Top 9 best forex trading apps for iOS & Android in 2024

A panel of Invezz experts rate & compare 60+ of the best forex apps to find the perfect way to trade forex from your phone.
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Reviewed by:
Updated: May 8, 2024
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Trade your favourite markets with our top-rated broker, Plus500.

4.5/5

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

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With billions of dollars being traded every day, the forex market is the largest and most liquid financial market in the world. Trading from your phone offers a convenient way to get involved in this busy world of currency trading.

To help you choose the right app to sign up to, our experts tested every app on offer from leading forex brokers and gathered user feedback to find the best forex trading app of 2024. Each expert then rated their favourite apps and we compiled all of their rankings to generate a final list of the best apps out there.

We know that the key to any great trading experience is simple: an app needs to be simple to use, it needs to boast plenty of features, and it needs to be a secure platform that you can trust with your money. So we set out to find the perfect app according to these criteria.

Read on to find out who ranks as our best forex trading app of 2024.

Best forex trading apps overall for 2024

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  1. Plus500: Best for international CFD trading*
  2. eToro: Best for beginners, copy-trading & demo-account

Compare the best forex trading apps

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These apps represent the best value and user experience of all forex apps we compared. Sign up by clicking one of the links in the table, or scroll down to learn more about each app and to find out how each one scored on each of our criteria.

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1
Min. Deposit
100 €
Best offer
User Score
10
Handel in +2000 CFD's op aandelen, forex, indices, crypto, opties, grondstoffen en meer
Onbeperkte risicovrije demo-account
0 commissies & aantrekkelijke spreads
Start Trading
Payment Methods:
American Express, Apple Pay, Debetkaart, Discover, Google Pay, Kredietkaart, Mastercard, Overschrijving, PayPal, SEPA, Trustly, Visa, ,
Full Regulations:
ASIC, FCA, FSA, MAS, cysec-250-14-regulator, isa-regulator

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

2
Min. Deposit
100 €
Best offer
User Score
10
Start Trading
Payment Methods:
Apple Pay, Google Pay
Full Regulations:

71% of retail CFD accounts lose money.

3
Min. Deposit
85 €
Best offer
User Score
9.9
MT4 met instrumenten in 9 time-frames met 30 vooraf geïnstalleerde indicatoren
Handel op spreads van zo laag als 0.0 pips
Meerdere financiering en snelle opnamemogelijkheden. Kies uit PayPal en meer
Start Trading
Payment Methods:
Cryptocurrencies, Kredietkaart, Overschrijving, PayPal, ,
Full Regulations:
ASIC, CySEC, FCA
74-89% of retail CFD accounts lose money

Top 9 forex trading apps, reviewed

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1. Plus500. Best for international CFD trading*

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From 0.08%

Fees

$100

Minimum deposit

3,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Can get a free demo account A great mobile platform Well regulated in multiple jurisdictions Wide variety of CFDs to trade Several good risk management tools
No support on trading information and education Website isn’t brilliantly designed to help users find answers to their questions No MetaTrader trading platform compatibility

Overview

We love Plus500 because it is one of the industry’s most transparent and reliable brokers. Its fees are clear and you’ll know exactly what you will be paying before you make a trade. Its technology driven platform gives access to CFDs on over 60 forex pairs with leverage up to 30:1. 

Plus500 has something for all types of forex trader, no matter what level of experience. Its zero commission and tight spreads make it a top choice for day traders and its trading academy is packed with educational content, perfect for beginners just starting. 

For accurate instrument availability, visit plus500.com.

The fees: There are no commission fees on any trades with Plus500 and it makes it money through the Bid/Ask spread. Spread starts from 0.01% and varies depending on the instrument. Additional fees include overnight funding which is dependent on trade size and guaranteed stop orders, which add a minimum of 10% to the spread. There is an inactivity charge of £10 per month for accounts not logged in for three months. 

*Based on a comparison of 60+ leading brokers and trading platforms.

Highlights

Visit Plus500 Plus500 Review

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

2. eToro. Best for beginners, copy-trading & demo-account

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0% commission

Fees

$100

Minimum deposit

4,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Great for beginners, simple to set up and get started Competitive, industry-leading commissions Popular ‘Copy Portfolios’ function lets you follow top traders Excellent customer service, with live chat support provided
Comparatively high fees for withdrawals and account inactivity Does not integrate with the MetaTrader platform High spreads on some assets

Overview

We love eToro because it’s an easy place to trade the currency markets. Forex can be intimidating, but eToro strips back the complexity to give you a platform where you can trade 50+ currencies at competitive prices and with up to 30x leverage.

As well as being a broker that offers lots of investor protection, eToro offers a very social trading experience. You can easily see how all the major and minor forex pairs are performing every day, track how investors feel about every one of those currencies, and copy other people’s trade suggestions from your desktop or the eToro app.

The fees: eToro charges a fee on currency CFD trades through the spread. Spreads are variable depending on the currency and start from 1 pip for EUR/USD trades, 1.5 pips for EUR/GBP, and 2 pips for GBP/USD. Overnight and weekend fees apply.

Highlights

Visit eToro eToro Review

eToro offers real assets only, no CFD products. Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Invezz.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD.

What is a forex trading app?

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A forex trading app is a specialised mobile applications that lets anyone make trades within forex markets. These mobile forex trading applications, also known as currency trading apps or foreign exchange applications, bring the power of trading currencies directly to your smartphone or tablet.

With hundreds of thousands of active forex traders globally, mobile apps provide the flexibility to tap into volatile currency markets and employ trading strategies from anywhere. For beginners venturing into the forex markets, the best apps for forex trading provide a user-friendly interface and essential features.

Most of the best forex brokers now offer a branded app alongside their web and desktop platforms. With mobile forex trading only growing in popularity, apps continue advancing with innovative features, convenience, and reliability.

How does a forex trading app work?

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It works in a similar way to a desktop or web based application. A mobile forex trading app is a powerful tool that uses advanced technology to seamlessly connect traders to the forex exchange markets. 

The best apps for trading forex use cutting-edge features and offer live market data, allowing traders to stay informed about fluctuations in currency pairs. FX apps are mobile versions of a broker’s main desktop application, which means you can place trades while on the go. 

After downloading a forex app from Google Play or Apple’s App Store, you can open an account with an integrated forex broker with just a few taps on your phone or tablet. When you’ve verified your account, you can access the app’s many tools and features. Advanced forex apps also include customisable technical indicators, news feeds, economic calendars, and risk management tools.

Executing a forex trade on an app is quick and easy. First, you select a currency pair and decide whether you want to buy or sell it. A trade ticket can then be opened and details like margin requirements and leverage can be accessed before entering the market. 

The app is linked to your account balance, so the funds required are already available. Open positions update by the second and reflect profit and losses in real time so you can always stay informed about your trades.

What are the different types of forex apps?

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There is a diverse range of forex trading apps you can use. Many are focused on trading, while others are more targeted to specific areas of the market like news and data. Here’s a quick rundown of the best forex trading apps you can use. 

  • MetaTrader forex apps. MetaTrader4 (MT4) and MetaTrader5 (MT5) are among the most popular forex trading apps. The MetaTrader suite offers a robust trading platform for executing trades and more. Any of the best MetaTrader 4 brokers will offer an app. 
  • TradingView forex apps. TradingView is another popular charting platform that is integrated with lots of forex platforms. When using the best TradingView brokers, you’ll have access to the platform’s advanced features on your mobile phone or tablet. 
  • Forex news apps. These types of applications deliver the latest market news and research tools directly to your phone or tablet. The Invezz news app offers timely insights into economic indicators, geopolitical developments, and market sentiment, all of which impact currency markets. 
  • Data apps. You can use a forex data app like HistData for pricing information, advanced analytics, and advanced charting. These types of applications also offer historical data, and statistical analysis allowing you to backtest strategies. 
  • Forex demo trading apps. For inexperienced traders, using a forex demo trading app lets you simulate real market conditions without risking actual money. A demo app lets you practice strategies, understand how the platform works, and gain confidence before moving to a live account.
  • Signals apps. The best forex signals apps offer trading opportunities from professional traders or algorithms. Forex signal apps are easy to use and allow you to profit from the currency market with very little effort. 

What to consider when choosing a forex app?

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Finding one that works for you is dependent on a number of factors, including its design, security and cost. Here’s a checklist of what to look for in an app when you download it.

1. A simple to use interface

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An app with a clunky design that is difficult to use will make investing in forex unnecessarily difficult, so you should choose an app that is refined and accessible to make your life easier. In addition, some apps will be more specialised than others, so make sure the one you choose is suitable for your needs and level of forex experience.

2. Financial authority approval

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If you are going to invest your own money, you need to have confidence that it will be safe. Make sure to check the reviews of an app before you use it to establish its reputation. Moreover, forex broker apps must be regulated by financial authorities like the National Futures Association (NFA) or the Securities & Exchange Commission (SEC).

3. An app that’s safe and secure on your device

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When investing your own capital through a mobile trading app, it is extremely important that it has good security. Keep an eye out for key security features like two-factor authentication and encryption, because the last thing you want is an app that doesn’t secure your funds and personal data. 

4. Access to tools and charts

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The forex market can look like a bunch of moving lines to the naked eye, but with the right tools and charts, you can spot patterns and make price predictions. Therefore, you should choose an app with a good range of charts and features, such as RSI and moving averages, for all your technical analysis needs.

5. Low fees and commissions

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The related costs of each individual platform will vary. However, fees can come in many different forms. Before you sign up to an app, make sure you are familiar with the fees it will impose for trading, deposits and withdrawals. Furthermore, if you plan on exchanging currencies frequently, the size of an app’s fees become more important.

6. A variety of different trading options

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Different apps offer various options so you can personalise your strategy. We have outlined some of the most useful methods below for your consideration.

  • CFD trading. This involves gaining exposure to the price of an asset without owning it. CFDs are commonly used because they offer higher leverage than owning a currency outright and they are often cheaper than buying an asset outright.
  • Spread betting. If you want to bet on whether the value of a particular currency goes up or down, spread betting could be for you. If you can anticipate price movements by following the latest forex news, this can prove to be a profitable method.
  • Leveraged trading. This is for individuals who want to gain access to a larger investment without having to pay for it upfront. If you know what you are doing, it is a good option because it can increase your profits. However, we advise those without sufficient experience to steer clear of leverage because it can also magnify your losses.
  • Scalping. For those who want to quickly enter and exit the market on a large number of trades to take advantage of small price movements, this should be a strategy of interest. By nature, scalpers are disciplined and focused, with an eye for detail, and technical analysis helps inform their decisions.
  • Hedging. Some people make trades for the purpose of protecting their current or future positions from downside risk created by adverse market conditions. There are a variety of ways they can do so, such as taking out a buy and sell position on the same currency.
  • Shorting. Just as one can take a long position – investing in the belief something will rise in value – they can also take a short position – investing in the belief something will fall in value. Your decision to go long or short on a currency should be based on both fundamental and technical analysis.

7. Additional features like access to a demo account

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These can be a nice bonus and give some apps a key advantage over their competition. For those who have experience, the right selection of charts and graphs is key, whereas, for those who are inexperienced, demo accounts, tutorials and social trading can make a big difference.

Another thing to consider is your access to the latest economic news and data. Forex prices typically trade in reaction to new data or significant economic events, such as the latest US non-farm payroll data, and having easy access to this information is very important.

Compare the top apps

Quick answers to key questions

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Can I trade forex on Android and iOS devices?

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Yes, most applications of this type are available on Android and iOS, including all of the apps we have reviewed. Simply head to the Google Play Store or App Store to see what’s on offer and choose one to download.

How much do forex apps cost?

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Most apps are free to download and sign up. However, the overall cost model varies. For example, some apps have transaction fees, which usually range from 1% to 2%, though they can be free on some apps. The table below compares the cost of trading on the best forex apps.

Asset Plus500 fees eToro fees Revolut fees
Cryptocurrencies From 2% 1%
Commodities From 0.04% From 2 pips
Currencies From 0.8% From 1 pip
Indices From 0.7% From 0.75 pts
Stocks From 0.08% 0% commission
View more > Plus500 > eToro > Revolut >

Are forex apps regulated?

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Yes, the best forex apps are regulated by the Securities & Exchange Commission (SEC) in the US. They should also be part of the Securities Investor Protection Fund (SIPC), which provides deposit insurance in the event that something goes wrong with the app.

Use the SIPC database to check that your app is registered.

The table below shows which regulators have licensed the top forex apps around the world.

Region Plus500 regulators eToro regulators Revolut regulators
Africa FSA
Asia
Australasia ASIC, FMA ASIC
Europe FCA, CySEC FCA, CySEC
International
North America FinCEN
South America
View more > Plus500 > eToro > Revolut >

Can I trade with leverage on an app?

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Yes, you can. Leverage is an important part of forex trading. This is a good way of gaining greater exposure to the value of a certain currency, though it also heightens the amount of risk you will face.

We recommend caution when you start to use leverage, as you will find yourself borrowing money and making trades worth much larger amounts than normal. Compare the leverage on offer from different forex apps right here:

Product Plus500 maximum leverage eToro maximum leverage Revolut maximum leverage
Stock CFDs 1:5 1:5
ETF CFDs 1:5 1:5
Forex CFDs 1:30 1:30
Crypto CFDs 1:2 1:2
Index CFDs 1:20 1:10
Commodity CFDs Up to 1:20 1:10
View more > Plus500 > eToro > Revolut >

Can I trade CFDs on an app?

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Yes, because trading forex and CFDs are essentially the same things. When trading forex via a broker, this will always be done with CFDs: rather than owning the currencies outright, you own the value change as the price fluctuates.

Best forex apps: user reviews

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One way to choose the best forex app is to look into other people’s experience of using one. We regularly conduct user surveys to gather feedback about the top apps and this feeds into our final ranking of each service.

Below is a summary of that research, comparing the user reviews, rating, and feedback across each of the top forex apps.

Review source Plus500 rating eToro rating Revolut rating
Trustpilot 4 4.4
Google Play Store 4.3 4.1
App Store 4.1 3.8
View more > Plus500 > eToro > Revolut >

Bottom line

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Forex mobile trading is an increasingly popular way to trade the currency market. The best trading apps for forex give any trader 24/5 access to the markets. This constant connection makes it easy to stay up to date with the latest happenings.

But, they do come with the downside of potentially becoming too involved, or suffering from FOMO. That’s why it’s recommended to use forex mobile trading as an addition to a desktop or web application, rather than solely focusing on an app alone.

Choose a reliable app

Methodology: How did we choose the best forex apps?

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Helping people make better financial decisions is at the heart of our mission at Invezz. 

We periodically test more than 63 forex apps to provide our users with clear, accessible guidance on the investing options available. All testing is carried out by our panel of forex experts, analysts, and active traders who sign up to each app, conduct research, and score each service.

Our tests are designed to find foreign exchange apps that offer a beginner-friendly, secure trading experience at a fair price. To supplement our practical testing and experience, we research each service to gather any further relevant information. We read online customer reviews, app reviews on the Play Store and App Store, and conduct user surveys to get feedback from real people about what works, and what doesn’t.

Each forex app is awarded a final score based on 130+ data points across 8 ranking categories: cost, reliability, user experience, deposit & withdrawals, investing options, range of products/markets, research & analysis tools, and the availability of educational & learning resources.

We work closely with individual apps to ensure all factual information displayed here is accurate. All data is then fact-checked by an independent reviewer. You can learn more about our expert panel and how we test, rate, and review platforms in our review process

FAQs

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Are forex apps legal?
Can I use forex apps where I live?
Do apps integrate with online accounts?
Will I lose my money if I uninstall a forex app?
What are the risks of using forex apps?
Do forex apps have copy features?
Is a forex trading app better than a desktop version?
Do I have to pay to use forex apps? 
Can I use multiple forex apps?


Sources & references
Risk disclaimer
Charlie Hancox
Financial Writer
Charlie is a Financial Writer for Invezz. He covers commodities, cryptocurrencies, and breaking news. Prior to joining Invezz he helped grow Crux Investor into the fastest-growing... read more.
James Knight
Editor of Education
James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.