Mobile apps are a modern solution for trading in financial markets. They can be used to work at any place and any device: a smartphone, tablet, etc. However, it is important to choose the best app in order to ensure that your trading successful. Analysts at the Traders Union prepared an article telling readers about the Best Forex App For Swap-Free Trading 2024. We compared the apps and gave them our scores.
The minimum deposit in RoboForex is $10. Leverage up to 1:2000. Traders choose RoboForex for reliability, favorable trading conditions, minimum spreads, and commission fees. The company is recommended for beginner traders and experienced investors.
Pocket Option offers a wide range of trading instruments and copy trading services. It constantly improves its service quality and expands the list of assets and trading platforms. The broker is suitable even for novice traders without significant capital due to the low initial deposit. Experienced traders who work with CFDs and binary options can also use Pocket Option’s services.
Exness broker is a trusted broker partner that is compliant with all relevant terms. Exness complies with all payment obligations and pays money earned.
eToro is an international broker for trading and investing in assets, copying trades of experienced market players and earning income on offering your own successful strategy. The activities of eToro are controlled by European financial regulators: CySEC and FCA. The broker offers its clients the opportunity to trade indices with a maximum leverage of 1:20 and ETF instruments with a leverage of 1:5. Size of leverage in eToro can also vary depending on the regulation of the division of the broker you work with.
IC Markets Trading Company is a great broker for scalping enthusiasts, automated trading lovers, and beginner traders.
1
Best Forex App For Swap-Free Trading 2024 - RoboForex
RoboForex is a well-established brokerage company offering a broad spectrum of trading opportunities for active traders and investors alike. With an impressive selection of over 12,000 financial instruments - including currency pairs, CFDs on stocks, indices, metals, energies, and futures - RoboForex provides a versatile trading environment.
The broker boasts competitive trading conditions: tight spreads starting from 0 pips, high leverage up to 1:2000, and fast execution speeds. The broker also offers the CopyFx investment program, which allows traders to copy the strategies of successful investors and earn passive income. Additional perks include instant fund withdrawals and some of the industry’s highest affiliate payments (up to 84%).
RoboForex prioritizes reliability and client satisfaction, establishing itself as a trusted partner for traders worldwide.
👍 Advantages of trading with RoboForex for traders:
•Availability of favorable trading conditions and a minimum deposit
•Unique investment program CopyFx
•Highest affiliate payments: up to 84% of the fee paid by the referral
•Market launch - STP and ECN
•Instant withdrawal of funds
•Minimum deposit - $10
👎 Disadvantages of RoboForex for traders:
•A small number of currency pairs - 36, for accounts: Pro, Pro-Cent, ECN, Prime
•Lack of tools when trading on the R StocksTrader platform
2
Best Forex App For Swap-Free Trading 2024 - Pocket Option
Pocket Option caters to both Forex and binary options traders, offering a wide range of trading instruments, a copy trading service, and passive income opportunities.
Clients can trade CFDs on currencies, cryptocurrencies, stocks, indices, and commodities with spreads starting from 1.2 pips and no additional commissions per lot. Pocket Option's unique "My Safe" service offers up to 10% annual interest on unused account balances.
While the platform excels in serving active traders, its demo accounts and referral program also offer value to beginners. However, the lack of cent accounts and ECN options could be a drawback for certain professional traders.
👍 Advantages of trading with Pocket Option for traders:
•MetaTrader provides for trading binary options and CFDs;
•A demo mode is available for all account types;
•To register, you may use your Google email or Facebook/Google account;
•Active, social, and algorithmic trading is available on MT4 and MT5 accounts;
•Spreads are from 1.2 pips for Forex and no fees per lot;
•Referral program for retail clients with rewards of up to 50%-80% of the referee’s income;
•“My Safe” service that provides for crediting 10% per annum on the account balance not involved in trading;
•Cash back and promo codes for binary option traders;
•50% deposit bonus.
👎 Disadvantages of Pocket Option for traders:
•The broker offers neither cent accounts for novice traders to test strategies and advisors, nor ECN accounts with near zero spreads for professional traders;
•Real-time communication with operators is available upon funding the account.
3
Best Forex App For Swap-Free Trading 2024 - Exness
Exness is one of the world’s largest brokers, known for its competitive trading conditions, high security, and wide selection of assets. The company serves over 700,000 active clients and processes a monthly volume exceeding $4 trillion.
While specializing in currency pairs, Exness also offers CFDs on stocks, commodities, indices, and cryptocurrencies. The broker caters to all experience levels with various account types – from cent accounts and social trading for beginners to high leverage and Expert Advisor support for seasoned professionals.
Exness holds multiple international licenses, including the stringent FCA and CySEC, ensuring trader funds are protected.
With features like 24/7 support, fast withdrawals, and analytics tools, Exness strives to provide an optimal trading experience.
👍 Advantages of trading with Exness for traders:
•Availability of 8 licenses and a membership in the Financial Commission with its own compensation fund to insure traders against losses;
•Wide choice of account types — Standard, Pro, Cent, Swap Free, and Demo;
•Wide range of CFDs, including over 100 currency pairs;
•Zero deposit and withdrawal fees;
•Proprietary platforms for active and social trading, as well as all versions of classic MT4 and MT5.
👎 Disadvantages of Exness for traders:
•The broker’s website offers almost no educational materials;
•24/7 support isn’t available in all languages.
4
Best Forex App For Swap-Free Trading 2024 - eToro
The eToro broker was founded in 2007. The company promotes itself as a social trading platform working with traders from over 140 countries. The broker has several divisions operating under different jurisdictions and licensed by different regulators. For example, eToro (Europe) is licensed by the Cypriot regulator CySEC (109/10) and eToro (UK) is licensed by the British regulator FCA (583263). The broker also has a representative office in Australia and the USA.
👍 Advantages of trading with eToro for traders:
•High level of reliability ensured by the licenses of respected regulatory authorities and participation in the compensation funds.
•Wide selection of assets quoted at stock exchanges in the UK, U.S., Australia and Asia.
•An opportunity to combine active trading with social trading and passive investing.
•Zero-fee trading of a number of stocks.
•Access to ready-made diversified asset portfolios with various risk levels.
•Provision of leverage, educational materials on various markets and user-friendly trading platforms that can run on any device.
•Zero fees for portfolio management, depositing funds and account maintenance.
👎 Disadvantages of eToro for traders:
•High minimum deposit for users of a number of countries.
•No live chat on the website for quick connection to customer support.
5
Best Forex App For Swap-Free Trading 2024 - IC Markets
IC Markets stands out as a highly reputable broker offering trading with 2,250+ instruments across Forex, stocks, commodities, cryptocurrencies, and more.
The broker provides ultra-fast execution with order speeds up to 40 milliseconds facilitated by its top-tier liquidity partners and processes over $29 billion in Forex trades daily. With a strong focus on active traders, it offers ECN accounts with raw spreads from 0 pips and leverage up to 1:500 (based on which regulator's rules apply to a trader's account). Copy trading is also well-supported through integration with ZuluTrade, cTrader Copy, and other platforms.
IC Markets clients benefit from robust security and regulatory licenses from ASIC, CySEC, and others.
👍 Advantages of trading with IC Markets for traders:
•Availability of three licenses;
•Wide range of assets;
•Standard and ECN account types for trading on different platforms;
•Mobile apps for Android and iOS-based devices;
•Scalping, hedging, and algorithmic trading are allowed;
•Minimum delay when executing orders and ultra-fast market execution;
•Competitive trading fees;
•Wide choice of social trading and copy trading platforms;
•24/7 support via live chat;
•Demo accounts on MT4, MT5, and cTrader;
•Swap-free accounts are available for Muslim traders.
👎 Disadvantages of IC Markets for traders:
•Education materials available on the website are not very informative or diverse;
•Rebates are available outside Australia and the European Economic Area;
•Not all clients are equally protected since compensation for investment is subject to the trader's country of residence.
Best Forex App For Swap-Free Trading 2024 – Security for Traders
Broker’s security and reliability are a priority factor for choosing a mobile app to trade in financial markets. TU analysts performed an analysis of the Top 5 brokers and published the results of their research below.
RoboForex - Security for Traders
Security (Protection for Investors)
RoboForex is regulated by the International Financial Services Commission - FSC Belize (license 000138/437).
FSC Belize is an international financial regulator. The commission sets strict requirements for all its members, and only those companies that meet the regulator's standards and comply with all its requirements are licensed by the organization.
Thus, RoboForex carries out financial activities under its regulations and their requirements, which provide traders with clearly defined rights and obligations and thereby safely secure their monetary assets.
👍 Advantages
-
Clear regulations for trading operations
-
Governs the relationship between a broker and a trader
-
Ability to file claims in the case of a dispute
-
Governs trading NASDAQ and NYSE stocks
👎 Disadvantages
-
A large number of regulatory documents, which must be studied before starting cooperation with RoboForex
Pocket Option - Security for Traders
Security (Protection for Investors)
Pocket Option is licensed by MISA under number T23322. It ensures that the broker works under international laws and rules of financial markets.
👍 Advantages
- MISA doesn’t set restrictions on leverage that the broker offers to retail clients
👎 Disadvantages
- Pocket Option doesn’t provide its services in the USA, the UK, the European Economic Area, Japan, and several other countries
Exness - Security for Traders
Security (Protection for Investors)
The Exness Group includes 8 companies that are licensed in their respective countries of registration. The most reputable regulators of the broker are FCA and CySEC. However, subdivisions licensed by these regulators don’t provide their services to retail traders and private investors. Also, Exness is regulated by BVI FSC, FSCA, FSA (Seychelles), and FSC (Mauritius). Also, the broker is licensed by CMA and CBCS.
Since July 2021, Exness has been a member of the Financial Commission that protects traders in case of insolvency of the servicing broker. Therefore, if Exness goes bankrupt, each client can receive compensation of up to €20,000.
👍 Advantages
- Client deposits are segregated from the company’s capital
- Multi-regulation allows the broker to work with traders from different regions
- All regulatory licenses are valid, which means that regulators are satisfied with the broker’s activities
👎 Disadvantages
- FCA and CySEC licensed offices provide their services only to institutional B2B clients
eToro - Security for Traders
Security (Protection for Investors)
eToro is a financial holding company, each registered office of which is regulated at the place of location of the headquarters. The European office operates on the license No. 109/10 issued by CySEC, the British office – license No. 583263 issued by FCA, the Australia office — license AFSL No.491139 issued by ASIC. eToro is also supervised by the regulators of Malta and the Seychelles.
Accounts opened on eToro UK Ltd. are subject to the Financial Services Compensation Scheme (FSCS). Under its terms, each customer of the company's UK office can receive up to 85,000 British pounds in compensation in the event of eToro's bankruptcy. The CySEC regulator guarantees investment protection in the amount of up to EUR 20,000 euros to all clients of eToro (Europe) Ltd.
👍 Advantages
- The broker operates on the licenses of respected international regulators
- Retail traders are provided with negative balance protection
- Brokerage services are provided in compliance with the MiFID.
👎 Disadvantages
- The compensation schemes apply only to the clients of European and British offices of eToro.
- Low leverage in compliance with the regulators’ requirements
- Identity and bank account verification is mandatory
IC Markets - Security for Traders
Security (Protection for Investors)
IC Markets includes three legal entities registered in Australia, EU, and Seychelles. They are licensed by local ASIC (ACN: 123 289 109), CySEC (362/18), and FSA (SD018) regulators, respectively. Also, since 2021, IC Markets has been a member of the Financial Commission that resolves disputes between brokers and their clients and compensates the latter with up to €20,000. CySEC has its own compensation fund ICF and pays to clients of bankrupt brokers. Availability of three licenses of key global regulators provides the company with a possibility to offer brokerage services to traders in more than 100 countries.
Moreover, IC Markets partners with Lloyds Bank (London) to cover client losses in case of its insolvency. Each trader is compensated for their account balance and amounts of all open positions, but not more than $1,000,000.
Is IC Markets safe? An Honest Review
👍 Advantages
- Rights and obligations of both the broker and the client are clearly stated in the agreement
- The broker’s clients can file official claims with regulators
- Coverage from Lloyds Bank is available
- Client funds and the company’s capital are held separately
👎 Disadvantages
- Limited leverage up to 1:30 for clients of offices regulated by ASIC and CySEC
- Negative balance protection isn’t available in all countries
Summary
In the process of choosing the Best Forex Trading App For Swap-Free Trading 2024, TU experts analyzed features of 5 different brokers. Now you can learn the final score given by the analysts to brokers. We evaluated all apps based on specified criteria.
| RoboForex | Pocket Option | Exness | eToro | IC Markets | |
|---|---|---|---|---|---|
|
Overall score |
8.61 |
7.34 |
7.58 |
9.4 |
8.4 |
|
Execution of orders |
8.95 |
8.9 |
9.6 |
9.1 |
9.45 |
|
Investment instruments |
8.2 |
5.25 |
8.79 |
9.7 |
8.77 |
|
Withdrawal speed |
9.71 |
9.29 |
8.79 |
9.5 |
9.43 |
|
Customer Support work |
9.17 |
6.63 |
9.29 |
9.3 |
7.19 |
|
Variety of instruments |
8.75 |
8.02 |
8.02 |
9 |
8.02 |
|
Trading platform |
6.86 |
5.94 |
1 |
9.8 |
7.51 |
|
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FAQ
Is it possible to register with a broker using the mobile app?
Yes. Brokers provide an opportunity to open an account and pass verification directly in the mobile app.
Does the functionality of apps differ from that of the web version?
It depends on the broker. A good quality mobile app replicates the functionality of the web version either fully or as much as possible.
Are there versions of the apps for tablets?
In some cases, Forex brokers develop separate versions of apps for smartphones, tablets and even for TV sets.
How are the apps protected against unauthorized access?
As a rule, in addition to the username and password, other security measures apply, for example two-factor authentication. In this case, you will need to enter a unique code to access your account.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.