The broker also offers a number of additional platforms and trading tools that add value to its overall trading experience. The best forex trading apps offer information on both the technical side of trading as well as the latest international news and editorials. All forex trading platforms and apps aim to fulfill their own niches within the market, but the most reliable and trustworthy trading apps all share the following characteristics.
For these reasons, we’re confident in naming eToro as our top social trading broker. 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. NinjaTrader provides software and brokerage services targeted at active traders.
AvaTrade’s flagship mobile app is called AvaTradeGo and was voted the Best Forex Trading App in 2020 at the Global Forex Awards. AvaTrade’s fees are some of the lowest for an account with a 100 USD minimum deposit – as low as 0.9 pips on the EUR/USD. Spreads are also very competitive, meaning that you can keep your forex trading costs to a minimum. With that said, you will need to pay a small currency conversion fee of up to 0.5%.
MetaTrader 4 Trading Software
It is useful to stay abreast of news that is relevant to the forex market, whether you are at your desk or on the move. By keeping a watchful eye on live data feeds and key market announcements, particularly if you have an open trade in progress, you can make informed decisions. Pepperstone offers ultra-low spreads from 0.0 pips on the Razor account and has an excellent selection of 60+ pairs. The broker boasts an impressive 99.94% fill rate with no requotes or dealing desk intervention.
Trade Interceptor’s interface offers analysis and technical trading tools, including nearly 100 technical chart indicators. It also provides access to live, streaming price quotes and price charts, including the latest Bitcoin prices. NinjaTrader offers a trading environment that you can use to build, test, and simulate a trading system for equities, forex, and futures before investing real money in a live market. NinjaTrader itself is free to use for advanced charting, backtesting, and trade simulation, but there are fees for some indicators built by third-party developers. Thinkorswim allows traders to create their own analysis tools as well as use a built-in programming language called thinkScript. The desktop version of thinkorswim is the most powerful, but you can also use a web version or the mobile app.
If you’re based in Asia, you will likely fall within the remit of MAS (Singapore). All of the forex apps listed on this page are licensed by at least one regulator. As such, your funds will be held in segregated bank accounts, and you will need to provide ID before a withdrawal is permitted. When it comes to the trading platform itself, you can choose from MetaTrader 4 and 5, or the AvaTrade Go software.
We selected the best forex trading apps that come with minimal spreads, great tools, and fast trading speeds. Brokerages usually offer their clients either free or discounted online trading platforms if they keep funds in their accounts. Clients can manage their accounts via the trading software from anywhere and can access it via desktop, mobile, and web-based platforms. Bloomberg offers a number of mobile applications for iPhone and Android, but access to some of these requires that users have current subscriptions to Bloomberg services. However, even its basic business mobile app is more than sufficient for traders whose primary interest is real-time access to the latest market news. After all, it helps to be as informed as possible when venturing in this new and rather tricky field.
We took to BlackBull Markets for our TradingView software experience, and good reason. During our tests, this New Zealand-based broker consistently delivered some of the quickest spreads in the game. They also offer one of the best FX demo accounts we’ve had the pleasure to use, making it an ideal option for traders who want to hone their skills before diving in.
So it’s very important to understand what you’re getting into, and how to minimize any (inevitable) losses you will incur. Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets. If you want to keep your trading costs down, or you are looking for a lower-cost forex account options, check out my guide to the best zero spread forex brokers.
With this app, users are able to learn from their mistakes and make good decisions, providing a great platform to get the stock market experience they need. Beginners can start trading with FXTM’s demo account that also comes with tutorials to help them with each step, as well as webinars and even a dedicated account manager. Trading is fast with hi-tech tools and made ultimately secure, and investing is made easier and beginner-friendly. FXTM offers users a large number of strategies as guides, profit, and even full control of their investment. Every day, companies and investors make billions by purchasing and trading currencies. However, it does take a significant amount of experience and skills to make forex trading work, and a lot of people do lose money through carelessness, lack of planning, or just plain bad luck.
- Expert Advisors (EAs) are also supported for automated trading strategies.
- We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables.
- He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years.
- First, the software must be reliable and housed in a solid trading platform for peak performance.
- However, some of the most popular tools based on downloads in the Google App Store are Trading212 (10+ million), Plus500 (10+ million) and Markets.com (1+ million).
Alternatively, traders that have access to up-to-the-minute news reports and economic data may prefer fundamental analysis. In either case, it does not hurt to conduct a weekend analysis when the markets are not in a constant state of fluctuation. https://www.xcritical.in/ In addition, the app offers live, streaming charts and the latest market news from FxWirePro and Market News International. It also allows traders to set price or trendline alerts on specific currency pairs, stocks, or commodities.
There are several dozen scanners built-in, or you can design your own. Real-time market data and 20+ years of historical data are included at no extra charge. Trade Ideas is downloadable to Windows platforms and also offers a web version for access on any device. A standard subscription is $84 per month ($999 per year), while the premium services are $167 monthly ($1,999 per year). Many of the features, including a very powerful technical charting package, are free to use, and rival the capabilities of much more expensive sites. A key feature of SlopeCharts is SlopeRules, which lets you create and test a trading system using technical rules.
Most demo forex apps operate in the same way as a ‘real money’ platform. Users can then make investments, opening and closing trades while utilizing any trading system or style. If trades show a profit, the virtual balance will grow, but losses will reduce the balance – just like a real account. Pepperstone is a fast and reliable CFD broker with 1200+ assets covering forex, commodities, shares, indices, and ETFs. You can also trade currency indices, which aren’t available at many alternatives. CFDs can be traded on four leading platforms with a choice of accounts and base currencies.
For example, the Standard Account allows you to trade forex via the mobile app on a commission-free basis. Although you’ll pay this at both ends of the trade, mobile apps forex brokers you will benefit from tighter spreads. In fact, the platform gives you access to an abundance of trading pairs across the majors, minors, and exotics.