Home / Best Forex Trading Apps 2019

Best Forex Trading Apps 2019

FX Scouts By Jeffrey Cammack Updated: October 8, 2019
Forex Trading Apps
Source: Getty Images

Trading apps are not just used for trading, but for price quotes, currency comparisons, and analysis and research.

We have reviewed the notable mobile apps that can support your trading needs.

  • Trading Apps: These are what they say they are. Whoever your broker, whatever your platform, you can bet that you can trade Forex on your mobile. The trading experience will suffer relative to the desktop experience, but it is especially useful for closing out trades and checking your positions.
  • Analysis Apps: More often than actively trading on your mobile, you will probably be thinking about your trading strategy, checking charts and running through analysis that you can use once you at your desk. These are invaluable, and many are just as good as the desktop versions
  • Market News Apps: These are useful, whether at home or on the move. Keeping an eye on market news and live data feeds, especially if you have an open trade, is a good idea.
  • Beginner Traders Apps: Most beginner traders have got day jobs and cannot afford to spend hours in front of desktop learning how to trade. From live market demo accounts on your mobile phone to market tutorials; there is enough here to occupy and educate you on your commute.

First off, we need to discuss the four different categories of apps and how they can assist you with your Forex trading.

Best Trading Apps 2019

Before we go into round-up of the best app options I want to quickly run through the issues of trading on a mobile device. As anyone who has actually done it knows, it is a very different experience to trading at your desk.

  • Screen size: A real issue – many traders operate twin desktops with multiple charts (probably smeared with indicators) and often hold multiple open positions. This is just not going to work on a mobile device, no matter the screen size.
  • Distractions: Mobile devices are designed to be with you when you are doing other things. Trading while you are doing other things is a dangerous game and one that you will lose. If you are trading on a mobile device, makes sure that you have the time and space necessary.
  • Execution Speed: You are not going to use your mobile device for a split second, STP trading or scalping. Mobile networks are getting faster all the time but this there will always be a delay relative to a desktop trading environment;  furthermore, app stability, in general, makes this a risky proposition.
  • Possibly too convenient: The whole point of a mobile trading app is convenience and many brokers have made their apps as convenient as possible. The danger inherent in this convenience is that you may not take the necessary amount of time to consider your trade and follow the precautions you usually would when at your desk.
  • Overtrading: Strongly linked to point 4 above. Often the best move when trading is to do nothing – especially when you are on the move and without access to the tools and charts you have at your desk. With the convenience of a mobile trading app, there is the danger that you will find yourself trading too often and in ways that you wouldn’t normally do when at your desk.

With those caveats fresh in your mind, let’s have a look at the best apps available in 2019. Every mention on this list is available on both iOS and Android for phones and tablets.

Broker Trading Platforms Trading Conditions Deposit
AvaTrade USD 100 Start Trading Read Review
eToro USD 200 Start Trading Read Review
Plus500 USD 100 Start Trading Read Review
easyMarkets USD 100 Start Trading Read Review

 

Some of the best apps for Forex trading are the ones that support your trading – these are charting and analysis tools, market news and data apps. See below for a quick round-up of the best available:

Best Analysis Apps 2019

NetDania Stock & Forex Trader (Android/iOS)

(Google Play Store) | (Apple App Store

NetDania

 

NetDania
NetDania

The NetDania app is a free one-stop shop for all your trading support needs – it also allows you to create demo and live accounts with multiple brokers and synchronises with the NetDania NetStation desktop platform. Even if you don’t use this app for live trading you will find the host of other analysis and news/data streams valuable.

The app offers customisable live data on over 20,000 financial instruments, excellent charting for mobile and tablets and a real-time economic news calendar in 16 languages. You can also build your own algorithms and alerts within the app and synchronise them to your desktop. Overall, a great all-rounder from one of the biggest names in the business.

Market Trends – Forex signals & traders community (Android/iOS)

(Google Play Store) | (Apple App Store

Market Trends

 

Market Trends
Market Trends

Market Trends is an automated trading analysis tools that constantly calculates trend strength based on 3 of the most popular indicators (EMA, RSI and Stochastic). Pivot point levels have also been added to make the analysis more accurate. Though only the most popular currency pairs are available (EUR/USD, GBP/USD, USD/JPY, USD/CHF, USD/CAD, AUD/USD, NZD/USD, EUR/GBP, GBP/JPY, EUR/CH), this is a simple yet powerful and well-designed tool for experienced traders.

Daily Forex Analysis (Android)

(Google Play Store)

Daily Forex Analysis
Daily Forex Analysis
Daily Forex Analysis

A great free app that provides technical analysis through charts and signals to assist your trades. Obviously, with all apps like this, you should only use it to support your trading rather than count on it to make decisions for you. Make sure you run it with a demo account for a while until you are comfortable using it on a live account.

FXhours: Forex Trading, Charts, finance & news (Android)

(Google Play Store)

FX Hours

This is a great app which monitors the opening and closing times of the various Forex markets worldwide and displays them to you in your time zone. It is fully customizable, allowing you to set up your own alerts and comes complete with a huge number of features such as a Forex Calendar, Pivot Calculator, Pip Calculator, Real-time Currency Data, Charts, TradingView Technical Analysis, Real-Time Charts and a Forex News Section.

FX Hours

I would add that this app is better suited to a tablet or phablet rather than a mobile phone due to the amount of information displayed on-screen.

Best Apps for Market News 2019

CityFALCON – Financial News (Android/iOS)

(Google Play Store) | (Apple App Store)

CityFalcon
CityFalcon
CityFalcon

CityFALCON is a news provider that offer real-time and customisable financial news, tweets, and research from over 2000 sources using natural language processing (NLP) and machine learning. This algorithmic approach has resulted in a product called CityFALCON Score, which learns what information is important to you and means less time spent reading irrelevant financial news. This app is very highly rated for good reason and is used by professional and retail traders alike.

Bloomberg: Market & Financial News (Android/iOS)

(Google Play Store) | (Apple App Store)

Bloomberg
Bloomberg
Bloomberg

Bloomberg needs little introduction and this app gives you fully customisable access to all the market data and news that they cover. Though this app does require a 34.99 USD/month subscription to unlock all the content you can get a limited free version and a 30 day trial period.

Best Apps for Beginners 2019

If you are new to Forex trading you probably don’t want to jump straight into using a live broker and you will need to learn how to leverage the charting and analysis apps also on this list. Many brokers offer demo accounts, but these are often with a view to getting you to become a paying customer. Thankfully, there are quite a few which are useful for beginners and we’ve listed a few of our favourite below.

Trading Game – Shares & Forex Investing simulator (Andriod/iOS)

(Google Play Store) | (Apple App Store)

Trading Game
Trading Game
Trading Game

Trading Game is a real-time trading simulator that mirrors the real market. It offers beginner traders the opportunity to trade Forex, shares, commodities and cryptocurrencies risk-free. Additionally, it also has a multi-level trade quiz, a large educational section as well as trading tips and guides for choosing a broker. A great way to get your feet wet without losing your shorts.

GoForex – Forex Trading for BEGINNERS (Android/iOS)

(Google Play Store) | (Apple App Store)

GoForex
GoForex
GoForex

Based on the popular guide “Forex basics and secrets in 15 minutes” this illustrated app offers a step by step class to help novice traders master Forex trading, complete with strategy examples and an interactive quiz. This app also offers a dynamic Top 10 Brokers Guide which is updated regularly on the basis of real user reviews.

OhMyGeorge (Android/iOS)

(Google Play Store) | (Apple App Store)

OhMyGeorge
OhMyGeorge
OhMyGeorge

OhMyGeorge lets you experience financial markets with a much-simplified trading interface. There is no signup, 200 USD of virtual money and it mirrors real-time data from live markets. You will find a game-like interface with locked leverage, no candlesticks, no stop-loss, etc. This really is for those who want to play rather than spend money. That said if you are brand-new to financial markets but are interesting in trading it’s a good way to learn the absolute basics yourself. OhMyGeorge has recently teamed up with FXCM (in some markets) to offer a live trading account but I would recommend using a more detailed platform if you want to graduate to live trading.

We hope you have enjoyed this round-up of a few of our favourite trading apps. If you feel like we’ve missed out on one that you find indispensable, get in touch with us and let us know!

Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.