Best Mobile Trading App for 2024 - TOP 5 Comparison

Detailed Review of the Best Mobile Trading Apps

To make an informed choice of a mobile app, you need to read a detailed review of the broker offering it. This will help you to learn more about the company in general and its mobile app in particular. Traders Union experts have prepared the required information to help you make the right choice.

RoboForex is the best broker for a beginner trader

RoboForex is one of the best brokers for novice traders. Practice shows that newcomers choose this company primarily for its reliability and comfortable trading conditions. The minimum deposit at RoboForex is only $10. It is a small amount, but it is enough to understand the trading specifics and understand how the Forex market generally works.

Orders of RoboForex clients are immediately brought to the international market, working according to the "A-Book" principle, excluding a possible conflict of interest with the broker within the system itself.

RoboForex offers its clients the opportunity to invest in ETFs through its proprietary innovative trading platform - R StocksTrader. In it, you will find a variety of charts and quotes updated online for the following instruments: 12,000 stocks, currency pairs, indices, and ETFs. The minimum deposit to get started with R StocksTrader is $100. Additionally, an accessible constructor is built into the platform, which allows you to create trading robots on your own without programming skills. You can test the created Expert Advisor on a demo account.

ETF trading at RoboForex is available with leverage up to 1:20, depending on the selected account type. The minimum commission is 0.25 USD, and the spread is 0.01 USD. These instruments are traded 24/7, and the Stop Out level is 20%. The maximum number of ETF instruments available for investment through R StocksTrader is over 8400.

Another competitive advantage of the RoboForex broker is its innovative liquidity aggregation technology. It is also worth noting that RoboForex uses direct entry of orders to the market - STP, ECN. Advanced technologies for bringing client transactions to international platforms allowed the company to achieve excellent results in order execution speed (90-100 ms) with an average value of this parameter elsewhere in the market is 500 ms. In general, there are no negative reviews on the processing speed in RoboForex.

Exness is a universal Forex broker for traders with varied trading experience

Due to a wide choice of trading instruments and platforms, Exness is suitable for traders with any background. Experienced market participants can trade with unlimited leverage and keep any number of open positions. For this, they use desktop MetaTrader 5 with advanced technical analysis tools.

Less experienced traders can use Standard account types, all versions of Exness MT4, and Exness proprietary platforms with easier-to-use functions than those of MT5. Any trader can first open a demo account to practice, and later open a cent account. Exness provides different types of analytics that help traders make informed trading decisions.

Tools to improve trading efficiency:

• Forex calculators. These tools are used to calculate margin, spreads, the value of 1 pip, fees, and swaps (short and long);

• Free VPS. It is provided for account types with a balance over $1,000 or with a monthly trading volume of $500,000 subject to the account balance of $500-$999.

FTMO is a prop company where professional traders excel

The general structure of the FTMO proposal has been described above. The company has a standard account and a swing account. The difference is that the standard account has restrictions on fundamental trading. There are two types of strategy on the standard account normal and aggressive (i.e., high risk) trading. The aggressive type provides for a larger allowable loss of up to 20%, but the target profit is also increased to 20%. The cost of the budget package itself with a deposit of $10,000 for a moderate risk is €155, for an aggressive stratagem, the deposit fee is €250.

After successfully passing the test, the initial real amount of the managed deposit is 400 thousand US dollars with the condition of 80% of the trader's profit. Twenty percent of the profit is received by the company and investors. Next, the scaling program starts. The limit of money under management can be reviewed upwards every 4 months. If a trader has increased the deposit by at least 10% during this time (20% for an account with aggressive trading), the deposit amount is increased by 100 thousand US dollars. The maximum allowable limit for an aggressive trading account is USD 2 million, and for an account with moderate risk, it’s USD 2 million. Also, with scaling, the trader's reward increases up to 90% of the profit.

Useful services of the FTMO firm:

• Economic calendar. It can be useful for trading, but here it is necessary to bear in mind the restrictions on trading at the time of the important news release.

• Statistical application. Shows significant and numerical probabilities of market behavior.

• Mentor Application. Helps traders achieve better results by strengthening their discipline.

• Trade magazine. Saves trading results with the ability to analyze trades.

• Account MetriX. An innovative and unique web application where you can track your progress towards becoming an FTMO trader.

• Account analysis. An objective trade analysis tool that provides an “outside point of view”.

• Performance Coach. Psychological help.

• Equity Simulator. A tool for improving the risk management system and calculating the probability of chances of a positive result based on current trading conditions. It is available in your MetriX account.

FreshForex is suitable for beginner traders

FreshForex places a large focus on beginner traders than on professional major investors. The customer reviews on this company show that they choose this broker because of the good trading conditions, the opportunity to not only open a free demo account but also to have a shot at the real market with minimal risks by opening a cent trading account. Also, beginners mention a large educational section on the FreshForex website dedicated to the traders' education and training.

The company also provides bonus programs and free analytics. While fast execution of orders is one of the main advantages of this broker.

FreshForex trading terminals and services:

• MetaTrader4/5 is one of the most popular trading terminals, which is appreciated for its ease of use and functionality. It allows you to work in financial markets, as well as with CFDs and futures. Also, the platform makes it possible to use, and even create by yourself, programs for automated trading. The platform works on all widespread operating systems: Android, iOS, MacOs, Windows, and Linux;

• Web-terminal - the broker offers to use the web version of the MetaTrader 4 trading terminal, which is equipped with a large set of functions and has a high level of security. Advantages of the platform are the absence of the need to install it on a PC or smartphone/tablet, the possibility to trade from any type of account, as well as the availability of many trading instruments;

• VPS-server from FreshForex - for uninterrupted operation. By renting an allocated virtual server, you can work with automated trading systems more efficiently. It provides round-the-clock high-speed Internet and gives access to all functions of the terminal from any device. To make it easier for traders to decide whether they need this service, the broker allows you to rent it for free for a day; 

• FreshForex Easy bot - for easy Forex trading. This is a virtual assistant that will allow you not to waste time analyzing charts: it will collect and show only relevant information. However, you should not fully trust automated programs and rely wholly on their recommendations because the data collected and provided by the bot can turn out to be inaccurate.