Best Forex Trading App 2024: Top 5 Picks & Reviews
Reviewed by Kristina Knight, Journalist , BA
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If you want to trade forex and make money by speculating on the forex market, you need to discover the best mobile forex trading apps so you can sell and buy from anywhere. So no matter if you’re new to online trading or a seasoned expert, let’s walk you through the best forex trading apps so you can discover the one that is best for you.
Read More: Best Forex Broker In USA 2024
Top 5 Best Forex Trading App 2024
- eToro: Best Overall
- TD Ameritrade: Most Affordable
- MetaTrader: Most Comprehensive
- RoboForex: Best Educational Materials
- FOREX.com: Easiest to Use
Top 5 Best Forex Trading App April 2024
eToro
eToro is a great option for those who are new to the forex market to get involved. Many like it because of the social investing feature that allows you to duplicate the trades of top investors on the platform. Overall, it is a forex broker that is easy to use and widely trusted.
- Social investing to duplicate trades of winning investors
- Commonly used in the industry
- Simple and easy-to-use interface
- Research tools could be better
- Not as many currency pairs as others
eToro is a comprehensive yet simple-to-use app that has over 3,000 different assets that you can trade. These include CFDs, currency pairs, and ETFs. Many like the educational side of their platform for beginners, though some of their research tools aren’t as advanced as what you can find with other trading platforms. However, it’s still one of the more affordable options on the market and continues to be widely used across the industry.
TD Ameritrade
TD Ameritrade’s forex trading app offers 70 currency pairs and a number of helpful tools, research, and educational materials. This is a great fit for traders in the US, who can enjoy a seamless trading experience that’s superior to the trading accounts with most forex brokers today.
- Very easy to trade forex on TD Ameritrade’s app
- Great research available to forex traders on the mobile app
- Easy to access educational materials from a mobile app
- No copy trading available unlike other forex brokers
- Some of the pricing is on the higher end compared to others
TD Ameritrade is a well-utilized forex trading app, popular among many consumers and highly trusted among both newcomers and advanced traders. If you’re looking for one of the top forex trading apps to help with technical analysis, real market data, and other trading tools to assist with real-time trading, this is among the best forex apps. Their mobile app can help you make informed trading decisions–especially from a mobile device.
MetaTrader
Meta Trader is an advanced platform for trading forex. Their specialty is helping advanced investors make complex and automated trades. Plus, investors not only can access the forex market but also a number of others from this currency trading app.
- Can begin trading with automated trades
- You can get a free demo account for simulated trading
- Long-standing reputation as a forex app
- There is no direct customer support
- Not a good fit for high-frequency trading
- Not the best fit for beginners
MetaTrader helps investors stay active in the forex markets and supports more complex trades than most forex trading platforms. For investors who want to automate their foreign exchange trading, this popular forex trading platform is a good option.
Another draw of the platform is its technical indicators and the fact that it gives investors access to many other markets, unlike other forex platforms. There have been multiple versions of this app since it started in 2005, though it’s been widely trusted as a forex broker for nearly two decades now.
RoboForex
Many like the value provided by RoboForex as a broker. They have a number of different account types to choose from and have stable trading conditions that help investors make the most out of market opportunities.
- Access to over a hundred different securities
- Simple to deposit and withdraw funds
- News monitoring similar to the desktop version
- Fees on fund withdrawals
- A small number of currency pairs are available
RoboForex is a good option for traders at all levels, especially for beginners given the great educational materials on the platform. It’s a trusted broker among traders with a great reputation, and the app gives users access to over a hundred different securities. All in all, the mobile app is extremely easy to use to trade forex pairs, access educational materials, market news, and more.
FOREX.com
FOREX.com is a highly utilized platform for traders. Especially if you want to find the best forex broker that you can access from a cell phone, this is a great choice, as the platform gives you access to many different markets from all around the globe.
- A number of different high-quality trading platforms
- Great market research and trading signals are available
- Access to start trading in many different markets
- Only provides access to ~600 different instruments
- MT5 only available outside the US
- They don’t produce video content like the other best forex trading apps
Trading CFDs is easy from FOREX.com. Any successful forex trader likes to be able to access many different markets, all from one location, which is possible when using FOREX.com. The prices can be on the higher end, though active traders may notice better pricing when they’re trading in large volumes.
In any case, both experienced traders and beginners will enjoy FOREX.com for trading forex, especially if they’re looking for a mobile trading platform.
What Is Forex Trading App?
Mobile apps for forex trading are a good place for investors to access the global financial markets to see market news, access financial instruments, market price data, and more to make forex pairs trades. Most forex traders will agree that timing is everything when you trade currency pairs, so having a trading account on your mobile phone is highly useful.
Final Thoughts
Choosing the right app for a forex trading platform is very important. Look for one that will display trading history, the ability to backtest trading strategies, drawing tools, and more. Forex trading can be risky, so you need an app that will allow you to make trades from anywhere, access valuable research tools, and help you make smart investment decisions.
Frequently Asked Questions (FAQs)
If a trading app has an alert system, you can set alerts for certain market conditions or price levels that can help you time your trades adequately.
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