The ForexBrokers.com annual forex broker review (five years running) is the most cited in the industry. With over 50,000 words of research across the site, we spend hundreds of hours testing forex brokers each year. How we test.
Almost everyone on the planet has a smartphone, yet not all mobile apps offer traders the same forex trading capabilities. This trading guide covers which brokers offer the best forex trading apps in 2021.
For our 2021 Annual Review, we tested and scored the forex trading apps of 27 different brokers. To rank each mobile trading platform, we assessed over 40 individual criteria. Competition remains fierce for trading apps, and it was a tight race for the Best in Class winners. All testing was conducted using a Samsung Galaxy S9+ (Android).
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Best Forex Trading Apps
Based on 47 different variables, here are the brokers that offer the best forex trading apps.
- IG - IG Trading app
- Saxo Bank - SaxoTraderGO mobile app
- CMC Markets - Next Generation mobile
- TD Ameritrade FX - thinkorswim app
- City Index - City Index mobile, MetaTrader
- FOREX.com - FOREX.com mobile, MetaTrader mobile
- FXCM - Trading Station app, MetaTrader mobile
IG Trading app - Visit Site
Regulated and trusted across the globe, IG offers traders the ultimate package of excellent trading and research tools, industry-leading education, competitive pricing, and an extensive list of tradeable products. This fantastic all-round experience makes IG the best overall broker in 2021. Read full review
SaxoTraderGO mobile app
For traders that can afford the USD 10,000 minimum deposit (GBP 500 for the UK), Saxo Bank offers competitive pricing, excellent trading platforms, brilliant research, reliable customer service, and over 40,000 instruments to trade. Read full review
Next Generation mobile
CMC Markets is a globally trusted broker that delivers a terrific offering for traders thanks to excellent pricing, nearly 10,000 tradeable instruments, and the Next Generation trading platform, which comes packed with quality research, innovative trading tools, and powerful charting. Read full review
thinkorswim app - Visit Site
With nearly 80 currency pairs to trade alongside a plethora of trading tools and research, TD Ameritrade’s thinkorswim platform provides US-based forex traders a winning experience. Read full review
City Index mobile, MetaTrader
Backed by GAIN Capital, City Index is a trusted brand that traders choose for its advanced trading platforms, excellent mobile app, diverse market research, education, and extensive range of markets. Read full review
FOREX.com mobile, MetaTrader - Visit Site
While not a discount broker, FOREX.com is a trusted brand that delivers an excellent trading experience for forex and CFDs traders across the globe. Read full review
Trading Station app, MetaTrader mobile
While the range of tradeable markets is narrow and pricing is just average, traders that appreciate robust trading tools alongside quality market research will find FXCM to be a winner. Read full review
Best forex trading apps Comparison
Using our forex brokers comparison tool, here's a summary of the features offered by the best forex trading apps.
|Saxo Bank||CMC Markets||
TD Ameritrade Forex
|Apple iOS App||Yes||Yes||Yes||Yes|
|Alerts - Basic Fields||Yes||Yes||Yes||Yes|
|Watch List Syncing||Yes||Yes||Yes||Yes|
|Charting - Indicators / Studies||30||58||29||348|
|Charting - Draw Trendlines||Yes||Yes||Yes||Yes|
|Charting - Trendlines Moveable||Yes||Yes||Yes||No|
|Charting - Multiple Time Frames||Yes||Yes||Yes||Yes|
|Charting - Drawings Autosave||Yes||Yes||Yes||Yes|
Comparison Tool: Compare 50+ features side-by-side
Which app is best for forex trading?
Our testing found that IG offers the best mobile app for forex trading in 2021. Not only is IG regulated globally, with IG Trading mobile, we found forex and CFD traders gain access to a variety of quality trading tools alongside multiple news sources for researching trading opportunities. Charting is also rich with features.
What's the best forex trading app for beginners?
The Plus500 app is an excellent choice for beginners solely because of the simplicity of its mobile app design. Plus500 provides the basic essential features needed to trade and view available markets in an easy-to-navigate app. Just because an app is easy to use doesn't mean it is easy to make money, but having the right tools in a simple design is essential if you are a beginner to learn how to manage risk with less complexity.
What is the best forex broker for beginners?
Plus500 is the best broker for beginners in terms of the ease of use of its trading platform. If you are looking for educational content, IG is the best choice, thanks to its extensive selection of materials integrated throughout its platform and website experience. IG even offers a dedicated mobile app for learning how to trade forex and CFDs.
Can I do forex trading on my phone?
Yes, if you have a modern smartphone running either an Android or iOS operating system, you can install forex trading apps on your phone. After opening the app, you can log in to your forex account and begin trading from your phone.
Can I teach myself forex trading?
Yes, and you shouldn't pay for any courses as there is plenty of high-quality free education available from online brokers, as well as third-party websites (our favorite is BabyPips). However, forex trading is not easy as the majority of traders lose money.
To be successful in trading forex, you must learn how to manage risk properly, depending on your goals and the strategy you choose to follow or develop. First, open a free demo account and trade using fake money to learn how the trading platform software works.
More details: To make money trading forex, work towards keeping your average losers smaller relative to your average winners. This adage says it best, “Cut your losers short and let your winners run.”
How can I trade forex in the UK?
First, select a trustworthy UK forex broker regulated by the FCA. Next, open and fund your new brokerage account, then fill out the order ticket to place a trade. Most online brokers offer demo accounts so you can practice with virtual currency and become familiar with how the trading platform works before funding.
More details: Choosing an FCA-regulated broker will ensure that you are entitled to any applicable legal protections. To be FCA-regulated in the UK, brokers must comply with a list of requirements.
How do I start trading forex with $100?
To trade forex with $100, you will need trade micro lot contracts (1000 units of currency), which most brokers offer. First, compare forex brokers that are regulated in your country of residence. Next, apply for a new account, fund, login, and fill out the order ticket to place your trade.
More details: Open a free demo (practice) account to learn how the trading platform works. You can test your strategy with the virtual balance (fake money) before placing any real trades using the $100 balance from your live account.
How to Compare the Best Forex Trading Apps
When choosing a new forex broker account for online trading, consider these five areas of the trading experience:
- 1. Trust (Regulatory status): You want a broker that you can trust, above all else. Therefore, your broker should have a high trust factor. For example, any broker that holds multiple top-tier regulatory licenses and thus is regulated in the US, UK, Australia, Singapore, Canada, Hong Kong, Japan, or Switzerland, will have a higher Trust Score on ForexBrokers.com.
- 2. Trading platforms: Our research finds that most proprietary platforms are superior to third-party software like MetaTrader. Either way you choose, be sure to select the trading platform that meets your needs across devices, whether web, desktop, or mobile trading app.
- 3. Trading tools: When I compare the research, trading tools, and educational materials available from brokers, I expect them to be rich with features and easy to use. The more comprehensive each category is within the mobile app you choose, the better off you will be in maximizing trading opportunities.
- 4. Tradeable markets: Consider the total available markets and the number of instruments that are available for you to trade at a given broker. For example, one broker may offer a small selection of currency pairs but a vast array of CFDs on other markets like stocks, commodities, futures, cryptocurrency, and other asset classes. Conversely, maybe you want to trade some exotic currencies and want a broker with a larger selection of forex pairs.
- 5. Demo accounts: Opening a free demo account allows you to learn the trading app, like test-driving a car before you buy it. You get to use the virtual account across all supported devices, such as web, desktop, and mobile. If the platform meets your needs, then you can fund a live account. Some traders also use demo accounts to test various trading strategies before trying them out with real funds.
Here's a summary of the best forex trading apps.
More Forex Guides
- Best Forex Brokers
- Best Forex Brokers for Beginners
- Best Forex Brokers for Copy Trading
- Best MetaTrader Brokers
- Compare Forex Brokers
For our 2021 Forex Broker Review we assessed, rated, and ranked 27 international forex brokers. Each broker was graded on 108 different variables and, in total, over 50,000 words of research were produced.
While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.
All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors quality data they can trust. Learn more about how we test.
Forex Risk Disclaimer
"There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses." Learn more.