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Best Forex Trading Mobile App

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As the global economy becomes more dependent upon international trade, the rise of forex trading has risen to the forefront of the digital investment frontier.

If you’ve got your finger on the pulse of world politics and business, forex trading may be right for you. Too busy to sit down at a desktop and trade? We’ve compiled a list of some of the best forex trading apps that will allow you to trade right from your smartphone, along with a few accessory apps that will help you make smarter money moves.

Best Forex Trading Apps:

Commissions
Spreads start as low as $1 But vary based on trading volume
Account Min
$250
Get started securely through FOREX.com’s website
Commissions
Spreads start as low as $1 But vary based on trading volume
Account Min
$250
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
  • Forex traders located in the United States
  • 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 Min
$0
Get started securely through IG Group’s website
Commissions
$10 value per pip
Account Min
$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
Commissions
$5 per 100,000 base currency traded
Account Min
$0
Get started securely through Oanda’s website
Commissions
$5 per 100,000 base currency traded
Account Min
$0
1 Minute Review

OANDA offers commercial and standard access to the forex market, with over 70 currency pairs to trade. OANDA’s platform is comprehensive, offering a wide range of indicators and charting tools for experts as well as a simple and intuitive layout that’s perfect for beginners. 

You won’t find retirement savings or stock trading on OANDA — the platform doesn’t offer any type of trading beyond the forex market. However, the broker does forex trading especially well — though it could stand to offer more in the way of customer service and lower fees.

Best For
  • New forex traders looking for an easy-to-use platform
  • Mobile traders who need a comprehensive on-the-go offering
  • Experienced forex traders who seek a wide selection of charting tools, indicators and currency pairs
Pros
  • Over 70 unique currency pairs to trade
  • Comprehensive and easy-to-understand platform
  • Mobile platform improves upon the desktop version
Cons
  • Only forex trading available
  • No retirement accounts available
TD Ameritrade
Commissions
$0 $6.95 for OTC Stocks
Account Min
$0
Get started securely through TD Ameritrade’s website
Commissions
$0 $6.95 for OTC Stocks
Account Min
$0
1 Minute Review

This publicly listed discount broker, which is in existence for over four decades, is service-intensive, offering intuitive and powerful investment tools. Especially, with equity investing, a flat fee is charged, with the firm claiming that it charges no trade minimum, no data fees, and no platform fees. Though it is pricier than many other discount brokers, what tilts the scales in its favor is its well-rounded service offerings and the quality and value it offers its clients.

Best For
  • Novice investors
  • Retirement savers
  • Day traders
Pros
  • World-class trading platforms
  • Detailed research reports and Education Center
  • Assets ranging from stocks and ETFs to derivatives like futures and options
Cons
  • Thinkorswim can be overwhelming to inexperienced traders
  • Derivatives trading more costly than some competitors
  • Expensive margin rates
Interactive Brokers
Commissions
$0.005 per share minimum $1 and maximum 0.5% of trade value; volume discount available
Account Min
$0
Get started securely through Interactive Brokers’s website
Commissions
$0.005 per share minimum $1 and maximum 0.5% of trade value; volume discount available
Account Min
$0
1 Minute Review

Interactive Brokers is a comprehensive trading platform that gives you access to a massive range of securities at affordable prices. You can buy assets from all around the world from the comfort of your home or office with access to over 135 global markets. Options, futures, forex and fund trading are also available, and most traders won’t pay a commission on any purchase or sale.  

IBKR is geared primarily toward experienced traders and investors but now with the availability of free trades with IBKR Lite, casual traders can also acclimate to IBKR’s offerings.

Best For
  • Access to foreign markets
  • Detailed mobile app that makes trading simple
  • Wide range of available account types and tradable assets
Pros
  • Comprehensive, quick desktop platform
  • Mobile app mirrors full capabilities of desktop version
  • Access to massive range of tradable assets
  • Low margin rates
  • Easy-to-use and enhanced screening options are better than ever
Cons
  • Beginner investors might prefer a broker that offers a bit more hand-holding and educational resources

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.

1. FOREX.com

Commissions
Spreads start as low as $1 But vary based on trading volume
Account Minimum
$250
Best For
  • Forex traders located in the United States
  • MetaTrader 4 users
  • Beginner forex traders
  • Active forex traders

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

The mobile app allows for full functionality: you’ll get the same advanced charting options, news, and fund management that you would on 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

2. TD Ameritrade’s thinkorswim Mobile

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

One of the most useful and most popular forex trading apps is TD Ameritrade’s mobile platform, thinkorswim Mobile.

Thinkorswim’s interface is intuitive, and you should have no trouble operating the platform and trading currencies even if they aren’t using a tablet. If you already have a brokerage account open with TD Ameritrade, you can also trade options, stocks, and futures as well via 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

3. ForexTime

ForexTime's mobile app. Source: iTunes
ForexTime’s mobile app. Source: iTunes

ForexTime was founded in 2011 as a mobile trading suite that has since expanded into a number of other tools and apps.

The company has already made waves in the forex trading community.

It is named the “Best Newcomer of 2013” by the World Finance Awards and the “2017’s Best Forex Broker” by the Global Investor Mena Awards.

ForexTime is a mobile-only brokerage firm, so if you’re looking for an all-in-one solution, you may be better off with FOREX.om or TD Ameritrade‘s platform.

Which is complemented by a desktop and online platform as well.

The app supports forex trading and is available for consumers around the globe, unlike many competitors, who limit their offerings to U.S citizens.

With fast execution and a low minimum deposit of just $5, ForexTime offers a responsive currency exchange app for both iPhone and Android users.      

4. Netdania

NetDania's mobile app. Source: Google Play
NetDania’s mobile app. Source: Google Play

Netdania has referred to itself as the “World’s #1 Forex & CFD Trading App,” and the brokerage’s offerings are impressive enough to earn its title. It’s consistently been rated by consumers as one of the Apple store’s top-rated finance apps.

Thanks to the platform’s ease of use and real-time forex updates. The brokerage offers 20,000 trading tools and indicators, and traders can use these technical analysis tools to enhance their in-app trading of over 2,200 currency pairs.

Netdania isn’t just great for forex trades.

The app also offers thousands of stocks and indexes, all of which can be bought and sold with ease over the app.

The app is available in 16 languages, and you can easily synchronize profile and push notification settings across multiple platforms.            

Final Thoughts

The forex trading market is no longer limited solely 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.

Because the forex market is relatively new for the everyday consumer, mobile forex trading is still in its early stages of development. If you’re looking for more options when it comes to choosing a forex platform, hop online and check out Benzinga’s list of the best forex trading brokerage firms for desktop trading.

Having trouble gaining the leverage you need to start trading currencies and seeing significant profits?  The best place to begin is by raising your credit score. Take a look at our beginner’s guide to boosting your credit score.

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