Best Forex Trading App For Android

Best Forex Trading App For Android – 68% of retail investor accounts lose money when trading CFDs with this provider. 68% of retail investor accounts lose money when trading CFDs with this provider.X

If you want to buy and sell currencies, you will need to find a suitable broker that offers a native forex trading application. In doing so, you will be able to access the foreign exchange markets 24/7 – no matter where you are.

Best Forex Trading App For Android

This means you can enter buy and sell positions with the click of a button. Depending on the provider chosen, you may have access to technical and fundamental research tools, deposit and withdrawal facilities, and the ability to set up real-time price alerts.

Forex Trading For Non Experts

In this guide, we explore the best forex trading apps for 2022. Our review process looks at various metrics – such as regulation, trading commissions, supported pairs, payments and customer support.

According to our findings, below you will find the top 10 forex trading apps for iPhone and Android. You will find a detailed overview of each application further on this page.

With hundreds of forex trading apps active on the market, finding the one that best meets your needs can be a challenge. For example, you should look at the types of currency pairs the app hosts, trading fees and commissions. And whether your preferred payment method is supported or not.

To help point you in the right direction, we’ve listed the best forex trading apps for 2022 below. Whether you’re looking for the best forex trading app for Android or the best forex trading app for iPhone, we’ve got you covered.

The 17 Best Day Trading App For Stock Market In 2022

EToro has quickly made a name for itself in the online brokerage scene. Launched recently in 2007, the platform now serves over 12 million merchants from different countries. Although the broker is best known for its stocks and shares, eToro is involved in a number of other asset classes. This includes indices, ETFs, cryptocurrencies, commodities and of course – forex.

Each asset can be traded online or through the eToro app. You can download the app for free from the eToro website and it is compatible with iOS and Android phones. In terms of its currency options, eToro gives you access to dozens of pairs. This includes most majors and minors. In addition to several emerging currencies such as the South African rand and the Turkish lira. Best of all, all currency pairs offered by eToro can be traded commission-free. Since eToro supports over 45 currency pairs, this discount broker is popular among day traders as one of the best low-fee day trading apps.

The eToro app is potentially more suitable for novice traders, as the broker offers a simple and clean interface. Furthermore, the app comes with a feature that allows you to mirror the buy and sell positions of an experienced forex trader. This effectively allows you to trade full time passively. The eToro app allows you to open an account in minutes and requires a minimum deposit of $50.

You can apply leverage to all forex positions, although your limits will be determined by your location and account type. For example, UK and European traders will be limited to leverage of 1:30 on the majors and 1:20 on all other currency pairs. In terms of security, the eToro forex trading application is regulated by the Financial Conduct Authority (UK), CySEC (Cyprus) and ASIC (Australia). UK traders, in particular, will benefit from the protection of the FSCS. This covers your account balance up to the first £85,000.

Best Trading Apps In Uk Reviewed 2023

If you want to learn more about eToro, you can check out our eToro app review for a more detailed look at what this broker has to offer.

Plus500 is a trusted online brokerage firm that gives you access to thousands of financial instruments – all in the form of CFDs. This covers every investment class imaginable – including but not limited to stocks, indices, ETFs and options. Crucially, Plus500 also offers a full-fledged forex trading facility.

In fact, the platform gives you access to a plethora of trading pairs across the majors, minors and exotics. Best of all, the Plus500 trading platform is available both online and through a native application. The latter is available on both iOS and Android devices – which can be downloaded for free. Once you’ve loaded the app, you can open a Plus500 account in minutes and get started with a minimum deposit of just £100.

In terms of fees, Plus500 does not charge any trading commissions. Spreads are also very competitive, meaning you can keep your forex trading costs to a minimum. Plus500 does not charge any deposit or withdrawal fees either. With that, you will have to pay a small currency conversion fee of up to 0.5%. This is applicable when you are trading an asset whose prices are in a currency other than your own. For example, if you are in the UK based on a USD/JPY trade, then the fee will kick in.

Forex.com Mobile Apps

We should also note that Plus500 offers leverage opportunities for all account users. Again, ESMA restrictions will apply to UK and European traders. Those based elsewhere – in addition to professional customers – will be offered much higher limits. Finally, you don’t have to worry about security when using the Plus500 CFD trading app. Crucially, Plus500UK Ltd is authorized and regulated by the Financial Conduct Authority (#509909). If you are based outside the UK, you will fall under the scope of an alternative regulatory body.

If you want to combine the benefits of forex trading with real-time investment news, look no further than Forex.com. The online currency trading specialist offers a huge library of pairs – all accessible via the mobile app. Once again, this covers both iOS and Android devices. All major and minor pairs are covered, along with dozens of exotics.

In terms of pricing, this will depend on the Forex.com account you open. For example, a standard account allows you to trade forex through the mobile application without commission. But the Commission account will cost you $5 per standard lot. Although you will pay this on both ends of the trade, you will benefit from the tighter spreads.

In terms of research tools, the Forex.com app is extremely strong when it comes to the basics. This is because you will have access to economic and financial news throughout the day. You’ll also have access to an economic calendar and market insights from the app’s global research team. If you like the sound of Forex.com, the app allows you to deposit funds by debit/credit card ($100 minimum) or bank wire (no minimum). No fees apply.

Forex Trading Examples

IG is the market leader in the UK brokerage scene. Launched way back in 1974, the firm is a publicly traded company with hundreds of thousands of traders under its belt. In addition to traditional stock trading and CFD trading, IG is also home to a fully-fledged forex department. This includes over 90+ individual pairs, so there is a currency market to suit traders of all shapes and sizes.

Of course, you can access the IG trading suite online or through its mobile app. The latter is compatible with Android and iOS devices. All buy and sell positions come commission free when you trade forex through the app, which is great. With more than 17,000 instruments hosted by the broker, you can also trade stocks, cryptocurrencies, commodities, bonds and more.

The IG forex trading app comes with a range of features. This includes advanced chart reading tools and real-time price alerts. You’ll receive up-to-date news directly through the app, which includes a dedicated Reuters live feed. Leverage facilities are available on all supported currency pairs of the application. Your limits will be dictated by your location and trading status. You will need to deposit at least £250 to use the IG app. The broker is regulated by the Financial Conduct Authority and ASIC, along with a number of other licensing bodies.

FXMC is an online brokerage site that offers a plethora of asset classes. In addition to CFDs in the form of stocks, commodities, indices and digital currencies, you can also trade foreign exchange. A good selection of majors and minors are supported, as well as exotics such as the Mexican peso and the South African rand.

Must Have Forex Trading Apps In 2023

One of the main attractions of using the FXCM forex trading app is that you can choose from several platforms. This includes the very popular MetaTrader 4 (MT4), ZuluTrade and the FXCM trading station. You can also integrate TradingView into your account, which is great for advanced chart analysis and research. In particular, MT4 will suit those of you who plan to engage in automated strategies.

This is because you can install a forex robot (also called an EA) directly on the platform, which will then buy and sell currencies on your behalf. To do this, you will first need to install the system through your desktop device. After that, you can monitor and customize your forex robot trading through the app. In terms of specifics, all the above applications are available