Best Forex Day Trading Apps 2024
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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 10 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:
-
1FOREX.comiOS & AndroidActive Trader Program With A 15% Reduction In Costs
Ratings
$1000.01 Lots1:50NFA, CFTCForex, Stocks, Futures, Futures OptionsMT4, MT5, TradingView, eSignal, AutoChartist, TradingCentralWire Transfer, Credit Card, Debit Card, Visa, Mastercard, Skrill, Neteller, ACH TransferUSD, EUR, GBP, CAD, AUD, JPY, CHF, PLN -
2OANDA USiOS & AndroidCFDs are not available to residents in the United States.
Ratings
$00.01 Lots1:50NFA, CFTCForex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA)OANDA Trade, MT4, TradingView, AutoChartistWire Transfer, Visa, Mastercard, Debit Card, ACH TransferUSD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD -
3DNA MarketsiOS & Android
Ratings
$1000.01 Lots1:500ASICCFDs, Forex, Indices, Commodities, Stocks, CryptoMT4, MT5Credit Card, Debit Card, Wire Transfer, BPAY, Skrill, Neteller, Bitcoin Payments, Bitwallet, AstroPay, MastercardUSD, EUR, GBP, CAD, AUD, NZD, SGD -
4IGiOS & AndroidForex trading involves risk. Losses can exceed deposits.
Ratings
$00.01 Lots1:30 (Retail), 1:250 (Pro)FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOBCFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread BettingWeb, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentralPayPal, Wire Transfer, Mastercard, Credit Card, Visa, Debit CardUSD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD -
5Pocket OptioniOS & Android50% Deposit Bonus
Ratings
$50$1MISABinary Options, Currencies, Commodities, Stocks, Indices, CryptosWeb, MT4, MT5Wire Transfer, Credit Card, Bitcoin Payments, Volet, Perfect Money, Visa, Mastercard, Debit Card, WebMoney, FasaPay, Ethereum Payments, Maestro, JetonCashUSD -
6IQCentiOS & Android20% to 200% Deposit Bonus
Ratings
$250$0.011:500IFMRRCBinary Options, CFDs, Forex, Indices, Commodities, CryptoOnline Platform, TradingViewCredit Card, Debit Card, Wire Transfer, Bitcoin Payments, Ethereum Payments, Visa, MastercardUSD, EUR -
7RedMarsiOS & Android
Ratings
€2500.01 Lots1:30 (Retail), 1:500 (Pro)CySECCFDs, Forex, Stocks, Indices, Commodities, CryptosMT5Credit Card, Wire Transfer, Debit Card, Sticpay, FasaPay, Bitcoin Payments, Trustly, PayPal, Skrill, Neteller, Klarna, Mastercard, VisaUSD, EUR -
8Interactive BrokersiOS & Android
Ratings
$0$1001:50FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMAStocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, CryptocurrenciesTrader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentralCheque, ACH Transfer, Wire Transfer, Automated Customer Account Transfer Service, TransferWise, Debit CardUSD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF -
9CloseOptioniOS & Android$10 Welcome Gift
$5$1National Bank of GeorgiaBinary Options on Forex & CryptosOwnPayPal, WebMoney, Mastercard, Perfect Money, Wire Transfer, Bitcoin Payments, Ethereum PaymentsUSD -
10VideforexAndroid20% to 200% Deposit Bonus
$250$0.011:500Binary Options, CFDs, Forex, Indices, Commodities, CryptoTradingViewSkrill, Perfect Money, Bitcoin Payments, Neteller, Credit Card, Visa, Mastercard, Ethereum PaymentsUSD, EUR, GBP, AUD, RUB
Here is a summary of why we recommend these brokers:
- 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.
- 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.
- 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.
- 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.
- Pocket Option - Pocket Option delivers an excellent mobile trading experience directly through mobile and tablet browsers, without needing a native app. You can easily customize charts using the settings at the top while placing trades in one click is a breeze using the ‘higher’ and ‘lower’ buttons at the bottom of the screen. The interface also adapts seamlessly to horizontal viewing, mirroring the desktop layout for a consistent user experience.
- IQCent - IQCent offers mobile trading directly through major browsers with an intuitive design that we love. You can navigate your account, browse assets and trade binaries in a few clicks. Straightforward access to the copy trading feature at the bottom is also a bonus, alongside the interactive charts which you can pinch to zoom.
- RedMars - RedMars doesn’t offer a proprietary platform, which might be a consideration for beginners. The only choice is MetaTrader 5 (MT5), available for desktop, web, and mobile. The lack of support for MT4, cTrader, or TradingView is disappointing, with MT4 easier to use than MT5, cTrader sporting a more user-friendly interface, and TradingView proving excellent due to its advanced charting and community-sourced indicators.
- 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.
- CloseOption - CloseOption’s TradeRoom stands out as a fantastic option for beginners, with its streamlined design minimizing the learning curve. It’s super easy to place short-term trades from 5 seconds with basic charting tools at your disposal. Tutorials and frequent updates with video demonstrations also enhance the experience, while weekly contests are available to skilled traders on the go.
- Videforex - Videforex stands out with its comprehensive and user-friendly mobile trading solution, offering short-term binaries across a wide range of assets. The web-accessible application is fast, intuitive, and perfect for beginners, complete with a helpful guide upon first use. Videforex’s ongoing enhancements, including the addition of candlestick charts for technical analysis, further enrich the user experience.
Best Forex Day Trading Apps 2024 Comparison
FOREX.com
"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."
Christian Harris, Reviewer
FOREX.com Quick Facts
Bonus Offer | Active Trader Program With A 15% Reduction In Costs |
---|---|
GBPUSD Spread | 1.3 |
EURUSD Spread | 1.2 |
EURGBP Spread | 1.4 |
Total Assets | 80+ |
Leverage | 1:50 |
Platforms | MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral |
Mobile Apps | iOS & Android |
iOS App Rating | / 5 |
Android App Rating | / 5 |
Demo Account | Yes |
Instruments | Forex, Stocks, Futures, Futures Options |
Minimum Deposit | $100 |
Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN |
Pros
- 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.
- Alongside a choice of leading platforms, FOREX.com offers a superb suite of supplementary tools including Trading Central research, SMART Signals pattern scanner, trading signals, and strategy builders.
- With over 20 years of experience, excellent regulatory oversight, and multiple accolades including runner-up in our 'Best Forex Broker' awards, FOREX.com boasts a global reputation as a trusted brokerage.
Cons
- Funding options are limited compared to leading alternatives like IC Markets and don’t include many popular e-wallets, notably UnionPay and POLi.
- 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.
- Demo accounts are frustratingly time-limited to 90 days, which doesn’t give you enough time to test day trading strategies effectively.
OANDA US
"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."
Jemma Grist, Reviewer
OANDA US Quick Facts
GBPUSD Spread | 3.4 |
---|---|
EURUSD Spread | 1.6 |
EURGBP Spread | 1.7 |
Total Assets | 65+ |
Leverage | 1:50 |
Platforms | OANDA Trade, MT4, TradingView, AutoChartist |
Mobile Apps | iOS & Android |
iOS App Rating | / 5 |
Android App Rating | / 5 |
Demo Account | Yes |
Instruments | Forex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA) |
Minimum Deposit | $0 |
Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD |
Pros
- The broker offers a transparent pricing structure with no hidden charges
- 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
- 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
- The range of day trading markets is limited to forex and cryptos only
DNA Markets
"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. "
Jemma Grist, Reviewer
DNA Markets Quick Facts
GBPUSD Spread | 1.0 |
---|---|
EURUSD Spread | 1.0 |
EURGBP Spread | 1.0 |
Total Assets | 50+ |
Leverage | 1:500 |
Platforms | MT4, MT5 |
Mobile Apps | iOS & Android |
iOS App Rating | / 5 |
Android App Rating | / 5 |
Demo Account | Yes |
Instruments | CFDs, Forex, Indices, Commodities, Stocks, Crypto |
Minimum Deposit | $100 |
Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, SGD |
Pros
- DNA Markets offers top-rate platforms and charting tools for day traders with access to MT4 and MT5
- The broker provides 24/5 customer support with response times of <2 minutes during testing
- You can access low trading fees with spreads from 0.0 pips in the Raw account and zero non-trading fees
Cons
- Unlike many alternatives, there are limited educational and research tools for traders seeking an all-in-one solution
- Although it continues to strengthen its client base and reputation, DNA Markets lacks the track record of top brokers like Vantage
- Despite access to MT4 and MT5, there is no proprietary trading app for seamless account management whilst on the go
IG
"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."
Christian Harris, Reviewer
IG Quick Facts
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 |
Mobile Apps | iOS & Android |
iOS App Rating | / 5 |
Android App Rating | / 5 |
Demo Account | Yes |
Instruments | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting |
Minimum Deposit | $0 |
Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD |
Pros
- As a well-established broker, IG operates under strict regulatory guidelines in multiple jurisdictions, maintaining a high level of trust
- The proprietary web-based platform continues to caters to traders of all levels, with advanced charting tools and real-time market data useful for day trading
- The ProRealTime advanced charting platform is free as long as certain modest monthly trading activity requirements are met
Cons
- Beginners might find IG’s fee structure complex, with various fees for different types of trades or services, potentially leading to confusion or unexpected charges
- 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
Pocket Option
"Pocket Option excels for its easy-to-use web platform which provides a best-in-class user experience for short-term binary traders. The $50 minimum deposit is also accessible for beginners while opening an account is really easy. Looking at the negatives, Pocket Option still trails alternatives in its market offering and regulatory credentials."
Jemma Grist, Reviewer
Pocket Option Quick Facts
Bonus Offer | 50% Deposit Bonus |
---|---|
GBPUSD Spread | N/A |
EURUSD Spread | N/A |
EURGBP Spread | N/A |
Total Assets | 55+ |
Platforms | Web, MT4, MT5 |
Mobile Apps | iOS & Android |
iOS App Rating | / 5 |
Android App Rating | / 5 |
Demo Account | Yes |
Instruments | Binary Options, Currencies, Commodities, Stocks, Indices, Cryptos |
Minimum Deposit | $50 |
Account Currencies | USD |
Pros
- The range of payment methods beats the majority of rivals, providing fast, secure and convenient deposits for traders in most countries
- The MetaTrader platforms offer integrated analysis with helpful technical summaries for short-term traders
- Extremely fast and smooth sign-up process that takes less than 2 minutes
Cons
- You need to deposit $1000 to access the extended list of 250+ assets, otherwise just 130+ assets are available
- The MISA is a weak regulator with limited investor protection for retail traders
- Pocket Option offers a slimmed down iteration of the MT4 and MT5 that doesn't provide the full charting package for advanced traders
IQCent
"IQCent will appeal to day traders looking for a straightforward binary options and CFD trading platform with low fees, a range of accounts, and copy trading. Getting started takes less than 1 minute and a $250 deposit. "
Jemma Grist, Reviewer
IQCent Quick Facts
Bonus Offer | 20% to 200% Deposit Bonus |
---|---|
GBPUSD Spread | 0.8 |
EURUSD Spread | 0.3 |
EURGBP Spread | 0.8 |
Total Assets | 49 |
Leverage | 1:500 |
Platforms | Online Platform, TradingView |
Mobile Apps | iOS & Android |
iOS App Rating | / 5 |
Android App Rating | / 5 |
Demo Account | Yes |
Instruments | Binary Options, CFDs, Forex, Indices, Commodities, Crypto |
Minimum Deposit | $250 |
Account Currencies | USD, EUR |
Pros
- CFD trading fees are competitive based on tests, including 0.7 pips on major forex pairs such as EUR/USD
- Keen traders can take part in trading contests with cash prizes
- The broker's 24/7 customer support is fast and reliable, responding within 1 minute during tests
Cons
- There's no automated trading support for algo traders
- The market analysis is very basic with limited technical summaries and insights from analysts
- IQCent trails binary brokers like Quotex with its narrow investment offering of around 100 assets with no stocks
RedMars
"RedMars is the best fit for experienced day traders familiar with the MetaTrader 5 platform and based in the EU, where the broker is authorized by the CySEC. However, the threadbare education and research tools make it unsuitable for beginners."
Christian Harris, Reviewer
RedMars Quick Facts
GBPUSD Spread | 0.7 |
---|---|
EURUSD Spread | 0.7 |
EURGBP Spread | 1.1 |
Total Assets | 50+ |
Leverage | 1:30 (Retail), 1:500 (Pro) |
Platforms | MT5 |
Mobile Apps | iOS & Android |
iOS App Rating | / 5 |
Android App Rating | / 5 |
Demo Account | Yes |
Instruments | CFDs, Forex, Stocks, Indices, Commodities, Cryptos |
Minimum Deposit | €250 |
Account Currencies | USD, EUR |
Pros
- RedMars offers one of the best platforms for day trading, MT5, hosting 21 timeframes, dozens of analytical tools, flexible templates and algo trading
- The broker supports a range of flexible payment methods, including wire transfers, credit cards, e-wallets, and notably cryptocurrencies
- Getting started on RedMars is incredibly easy - you can be up and running in just a few minutes based on tests
Cons
- The no-frills trading environment offers little beyond the basics, with no Islamic account, PAMM account or copy trading.
- RedMars falls short for newer traders, with little in the way of education, no beginner-friendly platform, a steep minimum deposit, and inadequate support during testing
- While RedMars' spreads are within industry averages, they don't offer a significant edge over the cheapest day trading brokers we've personally used, notably IC Markets
Interactive Brokers
"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. 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."
Christian Harris, Reviewer
Interactive Brokers Quick Facts
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), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral |
Mobile Apps | iOS & Android |
iOS App Rating | / 5 |
Android App Rating | / 5 |
Demo Account | Yes |
Instruments | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies |
Minimum Deposit | $0 |
Account Currencies | USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF |
Pros
- The TWS platform has clearly been built for intermediate and advanced traders and comes with over 100 order types and a reliable real-time market data feed that rarely goes offline.
- There's a vast library of free or paid third-party research subscriptions catering to all types of traders, plus you can enjoy commission reimbursements from IBKR if you subscribe to Toggle AI.
- 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.
Cons
- 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.
- Support can be slow and frustrating based on tests, so you might find it challenging to reach customer service representatives promptly or encounter delays in resolving issues.
CloseOption
"CloseOption is a good pick for traders seeking a user-friendly binary options platform with high payouts and joining bonuses."
Tobias Robinson, Reviewer
CloseOption Quick Facts
Bonus Offer | $10 Welcome Gift |
---|---|
GBPUSD Spread | No fee - payouts approx. 80% (Copper) |
EURUSD Spread | No fee - payouts approx. 80% (Copper) |
EURGBP Spread | No fee - payouts approx. 80% (Copper) |
Total Assets | 20+ |
Platforms | Own |
Mobile Apps | iOS & Android |
iOS App Rating | / 5 |
Android App Rating | / 5 |
Demo Account | Yes |
Instruments | Binary Options on Forex & Cryptos |
Minimum Deposit | $5 |
Account Currencies | USD |
Pros
- CloseOption offers weekly trading tournaments with cash prizes
- The user-friendly platform is compatible with most web browsers
- Free demo account
Cons
- CloseOption is not regulated by a well-regarded trading authority
- Clients need to deposit $50,000+ to qualify for the best payouts
- Binary options are only available on fiat and digital currencies
Videforex
"Newer traders will find a lot to enjoy about trading binary options on Videforex's easy-to-use proprietary platform, as well as the broker's copy trading solution. Payouts also remain higher than most alternatives climbing to 98%."
William Berg, Reviewer
Videforex Quick Facts
Bonus Offer | 20% to 200% Deposit Bonus |
---|---|
GBPUSD Spread | Floating from 0.1 pips |
EURUSD Spread | Floating from 0.1 pips |
EURGBP Spread | Floating from 0.1 pips |
Total Assets | 35 |
Leverage | 1:500 |
Platforms | TradingView |
Mobile Apps | Android |
iOS App Rating | / 5 |
Android App Rating | / 5 |
Demo Account | Yes |
Instruments | Binary Options, CFDs, Forex, Indices, Commodities, Crypto |
Minimum Deposit | $250 |
Account Currencies | USD, EUR, GBP, AUD, RUB |
Pros
- Traders can earn up to 98% payouts on 100+ assets with the broker’s binary options, which is in line with competing brands like IQCent
- The support times are fast and reliable based on tests - few brokers offer 24/7 multi-lingual video support
- Global clients can make free and fast transfers via a wide range of payment types, from credit cards to cryptocurrencies
Cons
- No MetaTrader 4 integration
- US clients aren’t accepted due to legal restrictions
- The broker isn’t overseen by a trusted regulatory agency
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](https://www.daytrading.com/wp-content/uploads/2024/02/CMC-Forex-App-3.jpg)
![Table of FX instruments on CMC app](https://www.daytrading.com/wp-content/uploads/2024/02/CMC-Markets-Forex-App.jpg)
![Popular currency pairs on CMC Markets app](https://www.daytrading.com/wp-content/uploads/2024/02/CMC-Forex-App-2.jpg)
You can compare the selection of currency assets at our top forex apps below.
FOREX.com | NinjaTrader | eToro USA | OANDA US | DNA Markets | |
---|---|---|---|---|---|
Currency Pairs | 80+ | 50+ | 65+ | 50+ | |
Visit | Visit | Visit | Visit | Visit | Visit |
Review | Review | Review | Review | Review | Review |
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 top forex apps below.
FOREX.com | NinjaTrader | eToro USA | OANDA US | DNA Markets | |
---|---|---|---|---|---|
Fee Rating | |||||
EUR/USD Spread | 1.2 | 1.3 | 1.6 | 1.0 | |
EUR/GBP Spread | 1.4 | 1.6 | 1.7 | 1.0 | |
GBP/USD Spread | 1.3 | 1.6 | 3.4 | 1.0 | |
Visit | Visit | Visit | Visit | Visit | Visit |
Review | Review | Review | Review | Review | Review |
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](https://www.daytrading.com/wp-content/uploads/2024/02/Forex.com-App-3.jpg)
![Forex.com app interface](https://www.daytrading.com/wp-content/uploads/2024/02/Forex.com-App.jpg)
![Forex.com app currency assets](https://www.daytrading.com/wp-content/uploads/2024/02/Forex.com-App-2.jpg)
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 forex apps.
FOREX.com | NinjaTrader | eToro USA | OANDA US | DNA Markets | |
---|---|---|---|---|---|
Our Rating | |||||
iOS Rating | |||||
Android Rating | |||||
Visit | Visit | Visit | Visit | Visit | Visit |
Review | Review | Review | Review | Review | Review |
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](https://www.daytrading.com/wp-content/uploads/2024/02/AvaTrade-Forex-App-3.jpg)
![AvaTrade app forex chart](https://www.daytrading.com/wp-content/uploads/2024/02/AvaTrade-Forex-App.jpg)
![Using day trading indicators on AvaTrade forex app](https://www.daytrading.com/wp-content/uploads/2024/02/AvaTrade-Forex-App-2.jpg)
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.
![Changing forex chart in MT4 app to horizontal view](https://www.daytrading.com/wp-content/uploads/2024/02/MetaTrader-4-Forex-App.jpg)
You can compare the charting tools available at our top forex apps below.
FOREX.com | NinjaTrader | eToro USA | OANDA US | DNA Markets | |
---|---|---|---|---|---|
Charting Rating | |||||
Charting Platforms | MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral | NinjaTrader Desktop, Web & Mobile, eSignal | eToro Trading Platform & CopyTrader | OANDA Trade, MT4, TradingView, AutoChartist | MT4, MT5 |
Visit | Visit | Visit | Visit | Visit | Visit |
Review | Review | Review | Review | Review | Review |
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 recommended forex apps met our execution benchmarks below.
FOREX.com | NinjaTrader | eToro USA | OANDA US | DNA Markets | |
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Reliable Order Execution | Yes | Yes | Yes | Yes | No |
Visit | Visit | Visit | Visit | Visit | Visit |
Review | Review | Review | Review | Review | Review |
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.
![Trading signals on IG app](https://www.daytrading.com/wp-content/uploads/2024/02/IG-Forex-App-Signals.jpg)
![Client sentiment data on forex assets on CMC App](https://www.daytrading.com/wp-content/uploads/2024/02/CMC-Forex-App-Client-Sentiment.jpg)
![Setting virtual balance to demo trade forex on Plus500 app](https://www.daytrading.com/wp-content/uploads/2024/02/Plus500-Demo-Forex-App.jpg)
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 top forex apps below.
FOREX.com | NinjaTrader | eToro USA | OANDA US | DNA Markets | |
---|---|---|---|---|---|
Forex Education | Yes | No | Yes | Yes | No |
Demo Mode | Yes | Yes | Yes | Yes | Yes |
Forex VPS | Yes | No | No | No | No |
Forex Signals | SMART Signals | Yes | No | Signal Start | |
Visit | Visit | Visit | Visit | Visit | Visit |
Review | Review | Review | Review | Review | Review |
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.
Article Sources
The writing and editorial team at DayTrading.com use credible sources to support their work. These include government agencies, white papers, research institutes, and engagement with industry professionals. Content is written free from bias and is fact-checked where appropriate. Learn more about why you can trust DayTrading.com