Trading on the go is something that is on the rise in today’s fast-paced world, therefore, the need for a fast and reliable app is something that is becoming more and more popular.
Although the list below is subjective, the forex trading apps included have won various awards in the process receiving many positive reviews. They are also well-rated in the Play Store and App Store.
So, what’s the best forex trading app for you? Here are the 7 best forex trading apps for both beginners and experienced traders according to reviews and ratings.
Seven Best Forex Trading Apps for IOS and Android
Whether you are an IOS user or an Android user, here are the four best forex trading apps to help you trade on the go.
Forex.com is one of the most widely used brokers in the world. The broker also offers some of the lowest spreads available on the market. Their forex trading app is especially recommended for beginners because of its user-friendly interface.
The Forex app functions well on both IOS and Android phones. The app’s features and tools are indistinguishable from the desktop version. Also, users can customize their dashboards for easier navigation and interaction.
Forex.com is part of StoneX Group, a Nasdaq-listed company. This means that the product is governed by strong regulations. Traders can buy and sell stocks, forex, indices, commodities, metals, cryptos, and oil and gold, among others.
The thinkorswim app is the mobile version of TD Ameritrade’s mobile platform, one of the leading stocks and futures trading brokers in the world. TD Ameritrade is a subsidiary of Charles Schwab Corp, a publicly listed US financial services company. This means that TD’s products including the thinkorswim app, are well-regulated to ensure the security of trader funds.
The app has an easy-to-use interface where traders can trade more instruments including stocks and futures directly. Moreover, the Thinkorswim mobile trading app offers traders access to news, notifications, and alerts on the market. Overall, the app is rated as one of the most all-inclusive mobile trading apps.
TD Ameritrade has also created a desktop and web version of the thinkorswim app enabling traders to switch from one device to another seamlessly.
In addition, eToro allows traders to withdraw profits from their accounts multiple times a day. The app’s community enables traders to access data and content in real-time. eToro also offers easy-to-use analysis tools that make trading easier even for those who do not fully understand the technical world of forex trading.
The platform offers various digital currencies like Bitcoin, Ethereum, and other cryptocurrencies on your watch list. It is excellent for those who want to carry out crypto trading alongside currency trading.
One of eToro’s biggest advantages over other forex trading apps is that it is designed with social trading in mind. The app is easily considered to be the pioneer of forex copy trading and has over the years launched copy traders for several instruments including crypto.
The app allows traders to follow expert traders enabling them to copy the trade picks of successful traders. Moreover, it also allows traders to invest in a basket of assets called funds, allowing you to diversify your risk in a single trade.
The Nadex mobile app is a miniature-scale version of their desktop user experience, providing a full range of account management tools. In addition, it gives you access to the direct market.
However, it may require some getting used to since you will need to toggle between the charts to order an entry ticket. Nadex is especially beneficial for those interested in binary options and spreads trading.
Entry and exit from the market are not direct, making this option better suited for more advanced traders. However, if you are a fast learner, you can still find it easier to use the app after a short period of practice.
The NetDania iOS and Android app is the mobile version of the web-based platform. This is one of the most comprehensive forex trading apps as it comes loaded with all the features that you can access via the desktop platform.
The app allows traders to launch multiple charts, each with customized indicators. They can also link multiple charts to the same timeline to improve market analyses. According to NetDania’s introduction video, you can also practice on-chart trading, including placing trailing stops.
Other features that traders can gain access to include the ability to share their trading experience and analysis with others, as well as, being able to catch up with the latest events and news via an easily accessible news feed.
The app allows traders to trade multiple asset types and markets including forex, CFDs, commodities, and indices.
SaxoTraderGO is a mobile trading app offered by SaxoBank, one of the leading forex brokerage platforms. The app comes in both Android and iOS.
SaxoTraderGo allows traders to trade multiple asset classes ranging from stock CFDs and forex, all the way to ETFs, bonds, and commodities, among others. Overall, traders can access up to 35,000 trading instruments.
The app utilizes the intuitive trading features of the MetaTrader to allow traders to analyze the market using charts, gain access to market analysis and news, and monitor their trading activity on the go.
Traders can access all the major currency pairs from an already prepared list or use the search feature to find their favorite currency pair.
IG Spot Forex Trading App
IG is one of the world’s leading forex brokers. One of the London, UK-based company’s leading products is the IG Forex spot trading app. The app offers traders full functionality and features as they would experience when trading on the main website.
Although IG does offer an Android forex trading app, there is no forex trading app for iPhone users. However, the company has designed a mobile web version for iOS with features that enable iPhone device owners to trade on the go.
As one of the leading forex brokers in the world, IG offers traders an extensive portfolio of tradable instruments ranging from forex, ETFs, CFDs, bonds, stocks, and commodity CFDs. You can also open a cryptocurrency account to trade BTC, ETH, and more cryptos.
For those based in the UK, you can also do spread betting on the platform.
How Telegram.Forex Enhances Your Mobile Trading Experience
Telegram. forex is a forex trading service that offers forex trading signals in real-time through their telegram channel.
The Telegram app can easily be downloaded on the Play Store or App Store free of charge. On the app, you can choose to join groups (via invites or by requesting to join) or subscribe to channels. Telegram. Forex is one of the top forex trading service providers on the platform.
Telegram.Forex provides subscribers with access to the best forex signal services providers, allowing them to select their best picks based on performances and risk appetites.
Forex trading apps are a necessity for modern traders. The phrase “trade on the go” is not meant to be a metaphor and it is not a strategy that you can choose to ignore. It is part of a day trader’s life. However, not all forex trading apps are useful. Some experience downtimes, others crash often, while others are simply basic and lack the important tooling required to trade on the go.
Nonetheless, if in the end, the whole idea of trying to juggle with forex charts on a smartphone screen is not something you look forward to, you can always take a relatively passive approach to forex trading.
This is why forex trading apps like Forex.Telegram comes in handy. Although experienced traders are not barred from subscribing to the Forex.Telegram channel on Telegram, app serves an even greater purpose for beginner traders and traders that do not have the time to analyze the markets.