Best Mobile Forex Trading Brokers 2021

Advertiser Disclosure
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.

If you do not want to sit in front of a computer all day – and who does? – you are going to need a broker with a good mobile device trading app. We have researched hundreds of Forex brokers to identify the best mobile Forex trading offers open to you and present our list of top choices below.

1
Markets.com
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.
Marketsi strategy builder helps traders trade smarter
Competitive trade execution with low slippage
2
FXTM
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 all around broker
High floating leverage + fast execution
3
eToro
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
4
AvaTrade
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
5
FXCM
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.
No dealing desk execution + wide range of trading apps

Markets.com, Excellent educational offerings.
FXTM, Best all-around: high floating leverage + fast execution.
eToro, Best broker for social traders and crypto traders : 75% of retail CFD accounts lose money.
AvaTrade, Highly regulated, choice of fixed or floating spreads.
FXCM, No dealing desk execution + wide range of trading apps.

Markets.com

5.0/5 in this category
In Summary
Excellent educational offerings

Markets.com, part of UK-publicly listed and FTSE 250 constituent Playtech PLC, offers traders one of the most trusted, secure, and competitive brokers. It operates four subsidiaries regulated in the UK, Cyprus, Australia, and the British Virgin Islands. Markets.com serves traders via Marketsx and investors through Marketsi. Besides its proprietary trading platform, Markets.com deploys the MT4 and MT5 trading platforms. Traders also have access to fourteen quality trading tools, consisting of sentiment, technical, and fundamental indicators. They provide clients of Markets.com with a notable competitive advantage.

Unique Features

Headquarters

Cyprus

Year Founded

2008

Type of Broker

Market Maker

Minimum Deposit

$100

Maximum Leverage

1:300

Another benefit at Markets.com remains its asset selection. Forex traders have a choice of 67 currency pairs and 25 cryptocurrency pairs. Equity traders get access to over 2,000 equity CFDs, 60 ETFs, and 40 index CFDs. Completing the selection are 28 commodities, 13 in-house created blends (in-house thematic portfolios), and four bonds. Markets.com also provides Forex traders with one of the best commission-free cost structures starting from 0.6 pips on the EUR/USD currency pair. It translates into $6.00 per lot or $12 per round lot. Equity traders pay a fixed commission of $10 or a currency equivalent per side for a total cost of $20 per trade. Other noteworthy advantages include the personalized financial live-stream service XRay, its Investment Strategy Builder, its outstanding order execution statistics, and its transparency.

 

Markets Pros & Cons

Advantages

  • Very Competitive Forex Fees

  • Very Wide Choice of Assets

  • Choice of Trading Platforms

  • Excellent Customer Support

Disadvantages

  • Commodities and Indices Fees Higher than Forex Fees

FXTM

5.0/5 in this category
In Summary
Best all-around: high floating leverage + fast execution

We have made FXTM our top-rated broker because in addition to its lengthy track record, it enjoys a very high level of regulation and reputation, and it offers a highly competitive fee structure which tends to keep down the cost of trading.

Unique Features

Headquarters

Cyprus

Regulation

CySEC, FCA, FSC, CMA

Year Founded

2011

Type of Broker

Instant/Market Execution

Minimum Deposit

$50

Maximum Leverage

Flexible

Type of Platform

MetaTrader 4, MetaTrader 5

FXTM, or “ForexTime”, has been around for a long time: they were founded in 2011. Recent years have seen them continue to steadily expand their business, and they are well- regulated by the U.K., Cyprus, Mauritius, and South Africa. The brand is owned by private companies incorporated in the U.K., Cyprus, and Mauritius. Customers of FXTM have access to more than 57 Forex currency pairs and crosses, precious metals, the major energies, equity indices, big cryptocurrencies, and a few individual American stocks. Talking of stocks, FXTM are quite unique in the area of trading stocks, as they enable direct trading through real legal ownership, not just wrapped as CFDs like almost every other similar brokerage offers.

FXTM offers traders a choice between two of the most popular execution models: customers may open either an ECN-type account, or one that trades by “straight-through processing”. Clients have a straight choice between two trading platforms, with both MetaTrader 4 and MetaTrader 5 on offer.

Through their Mauritius regulator, FXTM offer leverage as high as 1000 to 1. In the U.K. and Cyprus, they are limited by law from offering more than 30 to 1.

If you are looking for a broker with a good copy trading program, it is worth taking a serious look at FXTM’s “FXTM Invest” copy trading program.

FXTM Pros & Cons

Advantages

  • Excellent client deposit protection

  • Low minimum deposit

  • Free MT4 add-ons and VPS hosting

  • Good educational tools

Disadvantages

  • No cryptocurrencies or exotic currencies

  • Low leverage for retail traders

  • Internal withdrawal fees and an inactivity fee

eToro

5.0/5 in this category
In Summary
Best broker for social traders and crypto traders : 75% of retail CFD accounts lose money

eToro was founded in the early days of the online retail Forex era, in 2007 – this broker occupies a unique space as the king of social and copy trading. eToro has a long track record and unique reputation to protect, although this image is more focused on its copy trading model than on any other individual feature, except maybe its special relationship with cryptocurrencies. 

Unique Features

Headquarters

Cyprus

Regulation

CySEC, FCA, ASIC

Year Founded

2007

Type of Broker

Market Maker

Minimum Deposit

$200

Maximum Leverage

1:30

Type of Platform

Proprietary platform

eToro is regulated in Cyprus, the U.K., Australia, and the United States although its U.S. offering is firmly differentiated from its offering to the rest of the world.  

eToro guarantees several benefits to anyone opening an Islamic account: no rollover interest or commissions on any trade contracts lasting for longer than 24 hours will be charged, and no commissions or fees are charged to Islamic accounts for account management. Notably, interest-free leverage is also offered to Islamic account holders. 

eToro is a leading cryptocurrencies CFD broker. Following its 2019 acquisition of Danish blockchain company Firmo and Belgian crypto portfolio tracker application Delta, it released its cryptocurrency wallet for mobile devices. The proprietary sentiment indicator for digital assets based on Twitter activity presents a social trading tool millennials favor.

eToro Pros & Cons

Advantages

  • Excellent equity asset selection and broad cryptocurrency choices

  • Cryptocurrency wallet for Android and iOS

  • Twitter-based digital asset sentiment indicator

  • Simple social trading procedure

Disadvantages

  • Below average educational resources

  • Internal withdrawal fees plus higher core trading costs

  • MT4 trading platform not supported

  • Low leverage and higher minimum deposit

AvaTrade

5.0/5 in this category
In Summary
Highly regulated, choice of fixed or floating spreads

AvaTrade was founded in 2006 in Dublin, Ireland. They are one of the largest and most famous Forex / CFD brokers in the world and became well-known for offering their clients a choice of fixed or floating spread cost of trading models. They enjoy an extremely high and strong level of regulation, making them a favorite for traders who are extremely nervous about the security of their deposit, which in Ireland can be protected by a strong investor deposit protection provision. AvaTrade is directly regulated in Ireland (and by extension, the European Union), Australia, Japan, South Africa, and the British Virgin Islands. Outside the European Union, Ava’s maximum leverage offered runs as high as 400 to 1.

Unique Features

Headquarters

Ireland

Year Founded

2006

Type of Broker

ECN/STP

Minimum Deposit

$100

Maximum Leverage

1:400

Type of Platform

MetaTrader 4, MetaTrader 5, Proprietary platform, Web-based

In addition to their longevity and safe reputation, clients know that through AvaTrade they have access to a broad range of asset classes through which diversification can be achieved successfully: AvaTrade offers trading in over 55 different Forex currency pairs, 17 commodities, 20 equity indices, 14 cryptocurrencies, plus 66 individual stocks and shares. Even better, and unusually, 2 bonds and 6 ETFs are also on the menu. The diversity offered here stands out.

Whether you are located within the European Union or not, all branches of AvaTrade will offer you negative balance protection, above and beyond what is mandated by the law. This means that under no circumstances will any client of AvaTrade ever be held liable by the firm for an amount larger than their deposit.

 

AvaTrade Pros & Cons

Advantages

  • Well-regulated globally, with the Bank of Ireland, the primary regulator

  • Low minimum deposit and in-depth educational tools

  • Wide asset choice across seven sectors

  • Superior mobile trading platform

Disadvantages

  • Low leverage for retail traders

  • High quarterly inactivity fee

  • Unacceptable cost for AvaProtect

FXCM

4.5/5 in this category
In Summary
No dealing desk execution + wide range of trading apps

FXCM is a UK-based broker since 2015 after a forced relocation from the US, where it catered to clients since 1999. Since its acquisition by Leucadia in 2015, part of US publicly listed merchant bank Jefferies Financial Group, FXCM embarked on an impressive turnaround. Clients have access to the MT4 trading platform, its proprietary Trading Station, newly added automated trading platform Capitalise, social trading market-leader ZuluTrade, and eight specialty trading platforms for algorithmic traders. It remains one of the most impressive and competitive selections among all brokers. With a minimum deposit of just $50, FXCM remains accessible to all types of traders.

Unique Features

Headquarters

United Kingdom

Regulation

FCA, ASIC, FSCA

Year Founded

1999

Type of Broker

No Dealing Desk, Dealing Desk

Minimum Deposit

£300

Maximum Leverage

1:30

Type of Platform

MetaTrader 4, Proprietary platform, Web-based

Asset selection is compact. FXCM maintains just 40 currency pairs, seven cryptocurrency pairs, and eleven commodities. Equity traders get 100+ CFDs from the US, the UK, the EU, and Hong Kong, plus fifteen index CFDs. Completing the list are a handful of in-house created Forex and equity baskets based on themes and one bond CFD. FXCM does offer active traders a competitive pricing environment with a volume-based rebate program. The superior execution statistics at FXCM add another distinct advantage to the overall trading environment

FXCM Pros & Cons

Advantages

  • Superior trading platform selection for dedicated automated trading solutions

  • A five-tier volume-based compensation program plus superb trade execution

  • Low minimum deposit, high leverage, and VPS hosting

  • Excellent education and research via FXCM Plus and superior trading tool Capitalise AI

Disadvantages

  • Above-average cost structure in the commission-free account

  • Limited asset selection

Forex Trading 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.

Best Mobile Forex Trading App

All Forex brokers offering the MT4, the MT5, and the cTrader trading platforms provide them as mobile apps to satisfy demand. All three present an acceptable choice and feature most functions available in the desktop or web-based versions. Brokers who seek a leadership position in mobile Forex trading invest heavily in the research and development of proprietary mobile trading platforms. It results in notably better mobile trading platforms, and traders who wish to rely on mobile devices for trading should consider Forex brokers who grant them an edge with in-house developed trading software.

Before traders jump into mobile Forex trading, it is crucial to distinguish between mobile phones and tablets. While both have the computing power to run trading platforms, the former is unsuitable for analyzing financial markets, despite the available tools. The small screen size represents the most significant drawback and is why most profitable traders do not use mobile apps to monitor portfolios while on the go. Mobile phones provide copy traders and social traders with enough to engage in either activity, which is also among the highest growing sectors among millennials. It goes hand in hand with mobile Forex trading. Tablets with adequate screen sizes and support for keyboards are the best solution for traders seeking high mobility with complete functionality.

There is a space for mobile Forex trading, especially for traders who understand the benefits and the disadvantages of mobile devices. Mobile devices are ideal for traders who conduct their analysis on a suitable device and use mobile apps to monitor portfolios while on the go. The mobile app syncs with the desktop version, allowing for an uninterrupted trading experience. They also serve copy traders and social traders well. The best mobile Forex trading platform also includes educational content for beginner traders.

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.