In modern life, our entire existence lives on our smartphone. Smartphone in work, connect, and manage money all from our pocket. Trading is no different. The old days of being chained to a desk are gone. For the modern trader, a quality forex trading app is as important a tool as you can have.
But, with so many to choose from in the app store, how do you know which is the very best? This guide will try to help. We’ll show you what to look for, what features matter, and how a quality forex trading app can make your trading journey easier and more successful.
What Makes a Forex Trading App “The Best”?
Not all apps are equal. The very best ones are more than a simple “buy” and “sell” button. It needs to be like a complete trading station in your pocket.
As you start to look for the best apps for forex trading, look for these key features:
- It should be simple to use. The layout should be clear and the buttons should be easy to find.
- It must have powerful charts. You need to access great charting tools and indicators (even on a small screen).
- The app must be fast and stable. The app will never freeze or crash (especially while in the middle of a trade).
- It must be very secure. A secure forex trading app is one of the most important criteria in keeping your money safe.
- The app must include full account control. You should be able to deposit and withdraw money directly from the app.
The Two Main Types of Trading Apps
As you begin searching, you will probably notice that most of the trading apps fit into two categories.
- Proprietary Apps (Custom-built): These are one-of-a-kind apps created by a specific broker that often have their own unique look and features that you will not find anywhere else website. These are built to integrate smoothly into their broker’s platforms.
- MetaTrader Apps (MT4/MT5): The most popular forex trading apps in the world! MetaTrader is a universal platform that connects to thousands of different brokers. Many traders prefer MetaTrader because they are so used to it and have relied on it for many years.
Both styles of apps can be found in the top 10 forex trading apps. Both will be a good option based on your preference.
A Look at Top Apps and the Brokers Behind Them
A great forex trading platform always has a high-quality broker behind it. Here are a few examples of highly rated brokers that deliver a quality mobile experience.
- The highest rated app is usually the easiest to use. Brokers like Capitalix and SmartSTP are known for having simple, user-friendly apps that are perfect for beginners.
- For traders who need power and speed on the move, the most reliable trading apps are the best. Brokers such as FX Road and Trade EU Global, are known for their dependable, high-performance mobile platforms.
- When it comes to professional quality trading platforms, a great app will also have advanced tools. Mobile apps from brokers such as CapPlace and ECN broker FirstECN have all of the features serious traders demand.
- Innovation is also important, especially for the best forex trading apps android. Brokers like SuxxessFx, Tradgrip, and Algobi are known for new and smart mobile trading app features for their clients.
The #1 Most Important Feature: Security
The security of your account and money is the most important benefit of all the features. You need to know and feel that your money and personally identifiable account information are safe.
A secure forex trading app will always have these features:
- Two-Factor Authentication (2FA) adds an extra layer of protection each time you log in.
- Biometric Login lets you log in using your fingerprint or face which is easy and ultra-secure.
- Full Data Encryption protects your personal information from hackers.
Your trading app should provide as much protection as your banking app. Don’t ever sacrifice the security of your trading app.
Your Checklist for Choosing an App
Are you ready to find the right app? Use this simple and straightforward broker selection checklist to help you make your decision.
- Read the App Store Reviews. This is a good first step. Read what people are saying about the app. Look for mentions regarding speed or crashes, which are great for finding the top forex trading apps in either android or iOS.
- Test the Demo Account on the App. This is the most significant step. Get the app and test drive a free demo account. Notice how it feels to trade, and use the charts on your phone.
- Check for Your Must-Have Features. Does the app have the charting tools you like? Does it have price alerts? Does it seem secure enough to meet your needs?
- Consider the Broker. The app is only as good as the broker, and it is best to use a trustworthy broker with low trade costs.
Conclusion
Your mobile device builds an incredibly strong link between your trading accounts and the global markets. A fast, easy, and secure forex trading app enables you to trade at any time and from anywhere.
Sometimes finding the ideal forex trading app for you can be challenging. The most important thing is that you are investigating the correct features and, maybe most importantly, testing it out for yourself. Download a few demo trading apps today, and discover which one has the best appearance, and feel, for your trading style.
FAQs
- Is it safe to trade Forex on a mobile app?
Yes, it is very safe, as long as you choose a broker with a secure forex trading app. Always look for features like two-factor authentication (2FA) and use a strong password.
- Can I do everything on a mobile app?
Yes. The top apps for forex trading today are incredibly powerful. They allow you to analyze charts, place trades, and manage your account, including deposits and withdrawals.
- What are the most important mobile trading app features?
The most important features are a simple design, powerful charting tools, a fast and stable connection, and strong security.
- What is the difference between a broker’s app and the MT4/MT5 app?
A broker’s app is custom-built for their services. The MT4/MT5 apps are universal platforms that can connect to many different brokers. Both can be excellent choices.
- How do I find the best forex trading app for me?
The best way is to use a broker selection checklist and test a few options. Open free demo accounts and see which app feels the most comfortable and has the features you need.