In the digital age, Forex trading has become more accessible and convenient than ever before. While Forex trading wasn’t a lot accessible a decade back, things have changed drastically and for the better.
The introduction of different forex trading apps and platforms has made it easier for potential traders (beginners and advanced) to make informed trading decisions and rack in good profits from the transaction.
While we’d recommend relying on a forex broker Trade Nation for investments as a beginner, the apps and platforms are great if you already have an established knowledge about forex trading and can book your profits by yourself.
With more and more forex trading apps coming out on the internet, there is a steep rise in the competition among these apps. To make your search easier, we have shortlisted the top 10 forex trading apps and platforms that are worth the time.
MetaTrader 4
If you are just starting with forex trading, MetaTrader 4 is hands down the first one you will come across. It is undoubtedly the best one on the internet and for the right reasons.
- It offers a user-friendly interface that’s perfect for experienced and beginner traders. The comprehensive set of tools and resources makes market analysis a lot easier as well.
- The platform is accessible on Mac and PC and offers a variety of built-in indicators that analyze market trends and activities. It has 50+ indicators available, making trading easier for traders.
- MT4 allows traders to place various types of orders, including market orders, pending orders, and stop orders.
- The platform also provides access to real-time alerts, which help traders time the market and capitalize on different trading opportunities.
MetaTrader 5
Besides the similarities in the app’s name, even the functionalities are pretty similar. MT5 is a slightly elevated version of MT4, making trading a lot easier on the go.
- MT5 is a multi-asset trading platform, where the traders get access to a variety of trading tools and instruments, including forex, crypto, ETF CFDs, etc.
- It offers traders access to advanced trading features that include hedging and netting for improved trading flexibility and also offers traders access to different trading styles in one platform.
- The app provides Market Depth, allowing traders to see the liquidity levels and order books for different assets.
- Since it is a mobile trading app available for both Android and iOS, trading in forex becomes a lot easier and on the go.
- Much like MT4, even MT5 offers a wide range of security for the different trade transactions that you are engaging in, especially in forex trading, which is quite volatile.
Forex Hours
For those who aren’t aware, Forex trading is available throughout the day – 24×7. But, does that mean that you can trade at any point of time during the day and book your profit? The answer to that is no. This is where an app like Forex Hours comes into play.
- The highlight of this platform is that it keeps the traders aware of the market’s opening and closing times. This helps the traders plan their trades accordingly for maximum profit.
- If you are a beginner Forex trader that doesn’t have a lot of ideas about peak trading hours, this app takes care of that too.
- It covers the major Forex markets around the world, providing comprehensive information on their trading hours.
Investing.com
Another popular and highly acclaimed forex trading app that’s worth the time is investing.com. It is a mobile application, making trading easier and optimal on the go.
- It provides easy access to the economic calendar so that traders can plan things for the year.
- It provides access to all the latest news and updates surrounding the forex market.
- The app covers over 30,000 financial instruments, which indicates a comprehensive selection of stocks, indices, commodities, currencies, and more.
NetDania Stock and Forex Trader
Although quite an underrated forex trading platform, we’d highly recommend you give this a go. This is perfect for beginner traders that don’t have a lot of understanding about the economic state of the market and want to stay informed about the price quotes too.
- The app harbors 20,000+ financial instruments for an easy trading experience.
- The app provides traders access to real-time news, which helps time the market and make relevant financial decisions.
- The platform also provides the trader access to customized trading alerts, which streamline the whole trading experience.
- The app also provides access to the annual economic calendar.
Forex.com
As the name suggests, Forex.com is another popular and highly distinguished trading platform that’s most definitely worth the time. It is available on both iOS and Android platforms, making it a lot more accessible too.
- It offers low spreads, which reduces the trading costs of the traders, making the whole experience a lot more streamlined and lucrative.
- The well-functional mobile trading platform is highly accessible too, making it easier for traders to execute their trades on the go.
- The app offers advanced charting tools and features that enable traders to perform in-depth technical analysis.
- The app provides functionality for managing funds, including deposits, withdrawals, and account monitoring.
TD Ameritrade Thinkorswim
Another underrated but high-quality forex trading platform that’s worth looking into is TD Ameritrade Thinkorswim. Besides an intuitive interface, the platform is accessible via a mobile app, making it easy to use on the go.
- It features an intuitive and user-friendly interface, making it easy for traders to navigate and execute trades.
- It supports multi-asset trading, which means that the traders cannot just indulge in forex trading but other assets like crypto as well.
- It has an integrated news alert system to keep the traders informed about the market trends and economic situation.
Forex Calendar, Market & News
If you know about MyFXBook.com, it is one of their subsets. The platform is used by millions of traders every month, so reliability will never be a concern.
- It offers access to a variety of real-time features, including access to 60 Forex currency pairs, market analysis, technical indicators, etc.
- The app also has an economic calendar laid out for easy planning of trading throughout the year.
- It also supports community outlook and the exchange of trading insights and ideas.
Trade Interceptor
Another popular mobile app for forex trading that’s worth the time is Trade Interceptor. It is available for both Android and iOS platforms and makes trading a walk in the park.
- It supports over 160 chart indicators to streamline trading practices.
- It supports 14+ advanced chart types for easy forex trading for beginners.
- It supports live and streaming prices of the different price charts and price quotes.
Forex Game
The last on the list is Forex Game, which is another mobile application. It is a Forex simulation platform that helps you learn the ropes of Forex trading without any interruptions.
- It is a 100% free financial simulator app for Forex traders.
- It doesn’t require separate registration and is pretty simple to use, thanks to the clean and minimal UI.
- The data available on the platform is consistently updated every 5 seconds to keep the traders posted about the latest updates.
Conclusion
If you want to get started with Forex trading, these are the top 10 apps and platforms that are worth looking into. All of these apps are reliable and certified, which means that your personal or banking information will remain encrypted and won’t be jeopardized.
