Top Forex Trading Apps 2022

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Affiliate Disclosure DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

The trading app you use, is your gateway into the markets. You will rely on your trading app to analyze trading charts, and use it to place trades,  Read on to view my shortlist of the best Forex trading apps

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The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Commission-free trading on 3000+ assets
User-friendly proprietary platform with top-level analysis
2
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
High level regulation in multiple jurisdictions
Impressive range of tradeable assets including vanilla options and gold options
68% of retail CFD...
68% of retail CFD accounts lose money
3
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Best social trading platform on the market
Excellent choice of options for crypto traders
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68% of retail CFD accounts lose money
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The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Best ECN execution on the MT4 platform
Excellent implementation of cTrader and Smart Trader Tools

Capital.com

4.5/5 in this category
In Summary
Best choice of cryptocurrencies

Our thoughts: Capital.com offers groundbreaking technology, and it received Investment Trends’ top ratings for Mobile App, Education and Client Satisfaction. Capital.com is excellent all-around.

The Forex trading apps: An in-house trading app; MetaTrader 4; and TradingView.

In-house trading app: Capital.com’s CFD app has an Artificial Intelligence system that spots any deviations in your trading behavior to help prevent cognitive biases. The app has 70 technical indicators, risk-management tools, and you can set price alerts and create watchlists. The app sounds complex, but Capital.com has worked hard to make it clear and intuitive.

Markets and fees: You can access international stocks, indices, commodities, Forex, and cryptocurrencies, with 0% commissions and no hidden fees. Their website has a comparison chart of their spreads and execution speed relative to their competitors.

Regulation: Capital.com is regulated in the UK and Cyprus. It stores client funds in segregated accounts separate from their operations.

AvaTrade

4.5/5 in this category
In Summary
Highly regulated, choice of fixed or floating spreads

Our thoughts: A large broker with over $70 billion in monthly trading, AvaTrade has invested heavily in its trading apps. AvaTrade has earned over 30 awards, and the AvaTradeGO app was voted “Number 1 Best Forex Trading App” by Global Forex Awards. The company also offers Islamic accounts.

The Forex trading apps: MetaTrader 4/5, AvaTradeGO, AvaOptions, and Mac Trading.

AvaTradeGO: With clear charts and intuitive management tools, the app lets you see what other AvaTrade customers are trading to help inform your decisions.

Copy-trading: You can choose from AvaSocial, ZuluTrade and DupliTrade.

AvaOptions: Designed especially for options trading, you can track expiration date, strike price, and implied volatility.

Mac traders: AvaTrade provides a Mac-ready version of MetaTrader 4/5.

Markets and fees: AvaTrade offer trading in Forex, stocks, commodities, cryptocurrencies, and indices. Fees and spreads are on their website.

Regulation: AvaTrade is regulated in multiple countries across the world.

eToro

4.5/5 in this category
In Summary
Best broker for social traders and crypto traders : 68% of retail CFD accounts lose money

Our thoughts: eToro’s mission is to bring traders together. It is a unique broker that brings social and copy-trading services to the masses, and it has developed the leading copy trading tools and community anywhere globally. Today, it boasts 20 million traders. If you want a powerful and easy-to-use interface to find other profitable traders to follow, eToro could be your best option.

The Forex trading apps: eToro offers only an in-house trading app. It has a demo version you can test before using live capital.

Markets and fees: eToro customers can access stocks, crypto, indices, ETFs, commodities, and currencies. The broker has competitive fees and spreads, for example, 0% commission on some stocks.

Regulation: eToro is available in 100+ countries and is licensed by multiple regulators. Check on their site to see if eToro is regulated in your home country.

Pepperstone

4.5/5 in this category
In Summary
Great ECN execution on MT4 platform

Our thoughts: Great for low spreads and quick execution.

The Forex trading apps: MetaTrader 4/5, and cTrader.

cTrader app: The app is designed to replicate institutional trading, including displaying market depth (not available on MetaTrader 4), advanced order types, and the ability to control order fills. Pepperstone has a video course so you can learn how it works.

Copy-trading: Pepperstone has available DupliTrade, MetaTrader Signals and Myfxbook signal copying.

Markets and fees: Pepperstone customers can access Forex, Indices, commodities, stocks, and cryptocurrencies. Pepperstone has a direct market access model without a dealing desk between you and the markets, so you get low spreads and fast fills. Pepperstone offers a wide range of base currencies for your accounts: AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, and HKD.

Regulation: Pepperstone is regulated by the Australian Securities and Investments Commission (ASIC).

 

  • Capital.com - Best Artificial Intelligence.
  • AvaTrade – Best protection technology.
  • eToro - Best app for social and copy trading.
  • Pepperstone - Best app for advanced orders and market depth.

Choosing the Best Trading App 

Choosing the best Forex trading app means knowing which features are important for your trading style. For example, do you want to do your own technical analysis? Then you need technical tools that your trading strategy requires in the trading app. Or do you just want to follow other traders’ signals? In that case, you want a trading app that allows you to find other traders, copy their signals, and monitor their performance in real-time—preferably all directly from your phone. I have put together a list of features that should be important to you in becoming a more successful trader.

  • Clear and intuitive interface:

The aesthetic appeal and intuitiveness of a trading app’s interface are highly subjective, but these qualities matter a great deal. You want to be able to do everything on your trading app with ease, and this will include switching between charts and timeframes, drawing lines, and placing trades. If you find that the trading app has too many multiple steps to carry out these functions, you will burn mental energy just managing the technology. Instead, you want your focus to be on analyzing the markets and executing your trading strategy—the app should make it easy to do that.

  • Watchlists:

The chances are you won’t want to trade every instrument all the time, and you will have your preferred Forex pairs, stocks or cryptos. To monitor them quickly, and help you avoid missing trades, make sure your Forex trading app can create watchlists to group your favorite markets.

  • Technical tools:

Most Forex trading apps contain a core selection of technical analysis indicators, such as moving averages, RSI, Fibonacci, stochastics, bollinger bands, etc. For most traders, the standard selection of indicators available in a Forex trading app is enough for their needs. But there are some technical tools, such as market depth, are only available on certain trading apps. Research the trading apps to make sure they contain the tools you need to execute your trading strategy.

  • Price alerts:

Some Forex trading apps will let you set up audible, text and email alerts when the price or an indicator reaches a certain level. Getting price alerts to your phone or desktop is one of the best ways not to be glued to your screen and not miss trades.

  • Social trading:

“Social trading” covers everything from seeing what other traders are interested in buying or selling to copying other people’s trades on your account. Social trading is now a big part of the Forex industry, with thousands of independent traders offering their analysis and signals to the global trading community. It can potentially accelerate your trading career as you leverage the expertise of others. On the other hand, if used incorrectly, it could hinder your development by stunting your judgment as a trader. Some trading apps make it easy with built-in features to find experts, review their performance and copy their trade automatically onto your account.

  • Ease of deposits & withdrawals:

Some brokers let you deposit and withdraw directly within the trading app, rather than requiring a separate web-based login for deposits & withdrawals, which can be cumbersome.

  • Portability between brokers:

If you tend to change brokers or use multiple brokers, consider a widely accepted Forex trading app like MetaTrader, so you’re not managing multiple types of trading apps. But if you think you’re going to stay with one broker, consider using the trading app developed by the broker itself. A lot of brokers’ trading apps have much more modern interfaces and innovations on features.

Key takeaway: To find out how to compare the best Forex trading apps, start by considering the most important features you need for your trading style. Some features you will need all the time, and some you will never use. Make sure that the features you need are easy to use in the trading app you choose.

The Best Forex Trading Apps for Beginners 

Two choices are usually good for beginners:

  • Broker’s in-house trading app:

The in-house app will have plenty of support and learning videos from the broker, and it can be a great place to start.

  • MetaTrader: This is by far the most popular Forex trading app, and most Forex brokers provide MetaTrader to its clients. There are stacks of resources, for example, video tutorials, chart templates and signal providers. It does not matter where you find help with MetaTrader because it is standardized across Forex trading.

The “Official” Forex Trading App: MetaTrader 

For many years, traders have considered MetaTrader to be something close to an “official” Forex trading app, and it is the world’s most popular Forex trading app/platform by far. Let’s find out what MetaTrader is all about.

  • Why is MetaTrader so popular?

MetaTrader 4 (MT4) was released in 2005 by MetaQuotes Software who licensed MetaTrader 4 to Forex brokers worldwide (like how Microsoft licensed Windows to computer manufacturers globally). As a result, nearly every Forex broker in the world today offers MetaTrader (MT4).

  • Can I use MetaTrader on my phone and desktop?

Yes. MetaTrader 4 (MT4) is available on iOS, Android, and Windows. Some brokers offer a Mac version. There is also a browser-based version of MetaTrader, but most traders prefer the downloadable app version.

  • Can I use MetaTrader for signal copying?

Yes. MetaTrader has a product called “MetaTrader Signals” that showcases thousands of signal providers with their performance statistics. You can get up and running with a signal provider in minutes. There are also many third-party developers that provide access to signals that can be copied directly to your MetaTrader account.

  • Can I use MetaTrader for Technical Analysis?

Yes. MetaTrader has a comprehensive set of technical analysis tools and chart timeframes that should cover almost everyone trader’s needs.

  • What’s good about MetaTrader?

                     Because it is the most popular and standardized Forex trading app, there are lots of resources available that support it. You can find signal services, chart templates, tutorials, and everything else you can imagine. If you change brokers, you can usually stay with MetaTrader instead of having to learn a new trading app.

  • Where does MetaTrader fall short?

           Since MetaTrader’s release in 2005, there hasn’t been much innovation to its features or interface compared to other trading apps developed by Forex brokers.

Key takeaway: MetaTrader will suit most traders’ needs for technical tools and signal copy services. It is easy to learn, and if you change brokers, you can probably stick with MetaTrader and not have to learn a new platform.

Can I Trade Just with My Smartphone? 

Yes, you can. Every Forex trading app has enough functionality to use just on a phone, such as viewing charts, adding indicators, drawing tools, and placing trades. If you are following signals or copying trades, many trading apps will let you do that from your phone, too. Depending on the complexity of your trading, you may want the full-screen experience because it is more comfortable. For example, if you’re doing your own technical analysis and using multiple timeframes, then you may want to use a full monitor, keyboard, and mouse for comfort, even though you could still do it on your phone. But if you’re simply following basic trends on longer timeframes, or copying signals, then a phone should be enough.

Key takeaway: Most Forex trading apps will allow you to do everything from your phone, but sometimes you may want to use a full screen because it is more comfortable.

Forex Trading Apps on Mobile

With thousands of new traders opening accounts and joining the continuously popular fields of Forex and cryptocurrency trading, mobile Forex trading is experiencing a significant growth rate. Some Forex brokers report more than 40% of all executed trades from mobile devices, consisting of phones and tablets. Forex trading on iPhone and Android devices, the operating systems of Apple and Google powering most mobile phones, remains favored among millennial traders and traders from emerging and frontier markets. Microsoft devices account for the bulk of tablets, with Apple and Google increasing their market share. Millennial traders tend to use mobile devices for most of their online activities and seeks uncomplicated operations, preferably by pressing a few buttons. The latter group often lacks the finances to acquire multiple devices and opts for the one that grants the most benefits for most tasks. Therefore, high-powered mobile phones and tablets remain the primary choice over more expensive desktops and laptops.
 

Mobile Forex Trading - Final Thoughts 

  • To build a successful foundation for your trading, find an app that is strong in the features that you need as a trader. Some apps are stronger on technical tools, and others are built for trade copying. Trading apps that serve specific categories, such as options trading or market depth, could help you find market opportunities and take your trading to another level.
  • Some trading apps have been developed by the broker and can’t be used elsewhere. Other trading apps are independent and used by many brokers. Do you think you’re going to switch brokers? Then consider whether you want to use the broker’s app or one that is portable across brokers.
  • An app is just a tool. You still need skill to be a successful trader, or you can copy the signals of a successful trader!
  • Even with the right trading app, you still need a high-quality broker. It should fill your trades quickly with low slippage, be low-cost, and have proper regulation that holds your money in segregated accounts separate from their operations.

FAQs 

What is a Forex app?

A Forex app is a program allowing you to view charts, conduct technical analysis, and place trades with your broker. Most Forex apps are available on Android, iOS, and Windows.

What is the best app for Forex trading?

The best free Forex trading app, especially if you are new to Forex trading, is MetaTrader 4. It is easy to learn and has plenty of technical analysis tools and functionality. Most Forex brokers around the world carry MetaTrader 4 for their clients.

Can you get rich by trading Forex?

There is a history of individual traders getting rich by trading the markets. In most cases, they got there by doing their homework, demo trading first to test and refine their ideas, learning how to control their risk, and developing a strategy.

How can I trade Forex on a mobile phone?

Most trading platforms come as mobile apps, like MT4 and cTrader, market leaders in the Forex industry. Some Forex brokers also developed proprietary mobile trading apps, while FinTech companies began disrupting trading software with their mobile apps.

What is the easiest trading app?

MT4 is the most used trading app, followed by cTrader, but every alternative usually features an easy-to-use interface. It takes beginner traders only a few moments to learn how to use a mobile app.

Is a mobile enough for trading?

While mobile apps offer traders all core functions to trade, they are best suited to monitoring portfolios or modifying social trading set-ups. Long-term trading can be executed easily on a mobile, but shorter-term traders may find it too challenging and prefer a desktop interface.

What app do most traders use?

Most traders use the MT4 mobile app, as most brokers provide it, and it is simple to use. cTrader comes in second, followed by proprietary alternatives developed by Forex brokers.

 
Huzefa Hamid

I’m a trader and manage my own capital. I trade the major Forex pairs, some Futures contracts, and I rely entirely on Technical Analysis to place my trades. Today, I am also a Senior Analyst for DailyForex.com. I began trading the markets in the early 1990s, at the age of sixteen. I had a few hundred British pounds saved up (I grew up in England), with which I was able to open a small account with some help from my Dad. I started my trading journey by buying UK equities that I had read about in the business sections of newspapers. The 1990s were a bull market, so naturally, I made money. I was fortunate enough in my early twenties to have a friend that recommended a Technical Analysis course run by a British trader who emphasized raw chart analysis without indicators. Having this first-principles approach to charts influences how I trade to this day.