Many traders in Jamaica use mobile apps to trade. Many brokers operate in this country, each offering their own platform. Before making a choice, it is important to evaluate apps to find the one that perfectly suits your goals and strategy. TU analysts compared Top 5 mobile apps. You will be able to choose the Best Forex Trading App in Jamaica for 2024, based on our assessments.
Eightcap has favorable working conditions due to a large choice of instruments, tight spreads, high leverage, and no withdrawal fees. Integration with popular trading platforms and basic deposit/withdrawal options greatly facilitates work with the broker and reduces the entry threshold. In addition to comfortable conditions and low financial costs, traders get free educational materials and special services for technical analysis. Some solutions, like Capitalise.ai, have no constructive counterparts. A relative disadvantage is the absence of opportunities for passive income. Also, the broker works only with CFDs, so other groups of trading instruments are not available.
FBS is a broker for those who appreciate a variety of trading instruments and prompt support. The company is suitable for both beginners and experienced traders working on PCs and smartphones.
Forex4you is an all-in-one broker for active and passive trading, rates well for both novice traders and professional level traders.
Deriv is a broker for beginners and professional traders who prefer to make trades on their own, as well as use auxiliary programs for more efficient trading.
The Alpari broker focuses on traders with all levels of experience and provides clients with reasonable conditions for both active trading and investment.
Attention! The company does not participate in the cashback program.
Best Forex Trading App in Jamaica for 2024
| Eightcap | FBS | Forex4you | Deriv | Alpari (UK) | |
|---|---|---|---|---|---|
|
Trading platform |
MT4, MT5 |
MT4, Mobile Trading |
MT4, Mobile Trading, MT5 |
Deriv bot, Deriv MT5, Derivix, Deriv Trader, SmartTrader |
MetaTrader4, MetaTrader5 |
|
Min deposit |
$100 |
$1 |
No |
$5 |
$1 |
|
Leverage |
From 1:30 |
From 1:1 |
From 1:10 |
From 1:1 |
From 1:1 |
|
Trust management |
No |
No |
No |
No |
No |
|
Accrual of % on the balance |
No |
No |
No |
1.00%% |
No |
|
Spread |
From 0 points |
From 0.2 points |
From 0.1 points |
From 0 points |
From 0.2 points |
|
Level of margin call / stop out |
80% / 50% |
40% / 20% |
100% / 20% |
100% / 50% |
50% / 10% |
|
Execution of orders |
Market Execution |
Market Execution |
Market Execution, Instant Execution |
Market Execution |
Market Execution, Instant Execution |
|
No deposit bonus |
No |
$5 |
No |
No |
No |
|
Cent accounts |
No |
Yes |
Yes |
No |
No |
1
Best Forex Apps in Jamaica - Eightcap
Eightcap is a leading Forex and CFD broker, offering over 800 trading instruments, including currency pairs, cryptocurrencies, indices, stocks, and commodities. With tight spreads starting from 0 pips, leverage up to 1:500, and no withdrawal fees, Eightcap provides a competitive trading environment. The broker is regulated by top-tier authorities such as ASIC and FCA, ensuring a secure trading experience.
Comprehensive educational resources, advanced analytics, and innovative functionality such as code-free automated trading through Capitalise.ai and enhanced order execution with FlashTrader distinguish the platform from others.
Though Eightcap does not offer passive income opportunities or joint accounts, it is a popular choice for those seeking a reliable and feature-rich broker.
👍 Advantages of trading with Eightcap for traders in Jamaica:
•The broker is registered in the Bahamas and Seychelles, and is regulated by the Securities Commission of the Bahamas (SCB, SIA-F220), ASIC (391441), FCA (921296), CySEC (246/14). Also, it partners with many proprietary firms;
•Traders need to deposit only $100 to open a live account, and the broker imposes few trading limits on its clients;
•Hundreds of the most popular CFDs are available, and the pool is constantly expanding;
•Eightcap provides one of the most profitable trading costs with really tight spreads;
•Almost all options for depositing/withdrawing funds are available and the broker does not charge a withdrawal fee;
•The broker’s clients can work through any of the three top trading platforms, including mobile versions of the MetaTrader solutions;
•The company provides high-quality training, extensive analytics, and its own developments for automated trading.
👎 Disadvantages of Eightcap for traders in Jamaica:
•No joint accounts, copy trading, referral program, or other options for passive income;
•Eightcap has some regional restrictions. For example, some services are not available in Australia;
•The broker's technical support is efficient and competent, but it is not available on weekends.
2
Best Forex Apps in Jamaica - FBS
FBS is an international broker with a strong presence in Asia, offering a wide range of trading instruments including Forex, stocks, indices, energies, and metals. With over 90 international awards and 27 million clients across 150 countries, FBS boasts a strong global reputation.
The company provides flexible trading conditions: leverage up to 1:3000, floating spreads from 0.7 pips, commission-free trading, and fast execution speeds starting at 0.01 seconds. FBS ensures client security with negative balance protection and offers a user-friendly experience on familiar trading platforms.
While FBS doesn't currently offer cryptocurrency trading or passive income options like PAMM accounts and copy trading, its competitive conditions and extensive educational resources make it a compelling choice for traders seeking a comprehensive and accessible experience.
👍 Advantages of trading with FBS for traders in Jamaica:
•negative balance protection;
•a large selection of trading instruments;
•the support service works 24/7.
👎 Disadvantages of FBS for traders in Jamaica:
•no cryptocurrency;
•auto copying is not available;
•no PAMM accounts;
•not suitable for short-term trading, such as scalping;
•the support service works in a limited number of languages;
•only two real accounts.
3
Best Forex Apps in Jamaica - Forex4you
Forex4you caters to a wide range of traders, offering different account types, including cent accounts and ECN accounts with tight spreads from 0.1 pips. The broker provides leverage of up to 1:1000, order execution speed from 0.1 sec, and access to over 150 trading instruments, including Forex pairs, indices, commodities, and stocks. Its proprietary copy trading platform, Share4you, allows traders to earn additional income by sharing their strategies or copying successful traders. Additional features like cashback, bonuses, and partnership programs further enhance the trading experience.
Forex4you doesn't accept clients from the U.S., Canada, Japan, and EU countries, but it presents a compelling option for eligible traders seeking a well-rounded trading experience.
👍 Advantages of trading with Forex4you for traders in Jamaica:
•best trading conditions for novice traders;
•no trading restrictions on scalping and algorithmic trading;
•the possibility of passive income - social trading platform Share4you;
•the broker has an insurance for $10 million on a contingency basis;
•there are cent accounts with a minimum transaction amount of 2 cents.
•customer support responds to customer inquiries within 8 hours, even on weekends.
👎 Disadvantages of Forex4you for traders in Jamaica:
•Relatively high fixed fees on Pro accounts.
•Traders from the U.S, Canada, Japan, and EU countries cannot use services of the broker.
4
Best Forex Apps in Jamaica - Deriv
Deriv is a brokerage company that started its activities in 1999. Deriv's mission is to make trading accessible. For this reason, the company has low minimum deposit requirements, but high-quality working conditions. DTrader is one of the broker's several proprietary trading platforms. Two others are Deriv bot and Deriv MT5. Deriv offers its clients to trade Forex assets, stocks, indices (including synthetic ones), CFDs, commodities, and options. Deriv is an international broker licensed and regulated by the following bodies: Vanuatu Financial Services Commission (VFSC, 14556), Malta and Labuan Financial Services Authority (MFSA, 71479 and Labuan FSA, MB/18/0024), BVI FSC (SIBA/L/18/1114). The rights of traders are guarded by the Financial Commission, of which Derive is also a member.
👍 Advantages of trading with Deriv for traders in Jamaica:
•Low level of the minimum deposit.
•A wide range of payment agents for replenishment of the deposit and withdrawal of earned funds.
•Availability of trading instruments of different groups: currency pairs, stocks, indices, metals, etc.
•Broker regulation by several authorities from different countries.
•Round-the-clock client support.
•Choice of three convenient trading platforms.
•No commission for maintaining a trading account and using its platforms.
👎 Disadvantages of Deriv for traders in Jamaica:
•The tutorials provided on the site may not be enough for novice traders.
•Deriv has only a few ways to contact support.
•The broker does not serve clients from several countries, such as the USA, Canada, Malaysia, Israel, and others.
5
Best Forex Apps in Jamaica - Alpari (UK)
The Alpari broker has been providing financial services in the international foreign exchange market since 1998. The company's services include both active Forex trading and investment offers. The broker is registered in the territory of Saint Vincent and the Grenadines. Its license is № 20389 IBC 2012, issued by the Registrar of International Business Companies. The Company is also a member of The Financial Commission, which handles the settlement of disputes worldwide between brokers and their clients. The broker has received more than 30 awards, including Forex Expo Awards (2011, 2012, 2014), International Finance Magazine Awards (2013), and FX Empire Awards (2017).
👍 Advantages of trading with Alpari (UK) for traders in Jamaica:
•a large number of trading accounts for traders with different levels of experience and goals;
•high-quality and efficient work by the customer support service;
•many ways to replenish the deposit and withdraw funds.
👎 Disadvantages of Alpari (UK) for traders in Jamaica:
•no trading on weekends;
•withdrawal of funds is carried out after occasional delays;
•commission compensation for deposits or withdrawals is available only for traders with VIP status;
•trading on the MetaTrader 5 platform is available only for traders with standard accounts, and swap-free Forex Islamic accounts work only on MetaTrader 4.
Best Forex Trading App in Jamaica 2024: Education for Investors
When choosing the app, it is important to consider educational tools offered by brokers. TU analysts prepared a comparison of educational programs.
Eightcap - Education for Investors
Investment Education Online
Some brokers try to help traders in researching trading on certain markets. This is an advantage because only successful traders constantly engage in self-learning, and not just blind trading alone. Studying materials by industry experts, reading specialized books, and attending webinars taught by experienced trainers provide useful knowledge, which is then applied in practice to create successful trading strategies. Eightcap refers to brokers that offer a comprehensive educational system and materials presented in different formats. Most of the basic information will be extremely useful for novice traders, while professional market participants can receive up-to-date analytics and unique expert materials.
In some reviews, traders note the absence of structured training and its narrow focus. Experts agree with this, but Eightcap provides a very significant amount of information for trading CFDs, which compares favorably with most of its competitors.
FBS - Education for Investors
Investment Education Online
The FBS website has an impressive training section where everyone can get the information they need to trade successfully on Forex and beyond. The broker provides a quick guide to Forex, tips for traders, and video tutorials. The company also conducts webinars. The section is divided into levels for beginners, elementary, intermediate, and advanced levels.
To practice the knowledge gained on the FBS website, the specialists of the brokerage company recommend opening a demo account. You can practice on it without risking real money. The next step is to open a cent account which will allow you to trade in the real market, but with lower risks than on a standard account.
To support traders, a separate analytical section with an economic calendar, a currency converter, and calculators have been created on the site.
Forex4you - Education for Investors
Investment Education Online
To support trading, a separate analytical section has been created on the site with tools that will be of interest not only to the novice, but also to professionals.
Every tool listed above can be tested on a demo account.
Deriv - Education for Investors
Investment Education Online
The broker's website has a section that contains information useful for both beginners and experienced traders. Access to the information is free, just go to the “Resources” section and select the “Academy” subsection.
All Deriv clients can open a demo account upon registering, practice trading without time restraints, test different trading strategies, and — when ready — open a real trading account.
Alpari (UK) - Education for Investors
Investment Education Online
To improve the skills of traders, the company offers training materials that will be useful for both novices in the foreign exchange market and for professionals.
To reduce the risk of losses, clients can test the acquired knowledge on a virtual account.
Summary
In this review, you had an opportunity to learn about the features of 5 brokers, which traders in Jamaica choose the most. However, now you need to choose the best of them. You can do it using the scores given by the Traders Union. Check out the score table that will help you choose the Best Forex Trading App in Jamaica 2024.
| Eightcap | FBS | Forex4you | Deriv | Alpari (UK) | |
|---|---|---|---|---|---|
|
Overall score |
7.69 |
8.28 |
7.44 |
8.48 |
7.11 |
|
Execution of orders |
7.9 |
9.5 |
8.65 |
9.55 |
7.1 |
|
Investment instruments |
8.5 |
6.96 |
6.1 |
8.73 |
5.28 |
|
Withdrawal speed |
7.6 |
9.57 |
6.4 |
9.54 |
7.71 |
|
Customer Support work |
7.2 |
7.58 |
8.5 |
5.94 |
8.13 |
|
Variety of instruments |
8.02 |
7.02 |
5.77 |
9.27 |
6.37 |
|
Trading platform |
6.9 |
9.03 |
9.22 |
7.82 |
8.06 |
|
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FAQ
If a broker has several platforms, does it mean it offers several apps?
No. If a broker has several trading platforms, there is either an option to switch between them in the app, or only one trading platform is available (usually the proprietary one).
Do I need to pay for downloading the app?
Brokers do not charge a fee for downloading their mobile app. They are provided for free.
Can a platform function less effectively in the app than in the web version?
The platforms of reliable brokers with good apps work as smoothly as the web version. Therefore, there are almost no instances when the app runs poorly and the web version runs well. That may happen only in case of technical failures, which also happen rarely if the app is good.
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.