FXTM is also known for offering a wide range of trading instruments users can use to learn how to trade, start trading, and investing. Their trading conditions are unparalleled, making them one of the best in the scene. Since FXTM is globally licensed, users’ funds are guaranteed protected. 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.
For those who prefer to test drive the mobile app trading experience or explore its features commitment-free, IG allows prospective traders to open a demo account specifically for mobile. By far the most powerful trading platform developed by Interactive Brokers, Trader Workstation features a comprehensive suite of powerful trading tools and technical analysis. It’s the only trading platform we reviewed that you’ll need to download directly onto your (Windows) desktop – it really needs the processing power of a CPU. In addition to the IBKR Mobile platform described above, Interactive Brokers also offers US-based forex traders access to an impressive range of web and desktop interfaces through which to trade. US-based forex traders who prefer a conservative approach to trading may also appreciate the absence of a Standard trading account.
What Are Good Forex Mobile Apps?
Some of the individual broker apps are so popular that traders who don’t have accounts with the broker still use them. Other popular forex trading apps offer free and easy access to news, price quotes, and charting. Forex5 is an innovative online trading platform that provides traders with access to global financial markets.
Over 80 Forex pairs are available for trade via two distinct types of trading accounts – one with commissions and one that is spread only thus allowing you to find the right one for your trading style. While that’s a big plus for TD Ameritrade, it is a wide platform that covers a comprehensive range of trading products, not least stocks, futures, and options. So if you’re looking to focus only on forex you may find the platform sometimes clunky by comparison to dedicated forex trading platforms, especially when it comes to comparing currency pairs. Our research methods also assessed the user-friendliness of each forex trading app. As most forex trading apps have a minimum trade size of 0.01 lots ($1,000 on USD-quoted pairs), we also evaluated maximum leverage limits.
The Best Forex Mobile Trading Platforms: Check Brokers’ Background
While over 120 countries are supported by Libertex, this doesn’t include the US. 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. While MT4 and MT5 are incredibly popular due to their wide availability, many of the best mobile apps are developed in-house by some of the best online brokers, such as Saxo Bank and IG. Speculative trading, including currency trading and CFD trading, carries an inherently high level of risk. The same high levels of volatility that create massive gains can also lead to significant losses. Trading through a recognized and licensed forex broker, however, protects your investments from market manipulation, scams and outright theft.
- Because of this, the website has content for both new and experienced traders.
- There haven’t been any significant criticisms of the company’s work up to this point.
- The MetaTrader app provides users with the liberty to manage their trading account from any device and any location.
- By far the most powerful trading platform developed by Interactive Brokers, Trader Workstation features a comprehensive suite of powerful trading tools and technical analysis.
For traders interested in those markets, this broker also deals with bond futures and single stocks of businesses headquartered in the US and Europe. Two trading platforms are available for customers of Prime XBT to use. The first is the industry standard MetaTrader 4, and the second is xStation 5, a trading platform created by XTB. With five markets, including commodities, cryptocurrency, ETF, stock, and stock index, Prime XBT offers a wide range of tradable assets with a strong focus on CFDs. Millions of traders have turned to MetaTrader, and anyone can join them for free.
Capital.com – Trade 125 Forex Pairs at 0% Commission [Minimum Spread of 0.6 Pips]
Joey Shadeck is the Content Strategist and Research Analyst for ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content. “Getting rich” or increasing your wealth has more to do with the consistency of your trading results and the size of your account. The key to building wealth while trading forex is to keep your average losses low, relative to your average profits. Learning how to withdraw money and how long the process typically takes is crucial.
Unfortunately for more seasoned traders, the Plus500 system is closed, meaning their third-party tools for analysis and automation can’t be directly linked to the app. Any trader with an FXTM account is eligible to collaborate with a broker. Each user has a unique referral link in their personal account that they can utilize to bring in more customers for the broker.
Libertex – Tight Forex Spreads From 0.2 Pips and 0% Commission on All Markets
If you are interested in trading CFDs, there is a range of great mobile options available from some of the top brokers in the industry. Check out our guide to the Best CFD Brokers and Trading Platforms to learn more about CFDs (and to check out our picks for the best CFD brokers). NetDania Stock and Forex Trader is one the highest-rated and most popular apps used by forex traders because of its ease of use and versatility.
Everyone in the community who signed up for a broker via the Traders Union referral link has access to it. The TU legal team arbitrates conflicts between brokerage firms and their clients without charging a fee. Client testimonials are included in each broker profile, giving customers a chance to read about the benefits and drawbacks of the organization from the viewpoint of active traders. Benefits of an Active Trader Account include segregated customer accounts, advanced reporting, VPS hosting services, and customized solutions. Yet, nothing prevents traders with the self-control and knowledge required to manage such high leverage from putting their abilities to the test with JustForex. Moreover, JustForex’s customer service team can be contacted via several well-known messaging apps, including Telegram, WhatsApp, Facebook Messenger, and Line.
Forex Mobile Trading Platforms: Consider Your Investment Experience and Needs
The great thing about this platform is that it’s designed for both professionals and beginners. For example, flexible leverage lets you increase your earning potential, but this is only offered to you based on your knowledge and experience. If you do intend on becoming an expert in this area, you can access a range of educational resources. This is why demo accounts are so important – they allow you to test the user-friendliness of the trading app before making a commitment. The app should also offer a smooth experience when performing research and analysis.
