Best Forex Day Trading Apps 2024

Written By

James Barra

Written By

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.

» James Barra Profile Page

Fact Checked By

Jemma Grist

Fact Checked By

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.

» Jemma Grist Profile Page

Updated

Mar 28, 2024

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. AvaTrade - iOS & Android
2. OANDA US - iOS & Android
3. Deriv.com - iOS & Android
4. Pepperstone - iOS & Android
5. XM - iOS, Android & Windows

Best Forex Day Trading Apps 2024 Comparison

Best Forex Day Trading Apps 2024 Comparison

Broker	iOS Rating	Android Rating	Forex Assets	EUR/USD Spread	Minimum Deposit	Visit
	4.3 / 5	4 / 5	50+	0.9	-	Visit
	4.7 / 5	3.7 / 5	65+	1.6	$0	Visit
	4.2 / 5	4.5 / 5	30+	0.5	$5	Visit
	4.4 / 5	4.1 / 5	100+	0.1	$0	Visit
	4.7 / 5	3.9 / 5	55+	1.6	$5	Visit
	3.1 / 5	4.2 / 5	75	0.02	$200	Visit
	4.8 / 5	4.4 / 5	50+	0.0	$100	Visit
	3.4 / 5	4.1 / 5	50+	0.1	$50	Visit
	4.8 / 5	4.4 / 5	40+	1.0	$100	Visit
	3.6 / 5	3.8 / 5	80+	1.2	$100	Visit
	4.8 / 5	4 / 5	55	0.9	$50	Visit
	4.7 / 5	4.4 / 5	30+	0.1	$10	Visit
	4.6 / 5	4 / 5	80+	0.8	$0	Visit
	4.2 / 5	4.1 / 5	20+	N/A	$10	Visit
	5 / 5	3.8 / 5	50+	1.2	$10	Visit

#1 - AvaTrade

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Review

Why We Chose AvaTrade

AvaTradeGO consistently impresses with its comprehensive mobile trading experience, boasting an interface that’s not just easy to use, but genuinely intuitive. Navigating the app is a breeze, ensuring fast access to hundreds of markets, including forex, stocks, indices, commodities, ETFs, and bonds. However, what sets AvaTradeGO apart is its AvaProtect™ feature, offering an unmatched level of risk protection that’s rare to find elsewhere.

"AvaTrade offers the full package for short-term traders. There is powerful charting software, reliable execution, transparent fees, and fast account opening with a low minimum deposit."

- DayTrading Review Team

• Mobile Apps: iOS & Android
• iOS App Rating: 4.3 / 5
• Android App Rating: 4 / 5
• GBPUSD Spread: 1.5
• EURUSD Spread: 0.9
• EURGBP Spread: 1.5
• Total Assets: 50+
• Leverage: 1:30 (Retail) 1:400 (Pro)
• Platforms: WebTrader, AvaTradeGO, AvaOptions, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade

About AvaTrade

AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for day trading, alongside a comprehensive education center and multilingual customer support.

Pros

• There's a great range of fee-free deposit methods, including bank wire, credit cards and popular e-wallets like Skrill
• The broker’s unique risk management tool, AvaProtect, protects against losses up to $1 million and is easy to activate in the platform
• The broker offers reliable 24/5 multilingual customer support with fast response times during testing

Cons

• There is no ECN account with raw spreads
• There’s an above-average $50 inactivity fee after three months, though this won't impact active day traders
• A high $2000 minimum investment is required to use DupliTrade, which will be out of reach for many beginners

Visit AvaTrade

#2 - OANDA US

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Review

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

• Mobile Apps: iOS & Android
• 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

• Day traders can enjoy fast and reliable order execution
• The broker offers a transparent pricing structure with no hidden charges
• The broker's API facilitates access to 25 years of deep historical data and rates from 200+ currencies

Cons

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

Visit OANDA US

#3 - Deriv.com

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Review

Why We Chose Deriv.com

Deriv GO shines with its straightforward app design and diverse trading opportunities, from traditional markets to custom indices that simulate real-world markets and offer 24-hour trading, including on weekends. The in-app chat assistance, which can’t be found at many alternatives, is also fast and reliable, providing an important layer of support for new users.

"Deriv.com will suit day traders looking to make fast-paced trades using CFDs and multipliers with high leverage up to 1:1000. The broker is also the industry leader in synthetic indices, which simulate real market movements and are available around the clock. "

- DayTrading Review Team

• Mobile Apps: iOS & Android
• iOS App Rating: 4.2 / 5
• Android App Rating: 4.5 / 5
• GBPUSD Spread: 0.5
• EURUSD Spread: 0.5
• EURGBP Spread: 0.5
• Total Assets: 30+
• Leverage: 1:1000
• Platforms: Deriv Trader, MT5

About Deriv.com

Deriv.com is a low cost, multi-asset broker with over 2.5 million global clients. With just a $5 minimum deposit, the firm offers CFDs, multipliers and more recently accumulators, alongside proprietary synthetic products which can't be found elsewhere. Deriv provides both its own in-house charting software and the hugely popular MetaTrader 5.

Pros

• There's a good range of fast deposit and withdrawal methods with zero payment fees and low minimum deposits
• The free demo account is ideal for practicing short-term trading strategies and no registration is required
• Deriv bolstered its short-term trading opportunities in 2024 with accumulator options on simulated indices featuring up to 5% growth rates

Cons

• There are limited copy trading tools and analysis features compared to alternatives like IQ Cent
• There's no loyalty program or rebate scheme for high volume traders
• The range of 100+ assets trails some competitors such as Quotex which offers 400+

Visit Deriv.com

#4 - Pepperstone

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Review

Why We Chose Pepperstone

Pepperstone excels for its excellent integration with the MT4, MT5, cTrader, and TradingView apps, making it a standout option for day traders familiar with these leading third-party trading solutions. Despite the absence of a proprietary app, these platforms deliver a stable and reliable mobile trading experience, enhanced by Pepperstone’s almost unrivalled execution speeds and wide range of asset classes.

"Pepperstone stands out as a top choice for day trading, offering razor-sharp spreads, ultra-fast execution, and advanced charting platforms for experienced traders. New traders are also welcomed with no minimum deposit, extensive educational resources, and exceptional 24/7 support."

- DayTrading Review Team

• Mobile Apps: iOS & Android
• iOS App Rating: 4.4 / 5
• Android App Rating: 4.1 / 5
• GBPUSD Spread: 0.4
• EURUSD Spread: 0.1
• EURGBP Spread: 0.4
• Total Assets: 100+
• Leverage: 1:30 (Retail), 1:500 (Pro)
• Platforms: MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade

About Pepperstone

Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for day traders at all levels.

Pros

• Pepperstone boasts impressive execution speeds, averaging around 30ms, facilitating fast order processing and execution that’s ideal for day trading.
• Pepperstone emerges as a low-cost broker, especially for serious day traders with spreads from 0.0 in the Razor account and rebates of 25%+ through the Active Trader program.
• Award-winning customer support is available via telephone, email or live chat with response times of <5 minutes during testing.

Cons

• Pepperstone’s demo accounts are active for only 30 days, which may not be not long enough to familiarize yourself with the different platforms and test trading strategies.
• Despite enhancements to its range of markets, crypto offerings are relatively limited compared to other brokers such as eToro, with no option to invest in real coins.
• Pepperstone does not support cTrader Copy, a popular copy trading feature built into the excellent cTrader platform and available at alternatives like IC Markets.

Visit Pepperstone

#5 - XM

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Review

Why We Chose XM

XM offer a mobile app for both Android and iOS that has been specifically tailored to each platform, maximizing the functionality of both. The app delivers the MT4 and MT5 software on the move, with full access to the broker’s 1000+ instruments. Where they shine is their dependability with minimal glitches and delays during testing. The built-in news, trading journal and push notifications also ensure you have everything you need to day trade from your hand.

"XM is one of the best forex and CFD brokers we have tested. The flexible account types will suit a variety of short-term trading styles while the $5 minimum deposit and smooth sign-up process make it easy to start trading."

- DayTrading Review Team

• Mobile Apps: iOS, Android & Windows
• iOS App Rating: 4.7 / 5
• Android App Rating: 3.9 / 5
• GBPUSD Spread: 1.9
• EURUSD Spread: 1.6
• EURGBP Spread: 1.8
• Total Assets: 55+
• Platforms: MT4, MT5

About XM

XM is a globally recognized forex and CFD broker with 10+ million clients in 190+ countries. Since 2009, this trusted broker has been known for its low fees on 1000+ instruments. XM is regulated by multiple financial bodies, including the ASIC and CySEC.

Pros

• 1000+ instruments are available, including recently added thematic indices, providing exposure to emerging industries
• Powerful MT4 and MT5 platforms are available with 60+ and 80+ technical charting tools
• XM is a hugely respected broker authorized by tier-one regulators

Cons

• PayPal deposits are not supported
• There is weak regulatory oversight through the global entity
• There's $5 inactivity fee after only 3 months, though this won't affect active traders

Visit XM

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.

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

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.

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.

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.

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.

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.

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

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.

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 day trading platforms with a mobile app to offer an unlimited demo mode, allowing you to continuously test strategies even after opening a live account.

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.

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.

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.