Best Forex Trading App - Top 8 Reliable and Free

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Best Forex trading app - RoboForex

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TOP Forex trading apps:

1

RoboForex – Leverage up to 1:2000, 12,000+ trading assets

2

Pocket Option – beneficial bonus and affiliate programs, free signals and a copy trading service

3

Tickmill – good execution speed combined with high liquidity and low fees.

Forex is an international market for buying and selling currencies. Forex trading is the process of exchanging one currency for another for trading purposes. Forex trading can generate huge ROI for the traders who use appropriate trading strategies and understand the market conditions. Choosing a suitable trading app is an important aspect in starting the Forex trading journey. Since there are several Forex trading apps available to choose from, evaluating and choosing a suitable Forex trading app can be a daunting task for traders. We, at Traders Union, have identified the top 8 best Forex trading apps that fit the requirements of both novice and professional traders.

Top 8 Best Apps for Forex Trading

Position Broker Best For Account

1

RoboForex

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.

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2

Pocket Option

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.

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3

Tickmill

Tickmill is a suitable broker for both professional traders and novices. The company is good for robotic trading as well as for short-term strategies.

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4

Vantage Markets

Vantage Markets is a broker that is a real catch for traders who prefer ECN trading.

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5

Exness

Exness broker is a trusted broker partner that is compliant with all relevant terms. Exness complies with all payment obligations and pays money earned.

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6

AAFX

AAFXTRADING is a broker offering services in over 150 countries. It is suitable for the traders who prefer to work using STP and ECN technologies.

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7

TeleTrade

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.

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8

Forex4you

Forex4you is an all-in-one broker for active and passive trading, rates well for both novice traders and professional level traders.

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RoboForex

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Description

In 2009, RoboForex Ltd. was established. RoboForex has been offering trading services on a global basis ever since it entered the market for Forex brokers. The broker specializes in trading automation solutions such as the CopyFx auto trading platform, as well as the bot builder. RoboForex supports both 12,000+ CFDs, as well as direct trading in US shares with extra low fees from 0.09 cent per share.

The account type selected on the interface at RoboForex will determine the spreads. For EUR USD, the spreads' is ranging from 0.03 to 1.4 pips for different account types. RoboForex provides 0% fee on all deposits and withdrawals.

RoboForex is generally governed by Belize's Financial Services Commission. At RoboForex, there is a civil liability insurance program in place that offers industry-leading defense against errors, fraud, omissions, negligence, and other risks that might result in losses for clients.

Trading Instruments

RoboForex supports Forex and stock trading. The broker provides access to trading a total of 12,000+ trading assets.

Pocket Option

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Description

Pocketoption was launched in 2017. The broker gives its clients access to trade currency pairs, commodities, stocks, cryptocurrencies, and indices. To operate in the financial markets, the company has developed its own unique trading platform. In addition, Pocket Option clients can trade in MT5. The broker’s service is available in more than 95 countries and regions globally. Pocketoption’s top priority is the high quality of customer service, constant improvement of trading technologies, and financial innovations.

The company's clients get access to many bonus offers, and participate in a profitable affiliate program. Thanks to unique rewards, traders can increase their profile level and purchase resources in Pocket Option's own Market store to increase their profitability while trading.

Leverage is a tool that is offered by numerous brokers to traders. With leverage, traders can open larger positions, allowing them more exposure to the market in which they are trading despite their small initial deposit, and PocketOption offers a maximum leverage of 1:100 on its MT5 Forex account.

The company behind the Pocket Option website that provides brokerage services is PO Trade (SV) Ltd, which is registered in Saint Vincent and the Grenadines, considered to be a Caribbean offshore tax haven. The company says on its website that it is regulated by the International Financial Market Relations Regulation Center (IFMRRC), which is not an official regulatory authority

Trading Instruments

With Pocket Option you can trade Forex, Commodities, Stocks, Cryptocurrencies and Indices

Tickmill

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Description

Founded in 2014, Tickmill focuses on innovations, allowing customers to trade not only manually but also using the services for automatic copying of transactions by their more experienced colleagues.

Tickmill’s focus on innovation is what the company is proud of and why traders choose it. A selection of basic training materials makes the broker a suitable option for those who have just started to master Forex trading.

Tickmill is a brokerage company that attracts traders with low spreads and comfortable trading conditions. It offers users a spread from 0.1 pip for the currency pairs of EUR/USD. The broker is also suitable for experienced traders who prefer both manual and automated trading.

Tickmill is regulated by the Seychelles Financial Services Authority and the UK Financial Conduct Authority. The broker is also regulated by the Cyprus Securities and Exchange Commission. All this is a guarantee of the reliability and safety of funds for a trader.

Trading Instruments

Tickmill offers Forex and CFD Trading.

Vantage Markets

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Description

Vantage Markets, or VantageFx as some will call it, is a broker that has been operating since 2009. Traders can find Forex currency pairs on the company's website, as well as CFDs on American, Australian, and European stocks, commodities, and indices.

Electronic communication network technology is offered to customers by Vantage Markets. Users now have direct access to liquidity providers, which helps clients lower spreads and other trading expenses.

The business is licensed by four regulatory bodies: the UK's Financial Conduct Authority (FCA), Australia's ASIC, Vanuatu's VFSC, and the Cayman Islands Monetary Authority (CIMA).

Over 250 trading instruments, including currency pairs, CFDs on stocks, indices, and commodities, are offered by the broker. Three copying services are also available to investors: MyFxBook, ZuluTrade, and DupliTrade.

Since its creation, Vantage FX has received 11 prestigious awards.

Trading Instruments

With Vantage FX you can trade Currency pairs (44), CFDs on stocks (226), indices (16), and commodities (19)

Exness

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You can lose your money.

Description

Exness has been in operation since 2008. Exness is the best broker for both active and passive investment. It offers a wide variety of trading instruments along with reliability and innovation. The broker offers a range of accounts, depending on the needs of traders. For beginners, the broker offers cent and demo accounts, and for active traders, ECH accounts with low spreads from 0.1 pip.

Exness offers services via its registered offices in the British Virgin Islands, Seychelles, Curaçao, South Africa, and Cyprus. Retail customers cannot get services from offices in Cyprus or the United Kingdom.

Exness is governed by the strictest regulatory agencies, including the Cyprus Securities and Exchange Commission (CySEC) and the UK's Financial Conduct Authority (FCA). Exness is subject to financial services authority (FSA) and FSCA regulation as a securities dealer (South Africa).

Trading Instruments

Currencies, assets of stock and commodity markets, cryptocurrencies

AAFX

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Description

AAFXTRADING is an STP and ECN broker, which was founded in 2014. The broker is headquartered in Hong Kong and has offices in Australia and in Saint Vincent and the Grenadines. The company offers its clients access to trading 7 classes of trading instruments, including currency pairs and contracts for difference (CFDs) on stocks, equity indices, precious metals, energies, commodities and cryptocurrencies. AAFX Trading Company Ltd is a registered online trading broker with the company number 22916 IBC , based in Saint Vincent and the Grenadines.

Trading Instruments

Forex, Crypto, Metals, Indices, Commodities, Energy, Shares

TeleTrade

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Description

TeleTrade is part of the TeleTrade Group of companies, a much larger organization, but as its own independent entity, it is in charge of TeleTrade’s European operations. It was founded as an online broker in 2008 and offers forex trading, spread betting, social trading, and share dealing trading. TeleTrade has more than 80 offices located in more than 30 countries around the world and with a head office in Cyprus,

TeleTrade Company offers its clients the opportunity to trade 28 currency pairs, as well as metals, indices, stocks, and energies. Cryptocurrency trading is also available. Traders can open a free demo account and trade virtual funds.

One of the best benchmarks to measure the safety of a broker like TeleTrade is to establish which regulating authorities are watchdogs over its actions. TeleTrade has been licensed by the Cyprus Securities and Exchange Commission (CySEC) since 2011.

Trading Instruments

Currencies, CFD, commodities, indices

Forex4you

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Description

Forex4You is an offshore broker based in the British Virgin Islands that was launched in 2007 as a trademark under which E-Global Trade & Finance Group, Inc. launched online trading services. Not only does Forex4you cater for professional and advanced traders, but for beginners as well. The company provides a full range of active and passive trading services in the Forex market.

Forex4you offers traders over 150 tradeable instruments, which include several currency pairs, indices, stocks, commodities, and cryptocurrencies. In addition, Forex4you also provides traders with a variety of account types and a reliable trading platform. The company specializes in working with beginners, so its minimum deposit starts from just $1, it offers a large number of bonus programs and copy trading service.

Forex4you is authorized and regulated by BVI FSC, the company is therefore required to ensure that the level of share capital and reserves do not fall below a certain amount and that it is increased yearly.

Trading Instruments

Currencies, assets of stock and commodity markets, cryptocurrencies

Compare the Best Forex Trading Apps

Here is a comparison between the best trading applications on parameters such as demo account, copy trading, technical indicators, drawing tools, watch list, newsfeed, and trading bots.

RoboForex Pocket Option Tickmill Vantage Markets Exness AAFX TeleTrade Forex4you

Trading platform

MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader

Pocket Option, MT5, MT4

MT4, MT5, Tickmill Mobile App

MT4, MT5, WebTrader, Mobile Apps

Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4

MT4, MT5, Web platform

MT4, MT5

MT4, Mobile Trading, MT5

Min deposit

$10

$5

$100

$50

$10

$100

$1

No

Leverage

From 1:1
to 1:2000

From 1:1
to 1:1000

From 1:1
to 1:500

From 1:1
to 1:500

From 1:1
to 1:2000

From 1:1
to 1:2000

From 1:1
to 1:10

From 1:10
to 1:1000

Trust management

No

No

Yes

No

No

No

No

No

Accrual of % on the balance

No

No

No

No

No

No

No

No

Spread

From 0 points

From 1.2 point

From 0 points

From 0 points

From 1 point

From 0.7 points

From 0.8 points

From 0.1 points

Level of margin call / stop out

60% / 40%

30% / 50%

100% / 30%

100% / 50%

No

50% / 20%

70% / 20%

100% / 20%

Execution of orders

Market Execution, Instant Execution

Market Execution

Market Execution

Market Execution

Market Execution, Instant Execution

Market Execution

Market Execution, Instant Execution

Market Execution, Instant Execution

No deposit bonus

No

No

$30

No

No

No

No

No

Cent accounts

Yes

No

No

No

No

No

No

Yes

Best Forex Trading App for Beginners

RoboForex is the best trading app for beginners because it facilitates trading not only in Forex but also in stocks, ETFs, commodities, and metals. Since its trading platform is available in 13 different languages, beginners can choose a language that they are familiar with. It reduces language barriers for beginners and enables them to trade smoothly. Beginners always want the trading applications with the lowest minimum deposit. They may not be able to test the waters if the minimum deposit is high. With a minimum deposit of $10, RoboForex makes it easier for beginners to start their trading journey.

Beginners always want to use the demo account before trading with real money. The demo account enables them to understand how trading in various instruments works and gain hands-on experience. RoboForex can be an ideal choice for beginners as it offers a demo account with a user-friendly trading platform.

The micro account offered by RoboForex helps beginners to develop superior trading strategies during the initial days of trading. The distinctive feature of the micro account is that it converts the currency into cents and facilitates trading conditions that are similar to the standard accounts. This feature enables beginner traders to test the market conditions with a minimal investment possible.

How to Choose the Best Forex App?

Choosing the best Forex app can be an exhausting journey for beginners. With thousands of trading apps available online, beginners may get confused with their choices. This guide helps to choose the best Forex app that is suitable for your trading requirements:

Step-1: Trading Goals

Determine your trading goals. First, decide if you want to be an active trader, passive trader, long-term investor, forex trader, or options trader.

Step-2: Assess your Trading Skills and Experience

Do you have experience in trading already? Are you completely a new trader? Are you a professional trader who wants to shift from one platform to another for a seamless experience? If you don’t have any experience with Forex trading already, you may need to choose a platform that offers a demo account with a minimum deposit of $0 or $10. If you are a professional trader with active trading experience and sufficient capital to trade, you may look at the availability of currency pairs, leverage, and reliability in customer support rather than the minimum deposit amount.

Step-3: Assess Licences and Regulatory Approvals

All Forex trading brokers must have regulatory approvals. Check if the trading broker you chose has the license from the relevant regulatory authority.

Step-4: Read Reviews on Traders Union

Several websites like Traders Union review Forex trading applications regularly. One can select a handful of reputed brokers by reading through reviews of various Forex traders.

Step-5: Select a Suitable Trading App

Evaluate the selected trading apps against your trading requirements and goals. Choose the trading app that meets the criteria in your evaluation.

Consider the trading tools and features offered. Look for advanced charting, technical indicators, risk management tools, news feeds, and support for expert advisors/automated trading. The best platforms have robust capabilities.

Check the platform's connectivity and speed. Since Forex is traded 24/7, you want a platform that provides fast execution and doesn't crash or freeze during critical moments.

Can I Start Forex Trading for Free?

Yes, you can start forex trading for free to an extent, but it's essential to recognize its restrictions and potential hazards. The first option is a demo account, which most online forex brokers offer. This account allows you to practice trading with virtual money, hence providing an excellent way to learn about forex markets and test your trading strategies without risking real cash.

The second option is no deposit bonuses, where some brokers provide a small amount of capital to trade on their platform without requiring you to deposit your own money. However, these often come with strict conditions and might have higher fees.

Is Forex Safer Than Crypto?

Forex trading is generally considered safer than cryptocurrency trading due to a higher degree of regulation. Forex is a well-established market with oversight from regulatory bodies such as the U.S. Commodity Futures Trading Commission (CFTC), the National Futures Association (NFA) in the U.S., the Financial Conduct Authority (FCA) in the U.K., and many others worldwide. These organizations work to protect traders from fraudulent activities and ensure market integrity.

On the contrary, the cryptocurrency market is largely unregulated, making it more vulnerable to manipulation and fraud. While some crypto exchanges are starting to be regulated in certain jurisdictions, it's still a developing field with significantly more risk.

When checking if a broker is legally permitted to operate, look for their regulatory information, usually found on their website. A legitimate broker will clearly state the regulatory bodies they are registered with and their corresponding registration numbers. You can then cross-check this information with the respective regulatory body's website. For instance, in the U.S., the NFA's BASIC database allows you to look up brokers to confirm their registration status and disciplinary history.

Crypto prices tend to be much more volatile than major currency pairs. The high volatility leads to higher risk in crypto investing. But volatility also allows for more profit potential.

Forex markets have decades of historical data to analyze. Crypto markets have limited historical data since they are relatively new. This makes risk harder to quantify in crypto.

Overall, Forex probably has a slight edge in terms of operational safety due to tight regulations.

Expert Opinion

RoboForex tops the list of the best trading platforms for a reason. It is well suited for both new and experienced investors, as it provides a low minimum deposit, reasonable fees and minimal spreads. In fact, each broker from the rating of trading platforms has its own unique advantages.

Choosing a trading platform can be difficult for traders, especially newbies, as there are many different broker offerings in the market today. When deciding on the option that is suitable for you, it is important to take into account the reliability of the platform, conditions, paying special attention to attention to the size of spreads, leverage, etc., and the variety of instruments. The platform must meet your financial goals and trading requirements.

Anastasiia Chabaniuk

Anastasiia Chabaniuk

Author, Financial Expert at Traders Union

FAQs

Is copy trading legal?

Yes, copy trading is legal in most countries as long as you use a regulated broker. It is a legitimate way of copying the strategies of successful traders. Check with your broker and country’s Forex trading regulations to get more details on the legal aspects of copy trading in your country.

How much money do I need for Forex Trading?

There is no hard-and-fast rule on this. You can start Forex trading with as little as $100. However, you enjoy good returns only when you have high capital at your disposal. We suggest beginners use no more than 1% of the total capital on a single Forex trade.

How important is the demo account?

The demo account would be highly helpful for beginning Forex traders who don’t have any experience in trading. With the demo account, they understand the trading conditions and features of the platform before engaging in real-time trading. For experienced traders, the demo account may be of the least priority while choosing a trading platform.

Which is the best app for a beginner trader, RoboForex or FxPro?

If you are a beginner, we recommend you choose RoboForex because it offers a $10 minimum deposit. The minimum deposit with Fx Pro is $100. The multi-language trading platform of RoboForex would also ease the language barriers for beginners.

Team that worked on the article

Chinmay Soni
Contributor

Chinmay is a certified Investment Analyst and Portfolio Manager by the National Stock Exchange (NSE) Academy. He is currently associated with a $75 million VC fund and assists them in identifying and researching investable sectors and start-ups. He has completed his Bachelors of Business Administration from the Institute of Management, Nirma University and is currently pursuing MBA majoring in Finance from the same. He has 4 years of hands-on investment experience in a variety of asset classes and his professional qualifications include being a CFA Level 2 candidate and NSE Certified Market Professional Level 2.

He finds writing as a way to express his thoughts and share his knowledge with people eager to learn. He himself happens to be an avid reader of personal finance books and on top of his recommendation list are the international bestsellers ‘The Psychology of Money’ and ‘Think and Grow Rich’

He has this one strong belief as his motto: Life is what you make of it.

Dr. BJ Johnson
Dr. BJ Johnson
Developmental English Editor

Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.

The topics he covers include trading signals, cryptocurrencies, Forex brokers, stock brokers, expert advisors, binary options. He has also worked on the ratings of brokers and many other materials.

Dr. BJ Johnson’s motto: It always seems impossible until it’s done. You can do it.