Best Forex Apps

Want to trade forex from your smartphone? We review the 10 best forex apps for 2021 to help you start trading today!

Best Forex Apps 2021 List

Here are the 10 best forex apps to use in 2021:

  • eToro – Overall Best Forex App in 2021
  • Capital.com – Best App for Forex Trading with Exotic Currency Pairs
  • VantageFX – Best Forex App for ECN Accounts
  • AvaTrade – Best Forex App for Options Trading
  • Libertex – Top Forex Trading App with No Spreads
  • Interactive Brokers – Cheapest Forex Trading App in 2021
  • Forex.com – Advanced Mobile Trading Platform for Forex
  • TD Ameritrade – Top US-based Forex Trading App
  • FXCM – Best Forex Trading App for Beginners
  • XM – Best MetaTrader 4 and 5 Forex Trading App

Best Online Forex Apps Reviewed

Let’s take a closer look at each of the 10 best forex apps so you can decide which is right for you.

1. eToro – Overall Best Forex App in 2021

etoro brokereToro is our top pick for any traders looking for the best forex app in 2021. This mobile-friendly broker offers more than 45 currency pairs to choose from and zero commissions. Spread start from just 1.0 pips for the popular EUR/USD trading pair, making eToro one of the most affordable trading apps around.

This broker has its own trading platform that was built from the ground up with mobile trading in mind. The app is incredibly easy to use, with a dashboard that lets you easily monitor all your holdings and get an overview of the market. You can also keep tabs on the forex market with a scrollable market news feed and economic calendar.

eToro’s charting software isn’t the most comprehensive we’ve seen, but it provides an excellent experience on small smartphone screens. You can turn your phone to launch full-screen charts and access more than 100 technical studies with just a few taps. eToro also includes professional market analysis from in-house traders, which is very helpful when you’re trying to gauge the market.eToro Forex AppAnother thing we love about eToro is that it has a built-in social trading platform. You can follow other traders to see what currency pairs they’re buying and selling, as well as start discussions about the latest market news. eToro also supports copy trading, so you can set your portfolio on autopilot by copying the moves of more experienced forex traders.

The eToro forex app is available for iOS and Android devices, or you can access the web platform through any browser. This broker is regulated by the UK’s Financial Conduct Authority (FCA) and offers 24/5 customer support. You can open a new account with just a $200 minimum deposit.

Pros:

  • No commissions and very competitive spreads
  • Mobile app includes a dashboard with market overview
  • Built-in news feed and economic calendar
  • Social trading network with copy trading
  • Regulated by the UK FCA

Cons:

  • Limited technical analysis tools

67% of retail investor accounts lose money when trading CFDs with this provider.

2. Capital.com – Best App for Forex Trading with Exotic Currency Pairs

Capital.comCapital.com is another top forex app that brings a lot to the table for traders. To start, this broker has over 140 currency pairs available to trade. That means you get access to all the major and minor pairs, plus dozens of exotics that most other trading apps don’t offer. If you want to trade highly volatile exotic currency pairs, Capital.com is the best platform for the job.

This free forex trading app also stands out for its low fees. Capital.com doesn’t charge any commissions for forex trading and spreads start at just 0.7 pips. On top of that, there are no deposit, withdrawal, or inactivity fees to worry about.

Capital.com’s mobile platform is unique to the broker and includes a few features that we think traders will love. One especially neat tool is an AI algorithm that automatically looks at your trade history to find patterns. The software will then use this data to suggest ways that you can improve your win rate and minimize your trading risk.Capital.com Mobile Forex App

This broker also puts an emphasis on education. Capital.com has dozens of videos and tutorials on its website to help you start trading forex. Plus, the broker even has a mobile app that’s dedicated to teaching you how to trade. It includes interactive lessons and quizzes to test your knowledge.

Capital.com is regulated by the UK FCA. You can open a new trading account with just $20 and the broker accepts credit cards, debit cards, and bank transfers. Capital.com’s support team is available 24/7 if you ever need help with your account.

Pros:

  • Trade over 140 forex pairs
  • Spreads starting from 0.7 pips
  • AI algorithm helps you trade smarter
  • Tons of educational resources including a dedicated app
  • 24/7 customer support by phone, email, and live chat

Cons:

  • Exotic forex pairs can have very high spreads

71.2% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider.

3. VantageFX – Best Forex App for ECN Accounts

VantageFX logoVantageFX is one of the best forex apps for traders who want to open an ECN account. ECN (electronic communications network) accounts offer ultra-low spreads and fast trade execution to help you stay ahead of the market.

With VantageFX’s Raw ECN account, you get access to 44 forex pairs with spreads as low as 0.0 pips. The broker charges a commission of $3 per lot per side, which is fairly inexpensive for high-volume traders. Plus, you can trade major forex pairs with leverage up to 500:1.

It’s worth noting that VantageFX also offers a Standard account that’s 100% commission-free. Traders with this account will pay a spread starting from 1.4 pips and you’ll still have access to 500:1 high leverage. VantageFX uses straight-through processing for Standard accounts, so trade execution is still very fast.VantageFX Forex App

This broker has its own easy-to-use trading app for iOS and Android devices to help you navigate the market. It only includes a handful of technical studies, but we loved how easy the full-screen technical charts are to customize on a mobile device. If you need more technical firepower, VantageFX integrates with the popular MetaTrader 4 and 5 platforms.

VantageFX is regulated by the UK FCA and the Cayman Islands Monetary Authority (CIMA). The broker offers 24/5 customer support by phone and email.

Pros:

  • ECN accounts with spreads from 0.0 pips
  • Access leverage up to 500:1
  • Standard accounts use straight-through processing
  • Supports MetaTrader 4 and 5 trading apps
  • Regulated by the UK FCA

Cons:

  • Higher than average spreads for Standard account users

Your capital is at risk.

4. AvaTrade – Best Forex App for Options Trading

AvaTrade Forex Broker LogoAvaTrade is another top forex trading app and, we think, one of the best forex apps for iPhones. The AvaTradeGO app is incredibly easy to use and puts watchlists, technical charts, and advanced order entry options at your fingertips. We particularly like that you can enter an order while viewing a chart within the mobile app – something that many other apps don’t enable.

One of the most notable things about AvaTrade is that it offers vanilla options trading on major and minor forex pairs. AvaTrade has a dedicated mobile app for options trading called AvaOptions. With this app, you can quickly evaluate single- and multi-leg options strategies and see your estimated likelihood of profiting from a trade.AvaTradeGO Forex App

AvaOptions is separate from the main AvaTradeGO app, as well as from AvaTrade’s other app: AvaSocial. AvaSocial is a social trading network that enables you to follow other traders and share ideas. You can also set up copy trading through AvaSocial, and the platform will let you copy options traders.

This app offers trading on 55 forex CFDs and enables you to trade with leverage up to 30:1. Spreads are a bit pricey – they start at 1.6 pips for the GBP/USD trading pair – but there are no commissions and no deposit or withdrawal fees. AvaTrade’s inactivity fee, which kicks in after 3 months without trading, is also more expensive than some competitors.

AvaTrade is regulated by the UK FCA and the Australian Securities and Investment Commission (ASIC). The platform offers 24/5 customer support and all accounts come with negative balance protection. You can open a new forex trading account with a $100 minimum deposit.

Pros:

  • Supports vanilla options trading for forex
  • Dedicated AvaOptions mobile app for options trading
  • Social trading through AvaSocial app
  • 24/5 customer support
  • Regulated in the UK and Australia

Cons:

  • High spreads and inactivity fee
  • Must use multiple apps to access all features

Your capital is at risk.

5. Libertex – Top Forex Trading App with No Spreads

libertex brokerLibertex is one of the best forex apps for Android and iPhone if you don’t want to pay spreads. This broker eliminates spreads for all accounts and instead charges simple percentage-based commissions. While these cost around as much as spreads, the advantage is that you always know how much you’ll pay going into a trade because the commissions don’t vary over time.

Libertex has its own mobile trading app that we found to be very easy to use. It comes packed with technical studies and other tools like a market news feed and economic calendar. We missed having price alerts, but if you’re willing to keep an eye on the market throughout the day then this won’t be a problem.Libertex Trading Platform

For more advanced traders, Libertex also supports trading with the MetaTrader 4 and 5 apps. These platforms enable you to create and test your own trading strategies with historical data and support forex signals. The only catch is that these apps have a much steeper learning curve than the Libertex app.

Libertex is very affordable, especially since you can open a new trading account with just a $10 deposit. The app offers trading on over 60 currency pairs with leverage up to 30:1 for major pairs.

Libertex is regulated by the Cyprus Securities and Exchange Commission (CySEC) and is widely considered trustworthy. If you need help, you can get in touch at any time by email.

Pros:

  • Fixed commissions rather than variable spreads
  • App includes news feed and economic calendar
  • Supports trading with MetaTrader 4 and 5
  • Trade over 60 forex pairs
  • Regulated by CySEC

Cons:

  • No price alerts in the Libertex app

83% of retail investor accounts lose money when trading CFDs with this provider.

6. Interactive Brokers – Cheapest Forex Trading App in 2021

Interactive Brokers LogoInteractive Brokers is one of the most popular forex apps in the US. Part of the reason for that is because it’s also one of the cheapest forex apps on the market.

Interactive Brokers charges spreads as low as 0.2 pips for major forex pairs like GBP/USD. That’s a fraction of what most of the other platforms we reviewed charge for trading. There are no hidden fees, but you’ll want to beware that each trade carries a minimum charge of $2. So, this broker is best if you’re trading at least $100,000 worth of forex at a time.

The Interactive Brokers app blends the capabilities of its two online platforms, Client Portal and Trader Workstation. On Android and iOS devices, you can access fairly advanced charts and order entry options. However, you won’t get the full analytical power of Trader Workstation. While we’d recommend Interactive Brokers for advanced traders if you’re using a desktop, it’s actually fairly beginner-friendly if you’re sticking with the mobile app.Interactive Brokers Forex App

The app has a very wide selection of currency pairs to trade – over 100 in total. Execution is incredibly fast thanks to the fact that Interactive Brokers uses straight-through processing and delivers real-time quotes from 17 different liquidity providers.

Interactive Brokers is based in the US and is regulated by the Securities and Exchange Commission (SEC), Commodities and Futures Trading Commission (CFTC), and the Financial Industry Regulatory Authority (FINRA). There is no minimum deposit required to open a new trading account.

Pros:

  • Spreads as low as 0.2 pips for forex trading
  • Trade over 100 currency pairs
  • Real-time quotes from 17 liquidity providers
  • Mobile app is very beginner-friendly
  • Regulated by the SEC, CFTC, and FINRA

Cons:

  • Minimum $2 charge per trade

Your capital is at risk.

7. Forex.com – Advanced Mobile Trading Platform for Forex

Forex.comForex.com is one of the best forex apps for iPhone and Android if you’re an experienced trader already. The app features a very comprehensive technical charting interface that includes nearly a dozen different chart types. You also get access to pivot point analysis, a type of trading strategy that looks for price reversals.

Notably, Forex.com also integrates with MetaTrader 4 and 5. So, you also have the ability to backtest trading strategies and use forex signals as part of your analysis workflow. We found that it’s helpful to use both the Forex.com and MetaTrader apps for advanced analysis, although this does introduce more complexity into trading.Forex.com Forex App

The Forex.com app offers trading on over 80 currency pairs, including dozens of exotics. Major pairs trade with leverage up to 50:1, which is higher than most other US brokers offer.

Forex.com isn’t the cheapest forex app we reviewed, but it is fairly competitive. You won’t pay a commission to trade and spreads start at just 1.0 pips for the EUR/USD trading pair. There are no deposit or withdrawal fees and you can open an account with a $50 deposit.

Forex.com is regulated by the CFTC in the US and by the FCA in the UK. The broker is widely used and is considered to be one of the most trustworthy forex trading apps on the market today.

Pros:

  • Trade over 80 forex pairs
  • Comprehensive technical analysis on mobile
  • Includes pivot point analysis
  • No commissions and spreads from 1.0 pips
  • Regulated by the CFTC and FCA

Cons:

  • Steep learning curve for newer traders

Your capital is at risk.

8. TD Ameritrade – Top US-based Forex Trading App

TD Direct LogoTD Ameritrade is our top pick for US traders in search of the best forex app. This full-service broker offers surprisingly low spreads, from just 1.0 pips for most major currency pairs. TD Ameritrade doens’ charge commissions and there are no hidden fees.

TD Ameritrade offers two different apps to trade with, but only one of them supports forex trading. This is the Thinkorswim app, which is one of the most powerful trading apps we’ve ever seen. It has a built-in scripting language that enables you to create your own technical studies. It also supports strategy backtesting, forex signals, price alerts, and more.

The catch is that Thinkorswim can be very tough to get started with, especially if you’re diving right into the mobile app rather than starting with the desktop platform. The interface is more crowded than what some of the best forex apps for Android and iOS use, and the sheer volume of technical indicators can be overwhelming. So, this app is best suited for experienced traders.Thinkorswim Mobile App TD Ameritrade

TD Ameritrade doesn’t require a minimum deposit to open a new account. However, note that you must use a bank transfer to fund your account – you cannot use a credit card or debit card like you can with most other forex apps.

This platform has over 11 million customers in the US, so it’s fair to say it’s widely trusted. TD Ameritrade is regulated by the CTFC and FINRA and holds a US banking license. The broker also offers 24/7 customer support.

Pros:

  • Trusted by over 11 million users in the US
  • Extremely powerful technical analysis features
  • Spreads from 1.0 pips
  • No minimum deposit required
  • Regulated by the CFTC and FINRA

Cons:

  • Thinkorswim app is very complex
  • Cannot make credit/debit deposits

Your capital is at risk.

9. FXCM – Best Forex Trading App for Beginners

FXCM is one of the best forex trading apps for beginners. That’s because the app is extremely well-designed and intuitive to use. Within the watchlists, for example, you’ll find buttons to buy, sell, or create a new order for any forex pair you’re monitoring. Another neat feature is that the app offers customized analytics to help you dive deeply into your trade results.

FXCM also offers more than just its own app. This forex broker allows you to trade with popular platforms like NinjaTrader, TradingView, and MetaTrader 4, all of which give you the ability to create your own trading strategies. TradingView in particular stands out for the quality of its charts on mobile devices.FXCM Forex App

You can also take advantage of social trading through FXCM thanks to its integration with ZuluTrade. The ZuluTrade app lets you follow other traders as well as copy more experienced forex traders, so it offers a simple way to put your portfolio on autopilot.

FXCM offers trading on over 40 forex pairs with leverage as high as 500:1. The app also carries what FXCM calls ‘forex baskets.’ These are sets of 4 currency pairs that you can buy together, making it easy to hedge your bets on the forex market.

This forex app is regulated by the UK FCA. You can open an account with just $50 and spreads start as low as 0.7 pips. If you need help getting started, you can contact FXCM’s support team 24/5.

Pros:

  • Very user-friendly mobile app
  • Supports NinjaTrader, TradingView, and MT4
  • Social trading through the ZuluTrade app
  • Get started with $50 minimum deposit
  • Regulated by the FCA

Cons:

  • Must use multiple apps to access all features

Your capital is at risk.

10. XM – Best MetaTrader 4 and 5 Forex Trading App

XM logoXM is a great all-around forex broker that stands out for offering the MetaTrader 4 and 5 platforms for trading. The integration is more seamless than what other forex brokers offer in part because XM doesn’t also have its own trading app on top of MetaTrader. So, all of the platforms’ resources are designed to work with these apps.

Some of these resources include actionable trade ideas for you to act on. XM analysts find forex pairs that are poised for price movements and then tell you everything you need to know to execute a trade. The broker also offers market commentary and special reports to help you navigate the market.

One thing that mobile traders will want to be aware of is that you’ll need to go through your phone’s web browser to access a lot of this information. Since XM doesn’t have its own mobile app, trade ideas and reports are all found online.MetaTrader 4 app for XM

XM offers trading on over 55 currency pairs. Spreads are higher than average and start at 2.2 pips for the GBP/USD trading pair. However, XM makes up for this by eliminating commissions along with deposit and withdrawal fees.

XM has been operating for over 10 years and is regulated by CySEC. You can open a new forex trading account with as little as $5.

Pros:

  • Tight integration with MetaTrader 4 and 5
  • Includes daily forex trade ideas
  • Market analysis and special reports
  • Trading on 55 forex pairs
  • Regulated by CySEC

Cons:

  • Most analysis is only available online
  • Higher than average forex spreads

Your capital is at risk.

Forex App Fees Comparison

Now that you know more about the 10 best forex apps, let’s see how their fees stack up against one another.

Fee Type GBP/USD Fee Inactivity Fee Deposit/Withdrawal Fee
eToro Spread 1.4 pips $10 per month after 12 months $5 per withdrawal
Capital.com Spread 1.4 pips None None
VantageFX Spread (Commission for ECN account) 1.6 pips None None
AvaTrade Spread 1.6 pips $50 per quarter after 3 months of inactivity None
Libertex Commission 1.3 pips $5 per month after 6 months None
Interactive Brokers Spread 0.2 pips ($2 minimum) $10 if less than $10 in commissions per month None
Forex.com Spread 1.3 pips $15 per month after 12 months None
TD Ameritrade Spread 1.0 pips None None
FXCM Spread 1.2 pips $50 per year after 12 months None
XM Spread 2.2 pips $15 + $5 per month after 12 months None

How to Choose the Best Forex App for You

With so many forex trading apps to choose from, how do you decide which platform is right for you? Let’s take a look at some of the main things you need to consider when picking the best forex app.

Safety

One of the first things to think about when choosing a forex app is whether or not it’s trustworthy. After all, you’ll be depositing your money with your chosen app and relying on your broker to execute your trades fairly.

That’s why we recommend always using a forex app that is regulated by a top-tier financial watchdog. Top regulators include the FCA in the UK, CySEC in Europe, ASIC in Australia, and the CFTC in the US. All of the forex apps we reviewed are regulated by one or more of these authorities.

Range of Forex Pairs

The next thing to think about is what forex pairs you can trade with an app. Almost all forex apps give you access to the full range of major and minor forex pairs, which is around 30 instruments in total. If you only plan to trade these popular currency pairs, then you might not care how many exotics an app offers.

eToro Forex Pairs

However, if you want the ability to trade more volatile exotic forex pairs, then you need to look at which ones an app offers. Capital.com has the widest selection of exotics, with over 140 forex pairs available for trading.

Fees & Commissions

One of the biggest differences you’ll find between forex apps is how much they charge for trading.

Let’s start by talking about trading fees. These typically come in the form of spreads or commissions, and some brokers charge a combination of both types. Spreads can vary throughout the day as forex prices fluctuate, while commissions are usually fixed. Whether a spread-based fee or commission-based fee will be cheaper for you depends on how much volume you typically trade.

Most forex apps also charge some account fees, such as deposit and withdrawal fees or inactivity fees. If an app charges an inactivity fee, think about whether you’re likely to trigger it and how easy it is to avoid. These fees can add up over time if you’re not careful.

Forex Tools & Features

Another major difference between the top forex apps is in what tools they offer for trading, particularly on mobile devices.

To start, look at the charting interface. The best forex apps should provide you with several chart types and dozens of built-in technical studies to help you analyze price movements in the forex market. You should also be able to view charts in full-screen mode on your mobile device so that it’s easier to see patterns.

You should also look for tools that help you monitor the forex market as a whole. Watchlists, market news feeds, and economic calendars are all extremely helpful in this respect. Some brokers also offer price alerts, which can be very helpful if you want to be alerted every time a forex pair is making a big move.

One trading feature we particularly like to see in the best forex apps is social trading. Having access to a social trading network makes it easier to interpret price action and to stay on top of the market. By talking with other traders and watching how they trade, you can also learn new strategies and improve your own trading success.eToro Mobile App Social Trading

Past performance does not guarantee future results.

Finally, be sure to look for a forex simulator app built into your broker’s platform. A simulator app enables you to practice trading in a safe environment without committing real money. This isn’t just for beginners – experienced traders use forex demo accounts all the time to test out new strategies and ideas.

User Experience

The mobile user experience is also incredibly important when choosing the best forex trading apps. If your forex app isn’t easy to use, you won’t want to use it – or worse, you’ll fall behind a trade and end up losing money.

The best way to evaluate how user-friendly a forex app is to trade with is to actually use it. Most brokers offer demo accounts so that you can take their platform through its paces and see whether it feels comfortable in your hands. We recommend paying close attention to the menus and charting interface.

You should also try entering a demo order. Some brokers have a very simple order entry system where you can simply choose a few options and then swipe to trade, while others make it much more complicated to enter a position.

Payment Methods

Another thing to consider is what payment methods a forex app accepts. Most apps allow you to pay with a wide range of methods, including debit cards, credit cards, and bank transfers. eToro goes even further by accepting e-wallets like PayPal, Neteller, and Skrill.

Most forex apps require a minimum deposit when you open a new account. Be sure to check how much this deposit is, since it can vary widely between apps.

Customer Service

While most forex apps are designed to be easy enough to use that you never need help with your account, it’s important that help is available when you need it.

The best forex apps offer at least 24/5 customer support since the forex market trades on a 24/5 schedule. Look for phone and live chat support, since these communication methods let you get in touch with the support team right away.

How to Get Started with a Forex App

Ready to start trading with the best forex app? We’ll show you how to sign up for an eToro account and place your first trade.

Step 1: Open an eToro Account

To open a new account with eToro, search for the eToro app in Google Play or the Apple App Store and install it on your device. Open it up and click ‘Join Now’ to create a new account. You’ll need to provide your name and email, plus a new username and password.eToro Mobile App on Google Play

Step 2: Verify Your Identity

eToro is regulated by the FCA, which requires all forex traders to verify their identity. You can complete this step through the app by taking a photo of your driver’s license or passport. You’ll also need to snap a photo of a recent utility bill or bank statement that shows your address.

Step 3: Deposit Funds

Next, it’s time to add funds to your new trading account. eToro requires a minimum deposit of $200, which you can pay by credit card, debit card, PayPal, Neteller, Skrill, or bank transfer.

Step 4: Start Trading

Now you’re ready to start trading. In the eToro app, search for ‘EUR/USD’ or another forex pair to trade. When it appears, tap on it and then tap ‘Trade’ to open a new order form.eToro Buy EUR USD Mobile App

In the order form, enter the amount of money you want to invest in the forex trade. You can also enter a stop loss or take profit level to manage your risk. When you’re ready, tap ‘Open Position’ to open your first forex trade.

Conclusion

Trading with the best forex app can help you stay one step ahead of the market and make money trading forex. There are dozens of top apps to choose from, so it’s important to find a forex app that offers excellent trading tools and low fees.

Ready to start trading forex? Click the link below to trade with the eToro forex app today!

eToro – Overall Best Forex App in 2021etoro broker

67% of retail investor accounts lose money when trading CFDs with this provider.

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