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AuthorBy Jeffrey Cammack
Updated: September 30, 2021

Forex traders need to have constant access to trading accounts and market news to take advantage of unexpected opportunities. Mobile apps are the best way to keep trading when on the move, but mobile trading also has its downsides.

To make this list of the best Forex trading apps, we have included the apps that best capture the desktop trading experience. This includes advanced charts, news feeds and live market data.

Best Forex Trading Apps 2021

Last updated on 30 Sep 2021
Updated 30 Sep 2021
by Editorial Director Jeffrey Cammackby Jeffrey Cammack
Jeffrey Cammack
All Brokers Regulated
All Brokers Regulated
by Trusted Authoritiesby Trusted Authorities
Trusted
1
AvaTrade
Min. Deposit
USD 100
4.484.48
Min. Spread
0.90 pips
Trading Platforms
Fx Pairs
55
Overall Rating
11110.54.48/ 5
AlertAccepts Tanzanian Clients. Average spread EUR/USD 0.90 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. AvaTrade Group regulated by ASIC, FSCA, B.V.I FSC & FSA.
2
FXTM
Min. Deposit
USD 10
4.334.33
Min. Spread
0.10 pips
Trading Platforms
Fx Pairs
62
Overall Rating
11110.54.33/ 5
AlertAccepts Tanzanian Clients. Average spread EUR/USD 1.50 pips on trading account with lowest minimum deposit. Max leverage Flexible. Islamic account available. MT4 & MT5 platforms supported. Leverage offered can vary depending on country of residence, and your trading knowledge and experience. FXTM is regulated by CySEC, FCA, FSCA, and the FSC.
3
XM
Min. Deposit
USD 5
4.254.25
Min. Spread
0.60 pips
Trading Platforms
Fx Pairs
57
Overall Rating
11110.54.25/ 5
AlertAccepts Tanzanian Clients. Average spread EUR/USD 1.60 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. XM Group regulated by CySEC, ASIC, and the IFSC.
4
HotForex
Min. Deposit
USD 5
4.494.49
Min. Spread
0 pips
Trading Platforms
Fx Pairs
53
Overall Rating
11110.54.49/ 5
AlertAccepts Tanzanian Clients. Average spread EUR/USD 1 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. HF Markets Group regulated by the FSCA, FCA, FSC, CySEC and the DFSA.
5
eToro
Min. Deposit
USD 200
3.693.69
Min. Spread
1 pips
Trading Platforms
Fx Pairs
60
Overall Rating
1110.503.69/ 5
AlertAccepts Tanzanian Clients. Average spread EUR/USD 1.0 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. eToro proprietary trading platform support. eToro is regulated by CySEC, FCA, and ASIC. 67% of retail investor accounts lose money when trading CFDs with this provider.
6
markets.com
Min. Deposit
USD 100
4.494.49
Min. Spread
0.60 pips
Trading Platforms
Fx Pairs
67
Overall Rating
11110.54.49/ 5
AlertAccepts Tanzanian Clients. Average spread EUR/USD 0.70 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. MarketsX is regulated by CySEC, ASIC, and the FSCA.
7
Plus500
Min. Deposit
USD 100
4.094.09
Min. Spread
0 pips
Trading Platforms
Fx Pairs
70
Overall Rating
11110.54.09/ 5
AlertAccepts Tanzanian Clients. Plus500 does not publish their spreads, and thus a cost of trading can not be established. Max leverage 30:1. Islamic account available. Only Plus500 proprietary trading platform supported. Plus500 is regulated by FCA, CySEC, ASIC, and MAS.All information presented is verified as of the date of the review.Most retail CFD accounts lose money. Your capital is at risk.
8
XTB
Min. Deposit
USD 5
4.144.14
Min. Spread
0.80 pips
Trading Platforms
Fx Pairs
48
Overall Rating
11110.54.14/ 5
AlertAccepts Tanzanian Clients. Average spread EUR/USD 0.50 pips on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & xStation platforms supported. XTB Group is regulated by CySEC, FCA and the IFSC

  • AvaTrade - Best Forex Trading App
  • FXTM - Best App for Automated Trading
  • XM - Fastest Execution Speed
  • HotForex - Best App for Forex Analysis
  • eToro - Best App for Social Traders
  • markets.com - Most Instruments to Trade
  • Plus500 - Best for Non-Forex CFDs
  • XTB - Best Regulated Forex Broker

AvaTrade – Best Forex Trading App

AvaTrade’s flagship mobile app is called AvaTradeGo and was voted the Best Forex Trading App in 2020 at the Global Forex Awards. AvaTradeGo provides a stable trading experience with an advanced dashboard, with intuitive management tools, clear charts, zoom for details, and a Market Trends feature to monitor trading trends within the AvaTrade community. AvaTrade’s fees are some of the lowest for an account with a 100 USD minimum deposit – as low as 0.9 pips on the EUR/USD.

AVATRADEGO FEATURES

  • Choose from over 1,000 instruments to trade, including Forex pairs, Commodities, Stocks, Cryptocurrencies and more
  • AvaProtect loss protection: Any losses are fully refunded, but any gains are the traders to keep
  • Market Trends: Monitor social trends, see what other traders buy and sell, and stay on top of your trades
  • Secure deposits, FSCA-regulated and 24/5 Customer Support 
Pros
  • Good for beginners
  • Well regulated
  • Low minimum deposit
Cons
  • Dealing desk
  • Limited market analysis
AlertAccepts Tanzanian Clients. Average spread EUR/USD 0.90 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. AvaTrade Group regulated by ASIC, FSCA, B.V.I FSC & FSA.

FXTM – Best App for Automated Trading

Founded in 2011 and regulated by the UK’s FCA and the FSC in Mauritius, FXTM is an established Forex and CFD broker. Through the FXTM Trader mobile app, traders can access FXTM’s complete range of CFDs, including Forex, spot metals, 180 company shares, commodities, indices and cryptocurrencies. With FXTM Trader you can open and close positions in seconds, fetch live currency rates, manage your trading accounts, and supervise your FXTM Invest copy-trading account.

FXTM TRADER FEATURES

  • Monitor your FXTM Invest, FXTM’s leading copy trading system
  • Micro Account with a 10 USD minimum deposit
  • Trading on Forex, commodities, metals, stocks, and indices
  • Access to the MyFXTM dashboard, letting you deposit, withdraw and monitor your funds in seconds
  • Enable 1-click trading for even quicker buying and selling
Pros
  • Good for beginners
  • Excellent education
  • Well regulated
  • Low minimum deposit
Cons
  • Expensive withdrawals
AlertAccepts Tanzanian Clients. Average spread EUR/USD 1.50 pips on trading account with lowest minimum deposit. Max leverage Flexible. Islamic account available. MT4 & MT5 platforms supported. Leverage offered can vary depending on country of residence, and your trading knowledge and experience. FXTM is regulated by CySEC, FCA, FSCA, and the FSC.

XM – Fastest Execution Speed

XM is a well-regulated broker supporting MT4 and MT5 native XM apps with three account types: A Micro Account, Standard Account and a commission-based XM Zero Account with super-tight spreads. Each account offers tight spreads, with the EUR/USD starting at 1.6 pips on the Micro and Standard Account. The XM Zero Account has spreads down to 0.1 pips with a commission of 7 USD round trip. For beginners, education and research are some of the best globally.

XM APP FEATURES

  • Both MT4 and MT5 trading platforms are available as apps
  • Trade on Forex, stock CFDs, commodities, equities, precious metals, energies, and shares
  • 99% of trades are executed in less than a second with a 100% execution rate. No re-requotes or rejections of orders.
Pros
  • Well regulated
  • Excellent education
  • Wide range of assets
  • Fast and free withdrawals
Cons
  • Dealing desk
AlertAccepts Tanzanian Clients. Average spread EUR/USD 1.60 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. XM Group regulated by CySEC, ASIC, and the IFSC.

HotForex – Best App for Forex Analysis

FSCA regulated and with ZAR trading accounts, HotForex offers trading on Forex, commodities, indices, shares, bonds, and ETFs – though it recently stopped offering crypto CFDs. The new HotForex HF App features include in-app fund transfers, advanced charting, and access to HotForex’s copy-trading accounts (HFcopy and PAMM).  Other features include a live rate stream for CFDs on forex, commodities, stocks and indices, a market news stream and the latest analysis published by the HotForex research team.

HF APP FEATURES

  • Micro Account: with a 70 ZAR (5 USD) minimum deposit, fast market execution and spreads starting at 1 pip.
  • Analytical tools: Daily Market Analysis from experts, a market sentiment tool, and Trader’s Board – a detailed look at the world’s markets with volume indicators and live charts.
  • Trading calculators, an economic calendar, and information on upcoming live webinars with reservation functionality.
  • A dedicated section for copy-trading: Monitor the status of investments, allocate funds and manage your portfolio.
Pros
  • Low minimum deposit
  • Tight spreads
  • Well regulated
  • Good range of accounts
Cons
  • Limited base currencies
AlertAccepts Tanzanian Clients. Average spread EUR/USD 1 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. HF Markets Group regulated by the FSCA, FCA, FSC, CySEC and the DFSA.

?eToro – Best App for Social Traders

Founded in 2007, eToro were the creators of the social trading system. It remains the leading social trading broker and its unique and innovative trading platform is built from a mobile-first perspective, leading to a smooth and simple trading experience.  

✔️Simplicity

Copying other eToro user’s trades straight from the social feed is a simple process and the app has won many awards for its intuitive and straightforward design. Many of the complex trading features found on other platforms like MetaTrader and cTrader are either removed or are blended into the trading experience in a more natural way. This point-and-click platform is perfect for beginners and needs little introduction before opening trades.

✔️Zero Commission Cryptocurrency Trading

eToro users enjoy zero commission and eToro offers access to over 90 crypto and cross-crypto pairs. eToro is also a fully regulated crypto service provider. eToro members can buy Bitcoin, Ethereum, XRP, and other top cryptocurrencies without deposit fees.

Pros
  • Well regulated
  • Good for beginners
  • Innovative trading tools
Cons
  • Limited education
  • Wide spreads
AlertAccepts Tanzanian Clients. Average spread EUR/USD 1.0 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. eToro proprietary trading platform support. eToro is regulated by CySEC, FCA, and ASIC. 67% of retail investor accounts lose money when trading CFDs with this provider.

Markets.com – Most Instruments to Trade

Founded in 2010, Markets.com’s offers trading on over 2,200 financial instruments including stocks, Forex, commodities, indices, cryptocurrencies, ETFs, and bonds. Markets.com mobile trading app, called Marketsx, offers fast, low-cost trading on over 2,200 financial instruments. The app has been natively designed for both iOS and Android, providing a smooth and stable trading experience.

MARKETSX FEATURES

  • Low trading costs, with spreads starting at 0.6 pips on the EUR/USD and no commission.
  • Over 2000 global shares, 67 currency pairs, 41 global indices, 27 commodities (including everything from gold and copper to wheat, cotton, and heating oil), 60 ETFs, 7 cryptocurrencies, and 4 government bonds.
  • 23 of Marketsx exclusive Blends CFDs. Blends are stock baskets of industry-leading companies.
  • Built-in advanced charting – trendlines, channels, pitchforks, Fibonacci Retracements, and more.
  • A range of tools that use data from leading analysts, hedge funds, and commentators. Each tool has integrated buy and sell buttons.
Pros
  • Well regulated
  • Tight spreads
  • Wide range of assets
  • Fast and free withdrawals
Cons
  • High minimum deposit
AlertAccepts Tanzanian Clients. Average spread EUR/USD 0.70 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. MarketsX is regulated by CySEC, ASIC, and the FSCA.

Plus500 – 2000+ Non-Forex CFDs

Founded in 2008 and regulated by the FSCA in Tanzania, Plus500 allows trading on 70+ Forex pairs, cryptocurrencies, indices, commodities, shares, options, and ETFs. Plus500 is a leading CFD provider mainly due to the intuitive nature of its mobile trading app and low trading fees. Spreads are competitive across all instruments, and trading is always commission-free. 

PLUS500 APP FEATURES

  • Free unlimited demo account, only start trading with real money when you are ready
  • Protect your positions by setting stops and limits, including a Guaranteed Stop
  • Advanced order types, sentiment indicators, and price alerts to stay on top of the market
  • Multi-language 24/7 customer support
Pros
  • Well regulated
  • Wide range of assets
Cons
  • Limited education
  • Limited account options
AlertAccepts Tanzanian Clients. Plus500 does not publish their spreads, and thus a cost of trading can not be established. Max leverage 30:1. Islamic account available. Only Plus500 proprietary trading platform supported. Plus500 is regulated by FCA, CySEC, ASIC, and MAS.All information presented is verified as of the date of the review.Most retail CFD accounts lose money. Your capital is at risk.

XTB – Best Regulated Forex Broker

Founded in 2002 in Poland, XTB offers trading on over 1500 financial assets including Forex, indices, commodities, stock CFDs, ETF CFDs, and cryptocurrencies. XTB has successfully incorporated many of its desktop xStation trading platform’s features into the xStation mobile app. With a smooth and intuitive design, the transparent charts (also available horizontally) allow clients to track market movements accurately. XTB has relatively low fees compared to many brokers, with no minimum deposit requirement and spreads averaging 0.9 pips (EUR/USD).

XSTATION APP FEATURES

  • Access XTB’s award-winning market analysis and market sentiment from inside the app
  • Control your take-profit and stop-loss directly on the chart or through the integrated trading calculator
  • Filter instrument classes and set favourites with the market analysis dashboard.
  • Fully customisable layout. Traders can also choose between light and dark mode, saving battery and keeping clarity.
Pros
  • Well regulated
  • Tight spreads
  • Low minimum deposit
  • Good for beginners
Cons
  • Limited platform choice
AlertAccepts Tanzanian Clients. Average spread EUR/USD 0.50 pips on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & xStation platforms supported. XTB Group is regulated by CySEC, FCA and the IFSC

What should traders look for in a Forex Trading App?

Mobile Trading

Forex trading apps are all different, but the best will have fast execution speeds, complete functionality, platform stability and a full range of assets to trade.

Fast Execution Speed

While this depends on the mobile device’s connection to the internet, it is important that the app itself does not suffer any loss in execution speed when compared to the desktop version of the platform.

Fast execution speed is an essential feature of the best Forex apps

XM App

The XM trading platform is famous for its execution speed and the same technology powers its trading app – expect fast mobile execution and an intuitive trading experience. 

Full Functionality

Trading apps should match the functionality of their desktop versions and they should feel familiar to users of the desktop platform. While charts on a mobile device are going to be less customisable than on a desktop, there should be some of the more popular functions found on the desktop version. This is especially valuable for custom indicators and common timeframes.

Mobile apps should feel familiar to users of the same desktop app

Etoro Mobile

The eToro mobile app is famous for its simple, intuitive design and its similarity to the eToro desktop trading platform.

Platform Stability

There is nothing worse than a Forex trading app crashing when you the markets are moving against your position. Platform stability is an absolute necessity and should never be compromised.

A stable trading app is an absolute necessity

Markets.com’s Marketsx app is not only packed full of features but is also based on native design for iOS and Android. This provides a smoother and more stable trading experience.

Marketsx

Which is the best Forex trading App?

AvaTrade has the best Forex trading app. Its flagship mobile app is called AvaTradeGo and was voted the Best Forex Trading App in 2020 at the Global Forex Awards. AvaTrade has invested a lot of time and money into AvaTradeGo and the results are clear.

AvaTradeGo was voted the Best Forex Trading App 2020 at the Global Forex Awards

AvaTradeGo provides a smooth trading experience with a sophisticated dashboard, complete with a set of intuitive management tools, clear charts, zoom for details, and many more helpful features unique to this app.

What are the advantages of Forex Trading Apps?

The advantages of the best Forex trading apps are the convenience, mobility, and quick response time they provide for traders.

Convenience

Before smartphone trading apps, Forex traders had to close all their positions when they left their desk and accessing Forex news and data was difficult.

With a trading app, you can keep trading when you leave your desk

But now all aspects of Forex trading can be achieved via a trading app. Most apps will allow you to open and close positions, use advanced charting to analyse the market and keep abreast of breaking news and economic data that affect the markets.

Mobility

While Forex trading apps are convenient, they also allow traders to continue all aspects of Forex trading while on the go.

With a trading app, you can track your positions, even when you are out shopping

Whether you are commuting to work on a train, or walking down the street to go shopping, you can keep track of your positions and the market movements.

mobile-trading-3

Response Time

Trading apps also allow you to respond to market movements in an instant.

Trading apps allow traders to respond to market movements in an instant

Rather than having to wait until you are at your PC to take advantage of price movements, you can open or close an order immediately with the tap of your screen.

What are the disadvantages of Forex Trading Apps?

Small screens, distractions while you are on the move, slow execution speed and the potential for overtrading are all disadvantages of mobile trading that you should be aware of.

Screen size

Professional traders use two monitors with multiple charts and often hold numerous open trades. You cannot do this on a small mobile screen without the risk of missing important details.

Mobile traders should be aware of the charting limitations on their app

Mobile traders should try to limit the number of open trades and be aware of the charting limitations on their trading app

Distractions 

Mobile devices are designed to be with you when you are doing other things. Trading while you are doing other tasks can be a dangerous game.

Trading when you are doing other tasks is a dangerous game

If you are trading on a mobile device, make sure that you have taken the time and space to judge your trading decisions before following through.

Man on phone on street

Execution Speed

While execution speeds on the best mobile trading apps are good, you should not use them for scalping. Mobile networks are getting faster all the time, but there will always be a delay relative to a desktop trading environment.

Overtrading

Often, the best move when trading is to do nothing – especially when you are on the move and without access to the tools and charts you have at your desk. With the convenience of a mobile trading app, there is the danger that you will be tempted to trade too often, and in ways that you would not normally do when at your desk.

Final Word

Forex trading apps are a useful addition to a trader’s toolbox but should never be used as a replacement for a desktop platform.

Mobile trading apps are not a replacement for a desktop platform

While their convenience is undeniable, there is just too much space for distraction and overtrading while on a mobile device.

The best Forex trading apps can achieve some of the aspects of the best trading platforms but will never be able to match a desktop platform for analysis and execution speed.

Forex Risk Disclaimer

Trading Forex and CFDs is not suitable for all investors as it carries a high degree of risk to your capital: 75-90% of retail investors lose money trading these products. 

Forex and CFD transactions involve high risk due to the following factors: Over-leveraging, unpredictable market volatility, slippage arising from a lack of liquidity, inadequate trading knowledge or experience, and a lack of regulatory protection for clients.

Traders should not deposit any money that is not disposable. Regardless of how much research you have done, or how confident you are in your trade, there is always a substantial risk of loss. (Learn more from the FCA or from ASIC)

Our Methodology

Our State of the Market Report and Broker Directory are the result of extensive research on over 100 Forex brokers. The explicit goal of these resources is to help traders find the best Forex brokers – and steer them away from the worst ones – with the benefit of accurate and up-to-date information.

With over 150 data points on each broker and over 3000 hours of research and review writing, we believe we have succeeded in our goal. 

In a world where trading conditions and customer support can vary based on where you live, our broker reviews focus on the local trader and give you information about these brokers from your perspective.

All research has been conducted by our in-house team of researchers and writers, gathering information from various company representatives, websites and by sifting through the fine print. Learn more about how we rank brokers

References

Here are the resources that were used to research and write this article.

Featured Brokers

Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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