A well-designed trading app can be a game-changer for beginners and experienced traders. Here, we look at ten of the best forex trading apps, their features, pros and cons, and suitability for different types of traders.
Here is our list of the 10 best Forex Apps:
Broker:
Forex App Availability:
Advantages:
Account:
Android & iOS
- No Minimum Deposit
- Spreads from 0.0 Pips
- 26,000+ Markets
- Leverage up to 1:500
- Low Commission from 2$/1 Lot
- High liquidity and fast execution
- TradingView, MT4/5, cTrader, Invest Account
- New Zealand regulated
Android & iOS
- ECN Accounts
- Spreads from 0.0 Pips
- Copy Trading available
- Leverage up to 1:500
- Low Commission from 1.5$/1 Lot
- High liquidity and fast execution
- TradingView, MT4/5, cTrader, Pro Trader
Android & iOS
- Different ECN Accounts
- Spreads from 0.0 Pips
- Copy Trading available
- Leverage up to 1:2000
- Low Commission from 6$/1 Lot
- High liquidity and fast execution
- TradingView, MT4/5, cTrader, Pro Trader
Android & iOS
- ECN/STP Accounts
- Spreads from 0.0 Pips
- Leverage up to 1:1000
- Low Commission from 3$/1 Lot
- High liquidity and fast execution
- MT4/5 and Pro Trader
Android & iOS
- 5x regulated broker
- Spreads from 0.0 Pips
- More than 10,000 markets
- Leverage up to 1:500
- Low Commission from 3$/1 Lot
- High liquidity and fast execution
- TradingView, MT4/5, cTrader, IRRES
Android & iOS
- Tier-1 Regulated Broker
- Spreads from 0.0 Pips
- Leverage up to 1:500 (1:30 EU)
- Low Commission from 3$/1 Lot
- High liquidity and fast execution
- TradingView, MT4/5, cTrader
Android & iOS
- Raw Spreads from 0.0 Pips
- Leverage up to 1:500
- Low Commission from 3$/1 Lot
- High liquidity and fast execution
- cTrader, MT4 ,MT5
Android & iOS
- Multiple regulated
- Spreads from 0.0 Pips
- Leverage up to 1:500 (1:30 EU)
- Low Commission from 2$/1 Lot
- Personal support
- MT4, MT5
Android & iOS
- Spreads from 0.0 Pips
- Leverage up to 1:500
- Low Commission from 4$/1 Lot
- High liquidity and fast execution
- TradingView, MT4/5
Android & iOS
- Offshore A-Book Broker
- Spreads from 0.0 Pips
- Leverage up to 1:500
- High liquidity and fast execution
- MT4, MT5
1. BlackBull Markets
BlackBull Markets is a well-known forex broker, often favoured for its competitive spreads and relatively sophisticated trading tools.
The BlackBull Markets app is a good blend of user-friendliness and sophistication. It is designed to cater to traders of all levels and has accessibility and advanced features, and it is our winner in this comparison.
Key Facts About The Forex App Of BlackBull Markets:
| Feature | Information |
|---|---|
| Mobile Forex trading app | Yes |
| Availability | Forex, commodities, indices, cryptocurrencies, stocks, CFDS |
| Free download: | Yes |
| Regulation | Regulated by The Seychelles Financial Services Authority (FSA). |
| Markets offered | The Standard Account has no commissions but higher spreads, the Prime Account has $3 per side or $6 round turn per lot |
| Spreads from | BlackBull Prime Account is 0.16 (forex), which means an all-in cost of 0.76 |
| Commissions | The Standard Account has no commissions but higher spreads, the Prime Account $3 per side or $6 round turn per lot |
| Support | Good, multiple Support channels, growing library of educational resources |
| Other apps: | MT4/5, TradingView |
Pros of the BlackBull Markets app
- Low spreads – BlackBull Markets offers competitive spreads that traders find translate into lower trading costs
- Integration – the app integrates well with their desktop platform
- Strong support – the app comes with extensive educational resources and excellent customer support, especially beneficial for new traders
Cons of the BlackBull Markets app
- You can’t set price alerts in this app without using a third-party provider.
- There is no 2-step or biometric authentication built into the app
- Complexity for beginners – the advanced features can make this an overwhelming forex trading app for beginners who are entirely new to trading
The app is best for traders looking for a powerful app with advanced features that nonetheless leans into extensive educational resources- look for the BlackBull Shares Trading app in the App Store or Google Play Store.
2. Vantage Markets
Established traders appreciate the Vantage Markets app as a versatile trading platform in a user-friendly package.
The app supports a range of trading instruments and will give you a smooth trading experience, whether using an Android device or an iPhone.
Key Facts About The Forex App Of Vantage Markets:
| Feature | Information |
|---|---|
| Mobile Forex trading app | Yes |
| Availability | Good, 24/7 support, sports an “Education Trading Room” – loads of e-books |
| Free download: | Yes |
| Regulation | Vanuatu Financial Services Commission (VFSC), Australian Securities and Investment Commission (ASIC), Financial Sector Conduct Authority (FSCA) of South Africa, Financial Conduct Authority (FCA) in the UK |
| Markets offered | Forex, indices, commodities, cryptocurrencies, stocks and bonds |
| Spreads from | Starts at 0.0 pip for RAW ECN accounts, 1.0 pip for Standard STP accounts |
| Commissions | Raw ECN account holders will pay $3.00 commission per lot per trade |
| Support | Good, 24/7 support,sports an “Education Trading Room” – loads of e-books |
| Other apps: | MT4/5, TradingView |
Pros of the Vantage Markets app
- User-friendly design – the app’s intuitive design makes it easy for both new and experienced traders to navigate
- Flexibility – the app offers a wide range of trading instruments, and you can customise fairly extensively
- Educational content is pronounced, with tutorials and practice accounts for new traders.
- There is 2-step authentication built into the app
Cons of the Vantage Markets app
- You can’t set price alerts in this app without employing a third-party add-on.n
- There is 2-step authentication on the app, but no biometrics
- This app can be a somewhat overwhelming forex trading app for beginners – the extensive features and customisation options might be too complex for beginners who are just starting
The Vantage Markets app is best for (more established) traders who need a flexible platform with a wide range of instruments and customisation options.
3. RoboForex
RoboForex is known for its extensive range of trading tools and strong trading performance.
The app has been designed as an attempt to cater for a broad spectrum of traders, from beginners to more seasoned traders.
Key Facts About The Forex App Of RoboForex:
| Feature | Information |
|---|---|
| Mobile Forex trading app | Yes |
| Availability | Forex, stocks, commodities, indices, cryptocurrencies, ETFS |
| Free download: | Yes |
| Regulation | Regulated by the International Financial Services Commission (IFSC) of Belize |
| It varies depending on the type and is as low as $2 per lot on ECN accounts. | VIt varies depending on the type, and is as low as $2 per lot on ECN accounts. |
| Spreads from | Variable spreads from 1.3 pips |
| Commissions | Vit varies depending on the type, and is as low as $2 per lot on ECN accounts. |
| Support | Good Support, decent educational resources |
| Other apps: | MT4/5 |
Pros of the R MobileTrader app
- Comprehensive tools – this app offers various advanced trading tools and features.
- Educational content – there are extensive resources for both beginners and experienced traders.
- Copy trading – you can leverage the strategies of experienced traders on the RoboForex app.
Cons of the R MobileTrader app
- Complexity – the advanced features and tools can present an intimidating smorgasbord for those new to forex trading
App trading on Android or ios with RoboForex will suit those who want low fees on a well-rounded app with advanced features and copious educational resources.
4. Moneta Markets
Moneta Markets has been widely acknowledged for building an app with an intuitive design and strong performance across various devices—the experience is the same regardless of platform.
The app provides a user-friendly experience, focusing on accessibility and functionality rather than forcing users to spend time understanding its layout.
Key Facts About The Forex App Of Moneta Markets:
| Feature | Information |
|---|---|
| Mobile Forex trading app | Yes |
| Availability | Forex, indices, commodities, cryptocurrencies, ETFS, bonds |
| Free download: | Yes |
| Regulation | Financial Sector Conduct Authority (FSCA) of South Africa and the Financial Services Authority (FSA) of Seychelles |
| Markets offered | On the ECN account, it’s a $3.00 commission per lot per trade |
| Spreads from | From 0.0 pips on Standard, Prime and ECN Forex and CFD trading accounts |
| Commissions | On the ECN account it’s $3.00 commission per lot per trade |
| Support | Fair Support service, but mixed reviews online |
| Other apps: | MT4/5 |
Pros of the Moneta Markets app:
- Ease of use – the app’s intuitive design makes it accessible for traders of all experience levels
- Educational tools – this includes practice accounts and educational materials to help new traders learn
- Customer Support – The brokerage provides support to assist you with any issues, but response times can be slow
Cons of the Moneta Markets app
- Limited advanced features – the app lacks some of the more advanced tools offered by other platforms
The app will likely best suit new traders looking for a straightforward, user-friendly app with solid educational support.
That said, many more experienced traders also use the app, very often those who trade on the Moneta Markets platform online and want to carry their trades into the mobile realm.
5. FP Markets
FP Markets is a well-established forex broker with a reputation for competitive spreads (and a high-quality trading app).
Their app caters to a range of traders and offers extensive features and excellent support, but it does presume basic trading proficiency.
Key Facts About the Forex App Of FP Markets:
| Feature | Information |
|---|---|
| Mobile trading app | Yes |
| Availability | forex, indices, commodities, cryptocurrencies, stocks |
| Free download: | Yes |
| Regulation | Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (Cysec), and the Financial Services Authority (FSA) of Seychelles |
| Markets offered | Strong support, great educational resources, including trading podcasts |
| Spreads from | Variable spreads starting at 0.0 pips on their RAW account |
| Commissions | From $3 per lot per side on RAW accounts |
| Support | Strong Support, great educational resources including trading podcasts |
| Other apps: | MT4/5 |
Pros of the FP Markets app
- Competitive spreads – FP Markets offers low spreads and competitive trading conditions
- Strong educational support – they provide extensive resources and practice tools for new traders.
- Reliable performance – the FP Markets app is well known for its stable and reliable performance
- You’ll get confirmation of successful trades via the app
- There is no 2-step authentication, but the app does sport biometrics
Cons of the FP Markets app
- Complex for beginners – the offered range of advanced features can be challenging for complete beginners.
- You can’t set price alerts in the app.
This would be a good choice if you need a reliable app with competitive trading conditions and strong educational support.
Rather than cramming the app with all the sophistication it can accommodate, FP Markets has produced a welcoming and intuitive app that facilitates a broad spectrum of traders.
6. Pepperstone
Pepperstone is a highly regarded Australian forex broker known for its cutting-edge trading technology and excellent customer support. Its app is designed to offer a comprehensive trading experience.
Key Facts About The Forex App Of Pepperstone:
| Feature | Information |
|---|---|
| Mobile Forex trading app | Yes |
| Availability | Forex, indices, commodities, CFDS, cryptocurrencies |
| Free download: | Yes |
| Regulation | Regulated by the Australian Securities and Investments Commission (ASIC) and the Financial Conduct Authority (FCA) in the UK |
| Markets offered | Forex, indices, commodities, CFDs, cryptocurrencies |
| Spreads from | Variable spreads starting at 0.0 pips on Razor accounts |
| Commissions | From $3.50 per lot per side on Razor accounts |
| Support | Good 24/5 Support and a decent educational offering |
| Other apps: | MT4, MT5, cTrader |
Pros of the Pepperstone app
- Advanced technology – the Aussies have focused on offering cutting-edge trading technology that results in fast execution.
- They also try to provide excellent customer support alongside good educational resources.
- User-friendly interface – the app is designed for both experienced and new traders
Cons of the Pepperstone app
- Advanced feature bewilderment – some of the advanced features might be too complex for beginners
- There is no 2-step or biometric authentication built into the app
A great all-rounder that suits seasoned traders looking for a technologically advanced app.
It’s also a forex trading app for beginners, as newbies will enjoy the strong support and educational resources.
7. IC Markets
IC Markets is recognised for its reliability and success in meeting the needs of all comers.
The company provides an app with a range of features designed to meet the needs of both new and experienced forex traders.
Key Facts About The Forex App Of IC Markets:
| Feature | Information |
|---|---|
| Mobile Forex trading app | Yes |
| Availability | Forex, commodities, indices, cryptocurrencies, and stock |
| Free download: | Yes |
| Regulation | Regulated by the Australian Securities and Investments Commission (ASIC), CYSEC, and the Seychelles Financial Services Authority (FSA) |
| Markets offered | Forex, commodities, indices, cryptocurrencies, stock |
| Spreads from | Variable spreads starting at 0.0 pips on IC Markets’ True ECN account |
| Commissions | From $3 per lot per side on True ECN accounts |
| Support | Good Support, with a decent educational library |
| Other apps: | MT4/5, cTrader |
Pros of the IC Markets app
- Reliable performance – the app gives stable and reliable trading performance
- Educational Support – good range of educational tools and practice accounts
- User-friendly – an intuitive interface that’s suitable for traders of all experience levels
Cons of the IC Markets app
- Limited advanced features—Some traders might find that this app lacks some of the more advanced tools other platforms offer.
- No 2-step or biometric authentication exists; you cannot set a price alert.s
This is an excellent app if you’re looking for a reliable mobile trading experience. It offers a good balance of advanced features and educational resources. Still, it’s a pity the missing bits are missing.
8. XM
XM is a well-established forex broker with a feature-rich trading app.
The XM app is known for its strong educational support and user-friendly design (making it a good forex trading app for beginners).
Key Facts About The Forex App Of XM:
| Feature | Information |
|---|---|
| Mobile Forex trading app | Yes |
| Availability | Regulated by the Cyprus Securities and Exchange Commission (Cysec) and the Australian Securities and Investments Commission (ASIC) |
| Free download: | Yes |
| Regulation | Forex, CFDS, commodities, indices, cryptocurrencies, stocks |
| Markets offered | Forex, CFDs, commodities, indices, cryptocurrencies, stocks |
| Spreads from | Variable spreads starting around 0.1 pips. |
| Commissions | No commissions charged on Standard Accounts |
| Support | Strong 24/5 Support, with extensive educational resources |
| Other apps: | MT4/5 |
Pros of the XM app
- Strong educational focus – they provide extensive educational resources and practice tools.
- User-friendly design – the app is easy to navigate, making it a great forex trading app for beginners, but also eminently suitable for experienced traders
- Reliable performance – the app has to date provided stable and reliable performance
Cons of the XM app
- Limited advanced features – some advanced tools may be less developed compared to other platforms’ apps
- There is no 2-step or biometric authentication built into the app
This is a good app for traders seeking a reliable app with strong educational support and a user-friendly design, and their support is up there with the best.
9. FBS
FBS is celebrated for its user-friendly design and comprehensive trading features. The app is designed to accommodate traders of all levels and provide a smooth trading experience.
Key Facts About The Forex App Of FBS:
| Feature | Information |
|---|---|
| Mobile Forex trading app | Yes |
| Availability | Regulated by the International Financial Services Commission (IFSC) in Belize and the Cyprus Securities and Exchange Commission (Cysec) |
| Free download: | Yes |
| Regulation | Fair Support- mixed online reviews, ample educational resources |
| Markets offered | Forex, commodities, indices, cryptocurrencies |
| Spreads from | Variable spreads starting at 0.0 pips on ECN accounts |
| Commissions | From $6 per lot per side on ECN accounts |
| Support | Fair Support－mixed online reviews, ample educational resources |
| Other apps: | MT4/5 |
Pros of the FBS app
- User-friendly interface – the app is easy to use, making it suitable for traders of all experience levels
- Good educational material, including practice accounts and educational materials for newcomers to trading
- Reliable performance- the app is free of glitches and gives you a stable and reliable trading performance
Cons of the FBS app
- Limited advanced features – some of the more advanced tools may not be as developed as those offered by FBS’ competitors
The app will likely best suit beginners who need a straightforward app with strong support and educational resources.
More experienced traders might still find it suitable, but many will likely be frustrated by features they’d expect from a trading app.
10. VT Markets
VT Markets is another brokerage recognised for its competitive trading conditions and comprehensive app features.
Their app is designed to offer a balanced trading experience for both new and experienced traders. It combines supportive features with some more advanced features.
Key Facts About The Forex App Of VT Markets:
| Feature | Information |
|---|---|
| Mobile Forex trading app | Yes |
| Availability | Android and iOS |
| Free download: | Yes |
| Regulation | Regulated by the Australian Securities and Investments Commission (ASIC) |
| Markets offered | Forex, commodities, indices, cryptocurrencies |
| Spreads from | From around 0.2 pips |
| Commissions | Varies by account type; generally included in spreads on Standard Accounts, $6 commissions per standard lot, per round on RAW ECN accounts |
| Support | Strong 24/5 Support and educational materials |
| Other apps: | MT4/5 |
Pros of the VT Markets App
- Competitive trading conditions – the platform offers low spreads and competitive trading costs.
- User-friendly design – it’s easy to use and navigate, making it suitable for traders of all levels.
- Security and communication – there is 2-step authentication and confirmation of trades.
- Educational support – the app comes with a decent range of academic resources and practice tools
Cons of the VT Markets App
- Limited advanced features – some advanced features might present as less developed when compared to other platforms
The VT Markets app might be ideal if you’re looking for a trading app that offers competitive fees and unambiguous educational support in a user-friendly design.
How Did We Choose The Best Forex Trading Apps For This Review?
Three primary considerations determined who we evaluated for this review: usability, available features, and safety.
- Usability implies the ease of use and functionality in trading. Does the app provide the data and tools you need to trade effectively?
- An app’s available features correspond to the point above, and without focusing on specialised traders, most apps today are expected to display all the basic features and more advanced capabilities.
- Safety comes first in smooth operation—the app doesn’t habitually fail in mid-trade, causing you to suffer losses. Butut goes further into 2-step authentication and even biometric control of your mobile app.
- Many of the apps above lack even 2-step authentication. Still, they cut because of the other considerations, and since 2-step authentication is becoming more common, security features are becoming standard on trading apps.
It is essential to check all the details of every Forex Trading App to determine which one is the best.
Steps To Trade With A Forex Trading App
The steps to trading on an app are very similar to desktop trading, with the apparent difference being that you’re on a mobile device.
- Step 1: After choosing your preferred brokerage and establishing your account, open the app and log in with your trading account credentials.
- Step 2: With your trading plan in mind, perform market analysis to determine which currency pairs might offer profitable trading opportunities.
- Step 3: Choose the forex pair you’d like to trade.
- Step 4: Go long or short (buy or sell) as market conditions dictate.
- Step 5: Monitor and close your trade at your predetermined take-profit point.
Pros And Cons Of Forex Apps:
Like any innovation, forex trading apps come with both pros and cons.
Forex trading app pros
- Give the ability to trade from anywhere
- Quick trade execution
- Fast Market monitoring
- Instant push notifications
- Streamlined interface for basic forex trading
- Various order types are available
Forex trading app cons
- Complete toolbox most on the browser platform
- A substantial amount of battery power
- Needs a constant internet connection
Trading On An FX App vs Trading On a Computer
There are several considerations when contemplating trading via an app or desktop platform.
It’s worth noting that traditional wisdom eschewed app trading, although it’s hard to deny that improved smartphones and the predilections of a younger trading generation have offset that somewhat.
| Feature | Trading app | Desktop platforms |
|---|---|---|
| Portability and accessibility | The main advantage of trading apps is that they allow for mobile trading (anywhere/anytime access) | Desktop trading lacks mobility, but is often more conducive to focused trading in a stable environment. |
| Screen size and UX | Desktop screens allow you to view multiple charts and analysis tools side by side, enabling better-informed trades. | Using 2-step authentication and biometric security, but lost devices and mobile-specific malware are still a cause for concern. |
| Reliable performance | Desktop trading gives you a more consistent and stable trading environment. You’ve usually made a Plan B in case the lights go out. | The mobile app’s trump card is that notifications and alerts are instant and noticeable when delivered on your mobile trading app. |
| Alerts and notifications | Desktop trading can lag on notifications, as your ability to get alerts is limited to whether or not you’re sitting at your desk. | Using 2-step authentication and biometric security, lost devices and mobile-specific malware are still a cause for concern. |
| Security | Using 2-step authentication and biometric security, lost devices and mobile-specific malware are still a cause for concern. | Desktops usually trump apps for security, but keylogging malware, phishing attacks, and ransomware issues persist. |
Are Forex Apps Free?
Yes, you can typically download a forex trading app for free, regardless of the brokerage.
While the app is free, there are potential costs you need to investigate before making it your default trading option.
- Higher spread costs (you might be subject to slight differences in the bid-ask spreads).
- Payment for Order Flow (PFOF) (free apps sometimes route your trade order to high-frequency trading concerns or market makers, who pay the app provider to execute your trade, while perhaps not giving you the best execution price).
- There’s always the potential for delayed data impact, where real-time data is supplemented with slightly delayed market data. When combined with sometimes limited research tools and a lack of dependable advanced features, this can result in a dip in profitability (as well as simply losing out on profitable trades).
- Cash sweeps (some apps will automatically sweep your uninvested cash into low-yield money market funds or bank accounts, thus earning the brokerage interest or dividends while giving you pennies for the privilege).
- Margin interest (the rates on free apps can be higher on margin accounts, thus significantly increasing the cost of leveraged trading).
- Trading gamification (apps can abuse push notifications or other alerts to encourage you to trade irresponsibly).
Conclusion
Although differences might seem slight, each app highlighted in this article offers unique features that cater to different trading styles and, often, experience levels.
Here’s a quick recap of the top features to consider when choosing a forex trading app:
- Ensure that the app performs capably on Android and ios platforms so your smooth trading experience remains uninterrupted.
- Most traders should opt for apps that offer tutorials, webinars, and market analysis (to help you improve your trading skills).
- Practice accounts (a demo account is an invaluable tool for any trader, and app trading should offer that functionality).
- User reviews (look for high ratings and positive feedback from other users to ensure reliability and performance).
- Customer Support (dependable support is even more essential for addressing issues with app trading).
Once again, these are our top 10 Forex Apps:
- BlackBull Markets – a well-balanced app offering for both Android and ios
- Vantage Markets – a flexible app offering a wide range of customisation options and trading instruments
- RoboForex – another well-rounded app offering that is both potent and yet welcoming
- Moneta Markets – intuitive design, with straightforward functionality across Android and ios
- FP Markets – FP Markets’ app offers more experienced traders competitive trading conditions
- Pepperstone – a very sleek app that is seen as technologically advanced
- IC Markets – similar to BlackBull above, this is a balanced app that caters for all comers
- XM – a user-friendly app that is often the best for beginners
- FBS – a well-rounded app for all traders of all levels, strong on educational features but with advanced features too
- VT Markets is favoured for its user-friendliness and competitive trading conditions.
Frequently Asked Questions on Forex Trading Apps
Are forex trading apps free to use?
Yes, you can download almost any reputable broker’s app for free. While the app might be free, other trading costs include spreads, commissions, and potential non-trading fees like withdrawal or inactivity fees. There can also be app-specific costs, and it’s best to ask the platform’s Support direct questions about possible app costs, like “Do you charge a slightly higher spread on the app?” or “Do you cash sweep via the app?”
Can I download an app and trade forex on an Android or ios device?
Most good forex trading apps are designed to be compatible with Android and ios devices, allowing you to trade from any smartphone or tablet. The app can be found on Google Play and the App Store. Cross-platform compatibility ensures you can trade on the go, regardless of your device preference.
What features do I need in a forex trading app?
Look for features like real-time market updates, advanced charting tools, and educational resources. Additionally, ensure the app offers a user-friendly interface and preferably robust security measures (like 2-step authentication). Most worthwhile apps also provide demo accounts, invaluable tools for beginners to practice trading without financial risk.
Is it safe to trade forex using a mobile app?
Yes, trading forex using a mobile app is safe if you choose a reputable broker offering a secure app. Look for apps with strong encryption and two-factor authentication to protect your account. It’s also wise to read user reviews and check the broker’s regulatory status to ensure they adhere to industry standards.
