5 best Forex broker apps in comparison for traders

See the list of the 5 best Forex broker apps:

Broker:	Review:	BEST FOR:	Regulation:	Assets:	Advantages:	Open account:
1. RoboForex	(5 / 5) ➜ Read the review	Mobile trading	IFSC	9000+ (36+ currency pairs)	+ Many awards + Huge diversity + Many account types + 1:2000 Leverage + Bonus program + Low spreads + Low commissions + 9,000+ assets	Live account from $10 Open your free trading account (Risk warning: Your capital can be at risk)
2. Capital.com	(5 / 5) ➜ Read the review	Beginners	FCA, CySEC, ASIC, SCB	3,000+ (70+ currency pairs CFDs)	+ Competitive spreads + No commissions + High security + Multi-Regulated + 3,000+ markets + Personal support + Education center	Live account from $20 by card Open your free trading account (Risk warning: 78.1% of retail CFD accounts lose money)
3. Plus500	(5 / 5) ➜ Read the review	Safety	FCA, CySEC, ASIC, MAS, FSA	2,000+ (71+ currency pairs)	+ Competitive spreads + 24/7 support + Many markets + No hidden fees + PayPal-compatible	Live account from $100 Open your free trading account Risk warning: 82% of retail CFD accounts lose money.
4. Etoro	(5 / 5) ➜ Read the review	Copy Trading	CySEC, FCA, ASIC	3,000+ (47+ currency pairs)	+ Regulated and safe + Social trading + Innovative platform + Userfriendly + Many assets	Live account from $ 50 Open your free trading account 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. **Please note that instruments restrictions may apply according to region
5. Vantage Markets	(5 / 5) ➜ Read the review	ECN trading	CIMA, ASIC	300+ (40+ currency pairs)	+ Fast execution + MT4 & MT5 + Low trading fees + No hidden costs + Free bonus + Multi-regulated	Live account from $200 Open your free trading account 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

See the list of the 5 best Forex broker apps:

Every forex trader loves being able to access their accounts wherever they are. Mobile forex trading apps have made that possible. Nowadays, people are able to trade on their mobile phones due to their availability, though not all trading apps can offer a comfortable trading experience. You only enjoy a few basic trading features with most of them. But some provide a wonderful trading experience with low fees, a variety of assets, and easy funding and withdrawal methods.

Below, we present to you our top five best Forex trading apps:

1. RoboForex – The best for mobile trading and high leverage

2. Capital.com – The best forex trading without commissions 

3. Plus500 – The best for safety

4. eToro – The best for copy trading 

5. Vantage Markets – The best for ECN trading

List of the 5 best forex broker apps:

1. RoboForex 

RoboForex broker is a company that provides online Forex trading services. The company was founded in 2010. RoboForex broker is regulated by the Financial Conduct Authority (FCA) in the United Kingdom.

The company offers a wide range of services, including Forex trading, CFDs, and cryptocurrency trading. RoboForex broker also offers several innovative products, such as CopyFX and PAMM accounts.

RoboForex brokers have over 700,000 traders from 180 countries worldwide. RoboForex provides online trading services on the Forex market and offers innovative products to our traders: low-spread ECN accounts, PAMM/P2P accounts, cents accounts, and deals with no requotes.

Advantage of RoboForex 

• Traders in different languages can access the RoboForex trading platform.
• Traders’ orders are executed swiftly.
• The RoboForex trading platform is suitable for different types of traders to use.

Disadvantages of RoboForex 

• The prices on the web and mobile trading platforms are different.
• Traders on the RoboForex trading platform only have access to trade a limited number of currency pairs.

(Risk Warning: Your capital can be at risk)

2. Capital.com

Capital.com provides the best trading app for traders who want to learn forex because of its rich educational content and user-friendly interface. New users who wish to get acquainted with the forex trading environment can enjoy a free unlimited demo account with this broker. Experienced traders can practice trading strategies and test all their features for as long as they wish without risking their money.

The broker makes it comfortable to begin live trading with a minimum deposit of $20 for deposits via credit card. Plus, you get access to trade various assets and instruments with up to 70 forex pairs via CFDs. Cryptocurrency CFDs, indices CFDs , and commodities CFDs are also offered. 

Enjoy competitive spreads with this broker, especially during active market hours. The spreads can go as low as 0.1 pips for major currency pairs. Commissions are not charged, and there are no hidden fees. Transfers and withdrawals are free and a straightforward process. The broker offers many famous methods through which traders can fund their accounts, allowing you to trade and withdraw your profits with ease.

This forex trading app operates under two tier-1 licenses: the Financial Conduct Authority FCA and the Cyprus Securities and Exchange Commission CySEC. It is also regulated by the ASIC and SCB.

Pros:

I. Trade a wide variety of forex pairs and cryptocurrency via CFDs. 

II. Competitive fees and spreads 

III. The broker won multiple awards for its in-house trading platforms and the Mt4.

IV. Exceptional education content for traders is embedded in Investmate, its proprietary app.

Cons:

I. The broker offers low leverage to clients around the United Kingdom and European jurisdictions.

II. Clients outside the EU and the UK may not be able to use all the deposit methods.

(Risk warning: 78.1% of retail CFD accounts lose money)

3. Plus500

Plus500 brokerage is an Israeli-based company and a member of the London stock exchange. The trading app is beautifully designed and favored by experienced traders for its standard user interface and wide selection of CFDs, including currency pairs, options, commodities, indices, and stocks. No wonder the Plus500 trading app has the highest rating on both Google Play Store and the Apple IOS store. Traders enjoy a complete trading experience on this forex trading app. All the trading features are accessible, and the functions are fast to navigate. The broker also offers a free unlimited demo so traders can test and fully understand the platform before they commit to trading.

As for safety, the broker has several licenses from reputable bodies, such as the Israeli Securities Authority, the Financial Conduct Authority FCA, the Cyprus Securities and Exchange Commission CySEC, Australia Securities and Investments Commission ASIC, and the Financial Sector Conduct Authority FSCA. Traders’ funds are safe, as guaranteed stop loss and negative balance protection are offered. 

There is no charge on withdrawals and transfers, no commission fees on trading, and spreads are relatively low. The registration process and deposits are straightforward and take only a few minutes.

Pros:

1. The brokerage is listed in the public stock exchange market and is well regulated. 

2. The broker trading app is friendly to use.

3. The fees are relatively low.

Cons:

1. Plus500 offers mainly CFDs, which may not be ideal for beginners.

Risk warning: 82% of retail CFD accounts lose money.

4. eToro

**Please note that instruments restrictions may apply according to region

Etoro offers the best copy trading service from what we found. Copy-trading service allows you to choose an experienced and successful trader on their platform and copy all their moves while trading. The broker provides you with all the data you need and plenty of successful forex traders to choose from. You would see information such as the trader’s risk management style and their profit to date. The information would help you choose the appropriate trader to copy according to your trading goals.

Gain access to various instruments with this broker, including stocks, ETFs, indices, and, as you would expect, forex. The currency pairs are a wide selection of major, minor, and exotic pairs. Each pair is displayed in its own category, making it easy to find on the app.

The broker’s spreads are tight, and fees are competitive. You would be able to trade on leverage of 1:30 for major forex pairs and 1:20 for minor and exotic crosses. Using leverage can increase the risk when trading.  

The Etoro trading app is straightforward to navigate, and the trader can enjoy a complete trading experience. 

Payments on the Etoro trading app are also hassle-free. You can transfer funds to trade using popular methods, such as Mastercard, Visa, Maestro, Paypal, Neteller, and wire transfers.

The trading app is operative under the following licenses:

• Financial Conduct Authority FCA 
• Cyprus Securities and Exchange Comm CySEC 
• Australia Securities and Investments Comm ASIC.

These bodies are all tier-1 regulators, and they indicate a brokerage firm that provides the highest standards of service to clients.

Pros:

1. Easy account opening due to minimum of $ 50 deposit.

2. Copy trading allows you to imitate successful traders and increase your skills in the process.

3. Trade a wide range of assets, including stocks and ETFs. 

Cons:

1. Trading fees for CFDs are comparably high

76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

5. Vantage Markets

Vantage Markets trading app is one of the best in the market. The app is both beginner-friendly and great for experienced traders too. Established in 2009 in Australia, the brokerage firm now has clients globally and is regulated by tier-1 regulators in Australia and the United Kingdom. Vantage Markets also has a license in Cayman Island. Therefore, the broker is safe and offers quality trading services. 

Though its minimum deposit is comparably high, spreads are tight here, and commissions are not charged for trades except for ECN accounts. Traders have access to a rich institutional-level liquidity pool with the tightest spreads through the app. Though a flat commission fee of $3 is charged for this type of account. Forex traders can also enjoy a diverse selection of market instruments with over a hundred forex pairs and stock CFDs. Indices and commodities can also be traded on the app, and scalping and hedging are allowed, indicating strong credibility on the broker’s part.

Pros:

I. The broker holds multiple licenses and is well-regulated. 

II. Traders’funds are insured when they trade specified excess on CFDs.

III. The meta trader comes with a special additional feature known as the Smart Trader that improves the user’s experience.

IV. Active or high-volume traders can benefit from the rebates offered.

Cons:

I. The Pro ECN account is not suitable for low-budget traders. The minimum deposit accepted for this account is $20,000.

(Risk warning: Your capital can be at risk)

Types of forex trading apps

Forex trading involves the exchange of currencies, and trading apps have made it very easy to trade currency pairs all over the world. The ease is beneficial for all, as the foreign exchange market plays a crucial role in daily global business. Large corporations and financial institutions exchange currency pairs for completing international transactions. Forex trading has also proven to be a profitable business venture for individuals. People make hundreds and thousands of dollars trading the market every day. However, skills and experience are essential to making reasonable profit trading forex.

Apart from making trading easy, forex trading apps are also designed to decrease the technicalities that may confuse newcomers. Below, we will examine some of these trading apps.

1. MetaTrader

This is one of the most popular trading apps. A lot of brokers build their trading platforms on this app. It is easy to use and compatible with android, IOS, and computers. Apart from forex, it 

can also be used to trade other instruments, such as stocks, cryptocurrencies, commodities, indices, and futures.

The app comes with important tools that offer essential market analysis, price history, and real-time price quotes for currency pairs to users. Tools like Elliot and Fibonacci, plus current financial news, are provided on this app. It is a user-friendly trading app, making it one of the most preferred forex trading apps.

MetaTrader also comes with trading signals and indicators that provide traders with helpful information after analyzing the market. And traders can access their accounts anywhere on this trading app. 

2. ThinkTrader

This forex trading app is also free for android and IOS, though it’s not as popular as MetaTrader. It offers advanced trading tools with over 160 indicators, informing users of the best forex pairs and instruments to trade. The ThinkTrader was only available for computers, but now traders can use it on their mobile phones.

It comes with a special feature that lets you split the screen into 2 or 4 so that you can view up to 4 markets at once.

You can see a live stream of all major forex pairs’ price quotes on the trading app. Cryptocurrencies, metals, and indices prices are also displayed in the quotes section. Users can also see global economic news on the app and can access tools such as an economic calendar, risk scanner, and news alert service.

Users can close multiple positions at once and have one account opened on more than one device. This makes it easy to have your accounts active on your computer, smartphone, and tablet all at once. It also comes with technical analysis tools that make forex trading easier to do.

3. Stock Trainer

This trading app is for learning and gaining trading experience, and it’s only available for android users. New investors can download it for free and use it to learn forex or stock trading.

The trading app is like a demo that simulates a real trading environment, providing real-time market information and virtual cash for users to trade with. Users can experience an actual trading environment without any financial risk, and this demo supports limit and stop-loss orders, unlike most broker app demo accounts.

The app is useful for beginners to get familiar with forex trading before going into it. Experienced traders can also use it to test new trading strategies without risks.

The app is still being developed and is only available on Google Play Store for now. New features are added regularly, which requires an update. A paid version without any ads is also available for download.

Features of a good Forex trading app:

Forex trading apps are created to make trading easier. Therefore, here are the points to confirm when seeking a good app for your forex trading:

1. Real-time news updates

The news and world events are crucial factors affecting currency pairs. Exchange rates can easily change based on the news. Failing to make a quick decision can lead to a loss of profit or capital, or both. So a good app should provide up-to-date information on world events on its portal so that traders can see this during their activity. 

2. Rich educational resources 

Both new and experienced traders need educational contents to trade the market successfully. Most good trading apps include rich content, such as webinars, training videos, etc., to help users learn and improve their trading skills.

3. High-tech trading tools.

As we have mentioned, forex trading is supposed to be easier with trading apps. Trading tools such as indicators and signals make it so. Inbuilt robots provide information on past prices and historical market activities. Fibonacci, Elliot, Ganns, and live news are all examples of necessary tools that a good trading app should offer.

4. Reasonable spreads.

The forex trading app should offer competitive spreads so that the cost of trading is not unreasonable for the trader. When spreads are too high, the profit will be minimal with successful trades.

How to use Forex broker apps:

Trading forex on a broker app is now preferred over desktop trading because of its ease and convenience. Although successful forex trading still requires building skills and experience. 

If you are new to the market, you probably want something convenient and easily accessible on the go. Therefore, the forex trading app is the way to go.

After choosing your broker and completing the registration, follow these steps to use the forex app:

Step #1: Test the demo 

Many brokers offer a demo account on their trading apps. This will help you experience the app before you begin. New traders can experience the forex market through the demo trading app, though there are other apps for that. If you choose a broker app as a new trader, we recommend you test their trading app because there might be a slight difference from what you are familiar with.

A broker’s trading app may look different from another broker’s. There might be added features that you need to get familiar with before you trade live. Experienced traders, too, can test their trading strategies on a broker’s demo to be sure that the platform is suitable for their trading style.

2. Deposit funds into your account

After testing the app and you are satisfied with its features, it is time to deposit money to trade. Most broker trading app makes it easy to do this by providing plenty of deposit options. Be sure to look out for this point when searching for a good trading app. Popular funding methods, such as credit and debit cards or online and wire transfers, should be available as transfer options for funding. 

Most trading apps would have a FUNDS MANAGER tab on the dashboard. Clicking on the tab should show you options that include depositing funds into your trading account. Once you click on it, all the deposit methods will be displayed so that you may select your desired option.

The transfer should be credited to your account and boldly displayed on the trading app balance within minutes or at least within the hour. Then you are ready to trade.

3. Select currency pair.

Click on the quotes tab to show you all the currency pairs and their respective quotes.  Each pair would have a BUY/ASK price and a SELL/BID price. The price differential between the two is the SPREAD. While testing the demo, ensure you check on this to see if the spreads are competitive. High spreads mean trading on that app would cost you more. It is better to compare prices before you choose a trading app.

4. Withdraw your earnings

After trading successfully, you would have made some profits. You can withdraw your profits for your use by clicking on the FUNDS MANAGER tab and selecting the withdrawal options. Once you enter the withdrawal amount and click on CONFIRM, your broker processes the request and credits your specified account with the funds.

We should mention that processing time for withdrawals usually depends on the broker. But the time can range from 15 minutes to 48 hours. Also, ensure that your registration and verification with that broker are complete. Otherwise, your funds might be delayed or withheld. We also recommend you use the same method for all your fund transfers with the trading app. For instance, if you made your initial deposit through your credit card, withdraw your funds from the app into the same card. This prevents any complications from arising with your transfers to and from your account.

Forex broker trading app is a welcome development in the industry. Forex retail traders can now trade on the go, and more people are finding it easy to participate in the forex market.

Anyone with a smartphone now has the potential to join the forex bandwagon and increase their wealth. Trading apps are available for free, and many forex education apps allow people to learn the trade and participate in the market. 

But new users should look out for basic, vital features in the trading app before putting in their funds. We have listed some important checklists in this guide and have explained how to use a forex trading app. Remember that the trading app you choose can immensely determine your success or failure in forex trading.

FAQ – The most asked questions about Forex broker apps : 

Last Updated on January 4, 2024 by Andre Witzel