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Best Forex Trading Mobile App

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Forex trading has risen to the forefront of the digital investment frontier. Forex might be right for you if you’ve got your finger on the pulse of world politics and global business.

Get started with our list of some of the best forex trading apps. You can trade right from your smartphone, and use few accessory apps that will help you make smarter money moves.

Best Forex Trading Apps:

Account Minimum
100 of your selected base currency
Pairs Offered
80+
Get started securely through FOREX.com’s website
Account Minimum
100 of your selected base currency
Pairs Offered
80+
1 Minute Review

FOREX.com is a one-stop-shop for forex traders. With a massive range of tradable currencies, low account minimums and an impressive trading platform, FOREX.com is an excellent choice for brokers searching for a home base for their currency trading. New traders and seasoned veterans alike will love FOREX.com’s extensive education and research center that provides free, informative forex trading courses at multiple skill levels. While FOREX.com is impressive, remember that it isn’t a standard broker. You can’t invest in the stock or bond market through your FOREX.com and you cannot open an account with tax advantages. The confusing pricing and margin structures may also be overwhelming for new forex traders.

Best For
  • MetaTrader 4 users
  • Beginner forex traders
  • Active forex traders
Pros
  • Impressive, easy-to-navigate platform
  • Wide range of education and research tools
  • Access to over 80 currencies to buy and sell
  • Leverage available up to 50:1
Cons
  • Cannot buy and sell other securities (like stocks and bonds)
  • Confusing margin requirements that vary by currency
  • Limited customer support options
  • Cannot open an IRA or other retirement account
Commissions
$10 value per pip
Account Minimum
$0
Get started securely through IG Group’s website
Commissions
$10 value per pip
Account Minimum
$0
1 Minute Review

IG is a comprehensive forex broker that offers full access to the currency market and support for over 80 currency pairs. The broker only offers forex trading to its U.S.-based customers, the brokerage does it spectacularly well. Novice traders will love IG’s intuitive mobile and desktop platforms, while advanced traders will revel in the platform’s selection of indicators and charting tools. Though IG could work on its customer service and fees, the broker is an asset to new forex traders and those who prefer a more streamlined interface.  

Best For
  • New forex traders who are still learning the ropes
  • Traders who prefer a simple, clean interface
  • Forex traders who trade primarily on a tablet
Pros
  • Easy-to-navigate platform is easy for beginners to master
  • Mobile and tablet platforms offer full functionality of the desktop version
  • Margin rates are easy to understand and affordable
  • Access to over 80 currency pairs
Cons
  • U.S. traders can currently only trade forex
  • Customer service options are lacking
  • No 2-factor authentication on mobile
Account Minimum
$50 USD
Pairs Offered
47
Get started securely through eToro’s website
Account Minimum
$50 USD
Pairs Offered
47
1 Minute Review

Though Australian and British traders might know eToro for its easy stock and mobile trading, the broker is now expanding into the United States with cryptocurrency trading. U.S. traders can begin buying and selling both major cryptocurrencies (like Bitcoin and Ethereum) as well as smaller names (like Tron Coin and Stellar Lumens).

eToro offers traders the opportunity to invest their assets into premade portfolios or cryptocurrencies, similar to services offered by robo-advisors through traditional brokers. Though eToro isn’t a one-stop-shop for everything an investor needs, its easy-to-use platform and low spreads is a great way to enter the cryptocurrency market.

Best For
  • International Forex/CFD Traders
  • New cryptocurrency traders looking for an easy-to-use platform
  • Traders who want to buy and sell cryptocurrencies on-the-go
Pros
  • Simple platform that is easy to master
  • CopyTrader feature that allows new traders to copy the same strategies used by professionals
  • Virtual dummy account that gives you $100,000 to practice trades
Cons
  • U.S. traders currently limited to cryptocurrencies
  • Only 15 major coins available to trade
Account Minimum
$100 USD (or equivalent)
Pairs Offered
69
Get started securely through HYCM’s website
Account Minimum
$100 USD (or equivalent)
Pairs Offered
69
1 Minute Review

HYCM is 1 of the world’s leading forex brokers, offering investors access to over 69 unique currency pairs. However, forex isn’t the only thing the broker offers — HYCM also offers high rates of leverage, stock and ETF trading, commodity investing and much more. Getting started with HYCM is quick and easy, and most investors can open an account in as little as 10 minutes.

HYCM offers a varying fee structure, which allows investors to choose the spread option that’s best for them. A wide range of educational and investing tools are available, which can be equally beneficial to both experienced and novice traders. Though HYCM isn’t currently available in the United States, it can be a great choice for residents of the other 140 countries where it offers service. 

Best For
  • Investors who want a customizable fee schedule
  • Traders comfortable using the MetaTrader platform
  • Islamic traders who need swap-free accounts that don’t build interest
Pros
  • Wide range of currency pairs available
  • Excellent selection of educational tools
  • $0 deposit and withdrawal fees
Cons
  • Not currently available to traders based in the U.S.
Account Minimum
100 EURO
Pairs Offered
50+
Get started securely through AvaTrade’s website
Account Minimum
100 EURO
Pairs Offered
50+
1 Minute Review

A fully regulated broker with a presence in Europe, South Africa, the Middle East, British Virgin Islands, Australia and Japan, Avatrade deals with mainly forex and CFDs on stocks, commodities, indexes, forex, cryptocurrencies, etc. This brokerage is headquartered in Dublin, Ireland and began offering its services in 2006. It offers multiple trading platforms and earns mainly through spreads.

Best For
  • Beginners
  • Advanced traders
  • Traders looking for a well-diversified portfolio
Pros
  • Controlled by regulatory agencies of multiple countries
  • Choice offered in terms of trading platforms
  • Support available in 14 languages and trading platforms in 20 languages
  • Practice/demo account available for trying out
  • Breadth of trading assets
Cons
  • Does not accept customers from the U.S. as it isn’t regulated in the U.S.
  • Transferring funds to the account may take up to five days; withdrawals could take up to 10 days

Characteristics of Great Forex Trading Apps

Though each forex trading platform and app aims to fill its own niche segment of the market, the most reliable and trustworthy trading apps all share the following three characteristics:

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.

This often creates a problem on mobile platforms, which have less processing power than desktop computers and can lag or crash in the middle of a trade.

Test out your forex trading app of choice with a few small test trades before you make a commitment to the platform to ensure that it is able to provide the trade and streaming speed that you need to complete your currency trades.

Trading education resources

In a market that’s constantly changing, knowledge is power. The best forex trading apps offer information on both the technical side of trading as well as the latest international news and editorials.

This helps traders learn more about how to predict which currencies will rise and fall in value.

Minimal spreads

In forex trading, the “spread” is the difference between the bid and the ask price of a currency and basically functions as your forex broker’s commission for carrying out your trade.

Though most spreads are only a fraction of a single unit of the currency you’re trading, high-frequency traders may soon see a large percentage of their profits eaten away by fees and commissions.

Don’t be afraid to shop around for forex brokers until you find one that offers fair fees—this will help you minimize loss while trading.

The Best Forex Trading Apps

We chose the forex trading apps with minimal spreads, great resources, and fast trading times. Here’s who made the cut.

Account Minimum
100 of your selected base currency
Pairs Offered
80+
Minimum Trade Size
$1,000
Spread
0.2 pips – 1.0 pips
Commisions
$0 – Variable starting at $60 per million traded depending on account
Best For
  • MetaTrader 4 users
  • Beginner forex traders
  • Active forex traders

1. Best for Begginers: FOREX.com

Not only is FOREX.com 1 of our favorite forex brokers, it has some of the lowest spreads on the market and an amazing mobile app available on iOS or Android.

The mobile app allows for full functionality. You get the same advanced charting options, news and fund management as the desktop version.

You can create customized dashboards watchlists, and watch your positions on an easy-to-navigate app.    

Read Benzinga’s full FOREX.com Review

Commissions
$0 $6.95 for OTC Stocks
Account Minimum
$0
Best For
  • Novice investors
  • Retirement savers
  • Day traders

2. TD Ameritrade’s thinkorswim

The thinkorswim app is TD Ameritrade’s mobile platform.

It’s interface is intuitive. If you already have a brokerage account open with TD Ameritrade, you can also trade options, stocks and futures on the thinkorswim app.

The platform also offers news alerts and direct CNBC mobile streaming for market news. Traders who initiate a large number of their currency exchanges on-the-go will love the platform’s alert system, which sends push notifications with set trading alerts.

Offering an easy-to-use mobile app that houses everything a trader could want on a single platform, very few brokerage firms come close to TD Ameritrade’s intuitive thinkorswim app.    

Read Benzinga’s full TD Ameritrade Review

Commissions
0.75% – 2.90%
Account Minimum
$0

3. eToro

eToro’s online platform already offers many of the world’s most popular digital currencies including Bitcoin, Ethereum, XRP and more. You’ll also enjoy additional benefits, such as real-time execution of market orders and unlimited daily withdrawals.

View real-time data, access in-depth analysis tools, and be the first to catch the trends wherever you are. You can also try out eToro’s many innovative features completely risk-free with a $100,000 virtual portfolio.

You can also get customized notifications for Bitcoin and other cryptos on your watchlist, and access real-time, relevant market data any time.

Commissions
$1 per contract side
Account Minimum
$250

4. Nadex

NadexGO™ offers the same user experience as its desktop version, just on a smaller scale.

You have a full range of products with account management tools, real-time direct market access, and full charting and technical analysis features. You’ll have to toggle between the chart and order entry ticket, which may take some getting used to.

Nadex specializes in binary options and spreads trading. The fee structure is $1 per contract with a $50 maximum cap.

And you can exit a trade by placing a 2nd, opposite trade or by letting the contract expire.

       

Find the Right App Today

The forex trading market is no longer limited to government institutions and international banks. Thanks to a process called “trading on the margin,” there is no longer a $100,000 minimum barrier to begin exchanging currencies.

Mobile forex trading is still developing. Learn more about forex with Benzinga’s list of the best forex trading brokerage firms for desktop trading.

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