60-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. We may receive compensation when you click on links to products we review. Please read our advertising disclosure. By using this website, you agree to our Terms of Service.

EditorEditor: Chris CammackUpdated: May 19, 2024

Last Updated On May 19, 2024

Alison Heyerdahl
  • AvaTrade - Intuitive App, Native Risk Management
  • Tickmill - Lowest Commissions
  • Spreadex - Best Trading Conditions
  • XM - $5 Deposit, Fast Execution, MT4 and MT5 Apps
  • FP Markets - Advanced Charting Tools and Indicators
  • IC Markets - Best cTrader Mobile Experience
  • Pepperstone - Best Trading Platforms
  • XTB - Best Regulated Forex Broker
  • HF Markets - Best Customer Support
  • FOREX.com - Best range of trading tools

The best Forex trading apps in the UK for 2024.

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Broker
Broker Score
Official Site
Min. Deposit
Regulators
Mobile App
Apple Score
Google Score
Analytical Tools
Forex Calendar
Forex Analysis News Feed
Watch List
Alerts
Cross Device Syncing
Charting - Draw Trendlines
Charting - Drawings Autosave
Charting - Indicators / Studies
Charting - Multiple Time Frames
Charting - Trendlines Moveable
Compare
AvaTrade
4.59 /5
Read Review
Visit Broker >
76% of retail CFD accounts lose money
GBP 100
ASIC
FSCA
CySEC
FSA-Japan
CBI
FRSA
ISA
AvatradeGo
11110.54.3/ 5
11110.54.2/ 5
Tickmill
4.58 /5
Read Review
Visit Broker >
71% of retail CFD accounts lose money
GBP 100
CySEC
FCA
LFSA
FSCA
FSA-Seychelles
DFSA
MT5 App
111110.55.0/ 5
11110.54.4/ 5
Spreadex
4.26 /5
Read Review
Visit Broker >
64% of retail CFD accounts lose money
USD 0
FCA
11110.54.5/ 5
11110.54.4/ 5
XM
4.45 /5
Read Review
Visit Broker >
75.33% of retail CFD accounts lose money
GBP 5
CySEC
ASIC
DFSA
FSC
FSCA
XM App
1110.503.0/ 5
1110.503.7/ 5
FP Markets
4.40 /5
Read Review
Visit Broker >
79% of retail CFD accounts lose money
GBP 50
ASIC
CySEC
FSCA
CMA
FSA-Seychelles
FP Markets App
11110.54.8/ 5
11110.54.3/ 5
IC Markets
4.56 /5
Read Review
Visit Broker >
70.81% of retail CFD accounts lose money
GBP 200
CySEC
ASIC
FSA-Seychelles
SCB
MT5 App
11110.54.7/ 5
11110.54.4/ 5
Pepperstone
4.61 /5
Read Review
Visit Broker >
89%74- of retail CFD accounts lose money
GBP 0
FCA
ASIC
CySEC
MT5 App
1110.503.9/ 5
11110.54.4/ 5
XTB
4.39 /5
Read Review
Visit Broker >
78% of retail CFD accounts lose money
GBP 0
CySEC
FCA
DFSA
FSC
KNF
xStation App
11110.54.7/ 5
11110.54.6/ 5
HF Markets
4.45 /5
Read Review
Visit Broker >
72.83% of retail CFD accounts lose money
GBP 0
FCA
DFSA
FSCA
CySEC
MT5 App
0.500000.0/ 5
11110.54.1/ 5
FOREX.com
4.62 /5
Read Review
Visit Broker >
69%Hello Chrisof retail CFD accounts lose money
GBP 100
FCA
Forex.com App
1110.503.5/ 5
1110.503.9/ 5

How did FxScouts choose the best Forex Trading Apps?

When comparing the best Forex Trading Apps in the UK, we:

  • Confirmed that the brokers were regulated by the FCA or other top-tier authorities to ensure trader protection.
  • Ensured that the apps were secure, e.g. requiring two-factor authentication and protecting personal data with 256-bit SSL encryption technology
  • Assessed the brokers’ trading fees and account options for UK residents and compared spreads on each instrument to other platforms and brokers.
  • Downloaded and installed the apps on Android and iOS devices and connected our live trading accounts.
  • Tested the platform’s stability and execution speed.
  • Examined the overall design, layout and user-friendliness of the app.
  • Checked and tested available tools and features, such as automated trading, market data, charting, indicators and technical analysis.
  • Checked the number of tradable instruments available through the app for traders in the UK.
  • Reviewed the broker’s educational and market analysis material available through the app.
  • Examined deposit and withdrawal options through the app, including costs and times for UK residents, e.g. if it’s possible to use instant banking and UK credit cards and what, if any, fees are involved.
  • Reviewed if it’s possible to contact customer support through the app, and in that case, checking response time and service quality.

Our Broker Score and Trust Rating

FxScouts’ Broker Score and Trust Rating constantly evolve to reflect the forex market’s dynamics. We ensure transparency by incorporating regulator data and user insights. Our in-depth reviews consider over 200 metrics across seven key categories:

  • Trust Rating: Assessment of broker reliability and reputation
  • Trading Costs: Spreads and fees for clear comparisons
  • Platforms: User-friendliness and features
  • Asset Selection: Forex, stocks, and other available instruments
  • Transactions: Simple and straightforward deposits & withdrawals
  • Education: Support for beginners and developing traders
  • Customer Support: Accessibility, responsiveness, and expertise

Learn how we set the standard for broker reviews. Explore our in-depth review process here.

Best Forex Trading App Reviews 2024

These are the best Forex Trading Apps in the UK for 2024, as determined by our comprehensive review process.


Others Also Visit

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Visit
AvaTrade
4.59 /5
Read Review
Visit
Tickmill
4.58 /5
Read Review
Visit
Spreadex
4.26 /5
Read Review
Visit
XM
4.45 /5
Read Review
Visit
Pepperstone
4.61 /5
Read Review
Visit

AvaTrade – Intuitive App, Native Risk Management

Broker Score
4.594.59 / 5
🏦  Min. DepositGBP 100
🛡️  Regulated By
💵  Trading Cost 
USD 9
⚖️  Max. Leverage30:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

Who is AvaTrade’s mobile app for?

With a built-in tutorial and a well-designed and intuitive layout, AvatradeGO will appeal to beginners who find the MT4 and MT5 apps overwhelming and more complicated to use.

Why do we like it?

AvaTradeGo provides a stable trading experience with an advanced dashboard, intuitive management tools, clear charts, and zoom for details. The market trends feature allows traders to see how other Avatrade clients are positioned.

Drawbacks

AvatradeGO is a better-designed re-skin of the MT4 app but loses some of MT4’s functionality. While it looks better and is easier to use for beginners than MT4, more experienced traders may prefer to use the native MT4 app.

Summary

We enjoyed how easy it is to use the AvatradeGO app. It has a sophisticated dashboard and intuitive home screen that allows you to access educational videos, market analysis materials and customer support from within the app.  It also has excellent search functionality, and it’s simple to place orders, set price alerts, create watchlists, and view live prices and charts. Avatrade’s unique risk management tool, AvaProtect, allows traders to purchase loss protection, which acts as trade insurance for a time. Any losses during that time are fully refunded, but any gains are for the traders to keep.

Pros
  • Top-tier regulation and security with licenses from ASIC and CBI among others
  • Accessible trading with a low minimum deposit of 100 USD
  • Award-winning mobile trading with the AvaTradeGO app with social trading features
  • Wide range of assets including unique instruments like vanilla options
  • Educational material to support trader development and strategy enhancement
Cons
  • Market analysis could be more extensive
  • Poor regulatory oversight outside of the UK and EU
  • Avatrade is a Market Maker and operate a dealing desk which might not align with all trading preferences
AlertAccepts UK Clients. Average spread EUR/USD 0.90 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. AvaTrade Group regulated by ASIC, FSCA, B.V.I FSC & FSA. 76% of traders lose money with this provider.

Tickmill – Lowest Commissions

Broker Score
4.584.58 / 5
🏦  Min. DepositGBP 100
🛡️  Regulated By
💵  Trading Cost 
USD 6
⚖️  Max. Leverage30:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

Who are Tickmill’s mobile apps for?

With a low minimum deposit and very low trading costs, trading with Tickmill’s MT4 and MT5 apps will appeal to budget-conscious traders, both beginners and experts.

Why do we like them?

It’s hard to beat Tickmill’s low trading costs and both the MT4 and MT5 apps are available on iOS and Android. They both come equipped with an Advanced Trader Toolkit.

Drawbacks

Tickmill does not offer its own trading app, so beginners may find the native MT4 and MT5 apps complicated at first. In additions, Tickmill has fewer assets to trade than many other brokers.

Summary

While Tickmill only offers the native MT4 and MT5 apps, it has some of the lowest trading costs in the industry. Its Pro Account, also with a 100 USD minimum deposit, has spreads of 0 pips (EUR/USD) and a commission of 4 USD, which is extremely low. Tickmill also has a VIP Account, with a 0 pip (EUR/USD) spread and a commission of 2 USD, but it has a minimum deposit of 50,000 USD, putting it out of the reach of most traders.

Pros
  • Tight spreads
  • Well regulated
  • Fast and free withdrawals
Cons
  • Limited base currencies
AlertAccepts UK Clients. Average spread EUR/USD 0.00 pips with 6 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 platform support. Tickmill is regulated by CySEC, FCA, FSCA, and the FSA-Seychelles. 71% of traders lose money with this provider.

Spreadex – Best Trading Conditions

Broker Score
4.264.26 / 5
🏦  Min. DepositUSD 0
🛡️  Regulated By
💵  Trading Cost 
USD 6
⚖️  Max. Leverage30:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

Best for spread betting on your mobile
Fast trade execution
Tight spreads starting at 0.6 pips

Best for:

Traders who want the choice between CFD trading and spread betting on 3000 instruments in the same trading app.

Why we like the Spreadex Trading app:

It’s a simple trading platform that is easy for beginners to learn. It has a good range of technical indicators to keep track of price action and we found trade execution to be fast and responsive.

Potential drawbacks:

While it’s easy to learn and use, the Spreadex trading app lacks some advanced features like algorithmic trading or sentiment indicators. 2-step authentication for login is also missing, which will concern the security-conscious.

Our Verdict:

The Spreadex app is relatively simple, with a good search function, price alerts and a range of technical indicators. You can access both your spread betting account and your CFD trading account from the app, and your trading integrates seamlessly with the Spreadex web platform. While the app lacks the complexity favoured by more experienced traders, Spreadex also offers support for the more advanced TradingView platform and app. In addition, costs are low with a minimum deposit of 1 GBP and tight spreads starting at 0.6 pips on the EUR/USD.

Pros
  • Tight spreads
  • Low minimum deposit
  • Wide range of assets
Cons
  • Limited demo account
  • No swap-free account option
AlertAccepts Clients from the UK. Average spread on the EUR/USD is 0.60 pips on trading account with the lowest minimum deposit. Max leverage 30:1. Islamic account not available. Spreadex platform and TradingView supported. Spreadex is regulated by FCA.

XM – $5 Deposit, Fast Execution, MT4 and MT5 Apps

Broker Score
4.454.45 / 5
🏦  Min. DepositGBP 5
🛡️  Regulated By
💵  Trading Cost 
USD 6
⚖️  Max. Leverage30:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

Who are XM’s trading apps for?

With its fast execution, XM’s trading apps are perfect for scalping, day trading, and any tactics that involve buying and selling securities within a short time frame.

Why do we like it?

XM is a well-regulated broker supporting MT4 and MT5 native XM apps. The minimum deposit for all accounts is only 5 USD/GBP.

Drawbacks

XM’s entry-level accounts offer wide spreads in comparison to competitors. This can affect profits for traders.

Summary

 With XM’s MT4 and MT5 apps, you can access all three of XM’s account types: A Micro Account, Standard Account, and a commission-based XM Zero Account with super-tight spreads. Each account offers different spreads, with the EUR/USD starting at 1.6 pips on the Micro and Standard Accounts. The XM Zero Account has spreads down to 0.1 pips with a commission of 7 USD round turn. XM is well-known for its execution speed, over 99% of trades are executed in less than a second with a 100% execution rate and no re-requotes or rejections of orders.

Pros
  • Well regulated
  • Excellent education
  • Free deposits and withdrawals
Cons
  • Limited platform choice
AlertAccepts UK Clients. Average spread EUR/USD 0.60 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. XM Group regulated by CySEC, ASIC, and the FSC. 75.33% of traders lose money with this provider.

FP Markets – Advanced Charting Tools and Indicators

Broker Score
4.404.40 / 5
🏦  Min. DepositGBP 50
🛡️  Regulated By
💵  Trading Cost 
USD 7
⚖️  Max. Leverage30:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

Who is FP Markets’ mobile app for?

For its easy-to-use and intuitive trading experience, FP Markets is easy to pick up for newcomers. The FP Markets Trading App is available on all iOS and Android devices and features seamless integration with FP Markets’ desktop trading platforms.

Why do we like it?

We found that the FP Markets Trading App connected to our MT4 account easily, and its clean interface made it very simple to use. It ran smoothly, even on older Android phones, and beginner traders will like the simplified layout compared to the MT4 and MT5 apps.

Drawbacks

Stock CFDs are limited on MT4/MT5 and primarily available through IRESS. The basic IRESS account requires a minimum deposit of 1000 USD and commissions are charged on most trades.

Summary

You can use the FP Markets Trading App for CFDs across shares, indices, commodities, futures, cryptocurrencies, and 60+ currency pairs. One-click trading is available in-app, alongside advanced market analysis using charting tools and a range of technical indicators. The app is fully customisable to suit the preferences of all experience levels of traders.

Pros
  • Trusted since 2005 with top-tier regulation
  • 100 USD minimum deposit amount
  • Supports MT4 MT5 cTrader and TradingView
  • Spreads start at 1.0 pip and narrow to 0 pips with higher trading volumes
  • Welcoming South African traders with specific regulatory compliance
Cons
  • Notably higher withdrawal fees than competitors
  • Stock CFDs are Limited on MT4/MT5 and primarily available through IRESS
  • High leverage up to 500:1
  • posing risks for inexperienced traders
AlertAccepts UK Clients. Average spread EUR/USD 0.10 pips with 6 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5, and cTrader trading platforms available. FP Markets is regulated by CySEC and ASIC.

IC Markets – Best cTrader Mobile Experience

Broker Score
4.564.56 / 5
🏦  Min. DepositGBP 200
🛡️  Regulated By
💵  Trading Cost 
USD 8
⚖️  Max. Leverage30:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

Who are IC Markets trading apps for?

cTrader is ideal for beginner traders, as it has an intuitive and modern interface, integrated educational content, and innovative risk-management features. MT4 and MT5 are also offered.

Why do we like it?

cTrader is one of our favourite trading platforms, and IC Markets is one of a handful of brokers that supports it. The costs on IC Markets’ cTrader Raw Spread Account are also lower than those on the other two accounts. 

Drawbacks

We believe it would be useful for IC Markets to have its proprietary account as well. It would give traders another option if they don’t want to use the traditional platforms.

Summary

The cTrader app provides the same access to tight spreads, deep liquidity and reliable 24/7 customer service that IC Market is known for, and it also features single-tap execution and a split-screen interface for tablets.

The IC Markets MT4 and MT5 apps allow traders to work from anywhere, with nine timeframes, 30 indicators, and interactive currency charts. Functionality to close and modify existing orders, calculate profit/loss in real-time, and tick chart trading further assists traders while on the move.

Pros
  • Well regulated
  • Tight spreads
  • Wide range of assets
  • Great platform choice
Cons
  • High minimum deposit
  • Limited market analysis
AlertAccepts UK Clients. Average spread EUR/USD 0.10 pips with 7 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & cTrader platforms supported. IC Markets is regulated by CySEC and ASIC.

Pepperstone – Best Trading Platforms

Broker Score
4.614.61 / 5
🏦  Min. DepositGBP 0
🛡️  Regulated By
💵  Trading Cost 
USD 10
⚖️  Max. Leverage30:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

Who are Pepperstone mobile apps for?

Pepperstone offers not only MT4 and MT5, but also cTrader and TradingView. This versatility is great for both seasoned traders that use plenty of features but also for beginners who are looking for the best experience.

 Why do we like it?

One of the reasons we love Pepperstone is because its Razor Account offers access to all its trading platforms. This means you can use MT4 and 5, cTrader, and TradingView in an account with spreads starting from 0.

Drawbacks

The mobile apps, unfortunately, have some limitations in comparison to the desktop versions. Also, poor mobile connections seriously impact trading.

Summary

Pepperstone is one of a handful of brokers that supports cTrader. Its clean design makes it easy for beginners to pick up, but it also has the advanced order types and automation options required by more experienced traders. 

The mobile versions of all platforms are freely available and natively designed for Android and iOS on tablets and mobile phones.

Pros
  • Well regulated
  • Tight spreads
  • Great platform choice
  • Wide range of assets
Cons
  • Limited market analysis
AlertAccepts UK Clients. Average spread EUR/USD 1.00 pips with 0.0 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & cTrader platforms supported. Pepperstone is regulated by the FCA, ASIC, CySEC, SCB, CMA, BaFin and the DFSA. 75.6% of traders lose money with this provider.

XTB – Best Regulated Forex App

Broker Score
4.394.39 / 5
🏦  Min. DepositGBP 0
🛡️  Regulated By
💵  Trading Cost 
USD 7
⚖️  Max. Leverage30:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

Who is XTB for?

The intuitive design from XTB’s proprietary app xStation5 makes it suitable for beginners, and so does the absence of a minimum deposit. The award-winning trading app from XTB has successfully incorporated many of its desktop platform features.

Why do we like it?

We love the intuitive, powerful, and fast trading features of the xStation5. The mobile app is well-designed, has excellent search functionality, and allows traders to work from anywhere, close and modify existing orders, and calculate profit/loss in real time.

Drawbacks

Although xStation is a very comprehensive and intuitive app, expert traders might be disappointed with the lack of support for other apps on XTB.

Summary

The xStation app’s layout is fully customisable, and traders can even choose between light and dark mode, saving battery and keeping clarity. Traders can filter the instrument classes and set favourites.

xStation5 introduces XTB sentiment data directly into the platform, so traders can view the percentage of clients trading long or short and on which instruments. It also offers powerful charting tools, one-click trading, stop-loss functionality, multiple order types, price alerts, and real-time performance statistics so you can evaluate your trading moves and identify areas for improvement.

Pros
  • Well regulated
  • Tight spreads
  • Low minimum deposit
  • Good for beginners
Cons
  • Limited platform choice
AlertAccepts UK Clients. Average spread EUR/USD 0.70 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. xStation5 platform supported. XTB Group is regulated by CySEC, DFSA, FCA and the IFSC. 77% of traders lose money with this provider.

HF Markets – Best Customer Support

Broker Score
4.454.45 / 5
🏦  Min. DepositGBP 0
🛡️  Regulated By
💵  Trading Cost 
USD 6
⚖️  Max. Leverage30:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

Who is HF Markets’ mobile app for?

HF Markets offers its own mobile app that looks great and is easy to use. It also offers MT4 and MT5 mobile apps, all available on both Android and iOS. For traders who value advanced tools, multiple platform options, and fast execution, HF Markets is a good option.

Why do we like it?

We love that the HF App allows traders to easily transfer, withdraw and deposit funds, search for instruments, and create watchlists. HF also offers an excellent range of trading tools, including Autochartist, VPS services, and Premium Trader Tools.

Drawbacks

Although HF Markets offers a mobile app, there is no desktop proprietary app for a more detailed view.

Summary

Using HF Markets’ apps, we were able to close and modify existing orders and calculate profit/loss in real-time. We also find it easier to search for instruments than on the web trader versions of the platforms.

HF Markets also has low trading fees, and its Zero Account has competitive spreads that start at 0 pips (EUR/USD) and a commission of 6 USD round turn with no required minimum deposit. 

Pros
  • Well regulated
  • Excellent market analysis
Cons
  • Limited base currencies
AlertAccepts UK Clients. Average spread EUR/USD 0 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. HF Markets Group regulated by the FSCA, FCA, FSC, CySEC and the DFSA. 69.03% of traders lose money with this provider.

FOREX.COM – Best range of trading tools

Broker Score
4.624.62 / 5
🏦  Min. DepositGBP 100
🛡️  Regulated By
💵  Trading Cost 
USD 7
⚖️  Max. Leverage30:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

Who is FOREX.COM for?

FOREX.com provides support for MT4, TradingView, and its own trading platform. Experienced traders will appreciate the range of trading tools, including Trading Central, SMART Signals, and subsidised VPS hosting.

Why do we like it?

The mobile app offers the best features available on the desktop version, including the complete range of order types, trade analysis, and watchlists. All platforms offer fast trading and advanced charting tools, automated trading support, strategy back testing, customisable charting, and several indicators.

Drawbacks

There are high inactivity fees, so we recommend opening an account only if you have the availability to keep up.

Summary

Trading is offered on the FOREX.com mobile app, the FOREX.com web platform, MT4, TradingView and the FOREX.com Advanced Desktop Platform. Please note that the DMA Account is only available on the FOREX.com Advanced Desktop Platform. The DMA account requires a recommended minimum deposit of 25,000 GBP.

A demo account is available, which is great for beginners, but it expires after 30 days. So FOREX.com will require a time investment too, at least while learning how to use the platforms and trade properly.

 

Pros
  • Well regulated
  • Wide range of assets
  • Excellent education
Cons
  • High inactivity fees
  • Limited demo account
AlertAccepts UK Clients. Average spread EUR/USD 0.70 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. Forex.com Web Trader, MT4 and TradingView platforms supported. Forex.com is regulated by the FCA, CySEC, and CIMA. 68% of traders lose money with this provider.

What is a Forex trading app?

A Forex trading app is an application you can download to your phone or tablet that allows you to trade Forex and other financial instruments. Forex trading apps are usually offered free by Forex brokers. Some apps are proprietary, which means they are developed in-house by a broker. But many popular apps are developed by third-party companies. Proprietary Forex trading apps are usually easier to set up and use by beginners. 

Forex trading apps will let you open a demo or trading account with the broker, buy and sell instruments, deposit and withdraw funds from your broker, provide real-time market data, display news and analysis, and provide price alerts and other tools to manage your risk.

What is the difference between a Forex trading app and a Forex trading platform?

Forex trading apps are available on mobile devices, while Forex trading platforms run on desktop computers. Otherwise, they perform the same function. Both allow you to trade on financial markets and will connect to your broker’s trading system. Desktop trading platforms tend to have more features and tools than trading apps and are favoured by experienced traders who require more in-depth technical analysis and advanced order types.

What to look for in a Forex Trading App

With the right Forex trading app, you can stay up to date with the latest market news, access charts, conduct technical analysis, and carry out trades all from the convenience of your smartphone or tablet. But with so many apps out there, how do you choose the best Forex trading app for you? Here are a few important things to consider:

  1. Regulation and Security: Ensure you choose an app from a well-regulated Forex broker with a good reputation. Well-regulated provide secure trading environments and are transparent about their fees, commissions, and risk management policies.
  2. Fees: This includes any commission charges, spreads, or other costs associated with using the app, such as rollover fees and deposit and withdrawal fees. Always make sure you understand your broker’s fee structure before starting trading.
  3. User-Friendly: You don’t want an app that’s too complicated and difficult to use. Look for an app that is user-friendly with an intuitive design that provides a streamlined trading experience. Many good brokers provide tutorial walk-throughs of their apps to help you get on your feet. 
  4. Trading Execution: Your app should be fast and reliable, meaning orders can be placed, closed and managed almost instantly. Apps with poor trade execution can greatly increase risk and may lead to higher losses. 
  5. Tools and Features: Ensure the app has the tools to maximise your trading opportunities. Does it offer real-time market data? Does it have advanced charting capabilities? Does it offer automated trading? Can you conduct technical analysis? Can you set automated price alerts? Knowing the features you want will help you narrow down your choice of app.
  6. Demo Accounts: Choose an app with a free demo account that allows you to test out its features and see whether it meets your trading needs. You can also test out your trading strategies in real market conditions before using real money.
  7. Financial Instruments: Many brokers only allow traders to trade on a portion of the instruments available on the desktop and browser versions of the platform. Consider whether the instruments you prefer trading are available on the app.

What is the best Forex trading App?

It’s impossible to say which trading app is best as traders have different priorities, but AvaTrade’s trading app, AvaTradeGo, provides a smooth trading experience with a sophisticated dashboard, complete with a set of intuitive risk-management tools, clear charts, zoom for details, and many more helpful features unique to this app.

Which is the Best Forex Trading App for Beginners?

The best trading apps for beginners are easy to set up and use and have built-in educational resources. In our testing, we found that the Skilling Trader App has many helpful features for beginners. Not only is it easy to use, but it also includes a Trading Assistant that walks you through the app features. Traders can easily transfer, withdraw and deposit funds, search for instruments, create watchlists, and all of Skilling’s educational materials and market news are available on the app. 

Are Trading Apps Safe?

All Forex and CFD trading comes with a high degree of risk of losing all the money in your trading account. In terms of app security, as long as you download an app from a well-regulated broker and protect your trading account with a strong password and two-factor authentication, your Forex trading app should be secure from hackers.

What are the Pros and Cons of using a Trading App?

While trading apps have advantages, such as responding immediately to market movements, there are also disadvantages, such as the risk of overtrading and trading while distracted. Tune in to our recent podcast episode to find out more:

Pros:

  • Immediately Responding to Price Changes: Trading apps allow you to respond to market movements instantly. Rather than waiting until you are at your PC to take advantage of price movements, you can open or close an order immediately with a tap of your screen.
  • Convenience: Before smartphone trading apps, leaving your desk with an open trading position was a huge risk. But now, all aspects of Forex trading can be achieved via a trading app. Most apps will allow you to open and close positions, analyse the market and keep abreast of breaking news.

Cons:

  • Distraction: Mobile devices are designed to be with you when you are doing other things. However, trading while you are doing other tasks is not encouraged. If you are trading on a mobile device, make sure you have taken the time and space to judge your trading decisions.
  • Overtrading: Often, the best move when trading is to do nothing. But with the convenience of a mobile trading app, you may be tempted to trade too often, or in a way you would not usually do.
  • Execution Speed: With 5G or Wi-Fi, execution speeds on mobile trading apps are generally good, but if your signal drops out, any precision trading will be at risk. Mobile networks are constantly getting faster, but there will always be a delay relative to a desktop trading environment.
  • Screen Size and Chart Limitations: Professional traders use two monitors with multiple charts and often hold numerous open trades. You cannot do this on a small mobile screen without the risk of missing important details. Mobile traders should try to limit the number of open trades and be aware of the charting limitations on their trading app.

Does MetaTrader have an App?

Both MetaTrader 4 and MetaTrader 5 are available as trading apps for Android and iOS devices from the Google Play and Apple Stores. Apple removed the MetaTrader apps from its App Store in September 2022 following claims of misuse. However, MetaQuotes (the company that developed MT4 and MT5) made the necessary security updates, and as a result, the apps are again available for download.

Forex Risk Disclaimer

Trading Forex and CFDs is not suitable for all investors as it carries a high degree of risk to your capital: 75-90% of retail investors lose money trading these products. Forex and CFD transactions involve high risk due to the following factors: Leverage, market volatility, slippage arising from a lack of liquidity, inadequate trading knowledge or experience, and a lack of regulatory protection. Traders should not deposit any money that is not considered disposable income. Regardless of how much research you have done or how confident you are in your trade, there is always a substantial risk of loss. (Learn more about these risks from the UK’s regulator, the FCA, or the Australian regulator, ASIC).

Our Rating & Review Methodology

Our overall Forex Rankings report and Directory of CFD Brokers to Avoid are the result of extensive research on over 180 Forex brokers. These resources help traders find the best Forex brokers – and steer them away from the worst ones. These resources have been compiled using over 200 data points on each broker and over 3000 hours of research. Our team conducts all research independently: Testing brokers, gathering information from broker representatives and sifting through legal documents. Learn more about how we rank brokers

Editorial Team

 

Chris Cammack
Head of Content

Chris joined the company in 2019 after ten years experience in research, editorial and design for political and financial publications. His background has given him a deep knowledge of international financial markets and the geopolitics that affects them. Chris has a keen eye for editing and a voracious appetite for financial and political current affairs. He ensures that our content across all sites meets the standards of quality and transparency that our readers expect.

 

Alison Heyerdahl
Senior Financial Writer

Alison joined the team as a writer in 2021. She has a medical degree with a focus on physiotherapy and a bachelor’s in psychology. However, her interest in forex trading and her love for writing led her to switch careers, and she now has over eight years experience in research and content development. She has tested and reviewed 100+ brokers and has a great understanding of the Forex trading world.

 

Ida Hermansen
Financial Writer

Ida joined our team as a financial writer in 2023. She has a degree in Digital Marketing and a background in content writing and SEO. In addition to her marketing and writing skills, Ida also has an interest in cryptocurrencies and blockchain networks. Her interest in crypto trading led to a wider fascination with Forex technical analysis and price movement. She continues to develop her skills and knowledge in Forex trading and keeps a close eye on which Forex brokers offer the best trading environments for new traders.

 

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