There are a number of forex apps on the market that are designed to facilitate mobile trading or make a trader’s life easier by providing official market news and signals. This review explores the different options for forex trading apps available from brokers in the UK, the pros and cons of mobile trading and how to download the best forex apps in 2021.
A trader with a Plus500 account can trade CFDs on underlying financial instruments such as Forex, Stocks, Commodities, Cryptocurrency (Availability subject to regulation), Options and Indices. With tight spreads and no commission, they are a leading global brand.
A trader with a Plus500 account can trade CFDs on underlying financial instruments such as Forex, Stocks, Commodities, Cryptocurrency (Availability subject to regulation), Options and Indices. With tight spreads and no commission, they are a leading global brand.
Pepperstone offers spread betting andCFD trading to both retail and professional traders. Clients can trade FX, indices, commodities and shares on MT4, MT5 and cTrader platforms.
Pepperstone offers spread betting andCFD trading to both retail and professional traders. Clients can trade FX, indices, commodities and shares on MT4, MT5 and cTrader platforms.
CMC Markets is headquartered in London and listed on the LSE (FCA Regulated). They offer competitive spreads on a global range of assets via a next generation platform.
CMC Markets is headquartered in London and listed on the LSE (FCA Regulated). They offer competitive spreads on a global range of assets via a next generation platform.
Eightcap is a multi-regulated FX & CFD broker offering the MT4 & MT5 platforms. Award winning platform, zero commission, free education and low spreads.
Eightcap is a multi-regulated FX & CFD broker offering the MT4 & MT5 platforms. Award winning platform, zero commission, free education and low spreads.
Deriv.com are a new brokerage, offering options and CFDs on a simple, reliable, flexible platform. Get access to volatility indexes exclusively at Deriv.
Deriv.com are a new brokerage, offering options and CFDs on a simple, reliable, flexible platform. Get access to volatility indexes exclusively at Deriv.
Demo Account
Yes
Regulated By
Malta (MFSA), Labuan (LFSA), Vanuatu (VFSC), British Virgin Islands (BFSC)
BDSwiss offer 250+ Shares, Indices, Forex, Commodities and Cryptocurrencies markets via CFDs. With spreads from 1 pip and an award winning app, they offer a great package.
BDSwiss offer 250+ Shares, Indices, Forex, Commodities and Cryptocurrencies markets via CFDs. With spreads from 1 pip and an award winning app, they offer a great package.
XM.com Offer a range of Account types and a low minimum deposit to appeal to all levels of trader. With 1000+ markets and low spreads they offer a great service.
XM.com Offer a range of Account types and a low minimum deposit to appeal to all levels of trader. With 1000+ markets and low spreads they offer a great service.
Forex.com boast a global reputation. Regulated in the UK, EU, US and Canada they offer a huge range of markets, not just forex, and offer very tight spreads and a cutting edge platform.
Forex.com boast a global reputation. Regulated in the UK, EU, US and Canada they offer a huge range of markets, not just forex, and offer very tight spreads and a cutting edge platform.
Skilling are an exciting new brand, regulated in Europe and beyond, with a bespoke browser based platform, allowing seamless low cost trading across devices.
Skilling are an exciting new brand, regulated in Europe and beyond, with a bespoke browser based platform, allowing seamless low cost trading across devices.
Reliable and affordable trading since 2009. Join over 400,000 others trading on 300+ CFD products over assets like forex, gold, indices and shares from 0.0 spreads through TradingView, MT4 or MT5. Vantage FX is ASIC regulated and client funds are segregated. Open an account in under 5 minutes.
Reliable and affordable trading since 2009. Join over 400,000 others trading on 300+ CFD products over assets like forex, gold, indices and shares from 0.0 spreads through TradingView, MT4 or MT5. Vantage FX is ASIC regulated and client funds are segregated. Open an account in under 5 minutes.
Trade Nation is a top FX and CFD broker regulated in multiple jurisdictions incl the UK and Australia. They boast tight spreads and no minimum deposit.
Trade Nation is a top FX and CFD broker regulated in multiple jurisdictions incl the UK and Australia. They boast tight spreads and no minimum deposit.
IG offer spread betting, CFD and Forex trading across a range of markets. They are FCA regulated, boast a great trading app and have a 40 year track record of excellence.
IG offer spread betting, CFD and Forex trading across a range of markets. They are FCA regulated, boast a great trading app and have a 40 year track record of excellence.
Multi-Award winning broker. Specialising in Forex but also offering stocks and tight spreads on CFDs and Spread betting across a huge range of markets.
Multi-Award winning broker. Specialising in Forex but also offering stocks and tight spreads on CFDs and Spread betting across a huge range of markets.
Binary.com are the established pioneers of binary options. The choice of the advanced trader, Binary.com offer the greatest flexibility of any binary broker. They also offer Forex and CFD via the MT5 platform.
Binary.com are the established pioneers of binary options. The choice of the advanced trader, Binary.com offer the greatest flexibility of any binary broker. They also offer Forex and CFD via the MT5 platform.
Instaforex provide Forex, CFDs, Stock and Cryptocurrency trading. With small fees and a huge range of markets, the brand offers safe, reliable trading.
Instaforex provide Forex, CFDs, Stock and Cryptocurrency trading. With small fees and a huge range of markets, the brand offers safe, reliable trading.
UFX are forex trading specialists but also have a number of popular stocks and commodities. Offering tight spreads and one of the best ranges of major and minor pairs on offer, they are a great option for forex traders.
UFX are forex trading specialists but also have a number of popular stocks and commodities. Offering tight spreads and one of the best ranges of major and minor pairs on offer, they are a great option for forex traders.
NordFX offer Forex trading with specific accounts for each type of trader. Zero accounts offer spread from 0 pips, while the Crypto offers optimal cryptocurrency trading. Open account from just $10.
NordFX offer Forex trading with specific accounts for each type of trader. Zero accounts offer spread from 0 pips, while the Crypto offers optimal cryptocurrency trading. Open account from just $10.
Demo Account
Yes
Regulated By
VFSC
MT4 Integration
Yes
Min. Deposit
$10
Min. Trade
$1
Crypto
Yes
What Is A Forex App?
The best traders consume information from multiple sources to inform trades and react quickly to the FX market. The must-have forex apps enable this by allowing traders to act on-the-go from their mobile device, providing a constant stream of news and signals so that the trader is kept up-to-date. Most of the top forex and Bitcoin brokers offer a mobile trading app like MT4 or MT5 in 2021.
MT4 Forex Trading
Types Of Forex Apps
Mobile forex apps can generally be split into two categories: Active Trading and Supplementary.
Active Trading Forex Apps
Mobile Trading Platforms
Just as most forex traders needs a platform on their computer or laptop, most will also utilise the convenience of a mobile app too. Mobile trading platforms tend to have similar functionality to their desktop counterparts, but are available on-the-go, ensuring your live portfolio is always at your fingertips so you never miss a trade.
Many brokers also offer demo accounts on the mobile app too, which enable beginners to practice trades in their spare time while learning.
Social & Copy Trading Apps
Social and copy trading apps allow forex traders to view trades made by other investors that match their risk profile. These are perfect for traders who are interested in investing but don’t have the hours to complete the research required and are happy to trust in the knowledge of others. There are varying degrees of automation, but some forex apps enable the complete following and copying of another trader’s positions with minimal manual overlay.
Similarly, forex trading robot (or bot) apps use algorithms to search for, and execute trades. Beginners who are looking to dabble in forex trading may be interested in downloading these applications.
It’s important to look at the past performance of algorithms to check they have has a history of successful prediction. This is known as backtesting. All good robot app providers should routinely stress test their bots to ensure they are performing as marketed – and this information should be available before you purchase. However, as all investors know, past performance is not an indication of future profits, so ensure you are comfortable with the risk.
Note, you can also use forex apps, such as MT4 and MT5 to build your own trading bot.
Supplementary Apps
News & Economic Calendar Apps
These forex apps provide a constant stream of up-to-date news which may impact the forex market. Keeping abreast of the latest goings on is essential as the market can be wildly impacted by political and social events. Some of the most popular forex apps are specialists in 24-hour news services and alert traders across time zones.
Forex Signals Apps
Signals apps provide tips and indicators to help you decide which FX trades to make. They are often marketed as professional forex traders who are selling their knowledge or even giving it away for free. There are apps out there that are specifically matched to certain trading strategies, for example, breakout signals apps.
However, always exercise caution when choosing a service. Signals apps aren’t necessarily reliable and could do more harm than good. Whilst there are some highly-rated and legitimate firms out there, such as Forex Signals by StartUp apps, companies like Forex Hunter and Forex Kings have been criticised for poor signals and customer service. Many reviews question whether the signals actually work.
Of course, there is no simple playbook to forex trading – even the top forex signals apps won’t be correct 100% of the time.
And The Rest!
There are hundreds of other forex apps out there with functionality to assist your trades, including position size and profit calculators, charts, reminders, heatmaps and log/journal apps. All can be downloaded from the respective app stores.
Pros Of Forex Apps
There are several reasons why utilising top forex apps can make your life easier:
Agility – Forex trading apps enable you to make trades from anywhere, giving you the agility to act to FX rates at the right time.
24/7 market knowledge – The best forex analysis apps give you market data around the clock and help you to keep your finger on the pulse. Some can also give you price alerts when a currency reaches certain levels so that you never miss a trade.
Supplements desktop trading – Being able to trade or strategise from anywhere is a useful supplement to desktop trading. It is also great for beginners.
Demo trading – The top 3 forex trading apps also have demo accounts or simulators where you can practice at the touch of a button without risking capital.
Forex games – You can try some of the forex games out there such as Forex Hero or Trading Game which teach you strategy whilst you play.
Cons Of Forex Apps
Functionality – Your forex trading app is unlikely to have the full range of functionality that you’ll find on desktop platforms. If the functionality is there, it is sometimes unintuitive and therefore some traders find it easier to work on a desktop computer. Many traders find that forex apps are great for watching trades or managing stops, but won’t place trades on their mobile. You’ll soon find which mix of working styles works best for you.
Impulsivity – Hardened forex traders will have heard the mantra ‘plan your trade, trade your plan’. But mobile forex apps can facilitate the opposite of this. Whilst quick reaction times can sometimes be beneficial, they may also increase the likelihood of impulsive trades, which could harm your strategy in the long run.
Unsuitable for analysis – Some of the best forex indicators aren’t available on a mobile app, which can make it hard to plan your trade effectively. Plus, the small screen size means that you can’t see the detail which is available on a PC. For these reasons, many traders prefer to use multiple platforms rather than stick to just the one.
Best Forex Trading Apps
So, now we know why they’re useful, what are the top 5 forex trading, signal and market data apps out there?
Best For Forex Trading
MetaTrader 4
One of the leading forex apps, MetaTrader 4 is consistently seen as the best foreign exchange trading platform on the market and is certainly the most widely-used among brokers. The mobile app has all the functionality you need to analyse and place real and demo forex trades:
9 time frames
Detailed trading history
Real-time forex market quotes
30 of the most popular trading indicators
3 types of charts, including Japanese candlesticks
MT4 Mobile
However, some of the biggest brokers, such as Forex.com, have their own apps and platforms and don’t use MT4, so you may want to consider in your review which broker you’d like to work with first.
NetDania Reviews
Another of the most popular and highly rated trading and forex apps, NetDania has over 20,000 financial instruments including FX, stocks, indices and cryptocurrencies. It is arguably the best from a mobile trading perspective with a superior selection of charts.
2,200+ currency pairs
Real time stocks and indices
Push notifications on news events
Low latency interbank rates from top 10 liquidity providers
NetDania Forex App
eToro
eToro is arguably one of the best social trading platforms and forex apps online. You can start small with just a $50 minimum deposit and learn how to forex trade from the community. Follow more experienced traders and copy their strategy until you feel ready to go it alone.
eToro Forex Social Trading App
Best For News & Market Data
Bloomberg Business Mobile App
Bloomberg is used by traders across the world for the latest news on the forex markets. Whilst you may need to subscribe to Bloomberg services for some of the functionality, much of the information is available for free on their basic forex option app. Users can also review their market position, track their portfolio and even stream Bloomberg TV straight to their device.
Bloomberg News App
Thinkorswim Mobile (TD Ameritrade)
Originally famous for banking, TD Ameritrade is one of the most well-known trading platforms and forex apps out there. Their thinkorswim service also provides a wealth of forex information to traders who are looking to limit their losses, with information from the National Futures Association (NFA).
The myTrade feature allows users to interact with the community of traders out there. Plus, the paperMoney simulator facilitates practice investing in a safe learning environment. TD Ameritrade is also commission-free, just like Robinhood, making it a great alternative if you’re looking for similar forex apps with more tools and charts.
TD Ameritrade Forex Trading App
How To Download Forex Apps
Before you start trading on your chosen mobile forex online app, you’ll need to download it from the app store. For iOS users, visit the Apple App Store on your phone and for Android users, go to Google Play. Windows phone users will have to stick to desktop versions for apps such as MetaTrader 4 and 5.
Type in the forex app of your choice and download. Once you’re on the app, you’ll need to log in to your trade account using the portal details provided by your broker, so make sure you’ve opened an account with them first. You can use a demo account to do this if you’re looking to practice.
Certain forex apps are also available on your Apple Watch, for example, news apps that will send push notifications to you at all times of the day. Many FX signals and backtesting apps are free to download for iPhone or Android, however some, such as the Bloomberg Business app, might require a subscription to access the higher-tier content.
Forex trading apps for your Mac or PC are usually available for download via your broker’s website.
For all the best supplementary forex apps, such as robots, signals, forex rates and calculators, these can be found by searching for downloads on your iOS or Android app store.
Should I Start Using Forex Trading Apps?
Mobile forex apps are an easy way to keep your finger on the pulse 24/7. But, most traders will prefer to use them in conjunction with desktop trading which is easier for in-depth analysis. At the very least, forex apps that offer you market data and news on-the-go can prove useful. With so many forex apps out there that promise similar functionality, consider what combination best adds to your trading experience.
FAQs
How Do You Download A Forex Trading App?
All forex trading apps can be accessed via the app store on your mobile phone. Most apps offer both iOS and Android downloads.
Do Forex Signals Apps Work?
Forex signals apps can be incredibly useful as part of your trading strategy. However, it’s important to thoroughly research an app before you purchase. Have a look at various sources of customer reviews to check they are legitimate. No signals app will be correct 100% of the time, so check that you are comfortable with the risk before you invest – and distrust any app that promises too much.
Are Forex Apps Free?
There are many forex trading apps out there that are free to download, including MetaTrader 4 and 5. Many of the news and market data apps are also free, but you may have to pay for a subscription to access higher-tiered content.
Do I Need A Forex Trading Mobile App?
You don’t need a mobile trading app to trade forex, however, it could help you to stay on top of the latest news and your portfolio. Therefore, many traders find it important to be able to access this information on-the-go.
What Are The Best Forex Apps For Beginners?
The best forex trading apps for beginners are those that are intuitive and easy-to-use. You may want to start with a social trading app, such as eToro, that will enable you to learn from the community. Alternatively, start with forex trading games such as The Trading Game or Forex Hero to practice without risking capital.
