tight spreads and fixed commission costs can give you stable trading costs, even during volatile markets.

It stands out by drawing its strength from an intuitive interface, personalised signals, a free trial, and the bonus of SMS notifications. What we found, however, is that Plus500 allows GSLOs on some financial instruments only and will apply an additional spread. EToro’s mobile app for Android devices requires Android 5.0 or later, while the app for iPhone, iPad or iPod touch requires iOS 14.0 or later. EToro’s mobile app for Android devices requires Android 5.0 or later, while the app for iPhone, iPad or iPod touch requires iOS 10.0 or later. The reason ThinkTrader stood out to us, however, is its risk management features and extensive educational resources. Low spreads will save you trading costs, and this can be significant if you are a high-volume trader.

The best forex trading apps of 2024 in full:

Several top forex trading apps including FOREX.com, TD Ameritrade and IG. 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. IG provides a mobile application with a clean and easy-to-navigate interface. 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.

Supports

Once your funds leave our custody, it’s up to your chosen payment provider to process the funds and credit your account. The entities above do not offer services to residents of certain jurisdictions including the USA, Iran, North Korea, Europe, the United Kingdom and others. Control your trading and stay informed on the status of your positions.