Many traders in Portugal 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 Portugal for 2024, based on our assessments.
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.
TeleTrade is a broker for traders who value the variety of trading instruments and trade using their PC or a mobile app. The company is a good broker both for beginners and experienced traders.
XM Broker is a broker for professional trading. Trading conditions correspond to the average market; there are technical advantages that distinguish XM Broker from its competitors.
Deriv specializes in three markets - Forex, CFDs, and options. Thanks to its extensive network of representatives, its services are available worldwide, and its multi-regulatory approach ensures high reliability.
InstaForex is the best option for traders with any level of experience. For active professional traders, there is a large pool of non-standard technological solutions for more accurate analysis. For novice traders, there are comfortable starting conditions, such as a $1 minimum deposit under the regulation of FSC and a $200 minimum deposit with the broker regulated by CySEC. There are PAMM accounts and social trading for investors.
Best Forex Trading App in Portugal for 2024
| RoboForex | TeleTrade | XM Group | Deriv | InstaForex | |
|---|---|---|---|---|---|
|
Trading platform |
MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader |
MT4, MT5 |
MT4, MT5, Mobile Trading, XM App |
Deriv Trader, MetaTrader5 |
MT4, MultiTerminal, Mobile Trading, MT5, WebTrader |
|
Min deposit |
$10 |
$10 |
$5 |
$5 |
$1 |
|
Leverage |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
|
Trust management |
No |
No |
No |
No |
Yes |
|
Accrual of % on the balance |
No |
No |
No |
1.00%% |
No |
|
Spread |
From 0 points |
From 0.8 points |
From 0.6 points |
From 0.4 points |
From 0 points |
|
Level of margin call / stop out |
60% / 40% |
70% / 20% |
100% / 50% |
100% / 50% |
30% / 10% |
|
Execution of orders |
Market Execution, Instant Execution |
Market Execution, Instant Execution |
Market Execution |
Market Execution |
Instant Execution |
|
No deposit bonus |
No |
No |
No |
No |
No |
|
Cent accounts |
Yes |
No |
Yes |
No |
Yes |
1
Best Forex Apps in Portugal - 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 in Portugal:
•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 in Portugal:
•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 Apps in Portugal - TeleTrade
TeleTrade is a global broker serving clients worldwide. They offer trading on Forex, indices, stocks, metals,cryptocurrencies, and energies. While lacking PAMM accounts and certain investment options, TeleTrade boasts a robust copy trading service, a strong affiliate program, and diverse account types (ECN, NDD, crypto). With sufficient leverage (up to 1:500) and spreads from 0 pips, the broker caters to various trading styles, including scalping, intraday trading, and medium to long-term strategies.
TeleTrade supports traders with market analytics, expert forecasts, an economic calendar, and a comprehensive education section on their website.
👍 Advantages of trading with TeleTrade for traders in Portugal:
•detailed analytical section;
•informative educational section.
👎 Disadvantages of TeleTrade for traders in Portugal:
•no PAMM accounts or other money management options;
•a small range of trading instruments;
•few withdrawal options;
•support is available 24/5;
•withdrawals delayed;
•technical support responds slowly;
•sometimes it takes a long time to verify data.
3
Best Forex Apps in Portugal - XM Group
XM Group is a globally recognized broker, operational in nearly 190 countries and serving over 5 million traders. The broker offers over 1,000 trading instruments, including Forex pairs, stocks, commodities, cryptocurrencies, and precious metals. With licenses from regulators like ASIC and CySEC, XM ensures a secure trading environment.
The company is committed to high-speed order execution without requotes, ensuring 99.35% of trades are completed nearly instantly. The broker's leverage varies by region, offering up to 1:1000 for some non-EU countries while maintaining strict compliance with European standards for others. The spreads start from 0.6 pips.
XM doesn't offer passive investment options like PAMM accounts but provides access to MQL5 copy trading and a VPS for algorithmic trading.
👍 Advantages of trading with XM Group for traders in Portugal:
•XM Broker guarantees 100% execution of orders, 99,35% of orders delivered nearly instantly. No requotes guaranteed;
•no “markup” on narrow market spreads (broker's margins over the spread);
•over 1,000 trading instruments. Available for trading are: more than 55 currency pairs, including CFDs on cross rates, metals (including palladium and platinum), commodities (cocoa, cotton, grain), stocks;
•no commission for replenishment and withdrawal of money. XM Broker incurs all commission costs of payment systems;
•around the clock support for 5 days a week in more than 30 languages.
👎 Disadvantages of XM Group for traders in Portugal:
•passive investment services (social trading platform, PAMM accounts);
•expanding their limited choice of trading platforms. Despite the fact that the broker offers 16 terminals, all of them are modifications of MT4 and MT5 for desktop, browser and mobile trading.
4
Best Forex Apps in Portugal - Deriv
Deriv, formerly known as Binary.com until 2020, is part of the Regent Markets Group financial group founded in 1999. The broker operates on an STP model with MT5 platforms and offers proprietary software for trading options called Deriv Trader. Today, traders from 190 countries around the world use Deriv's services. The company's multi-regulatory approach provides free access to its products. Its activities are regulated by MFSA (The Malta Financial Services Authority), Labuan Financial Services Authority, VFSC (Vanuatu Financial Services Commission), and BVI FSC (British Virgin Islands Financial Services Commission). Deriv specializes in leveraged trading of Forex and CFD instruments and trades in options contracts with multiples.
👍 Advantages of trading with Deriv for traders in Portugal:
•Membership in The Financial Commission, which provides investment protection of up to €20,000;
•Zero trading fees and a wide range of derivatives with floating and fixed spreads;
•The minimum amount to trade options is $5.
•Initial deposit starting from 5 units of the account's base currency - EUR, USD, GBP, AUD;
•Trading platforms are customized to specific markets;
•Client funds are held in segregated accounts in major banks;
•Accounts are protected with two-factor authentication.
👎 Disadvantages of Deriv for traders in Portugal:
•The broker does not offer the more user-friendly MetaTrader 4 platform for beginners;
•Investment in PAMM or MAM accounts is not available;
•There is limited educational content on the company's website.
5
Best Forex Apps in Portugal - InstaForex
InstaForex is a leading broker with over 7,000,000 clients. The company provides access to 2,500+ trading instruments, including Forex pairs, stocks, indices, commodities, and cryptocurrencies. Clients can benefit from competitive spreads starting from 0 pips, leverage up to 1:1000, and access to non-standard technological solutions like synthetic securities. The average execution speed is 0.1 sec.
The broker offers a wide range of cryptocurrency CFDs, with over 70 instruments available and zero spreads on major cryptocurrencies. Additionally, it supports passive investment options including PAMM accounts, copy trading services, and unique offering - OYS portfolios.
The company provides responsive client support and insurance coverage up to €20,000 under European regulation.
👍 Advantages of trading with InstaForex for traders in Portugal:
•2,500+ trading instruments, including non-standard assets, such as InstaFutures and synthetic securities.
•Passive investment products, including PAMM accounts and a copy trading service.
•Non-standard technological solutions such as InstaSpot (P2P spot trading), OYS account, Stock Basket, etc.
•European regulation and IFC compensation fund with guaranteed insurance coverage up to €20,000.
•Comfortable trading conditions, such as a $1 minimum deposit and leverage up to 1:1000, for clients of the FSC-regulated broker.
👎 Disadvantages of InstaForex for traders in Portugal:
•Tough conditions for retail European traders due to regulations.
•The time gap between a trade executed by a trader and the one copied to the investor’s account in the social trading service can be up to 15 seconds.
Best Forex Trading App in Portugal 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.
RoboForex - Education for Investors
Investment Education Online
A large training section has been created on the RoboForex website. Each trader will receive the necessary information for successful trading — from the basics of the Forex market to analytics, reviews of trading strategies, advisors, and indicators.
The company's specialists recommend opening a demo (practice) account and educating yourself by obtaining and later applying theoretical knowledge in practice by actually trading on the demo account, thereby combining theory and practice. Thus, you will gain valuable experience and the necessary skills to work on a real account.
TeleTrade - Education for Investors
Investment Education Online
The TeleTrade website features a large educational section where every trader can find information for successful Forex trading and more. The broker provides information on the basics of analysis, trading strategies, and also offers educational courses, video tutorials. The company also holds webinars.
You can test the knowledge you gained on the TeleTrade website by using a demo account. The broker’s specialists believe it can give novice traders the experience and skills to trade on a live account.
To support traders, a separate analytical section has been created on the website with an economic calendar, news and market overview.
XM Group - Education for Investors
Investment Education Online
Information
XM Broker has dedicated a separate section to training, which focuses on video content. Novice traders can watch the video, which describes the basic functions of the broker's platforms. There are also webinars and seminars conducted repeatedly at the site. The subjects are the most diverse - from the basics of fundamental and technical analysis to the development of trading systems.
All these tools are more of an auxiliary nature, giving traders the opportunity to build up their own experience and their own views on trading systems and trading.
Deriv - Education for Investors
Education
Deriv does not provide training for beginner traders to trade in the real market. The company does not offer personalized training, or conduct educational webinars and courses, and there is very little information for newcomers on its website. The Markets and Help Centre sections provide basic information about various asset classes supported by Deriv platforms.
The demo account is designed to familiarize yourself with the trading platform, learn market features, and develop and test strategies without risking real funds. It is an excellent learning tool for beginners for CFD, Forex, and options trading.
InstaForex - Education for Investors
Investment Education Online
Information
Educational materials can be found on the broker’s website in two sections. The “Novice Traders” section is designed for traders, who are just starting to grasp an understanding of the financial markets. The “Analytics” section provides additional materials for more experienced traders.
The broker's website contains analytical tools that for all traders from beginner to professional level.
The trader can access all information on the site from both the demo and trading accounts.
Summary
In this review, you had an opportunity to learn about the features of 5 brokers, which traders in Portugal 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 Portugal 2024.
| RoboForex | TeleTrade | XM Group | Deriv | InstaForex | |
|---|---|---|---|---|---|
|
Overall score |
8.86 |
7.63 |
8.19 |
8.37 |
7.94 |
|
Execution of orders |
8.95 |
3.21 |
9.35 |
9.55 |
8.85 |
|
Investment instruments |
9.73 |
9.3 |
8.15 |
8.11 |
7.77 |
|
Withdrawal speed |
9.71 |
7.79 |
7.9 |
9.54 |
6.9 |
|
Customer Support work |
9.17 |
8.41 |
8.5 |
5.94 |
7 |
|
Variety of instruments |
8.75 |
8.75 |
8.02 |
9.27 |
8.02 |
|
Trading platform |
6.86 |
8.29 |
7.2 |
7.82 |
9.1 |
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FAQ
Do all brokers offer mobile apps for iOS and Android?
Unfortunately no. Some companies focus only on one operating system. Before opening an account make sure that the broker offers the version for your operating system.
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.
Are there updates for the apps of brokers?
Yes. Mobile apps of brokers are regularly updated and it is very important to update them in the view of proper operation of services.
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.