Best Forex Trading Apps 2024

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James Barra
James is an investment writer with a background in financial services. He has worked as a management consultant, where he delivered large-scale operational transformational programmes at some of Europe's biggest banks. James authors, edits and fact-checks content for a series of investing websites.
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Jemma Grist
Jemma is a writer, editor and fact-checker focused on retail trading and investing. Jemma brings a unique perspective to the forex, stock, and cryptocurrency markets and works across several investment websites as a researcher and broker analyst.
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Forex trading apps allow you to speculate on the value of currencies from a mobile or tablet device. The best forex apps for day traders offer a terrific user experience with advanced charting tools, excellent pricing, reliable execution, value-add features, and access to a great range of major, minor and exotic currency pairs. We’ve identified the forex applications that excel in these areas.

Top 5 Forex Day Trading Apps

Our comprehensive analysis, hands-on tests and ratings from real traders show that these are the best iPhone and Android apps for trading forex:

  1. FOREX.com - iOS & Android
  2. Interactive Brokers - iOS & Android
  3. OANDA US - iOS & Android
  4. DNA Markets - iOS & Android
  5. IG - iOS & Android

Best Forex Trading Apps 2024 Comparison

Best Forex Trading Apps 2024 Comparison
Broker iOS Rating Android Rating Forex Assets EUR/USD Spread Minimum Deposit Visit
FOREX.com logo
80+ 1.0 $100 Visit
Interactive Brokers logo
100+ 0.08-0.20 bps x trade value $0 Visit
OANDA US logo
65+ 1.6 $0 Visit
DNA Markets logo
40+ 1.0 $100 Visit
IG logo
80+ 0.8 $0 Visit
Pocket Option logo
55+ N/A $50 Visit
IQCent logo
49 0.3 $250 Visit
Videforex logo
35 Floating from 0.1 pips $250 Visit
CloseOption logo
20+ No fee - payouts approx. 80% (Copper) $5 Visit
Binarium logo
20 N/A $5 Visit
RaceOption logo
25+ Floating $250 Visit
BinaryCent logo
25+ Floating $250 Visit
World Forex logo
53 From 0.6 $1 Visit

#1 - FOREX.com

Why We Chose FOREX.com

Running alongside the MT4 and Web Trader platforms, the FOREX.com app offers full trading capabilities on a user-friendly, compact platform. Integrated news and analysis, plus real time trade alerts, are two mobile specific features that set this app above the crowd. Additionally, it beats out MT4 when it comes to mobile charting tools, with over 80 indicators and 11 chart types, not to mention a slicker design that we love.

"FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools."

- DayTrading Review Team
  • iOS App Rating: 3.6 / 5
  • Android App Rating: 3.8 / 5
  • GBPUSD Spread: 1.0
  • EURUSD Spread: 1.0
  • EURGBP Spread: 1.0
  • Total Assets: 80+
  • Leverage: 1:50
  • Platforms: MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral

About FOREX.com

Founded in 1999, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.

Pros

  • There’s a wealth of educational resources including tutorials, webinars, and a stacked YouTube channel to help you get educated in the financial markets.
  • FOREX.com offers industry-leading forex pricing starting from 0.0 pips, alongside competitive cashback rebates of up to 15% for serious day traders.
  • The in-house Web Trader continues to shine as one of the best-designed platforms for aspiring day traders with a slick design and over 80 technical indicators for market analysis.

Cons

  • FOREX.com's MT4 platform offers approximately 600 instruments, significantly fewer than the over 5,500 available on its non-MetaTrader platforms.
  • Demo accounts are frustratingly time-limited to 90 days, which doesn’t give you enough time to test day trading strategies effectively.
  • Despite increasing its range of instruments, FOREX.com's product portfolio is still limited to forex and CFDs, so there are no options to invest in real stocks, real ETFs or real cryptocurrencies.

#2 - Interactive Brokers

Why We Chose Interactive Brokers

The IBKR Mobile app, available on both iOS and Android devices, makes your phone a powerful gateway to your IBKR accounts, offering you the freedom to keep an eye on portfolios, initiate trades, and dive into real-time quotes and charts, all while managing your account activities on the fly. This app stands out for its intuitive design, making it especially welcoming for those just starting their trading journey, providing a smoother and more accessible experience than the more complex TWS platform.

"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."

- DayTrading Review Team
  • iOS App Rating: 3.4 / 5
  • Android App Rating: 4.6 / 5
  • GBPUSD Spread: 0.08-0.20 bps x trade value
  • EURUSD Spread: 0.08-0.20 bps x trade value
  • EURGBP Spread: 0.08-0.20 bps x trade value
  • Total Assets: 100+
  • Leverage: 1:50
  • Platforms: Trader Workstation (TWS), Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral

About Interactive Brokers

Interactive Brokers (IBKR) is a premier brokerage for experienced traders, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.

Pros

  • While primarily geared towards experienced traders, IBKR has made moves to broaden its appeal in recent years, reducing its minimum deposit from $10,000 to $0.
  • With low commissions, tight spreads and a transparent fee structure, IBKR delivers a cost-effective environment for short-term traders.
  • IBKR continues to deliver unmatched access to global stocks with tens of thousands of equities available from 100+ market centres in 24 countries.

Cons

  • You can only have one active session per account, so you can’t have your desktop program and mobile app running simultaneously, making for a sometimes frustrating trading experience.
  • TWS’s learning curve is steep, and beginners may find it challenging to navigate the platform and understand all the features. Plus500's web platform is much better suited to new traders.
  • IBKR provides a wide range of research tools, but their distribution across trading platforms and the web-based 'Account Management' page lacks consistency, leading to a confusing user experience.

#3 - OANDA US

Why We Chose OANDA US

OANDA’s app stands out for its deeply customizable interface, ensuring you can tailor every aspect of the trading experience to your strategy, from setting custom notifications to adjusting chart sizes and overlays. This level of personalization, combined with the ability to quickly react to market changes, manage risk, and stay informed with alerts on significant market events, makes it a category leader.

"OANDA remains an excellent broker for US day traders seeking a user-friendly platform with premium analysis tools and a straightforward joining process. OANDA is also heavily regulated with a very high trust score."

- DayTrading Review Team
  • iOS App Rating: 4.7 / 5
  • Android App Rating: 3.7 / 5
  • GBPUSD Spread: 3.4
  • EURUSD Spread: 1.6
  • EURGBP Spread: 1.7
  • Total Assets: 65+
  • Leverage: 1:50
  • Platforms: OANDA Trade, MT4, TradingView, AutoChartist

About OANDA US

OANDA is a popular brand offering exceptional execution, low deposit requirements and advanced charting and trading platform features. The top-rated brand has over 25 years of experience and is regulated by trusted agencies, including the NFA/CFTC. Around the clock support is available for short-term traders, alongside flexible contract sizes and automated trade executions.

Pros

  • The proprietary OANDA web platform continues to deliver a highly competitive charting environment, including 65+ technical indicators powered by TradingView
  • Seasoned day traders can access industry-leading tools, including an MT4 premium upgrade and advanced charting provided by MotiveWave
  • OANDA is a reliable, trustworthy and secure brand with authorization from tier-one regulators including the CFTC

Cons

  • The range of day trading markets is limited to forex and cryptos only
  • It's a shame that customer support is not available on weekends
  • There's only a small range of payment methods available, with no e-wallets supported

#4 - DNA Markets

Why We Chose DNA Markets

Our initial disappointment with DNA Markets’ lack of a proprietary mobile app was quickly overshadowed by the impressive functionality of the MT4 and MT5 mobile apps. These platforms deliver a seamless trading experience akin to their desktop counterparts, with smooth charting and customizable features optimized for mobile use. The addition of push notifications and plentiful daily news accessible directly from your phone ensures you’re kept in the loop with key market updates.

"DNA Markets is an excellent choice for short-term traders familiar with the MetaTrader platforms. The smooth sign-up process also makes it easy to get started while the $100 minimum deposit is accessible. That said, DNA Markets trails the top brokers in education, research and mobile trading. "

- DayTrading Review Team
  • iOS App Rating: 4.8 / 5
  • Android App Rating: 4.4 / 5
  • GBPUSD Spread: 1.0
  • EURUSD Spread: 1.0
  • EURGBP Spread: 1.0
  • Total Assets: 40+
  • Leverage: 1:500
  • Platforms: MT4, MT5

About DNA Markets

DNA Markets is a forex and CFD broker established in 2020. The broker operates two entities in Australia and the offshore jurisdiction, St Vincent and the Grenadines. Traders can access 250+ markets, with a Standard account for beginners and a Raw account for experienced traders. The reliable MetaTrader 4 and MetaTrader 5 platforms are available, alongside Signal Start.

Pros

  • Low trading fees with spreads from 0.0 pips in the Raw account and zero non-trading fees
  • 24/5 customer support with response times of <2 minutes during testing
  • Top-rate platforms and charting tools for day traders with access to MT4 and MT5

Cons

  • The investment offering trails alternatives, especially in terms of stocks, cryptos and commodities
  • Although it continues to strengthen its client base and reputation DNA Markets lacks the track record of top brokers like Vantage
  • There are limited educational and research tools, reducing its appeal to beginners

#5 - IG

Why We Chose IG

IG offers a superb all-round trading app. One of the pioneers of mobile trading, the application has been developed and refined over many years, meaning it is now among the best trading apps. Quick response, user-friendly layout, access to full charting and a stable and reliable application. It also offers guaranteed stops – an important risk management tool not available on many apps we’ve tested.

"IG continues to provide a comprehensive package with an intuitive web platform and best-in-class education for beginners, plus advanced charting tools, real-time data, and fast execution speeds for experienced day traders."

- DayTrading Review Team
  • iOS App Rating: 4.6 / 5
  • Android App Rating: 4 / 5
  • GBPUSD Spread: 0.9
  • EURUSD Spread: 0.8
  • EURGBP Spread: 0.9
  • Total Assets: 80+
  • Leverage: 1:30 (Retail), 1:250 (Pro)
  • Platforms: Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral

About IG

Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.

Pros

  • The IG app offers a superb mobile trading experience with a clean design that helped it secure Runner Up at our Best Trading App award
  • As a well-established broker, IG operates under strict regulatory guidelines in multiple jurisdictions, maintaining a high level of trust
  • IG offers an extensive collection of professional and engaging educational resources, including webinars, articles, and analysis

Cons

  • Stock and CFD spreads still trail the cheapest brokers like CMC Markets based on tests
  • IG has discontinued its swap-free account, reducing its appeal to Islamic traders
  • IG applies an inactivity fee of $12 per month after 2 years, deterring casual investors

In instances where forex brokers lack their own custom trading applications, opting instead to utilize external solutions such as MT4, MT5, or cTrader, we’ve provided these ratings from the relevant app stores. Additionally, please be aware that app store ratings are subject to change.

Comparing Forex Day Trading Apps

To find the top apps for trading currencies, we consider several criteria that collectively contribute to a superior mobile trading experience:

Forex Assets

Downloading an app that provides access to the currency pairs you want to speculate on is essential, as the range of currency pairs can vary significantly.

Our analysis of hundreds of forex apps shows that most top firms support at least 40 currency pairs, from majors like the EUR/USD to minors like the GBP/JPY and exotics like the CAD/SGD.

Choosing a forex app with a large suite of forex assets is important to ensure you have a good range of day trading opportunities and the ability to build a diverse portfolio.

Some brokers with forex apps, such as CMC Markets, also stand out by offering forex indices, providing an alternative way to speculate on the value of key currencies like the USD, EUR and GBP.

FX products on CMC Markets trading app
CMC App – Currency Pairs
Table of FX instruments on CMC app
CMC App – Forex Assets
Popular currency pairs on CMC Markets app
CMC App – Currency Indices

 

You can compare the selection of currency assets at our top 5 forex apps below.

Top 5 Forex Trading Apps - Currency Assets
FOREX.com Interactive Brokers NinjaTrader eToro USA OANDA US
Currency Pairs 80+ 100+ 50+ 65+

Trading Fees

Using a forex app that charges low fees is essential, as the frequent transactions involved in day trading strategies can accumulate, affecting net gains.

Our top-rated currency apps come with competitively low fees for short-term traders, a conclusion we reach through regular assessments of both trading and non-trading fees.

For example, we evaluate the spreads you will pay on three of the most popular currency pairs: EUR/USD, EUR/GBP and GBP/USD.

However, our extensive industry experience has underscored the need to balance cost with quality. Opting for the cheapest forex app without evaluating the range of currency pairs and charting tools can be a misstep, particularly for advanced traders requiring top-notch tools.

You can compare the spreads on popular currency assets at our 5 top forex apps below.

Top 5 Forex Trading Apps - Currency Spreads
FOREX.com Interactive Brokers NinjaTrader eToro USA OANDA US
Fee Rating
EUR/USD Spread 1.0 0.08-0.20 bps x trade value 1.3 1.6
EUR/GBP Spread 1.0 0.08-0.20 bps x trade value 1.6 1.7
GBP/USD Spread 1.0 0.08-0.20 bps x trade value 1.6 3.4

Design & Usability

Choosing a forex app that provides a great user experience with an intuitive design is crucial; not only will it minimize the learning curve and enhance your ability to capitalize on market opportunities, but it also makes for an enjoyable trading experience.

That’s why these elements are at the core of our evaluation process, derived from the personal observations of our hands-on testers, and reinforced by ratings from other forex traders on Apple and Android devices, which we’ve collated from the relevant app store.

Customizing Forex.com trading app
Forex.com App – Setup
Forex.com app interface
Forex.com App – Chart
Forex.com app currency assets
Forex.com App – FX Assets

 

💡
Pro Tip: Test drive a forex app using a demo account to make sure you enjoy the mobile trading experience before risking real money.

Below you can see how the ratings from our in-house experts stack up against those from the Apple App Store and Google Play Store across our top 5 forex apps.

Top 5 Forex Trading Apps - In-House & App Store Ratings
FOREX.com Interactive Brokers NinjaTrader eToro USA OANDA US
Our Rating
iOS Rating
Android Rating

Charting Tools

Picking a forex app with excellent charting tools is crucial, especially for day traders who often use technical analysis to identify entry and exit points in fast-paced currency markets.

We know from first-hand experience that you often sacrifice charting functionality when you move from a desktop platform to a mobile or tablet device, particularly in the number of indicators, drawing tools and customization options.

That’s why we look for apps that offer a robust charting package for mobile traders of all levels, including indicators that are particularly popular with forex day traders, such as Moving Average Convergence Divergence, Bollinger Bands, and Average Directional Index.

Changing AvaTrade charts on forex app
AvaTrade App – Charts
AvaTrade app forex chart
AvaTrade App – Charting Display
Using day trading indicators on AvaTrade forex app
AvaTrade App – Indicators

 

We also check for access to popular third-party apps like MetaTrader 4 (MT4), which was built specifically for forex trading and remains the most popular trading platform despite increasing competition from proprietary solutions developed by online brokers and third-party alternatives like cTrader and TradingView.

💡
Pro Tip: Turning your phone horizontally often provides the best charting view and makes it easier to overlay indicators and tools.
Changing forex chart in MT4 app to horizontal view
MetaTrader 4 App – Horizontal View

You can compare the charting tools available at our top 5 forex apps below.

Top 5 Forex Trading Apps - Charting Information
FOREX.com Interactive Brokers NinjaTrader eToro USA OANDA US
Charting Rating
Charting Platforms MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral Trader Workstation (TWS), Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral NinjaTrader Desktop, Web & Mobile, eSignal eToro Trading Platform & CopyTrader OANDA Trade, MT4, TradingView, AutoChartist

Order Execution

Opting for a forex app with fast execution speeds is critical, especially for day traders speculating on exotic currency pairs where high volatility can lead to rapid price changes.

We’ve also seen that mobile forex traders, in particular, can face challenges here, with reduced execution speeds stemming from mobile network delays and issues related to the stability of applications.

That’s why we recommend mobile applications with fast and dependable order execution, an assessment we make by reviewing their execution policies and available data on execution times.

You can see whether our top 5 recommended forex apps met our execution benchmarks below.

Top 5 Forex Trading Apps - Order Execution
FOREX.com Interactive Brokers NinjaTrader eToro USA OANDA US
Reliable Order Execution Yes Yes Yes Yes Yes

Value-Add Features

Downloading an app that provides additional forex tools aimed at your experience level, strategy requirements or personal preferences can help create an optimal trading environment.

For example, some apps offer education that covers the essentials of forex trading for beginners. eToro excels here, with superb courses on the forex market, strategy guides and risk management.

Alternatively, Plus500 is one of the few forex brokers with a mobile app to offer an unlimited demo mode, allowing you to continuously test strategies even after opening a live account.

Trading signals on IG app
IG App – Forex Signals
Client sentiment data on forex assets on CMC App
CMC App – Client Sentiment
Setting virtual balance to demo trade forex on Plus500 app
Plus500 App – Demo Trading

 

The CMC Markets app is also noteworthy for its well-presented data on client sentiment that displays interest in different currency assets, including in which direction, helping traders discover opportunities.

Finally, some apps, such as those from IG, provide live forex signals with trade suggestions. For example, buy the EUR/USD at X price and place a stop limit at Y. Forex signals can be provided free of charge or users may have to pay a small fee, though we’ve seen a lot of scams in this space so be wary when selecting a firm.

You can compare the value-add features at our 5 top forex apps below.

Top 5 Forex Trading Apps - Value-Add Features
FOREX.com Interactive Brokers NinjaTrader eToro USA OANDA US
Forex Education Yes Yes No Yes Yes
Demo Mode Yes Yes Yes Yes Yes
Forex VPS Yes No No No No
Forex Signals SMART Signals Yes No

Methodology

We identified the best forex day trading apps by leveraging our years of industry experience and extensive testing to identify the hallmarks of an excellent app for day trading currencies, outlined below.

Our testing methodology stands out by considering millions of ratings from traders on the Apple App Store and Google Play Store, offering a comprehensive evaluation of forex trading apps that combines the insights of our experts with those of fellow traders.

Our methodology for testing forex trading apps

FAQ

How Do Forex Day Trading Apps Work?

Forex trading apps allow you to speculate on currency pairs from your mobile or tablet device. They are specially designed to optimize the mobile trading experience, often integrating touch controls and with split-screen modes to let you observe two or more FX markets simultaneously.

The latest forex apps are also powered by the cloud, which helps you to access market data, analysis tools and price alerts wherever you are.

Can I Open A Forex Account From An App?

Yes, most forex trading apps allow you to open a live or demo account directly from within the application.

We’ve personally tested dozens of forex apps and most take less than 5 minutes to get started with by following the on-screen instructions.

Are Forex Day Trading Apps Free To Download?

Most forex trading apps can be downloaded free of charge, either through in-house applications from brokers or via supported third-party options like MetaTrader 4, MetaTrader 5, and TradingView.

Forex trading costs, however, whether via spreads or commissions, will be the same on mobile apps as they are on full online trading platforms.

What App Do Most Forex Day Traders Use?

There is no single app that every forex trader prefers. The choice will normally come down to a range of factors, such as costs, speed and reliability.

However, we’ve scoured the Apple App Store and Google Play Store to find the most popular forex apps based on downloads and several stand out: MetaTrader 4 (10+ million), MetaTrader 5 (10+ million), Trading212 (10+ million), Plus500 (10+ million).

What Are The Advantages Of Day Trading Forex From My Mobile?

Forex trading apps offer the convenience of managing trades, analyzing data, and accessing your account from anywhere, eliminating the need for a fixed office setup.

What Are The Risks Of Day Trading Forex From My Mobile?

Trading forex from your mobile has several drawbacks, notably the limited screen size can restrict your ability to monitor multiple charts and positions simultaneously, while distractions from notifications and social media can lead to errors.

We’ve also found that you may have to contend with slower execution speeds due to mobile network latency and app stability issues.

Article Sources

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