15 Best FREE Forex Trading Apps – ( Reviewed ) 2020

Best Free Forex Trading Apps

Best Free Forex Trading Apps

 

According to research in South Africa, selecting the Best FREE Forex Trading Apps that also offer the best trading experience as well as reasonable charges are important factors for a successful Forex portfolio can be a very daunting task. This list provides some insight into the best Forex trading apps available in the Forex market and assesses the key services and features that they provide to Forex traders.

This list is not meant to be a ranking but rather a comprehensive list of good the Best FREE Forex Trading apps currently available in the market today.

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FXTM Review
 

FXTM Trader App

 

FXTM is a fully regulated Forex broker with traders from over 150 countries around the world using its services.

They are popular for their automated trading features, which basically allows their system to automatically trade for you based on the strategy you set. This is beneficial to you if you are unable to watch the markets 24/7.

They are known for providing excellent educational resources for both the beginner and professional trader.

Their mobile app, FXTM Trader, can be used on iOS and Android devices, and let’s you trade over 250 instruments from your mobile or tablet.

It is an all-in-one app so you can do all your trading and access related data from one device. The app is free to download but you will still need to pay for commissions on trades.

The broker also provides MetaTrader 4 and MetaTrader 5 if you prefer to use a platform that you are used to. However, their mobile app gets great reviews from customers, especially with their one-click trading in a matter of milliseconds.

 

Features

 

  • Trade over 250 financial instruments, including major, minor and exotic currency pairs, gold and silver and indices, commodities and CFDs
  • Allows cross-device trading, which means you can open a position on your desktop and close it on your mobile phone
  • Enjoy MyFXTM functions including opening a new account, getting an overview of your accounts, depositing, withdrawing, transferring funds between accounts, and managing your user profile
  • 1-click new demo account (after registration)
  • Easy-to-read trading dashboard with details on balance, margin, profit and more
  • Open, close or modify your position
  • Monitor live currency rates for real-time updates
  • Symbol specifications
  • The latest charts with a huge range of trading tools and instruments
  • Enable 1-click trading for ultimate convenience

Their mobile platform is known to give fast execution speeds when placing trades and is easy to use.

Signing up on FXTM Trader is also relatively easy to do – you just sign up for an account, upload your verification documents and transfer funds.

FXTM is known for their strong customer support and is one of the few brokers with 24/7 support.

 

Pros and Cons

 

Pros Cons
Easy to use Inactivity and withdrawal fees
All-in-one mobile platform High CFD fees
Fast execution of trades Not available in the US
Low Forex fees
Fingerprint access

 

AvaTrade Review Islamic
 

AvaTradeGo App

 

AvaTrade is one of the most respected, oldest and largest online brokerages in the world.

The company has won numerous awards for “Best Customer Support”, “Best Alert System”, “Best Financial Derivative Trading Provider”, and “Best Forex Broker YEAR”.

Their AvaTradeGO app allows you to do social trading by following the best traders from all over the world.

 

Features

 

  • Price alerts and real-time market quotes on popular stocks CFDs
  • Monitor social trends from the trader community
  • One stop shop – Register and deposit directly from the app
  • Over 250 Forex and CFDs trading instruments including the world’s top forex pairs, commodities, stocks, cryptocurrencies and more
  • Up to 30:1 leverage on various instruments
  • Live chat with AvaTrade’s multi-lingual customer support
  • A wide variety of technical tools including Pivots, MACD, RSI and other leading indicators
  • Watch market trends in real-time – exclusive technology to AvaTradeGO
  • A user-friendly dashboard, with intuitive management tools for forex traders, clear charts, and zoom for details

 

Pros and Cons

 

Pros Cons
Quick and Easy to get set up and start trading Only CFDs, Forex and Crypto offered
Free deposit and withdrawal options No split screen mode
No withdrawals fees Technical Analysis is difficult on mobile
Competitive Forex fees Administration fee
Livechat via the App

 

XM.com Review
 

XM

 

XM Group is considered to be one of the brokers in the market with the most extensive experience and in-depth knowledge of the global financial market.  XM Group is a good broker and for beginners there are vast quantities of educational material, market analysis, webinars and seminars held around the world.

XM is also known to offer the best Forex platforms and mobile trading.

With XM you can trade via mobile using their integration to MetaTrader 4 (MT4) and MetaTrader 5 (MT5), enabling clients to trade 1000 instruments through one login.

You can trade Forex, CFDs on shares, futures, indices, metals and energies.

 

Features XM MT4

 

The XM MT4 Trader allows you to access your account on an Android or iOS native application with the same login and password you use to access your account on your PC or Mac.

 

TRADING

  • Real-time quotes of Forex market
  • Full set of trade orders, including pending orders
  • ll types of trade execution
  • Detailed online trading history

 

ADVANCED TRADING

  • Fast switching between financial instruments on charts
  • Sound notifications assisting trading
  • Customizable Forex chart color schemes
  • Trade levels visualizing the prices of pending orders, as well as SL and TP values on the chart
  • Free financial news — dozens of materials daily
  • Chat with any registered MQL5.community trader
  • Support of push notifications from the desktop MetaTrader 4 platform and MQL5.community services
  • Connection with hundreds of Forex Brokers

 

TECHNICAL ANALYSIS

  • Interactive real-time Forex charts with zoom and scroll option
  • 30 of the most popular technical indicators among traders
  • 24 analytical objects: lines, channels, geometric shapes, as well as Gann, Fibonacci and Elliott tools
  • 9 timeframes
  • 3 types of charts

 

Features XM MT5

 

The XM MT5 Trader allows you direct access to your account on an iPhone or Android native application with the same login and password that you also use to access your account on your PC or Mac.

 

TRADING

  • Real-time quotes of Forex & Stock markets
  • Full set of trade orders, including pending orders
  • Level II prices with up to 32 quotes
  • All types of trade execution
  • Detailed online trading history

 

ADVANCED TRADING

  • Fast switching between financial instruments on charts
  • Sound notifications assisting trading
  • Customizable Forex & Stock chart color schemes
  • Trade levels visualizing the prices of pending orders, as well as SL and TP values on the chart
  • Free financial news — dozens of materials daily
  • Chat with any registered MQL5.community trader
  • Support of push notifications from the desktop MetaTrader 5 platform and MQL5.community services
  • Connection with hundreds of Forex & Stock Brokers

 

TECHNICAL ANALYSIS

  • Interactive real-time Forex & Stock charts with zoom and scroll options
  • 30 of the most popular technical indicators among traders
  • 24 analytical objects: lines, channels, geometric shapes, as well as Gann, Fibonacci and Elliott tools
  • 9 timeframes
  • 3 types of charts

 

Users downloading the app for the first time can register and manage their account through the app without needing access to a desktop computer.

 

Pros and Cons

 

Pros Cons
Variety of financial instruments No hedging
Option of MT4 and MT5 mobile trading Might not be the best platform for beginners
Excellent research, tools and news Access to all features will require a purchase
Mobile is easy to use MT5 mobile platform is a bit buggy compared to MT4
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Alpari Review
 

Alpari Mobile

 

Alpari Financial Services Ltd (Alpari) is one of the world’s leading independent Forex brokers that provides online trading services on the international currency market.

There are a few things that make Alpari attractive and unique to both beginner traders and experienced traders alike.

As a beginner, you’ll be able to enjoy access to a free demo account, a micro account, and social trading.

If you’re an experienced trader, not only can you enjoy ECN trading, but you can also make some extra cash by becoming a Strategy Manager. As a Strategy Manager, other traders can copy your trades, and you make a percentage of their earnings

Alpari also offers a variety of account types, advantageous trading conditions, and quality customer service that makes this a good choice for all types of traders.

From the mobile app side, Alpari Mobile integrates with MT4 and MT5 platforms with same features as above.

The most beneficial aspect of Alpari Mobile is the one-click deposits and instant withdrawals, economic events calendar and going straight from analytical reviews to trading.

 

Pros and Cons

 

Pros Cons
Low minimum deposit Limited educational resources
Analyse the market, manage your funds and trade on the mobile app Bugs in MT4
Diverse selection of tradeable assets Lack of resource tools
Demo accounts on mobile
Easy and quick account opening

 

FP Markets Review
 

FP Markets: Iress Mobile

 

FP Markets is a good well-rounded broker that has decent offerings all around.  This combined with great pricing makes them a good choice for all types of traders.

They are also known for their excellent client support over multiple languages and have been awarded “The Highest Overall Client Satisfaction Award” by Investment Trends 2016 Australia CFD Report.

FP Markets in order to elevate your trading experience provides you with Iress platform, a new and improved, comprehensive active trader platform, with advanced functionalities.

 

Features

 

  • View real-time pricing information for individual securities or indexes
  • Access existing watchlists associated with your IRESS login, or build and modify watchlists directly in the app
  • Read company-specific and market related news; scan headlines or read full stories on your device
  • View market movements for an exchange
  • Create, modify and delete all orders associated with your IRESS login
  • Filter orders by date or status
  • View current holdings in your trading account, including open positions and summary information for your portfolio
  • Refresh data at the touch of a button
  • Secure access to the market using your IRESS trading account
  • Access to equity and derivative data for local and global markets
  • Security data and charts
  • News and company reports
  • Portrait and landscape orientation
  • Encrypted passwords and orders

 

Pros and Cons

 

Pros Cons
Great educational tools Issues with some updates of the app
Great customer service Not great performance if you trading CFDs
Encryption on mobile is a big plus
Low Forex fees

GO Markets Review
 

GO Markets

 

GO Markets is a solid broker with lots of features. Go Markets probably fits all kinds of traders whether you are a beginner or experienced trader.

GO Markets offers very low Forex fees, solid analytics and excellent educational tools.

You can be up and running very quickly as both the account opening and depositing is super easy and fast. Additionally, you’ll get many high-quality educational tools ranging from a demo account to e-book.

Overall, GO Markets is an incredibly strong Forex and CFD broker for traders. Great customer service and good spreads make it an attractive option.

GO Markets is a broker that is well worth considering.

 

Features MT4

 

  • Android and iPhone
  • Receive MT4 internal mail
  • Economic calendar and markets news
  • Access up to 30 technical indicators
  • View real-time pricing and execution
  • Open and close positions
  • Place buy/sell orders

 

Features for Android

 

  • Separate app
  • Trade directly from your mobile device
  • Real-time binary options
  • Trade binary options 24/5
  • Access to your full transaction history
  • View all open trades in real-time

 

Pros and Cons

 

Pros Cons
Low minimum deposit and low commissions Binary options only available on Android
Very fast execution of trades Mobile platforms can be a bit buggy at times
Good trading analysis tools on offer
Demo option available

 

IG Group Review
 

IG Trading App

 

IG is one of the most regulated and trusted platforms globally and offers traders an extensive list of tradeable products, excellent research and trading tools, as well as industry-leading educational support, and competitive rates.

This platform’s great all-round experience makes IG one of the best overall brokers in the market today.

You can trade with over 16 000 financial markets via the Mobile App including Forex, shares, indices and commodities.

IG is one of the few platforms that serves traders of all experience levels, whether a beginner or experienced trader.

 

Features

 

  • Access interactive charts – pinch to zoom, swipe to scroll
  • Apply a range of technical indicators and drawings to help identify market movements
  • Search upcoming events and get live Reuters news
  • Respond instantly to market movements with price alerts
  • Keep track of your positions easily
  • Trade CFDs with direct market access
  • Manage your risk with a range of stops and limits
    Keep track of your open positions with ease
  • Trade shares and forex CFDs with direct market access
  • Practise trading the markets without risking your capital using your free demo account
  • Stay on top of financial events with our Reuters newsfeed
  • Use our daily economic calendar to plan your daily strategy

 

Pros and Cons

 

Pros Cons
Access exclusive data and expert analysis day or night Account verification is a bit slow
Very helpful team App is not very user friendly for the first time trader
Excellent educational programs Phone support could be improved
Secure 256-bit SSL encryption technology Spread betting only in the UK
Very good deposit and withdrawal options High stock CFD fees

 

Plus500 Review
 

Plus500

 

Plus500 can be a solid choice for less-experienced traders as the platform is straightforward to figure out and designed to making the trading experience simple throughout.  Less is sometimes more when first starting out in the oftentimes overly complex world of Forex trading.

Plus500 is considered one of Europe’s Best CFDs Trading Platform and offers a free mobile app for download.  Their mobile platform is considered to be one of the best in 2020, offering a full dealing functionality on both Android and iOS devices.

Plus500 CFD share trading app is considered user friendly, simple and intuitive and you can trade leveraged CFDs on stocks, Forex, indices, commodities, ETFs, options and cryptocurrencies.

 

Features

 

  • CFD share trading on the world’s most popular financial instruments with no commissions
  • Buy/Sell CFDs on shares and indexes from the leading stock exchanges
  • Trade CFDs on the most traded instruments worldwide such as S&P 500, EUR/GBP, EUR/USD, Gold, Oil, Silver, Other Shares, Indices and Commodities
  • Attractive Leverage
  • Stock market quotes of popular stocks and indexes reflected in Plus500 quotes.
    Live Quotes for Commodities such as Oil and Gold in real-time
  • Stock exchange-based real time charts and live streaming of Plus500 quotes
  • Trade Cryptocurrency CFDs, including Bitcoin, Ethereum, Litecoin, IOTA
  • Protect your share trading positions by setting stops and limits, including a Guaranteed Stop
  • Easy monitoring of your balance, equity and margin at all times
  • A free unlimited demo account.

 

Pros and Cons

 

Pros Cons
Rated by customers as one of the better apps on the market Lack of depth in research tools
Customer support is responsive Sometimes slow execution of trades experienced (may be due to slow internet speeds)
Listed on the London Stock Exchange May need to get online help if you are a first-time trader
Low trading fees Limited product range.  Only CFD and Forex

 

ThinkMarkets Review
 

ThinkTrader

 

ThinkTrader from ThinkMarkets is an advanced trading tool which combines analytics with an easy to user interface to help you quickly track the best currencies and stocks.

Offering 14 different advanced chart types and integrating intelligence indicators and drawing tools, this platform can help you quickly analyse your target with ease.

Initially only developed for desktop computers, the company realised its potential and developed the platform for mobile devices.

The mobile app comes included with a touch-enabled trade management system as well as split-screen and quad-screen modes, which makes it easy for you to keep your eye on several markets at a time.

 

Features

 

  • Live pricing charts with zoom and scroll options
  • 100 most popular technical indicators
  • 40 analytical objects: lines, channels, geometric shapes, as well as Gann, Fibonacci and Elliott tools
  • 12 timeframes
  • 10 types of charts (receive them even when not online)
  • View up to 4 charts on your mobile screen
  • Multiple order closing at one click
  • Ability to set price alerts
  • Multiple watchlists
  • Trend-Risk Scanner: A powerful trading signals tool that scans the markets for high probability trades
  • In-app deposits and withdrawals available
  • Real time news from FX Wire Pro, one of the most trusted international news agencies

 

Pros and Cons

 

Pros Cons
Easy, fast and straightforward No bonus offers
Trend risk scanner Some charts lag
Variety of technical indicators New version of app takes getting to used to if you used the old one
Free iOS and Android apps Removal of Traders gym feature to back test strategies
More advanced tools compared to MT4 Irritating time wheel

 

ThinkorSwim Review
 

thinkorswim Mobile

 

One of America’s largest mobile Forex trading platforms, thinkorswim from TD Ameritrade offers excellent educational tools to help traders reduce the risks associated with Forex trading.

The company offers commission free stock trading through its mobile app which has a wide range of investment vehicles for trading, trading platforms for stocks and shares as well as Forex.

Information is accessed in a clear and easy-to-read way and if you are new to currency trading this app will help you become better prepared.

 

Features

 

  • Trade stocks, complex options, futures, and forex
  • Create and modify advanced orders and add order conditions quickly and easily
  • Chat with a trading specialist in real-time – even share your screen without ever leaving the app
  • Live stream programming from TD Ameritrade Network for key insights.
  • Practice your trading strategies with real market data using paperMoney®
  • Scan multi-touch charts with hundreds of studies
  • Chart drawings will sync with the thinkorswim platform
  • Glance at the past, take a look at the present, and model the future when you overlay company and economic events
  • Manage and analyze your positions and view your account balances on all linked accounts
  • Track and modify your watchlists, orders and alerts, including saved orders
  • Enhance push notifications with the Watch App

 

Pros and Cons

 

Pros Cons
Excellent educational tools updated regularly Can be overwhelming for Forex
Built by professional traders for traders A bit intimidating
Best live pricing app App looks and feels outdated
Considered a good solid mobile app Beginners will find the app difficult to navigate
A step up from other basic apps
Commission-free stock options

 

Read What is Forex Trading? – A Beginner’s Guide Revealed here

 

TradeStation Review
 

TradeStation

 

TradeStation is a US-based brokerage for the individual and institutional traders in the US and globally.

The company is known for its very advanced tools and technology which makes them perfect for this list, even if it is not a traditional Forex broker.

TradeStation offers stocks, ETFs, futures, options and bonds.  What makes this app so appealing is the power of the variety of software products, including a wide range of indicators, strategies and other innovative apps.

 

Features

 

  • Capitalize on trading opportunities in real time with streaming quotes for stocks, indices, options, futures and cryptocurrencies – all in a single screen view.
  • Be ready to trade your go-to symbols by creating a custom list that sorts and ranks them in real time
  • Select from a list of popular options spread strategies or customize your own spread strategy
  • View up-to-the-second price and volume information across all strikes and expirations
  • Supercharge your analysis by accessing options Greeks from the options chain
  • Monitor market depth and trade from the Matrix
  • Plot your next move by monitoring Bid/Ask sizes other traders can’t see
  • Place and manage orders with a single mouse click directly from the Matrix window
  • Get Mobile Alerts on Price and Volume Swings
  • Analyze Charts with Indicators – Anytime, Anywhere
  • Seize trading opportunities as they occur for stocks, options and futures
  • Select the size, type, routing and duration of your trade in mere seconds
  • Test your trading strategies using a paper trading account on a simulated environment
  • Toggle between accounts to monitor your positions and orders in a single window
  • View your buying power, open/filled/cancelled orders and position status and account balances
  • Link your bank account to make deposits and withdrawals, as well as initiate transfers between TradeStation accounts

 

Pros and Cons

 

Pros Cons
Personalised support Currency ETFs only
Good range of educational tools The app is not functional until money is deposited
Easy to use if you take the classes Not as user friendly as competitors
Commission-free plans on ETFs Not great for beginners
Access to over 2000 exchange-traded funds

 

OctaFX Review South Africa
 

OctaFX Trading App

 

A regulated Forex broker that was founded in 2011, OctaFX will appeal to most traders from both beginners and professionals alike.

Featuring excellent analytical sections and a range of tools that will be useful for trading such as AutoCharist, copy trading and an account monitoring service where you can learn from other successful traders.

They offer both a mobile app for Forex trading and a social copy trading App. For the purposes of this article we will be focusing on the Forex trading app.

The OctaFX Trading App is a full trading account with excellent tools to manage your OctaFX personal profiles, control real, demo and contest accounts, and manage deposits.

As well as controlling your trading accounts and monitoring balance statistics, the OcatFX app has added integrations with trading platforms, so you can start trading quickly and easily.

Choose an account, choose the trading application and access it via OctaFX Trading App Accounts.

 

Features

 

  • Manage your trading accounts
  • Create trading accounts, modify leverage, enable swap-free options, edit and restore passwords
  • Language support: Bengali, Chinese, English, Hindi, Indonesian, Malay, Portuguese, Spanish, Thai
  • Make deposits and withdrawals using the most popular payment options
  • View your detailed overall or account operation history, apply convenient filters to it and cancel your previous deposit
  • Start trading in a compatible trading platform app
  • Top up your demo account
  • View contest statistics and access your contest accounts
  • Activate bonuses and view statistics on active and completed bonuses
  • This lightning-fast new application with an attractive and easy-to-use design will make you fall in love with it from the first tap.
  • Market insights has been integrated into the OctaFX Trading Accounts App so you can monitor the most influential daily news sources, receive trading ideas over the course of the day and observe weekly forecasts and reviews

 

Pros and Cons

 

Pros Cons
Commission free accounts No US clients
Creating account is really easy Excellent contests
Easy to use and great interface Price indicator is a bit slow
Fixed spread accounts Some technical glitches in app, but new updates are added constantly
AutoCharist Bonus conditions are tough
Latest market prices and profit calculator
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XTrend Review
 

XTrend App

 

XTrend was created for use with mobile devices to allow Forex trading on the go and has become popular with European traders.

It is a smart app that is simple to use and has a wealth of features, plus its fun to use.

 

Features

 

  • Deposit as low as $10, no deposit fees.
  • Simple Investment App, user friendly
  • Trade Forex, Gold & Silver, simpler than stocks and futures trading
  • Low investment is convenient, the benefits are obvious, and it’s very popular with investors
  • “Test our App coupon” $200 coupon is provided, trade with 0 risks.
  • Trading Reports – a trading guide
  • Simplified margin requirement
  • Tight spreads, lower than 1 pip.
  • Offers “Close out” option [stop out] per individual trading
  • Market Alert: set your own trading levels with technical indicators and get notified when your selected asset reaches your interested market price
  • Earn Credit by giving “likes”, “shares”, “comments”, signing in the app every day
  • The more Growth Points you earn the more discount on the Loyalty Store you get
  • Forex forum: Join the Xtrend Community and be part of a Social Trading network where your selected asset reaches your interested market price.
  • Traders’Ranking: Share your overall performance level within our XTrend Social Trading network

 

Pros and Cons

 

Pros Cons
100% secure transactions Customer service response is slow
Social trading network Verification and signup are problematic
Tight spreads lower than 1 pip Problems with withdrawals
Suitable for beginners and professional traders
Loyalty points

 

XTB Review
 

XTB xStation Mobile

 

XTB is a leader in the Forex trading space offering reasonable trading conditions, as well as fantastic educational and analytics material.

XTB has also developed an award-winning proprietary trading platform that goes beyond MT4 to offer their clients an easy-to-use functionality along with faster execution speeds.

The xStation mobile app is very well designed and friendly to use, with a superb search function allowing you to find products or browse different categories.

With alerts you get notified of prices and important market news, one of the huge benefits of any mobile trading app.

 

Features

 

  • View different charts types, 10+ indicators, technical analysis and drawing tools.
  • Trader’s calculator including pip value, margin and your risk exposure
  • Price alerts when the market hits specific price levels set by you
  • The latest breaking news and professional market analyses by in house research team
  • Economic calendar to stay on top of all macroeconomic events of the day, week and month
  • Market sentiment: follow how XTB’s clients around the world position themselves on individual markets
  • Customisable features such as switch between dark and light mode, show positions on the charts, and more
  • Make a deposit instantly and transfer funds between sub-accounts within XTB, or withdraw funds to your personal bank account

 

Pros and Cons

 

Pros Cons
Low Forex and stock index CFD fees High fee for stock CFD
Easy to use Could add more indicators
Low spreads Limited product portfolio, mostly CFD and FX
Free and fast deposit and withdrawal in the app Slow email support
Easy and fast account opening Some graphics are too small in news feed
Online Trading Academy and extensive video library
In app chat mode

 

NetDania Review
 

NetDania Stock & Forex Trader

 

NetDania stock and Forex trading app provide you with an overview of the financial market, includes price quotes for popular cryptocurrencies in real time.

It includes 20,000 financial instruments and more than 2,200 currency pairs, delivers real time news, customised trading alerts an economic calendar and six types of charts.

All of these features combine to give Forex traders a comprehensive understanding of the current market and is available for both iOS and Android.

This app includes the world’s most traded instruments and is delivered by Trading Central. All you need to do to get free access is create a demo or live trading account with FXCM or InterTrader.

 

Features

 

  • Bitcoin price in real-time. Follow Bitcoin around the clock
  • Real-time trading ideas and strategies with target, stop and limit.
  • Synchronization with NetDania NetStation for desktop
  • Free demo trading accounts with multiple brokers
  • 2,200+ currency pairs
  • Global overview in seconds
  • Real-time streaming tick by tick quotes
  • Low latency Interbank FX rates from Top 0 liquidity providers
  • Real-time stock indices
  • US Dollar Index, Oil, Gold, Silver, Platinum, Palladium, Copper etc.
  • Sharing and synchronization between devices and desktop
  • Push notifications on breaking news and major economic events
  • Use pre-build local menu or make your own menu
  • Real-time News and Economic calendar
  • Compose news streams from preferred news sources
  • Unlimited number of Watch lists
  • Set alerts on any instrument
  • Best charting for phones and tablets
  • Create simple or complex algorithms using combinations of studies and pattern recognition. No programming skills are required
  • 100+ studies and patterns
  • Trade from Chart: place market orders, pending orders and OCO orders
  • 27 different time scales
  • Trend-lines, Parallel lines, Fibonaccis
  • Set alerts on studies and trend-lines and receive them as push notifications and on e-mail when triggered.
  • Share charts on e-mail, Facebook, Twitter and Instagram
  • 300+ news sources
  • Research and forecast from 50+ financial institutions, e.g. on EUR/USD, USD/JPY
  • News and indicators from 100+ countries
  • Real-time economic calendar with historical charts and description

 

Pros and Cons

 

Pros Cons
Excellent speeds Can be overwhelming for some
Great features for a free App Paid version is expensive
Ability to build algorithms and set alerts

No programming skills are required

 

Beginners might require some additional knowledge
Excellent technical analysis Updates affect user experience
Great financial news and Forex calendar Ads are annoying

 

Read 20 Lowest Spread Forex Brokers here

 

In conclusion

 

Todays mobile apps have become the easy way to access services such as banking, ordering a taxi, booking travel arrangements, shopping and so on.

Research indicates that over 5 billion people have mobile devices, and over half of those are using a smartphone. So, it is inevitable that services in the world of Forex trading would be conducted via an app as well.

Forex Trading Apps are used for a variety of things:

  • Getting market data and news
  • Learning how to trade Forex
  • Forex trading
  • Accessing charts and trading patterns
  • Sourcing trading ideas

 

Remember that the quality things in life always come with a price attached to it. While the app is free to download you will still have to pay other broker fees.

Free does not always mean the best.

In the context of this article we looked at the free apps you can download and use for Forex trading, however there are still fees you will incur on spreads or commissions.

Most Forex traders offer a mobile platform. With some Forex traders you will use their desktop trading platform to trade but add on features can be accessed via your mobile.

Other companies have the same services on their web platform and mobile so you would not need to switch between them.

The consensus seems to be that mobile apps are mostly used for complementary tools, however as more demand is placed on providers for robust and secure apps that will change.

The most common concern for you to consider when using an app is the issue of security and speed of trading.

When you are dealing with vital data related to your Forex trade account which includes banking details; monitoring trade positions; giving buy or sell orders and so on, you need to be sure of the security measures taken by the company who owns the app.

Do not take security as a given fact, especially if you decide to use any app.

Implementing proper security measures is something the Forex Broker, or Company supplying the app, needs to do consistently.

Having examined the various apps on the market a common concern is in the execution speeds, slow execution is an issue you will face with many brokers so it is worth giving your top three brokers a try before settling on the right one for you.

In this article we looked at the best free forex trading apps on the market as well as which ones we believe are worth investigating further, according to research in South Africa.

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Frequently Asked Questions

 

Which app is the best for forex trading?

See the list of 15 Best Free Forex trading apps on SAShares website here

Can I trade forex on my phone?

Yes, with a smartphone and stable internet connection.

Does forex have an app?

Yes.

What is a trading app?

In essence, a mini version of a full-fledged trading platform on your smartphone

What is the best trading app for beginners?

Robinhood is very popular among beginner traders.



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