10 Best Forex Trading Apps reviewed and compared [Sponsored]

Due to hectic lifestyles in an ever-evolving world, traders are often not able to remain seated in front of their desktop terminals for prolonged periods and through this, the popularity of mobile trading through applications has increased drastically.

With mobile trading apps, traders can remain connected to their trading account and actively trade at anytime from anywhere in the world with the benefit of receiving notifications of open and favourable positions while on the go.

Here then are the best forex mobile trading apps:

1. Metatrader 5

Free to download

Compatible with iOS and Android devices

Overall rating: 4.5/5 (Google Play) and 4.7/5 (App Store)

The MT5 mobile app has some comprehensive features which include, but is not limited to:

• Real-time quotes
• All types of trade orders
• Full set of trade execution modes
• Detailed trading history
• Free financial news
• Technical analysis
• Access to a variety technical indicators and analytical objects
• User-friendly interface and highly customisable charts.
• The MT5 application allows traders direct connection to the servers of their broker to
  receive stock prices, currency exchange rates and the possibility of analysing financial
  markets by using charts and technical indicators.

View the Best FREE Forex Trading Apps

2. Open TickTrader

Free to download

Compatible only with Android devices

Overall rating: 3.4/5 (Google Play)

Foden TickTrader provides traders with real-time market data which includes pricing and charts not only for existing FXOpen traders, but new traders who register an account as well.

By using the mobile application, traders are able to receive the latest economic and financial news and currency rates through the app or by setting push notifications to alert the trader as they occur.

Features of this app include:

• Forex, cryptocurrency demo or live account access
• Live quotes that have depth of market
• Main operations with market as well as pending orders
• Trading history logs
• Advanced tools that can be used for comprehensive technical analysis
• Forex market news, FXOpen broker news.

3. AvaTradeGo

Free to download

Compatible with iOS and Android devices

Overall rating: 3.5/5 (Google Play) and 3.4/5 (App Store)

Provides a comprehensive, smooth trading experience in addition to featuring the following:

• Intuitive management tools
• Clear charts
• “Zoom” function for viewing details, and
• Many more helpful

The AvaTradeGo application makes trading so much simpler as it provides a step-by-step guide on opening trades, it provides feedback on the trader’s activity in addition to providing support at any time that the trader needs it.

From the mobile app, the trader can manage their MetaTrader 4 and 5 accounts along with switching between demo accounts and real accounts.

4. FxPro

Free to download

Compatible with iOS and Android

Overall rating: 4.6/5 (Google Play) and 5/5 (App Store)

This trading app allows traders to manage multiple trading accounts with ease in addition to opening new accounts, verifying them, viewing trading history on all accounts, making a deposit, transferring funds and the withdrawal thereof.

Features of this mobile trading app include:

• Fast sign up
• Open and manage Metatrader 4, Metatrader 5 and cTrader accounts
• Quick and easy deposit, transfer, and withdrawal
• Interactive economic calendar
• Secure FxPro Wallet
• Smart push-notifications
• Secure login using a user generated passcode and fingerprint recognition.

5. NetDania

Free to download

Compatible with iOS and Android

Overall rating: 4.5/5 (Google Play) and 4.7/5 (App Store)

NetDania is a forex and CFD trading app that provides access to over 2000 financial instruments, more than 10,000 real time stocks and indices in addition to the following features:

• A variety of currency pairs
• Charts
• Demo and live trading
• Build algorithms and set alerts
• Real-time news
• An economic calendar
• Real-time streaming tick by tick quotes
• Interbank forex rates, and more.

The NetDania mobile application works in conjunction with selected brokers and is a platform through which traders can connect to their broker along with the account, whether live or demo, that they have registered with a broker.

6. Forex Time FXTM

Free to download

Compatible with iOS and Android devices

Overall rating: 3.7/5 (Google Play) and 5/5 (App Store)

One of the key features to this mobile trading app is that it supports automated forex trading and the platform is designed to cater for both beginner and professional traders.

When trading through use of the mobile app, traders are provided with flexible leverage and both fixed and variable spreads. Another advantage is that withdrawal requests are processed as soon as a trade has been completed.

In addition, this mobile trading app has the following features:

• Passcode and fingerprint security
• Quick and hassle-free deposit and withdraw options
• Conversion rates calculator
• Trading signals
• Pivot points strategy
• Market forecast
• News and market analysis
• Educational tools such as webinars, seminars, and e-books
• Access to a trading journal
• Superb support through instant chat, and more.

7. TD Ameritrade

Free to download

Compatible with iOS and Android devices

Overall rating: 3.4/5 (Google Play) and 4.5/5 (App Store)

One very noteworthy feature of using this mobile app is that login security along with security in trading is advanced by being able to register the trader’s fingerprint to log into the app and using it again when executing trades.

Upon opening the app, the trader will have access to their account overview, and it can easily be switched by pressing the menu options in the top right corner. With the TD Ameritrade app, traders have access to the following features:

• Watchlist
• Positions
• Orders
• Balances
• Alerts
• Chat Rooms
• Trader TV
• Messages, and
• Economic calendar

This mobile trading platform is easy to use and navigate, trades are easy to execute and close and traders have the option to trade a variety of financial instruments.

8. Plus500

Free to download

Compatible with iOS and Android devices

Overall rating: 4/5 (Google Play) and 4.1/5 (App Store)

Traders using the Plus 500 mobile app have access to a wide range of financial instruments in which they can trade at a competitive cost with low spreads and zero commissions charged on trades.

The mobile app makes opening and closing positions easy and the execution speed is above average when compared to that of other brokers.

Traders have various options when it comes to charting along with an array of technical indicators that can be added to charts along with a variety of time frames in which charts can be viewed.

9. Naga Trader

Free to Download

Compatible with iOS and Android

Overall rating: 3.3/5 (Google Play) and 4.3/5 (App Store)

The Naga Trader app is a very minimalistic and amazingly simple app to use. It allows traders to trade most asset classes and it provides ample opportunity for both social trading and robo-advisor capabilities.

This caters specifically for traders who want to elevate their trading by making use of automatic trading strategies.

Traders can trade stocks, CFDs, ETFs, Cryptocurrency, Indices, and commodities with an array of forex pairs. The average spread on the EUR/USD currency pair is 1.9 pips and traders have access to leverage up to 1:30.

10. Trading 212

Free to download

Compatible with iOS and Android devices

Overall rating: 4.5/5 (Google Play) and 4.7/5 (App Store)

Signing up for an account using the mobile app is a quick and straight forward procedure. The app features a user-friendly and minimalistic interface that has quick options to switch between the live quotes of several financial instruments.

The mobile app allows traders to set up price alerts, access the forum and reports and in addition has training videos which can be accessed from the menu.

Open positions can easily be monitored by selecting the graph tab at the bottom of the screen and the app also features robo-trading and a built in economic calendar.

Final thoughts

There is a great variety of forex trading applications available and it comes down to which one will better cater for the needs of the trader. Each trading app has distinctive features and provides traders with access to a variety of offerings.

When choosing a mobile app through which to trade forex, it is imperative that traders narrow down the list, download the app, open a demo account, and test out the features hands-on in a risk free trading environment.

This article is sponsored by SA Shares, a portal for JSE-listed shares.

Featured image: TheDigitalWay via Pixabay