Forex trading involves the purchase and sale of currencies in the international foreign exchange marketplace. This market stands as the world’s biggest and most fluid financial arena, boasting an average daily volume exceeding $6 trillion. Individuals engage in forex trading for several reasons, including hedging, speculating, arbitraging, or diversifying.
To help you choose the best forex trading app, we have compiled a list of the popular apps based on various criteria, such as features, performance, fees, customer support, and reputation. Here are the top 5 apps that offer low charges for subscribers:
5 Best Forex Trading Apps of 2024
- IG – IG Trading app, MetaTrader mobile
- TD Ameritrade – thinkorswim app
- Interactive Brokers – IMPACT app, IBKR mobile app
- FOREX.com – FOREX.com mobile, MetaTrader mobile
- City Index – City Index mobile, MetaTrader mobile
#1 Mobile App – IG’s IG Trading app
| Company | Overall Rating | Minimum Deposit | Average Spread EUR/USD – Standard | Mobile Charting – Indicators / Studies | Visit Site |
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£250.00 | 0.98 | 33 | Visit Site
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I’ve been reviewing IG for over six years, and I continue to be impressed by IG’s powerful suite of mobile applications for everyday forex traders. IG’s flagship mobile forex trading app, IG Trading, won our 2024 Annual Award for #1 Mobile App. I find the IG Trading app to be easy to use and jam-packed with powerful features and intuitive trading tools.
IG Trading’s intuitive layout makes it a breeze to navigate between features such as alerts, sentiment readings, trading signals, and highly advanced charts. The app delivers dozens of technical indicators and five distinct chart types. Setting up charts is easy, and zooming in and out across time frames feels quick and precise. IG provides my favorite mobile charts in the industry and IG Trading is a great choice for charting enthusiasts who want to conduct market analysis on the go.
IG also offers the popular MetaTrader 4 (MT4) app for traders who prefer the MetaTrader experience. Traders at IG also gain access to IG Academy, the broker’s standalone educational app. IG Academy features eight interactive courses organized by experience level, each containing nearly a dozen chapters.
How to compare the best forex trading apps
When choosing a new forex broker account for online trading, consider these five areas of the trading experience:
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- Trust (regulatory status): You want a broker that you can trust, above all else. Your broker will preferably be regulated in multiple top-tier jurisdictions, such as the U.S., U.K., Australia, Singapore, Canada, Hong Kong, Japan, or Switzerland. At ForexBrokers.com, we track over 250 regulatory licenses for 60+ forex brokers; learn more by checking out our Trust Score page.
- Trading platforms: Our research finds that most proprietary platforms are superior to third-party software like MetaTrader. Either way, be sure to select the trading platform that meets your needs across devices, whether that’s on the web, your desktop, or with a mobile trading app.
- Trading tools: When I evaluate the research content, trading tools, and educational materials available from brokers, I expect them to be rich with features and easy to use. The more comprehensive each category is within the mobile app you choose, the better off you will be in maximizing trading opportunities.
- Tradeable markets: Consider the total available markets and the number of instruments that are available for you to trade at a given broker. For example, one broker may offer a small selection of currency pairs but a vast array of CFDs on other markets like stocks, commodities, ETFs, futures, cryptocurrency, and other asset classes. Conversely, maybe you want to trade some exotic currencies and want a broker with a larger selection of forex pairs.
- Demo accounts: Opening a free demo account allows you to learn the ins and outs of a trading app, like test-driving a car before you buy it. You get to use the virtual account across all supported devices, such as web, desktop, and mobile. If the platform meets your needs, then you can fund a live account. Some traders also use demo accounts to test various trading strategies before trying them out with real funds.