Best Forex Trading Apps 2021
As per our findings, below you will find the top 10 forex trading apps for iPhone and Android. You’ll find a detailed overview of each app further down on this page.
Top 10 Forex Trading Apps
eToro: Best all-around forex trading app. Commission-free trading and dozens of currency pairs.
Plus500: Benefit from 0% commission trading at a heavily regulated broker. 72% of retail CFD accounts lose money
Capital.com: Best forex trading app for beginners. No commission on any of its forex pairs.
Forex.com: Best forex trading app for US residents.
IG: Trusted UK brokerage firm launched in 1974. 0% commissions when trading forex.
FXCM: Useful forex trading that is compatible with MetaTrader 4.
FXTM: Forex trading app that allows you to deposit from just £/$ 10. Great for first-timers.
Trading212: Super-clean forex trading app for UK residents. No commissions and tight spreads.
AvaTrade: Established forex trading app with support for MetaTrader 4. Great for seasoned traders.
24Option: Best forex trading app for Europeans. Leverage facilities for all traders.
AS A TRADER, WHY DO I NEED FOREX TRADING APP?
With the advancement in technology nowadays, there are apps for everything. You will find apps for weddings, directions, finding coupons among many other apps. The trend has also since been adopted and incorporated in the finance industry as well since it has proved to be amazingly effective and efficient for the forex traders. You can manage all your investments, budget and most importantly even forex trades through using the various apps available. Getting the forex trading app that will suit you best will depend on what you are looking to achieve as a trader. You need to find the best app and the most suitable forex trading app since there are assorted options to choose from. Forex applications, especially for Android phones and iPhones, have increased in popularity over the past years. These apps help you and make it easy for the forex traders to analyze currencies, access real-time data and place orders of trades any time of the day from anywhere. Most of these forex trading apps can be easily accessed by downloading them in their respective app stores. The good news also is they can be used on various hardware devices. The availability of these different financial apps in the market has proliferated recently making it much easier than before to get any real-time updates on forex and making it very convenient since traders can trade from the comfort of their home. The major currencies pairs in the forex trading worlds are extremely volatile, active, and event-driven making them vulnerable to any economic news announcement that could occur within a regular 24-hour trading day. The experienced and active currency traders usually like being able to access chats, quotes, market news and their trading accounts from anywhere and at their fingertips all the time. This is the major reason the software applications have become extremely popular among forex traders. All popular forex brokers have mobile applications that they offer their clients. There are some of the individual broker apps that are so popular to the extent that traders without accounts with the broker still use the apps. Some of the most popular forex trading apps usually offer easy and free access to price quotes, news, and charting.
Types Of Apps
Forex trading apps are available for a range of the activities required to be a successful forex trader.
Traders need to have a platform to interact with the markets, buying and selling currency pairs with the objective of making the biggest profits possible.
They may also need educational tools to learn their craft and continue their professional development for the long term.
Global news developments are important, because they have a huge impact on the value fluctuations of currencies all around the world.
The analysis of trends and statistics is also absolutely essential, with the thoughts and advice of experts and peers needed to help give insights and perspective on everything that happens.
When deciding on the ‘best’ forex app, each trader will need to identify the most important features for their own trading.
These are the bread and butter of the mobile forex trader. Whatever broker you work with, and whatever platform you use, it is almost guaranteed that you will be able to trade forex on mobile devices.
The trading experience on mobile is not always as fully-featured or effective as the desktop version, but it can be very useful for keeping track of your positions and closing out trades.
The vast majority of modern traders will make use of mobile trading apps, but the professionals will focus their main trading work on desktop devices. Nevertheless, there are those who only trade through mobile platforms, and every broker will offer them to accommodate the needs of different types of trader.
These are a popular resource for mobile devices, and may be used even more than trading apps.
When you are actively trading, you will need to be paying attention to your trading strategy. This involves running through analysis and checking charts to develop different approaches to the market, and all the good work you do on your mobile can be put to use when you get back to your desk.
These are invaluable tools, and many of them are just as good as anything you will find for your desktop.
Apps have advanced features and can be very easy to interact with thanks to the way mobile devices work, so it’s no surprise they have become the primary source of market analysis for many modern traders.
Market News / Event Calendar
It is always useful to stay abreast of all the news that is relevant to the forex market, whether you are at your desk or on the move.
By keeping a watchful eye on live data feeds and key market news, particularly if you have an open trade in progress, you can make informed decisions and strategise more effectively.
Generic news apps often have sections for economic or financial news bulletins, but apps which are specially designed for this type of news are likely to have more features for you to sink your teeth into.
They also offer more in-depth and comprehensive news, and may even incorporate analysis alongside news to help you interpret the latest developments.
Demo Or Practise Apps
The majority of traders who are just starting out are trading around their day job. This means they simply don’t have enough hours in the day to sit at the desktop honing their trading skills. Apps designed for beginners include things like live demo accounts with dynamic markets that can be interacted with on your mobile phone. They also involve comprehensive market tutorials and plenty of other materials to keep learners busy and educate them as they travel.
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