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
When it comes to mobile, IG’s suite of apps has you covered. IG Academy is an app dedicated to helping you learn as a beginner; more experienced traders get MetaTrader or IG’s flagship mobile app, which is packed with powerful tools and is our No. 1 choice in 2021. Read full review
SaxoTraderGO mobile app
Saxo Bank’s mobile app SaxoTraderGO is a powerful mobile app that parallels its web counterpart, providing a seamless experience across devices. Even charts sync across web and mobile, as well as other features, making SaxoTraderGO one of the best forex trading apps on offer. Read full review
Next Generation mobile
CMC Markets’ mobile app resembles its NextGeneration web platform, giving you access to powerful research and analysis tools. Whether you’re selecting from the nearly 10,000 tradeable instruments or staying up to speed on market trends by watching CMC TV, you’ll be getting a solid experience on CMC Markets mobile. Read full review
thinkorswim app - Visit Site
TD Ameritrade’s thinkorswim mobile app packs a powerful punch of tools nested in an intelligent layout that puts the user in control. There are complex order types for forex trading, nearly 80 currency pairs, and advanced charting with over 300 indicators. Read full review
City Index mobile, MetaTrader
City Index provides a powerful mobile app featuring a suite of tools from Trading Central that provide you with access to numerous research options, along with robust charts powered by Trading View. Standout features include complex order types and the ability to close all trades in one order. Read full review
FOREX.com mobile, MetaTrader - Visit Site
The FOREX.com app features charts powered by Trading View and research modules from Trading Central, along with news headlines from Reuters. Complex order types are also supported in the FOREX.com app, along with a "close all" button to exit multiple positions quickly. Read full review
Trading Station app, MetaTrader mobile
FXCM’s Trading Station mobile app has a good balance of excellent charting, support for complex order types, and a smart design that focuses on ease of use. For example, trendlines can be drawn with precision thanks to a magnifying glass that auto-zooms while dragging the trendline into position. 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
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.
Does forex have an app?
No, there is no official app or website because the foreign exchange, or forex, market is decentralized — that is, there is no single location or site for it. The forex market consists of central banks and financial institutions such as brokers, dealers, banks and corporations (read more on Wikipedia).
Many trustworthy forex brokers do offer mobile apps for trading. There is a wide selection available, including ones that are developed by brokers in-house and ones from third-party developers. To avoid scams, you should only use regulated banks and brokers that are properly licensed to offer forex trading services in your country of residence.
What is the official forex trading app?
There is no official forex trading app or website, as the forex market is made up of a collection of banks and brokers and other dealers; each one may offer its own trading software.
Note: If you’re looking specifically for the broker FOREX.com, it offers both a proprietary app, called FOREX.com mobile, and the popular MetaTrader 4 (MT4) offered by many brokers.
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.
Can you trade forex on your 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.
Here's a summary of the best forex trading apps.
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For our 2021 Forex Broker Review we assessed, rated, and ranked 27 international forex brokers over a three-month time period resulting in over 50,000 words of published research.
Each broker was graded on 108 different variables, including our proprietary Trust Score algorithm. This innovative scoring system ranks the level of trustworthiness for each broker based on factors such as licenses, regulation and corporate structure (read about Trust Score here).
As part of our annual review process, all brokers had the opportunity to provide updates and key milestones and complete an in-depth data profile, which we hand-checked for accuracy.
Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors with 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.