Compare the best forex apps

A convenient and accessible way for you to start trading forex is by using a mobile app. This page explores the best options to get started, whatever your goals are.
Tip: our preferred broker is, eToro: visit & create account

An increased number of individuals are now involved with forex, and there are a variety of apps that cater for the growing demand. This article explains what to look for when you choose a forex app and lists the best ones for trading and investing.

What are the best apps for trading forex?

It depends on what your goals are. You’ll need a different app if you want to trade fiat currency pairs like GBP/USD, versus longer-term investments, travel, or remittance. Whatever your forex needs are, the below apps have been tried and tested by our team so you know they are up to the task.

Top apps for short term forex trading

If you want to trade forex quickly and conveniently, you need a broker app with low fees that’s easy to use. However, it shouldn’t compromise on tools and features because you’ll need them to help you predict price movements. The below options have a solid blend of beginner-friendly interfaces and informative charts.

101investing
Key Features
Winning Awards and 75+ stocks available
Full Education and cross-trading platform
No Fees or hidden charges
Min Deposit
$250
United States
Start Trading View key features
Key Features
Winning Awards and 75+ stocks available
Full Education and cross-trading platform
No Fees or hidden charges
Payment Methods
Bank Wire, Credit Card, Skrill, Neteller
101investing opportunities on a global market. Explore the market back and forth as 101Investing stays by your side either way. Supporting any trading way you choose, we empower you with the 90+ tools to explore your best opportunities. User-friendly interface and customized profile are the most solid base for efficient and promising market performance on any chosen device.
FOREX.com
Key Features
Access over 220 of the most popular company shares
Trade on spreads from 1 pt on UK shares
Go long or short on global top companies
Min Deposit
$50
United States
Start Trading View key features
Key Features
Access over 220 of the most popular company shares
Trade on spreads from 1 pt on UK shares
Go long or short on global top companies
Payment Methods
Debit Card, Bank Wire, ACH, Credit Card, PayPal
Founded in 1999, part of GAIN Capital Holdings. Licensed in highly regulated jurisdictions, FCA, IIROC, NFA, CFTC, CIMA,FSA. Payment methods ACH, debit card, bank wire transfer. $50 minimum deposit.
LonghornFX
Key Features
The broker offers access to a trusted MetaTrader trading system
Pricing is ensured to be completely transparent, also providing accuracy and speed
Trade a Wide Variety of Assets with Leverage up to 1:500
Min Deposit
$10
United States
Start Trading View key features
Key Features
The broker offers access to a trusted MetaTrader trading system
Pricing is ensured to be completely transparent, also providing accuracy and speed
Trade a Wide Variety of Assets with Leverage up to 1:500
Payment Methods
Credit Card, Debit Card, Visa, Bitcoin
LonghornFX is a true ECN STP broker dedicated to delivering a superior trading experience to traders no matter their level of experience. Their services are based on transparency, innovation and efficiency, ensuring an unparalleled trading experience for all.

Top apps for forex investing in the long term

We recommend a reliable multi-currency account app that allows users to store savings and swap a large variety of currencies easily. Hedging against particular currencies, or simply moving sums around in order to capitalise on economic trends over the long term can form part of a healthy financial plan. If you would like to try this strategy, we recommend the following apps:

What should I look for in a forex trading app?

Finding one of the top forex apps is dependent on a number of factors, including its design, security and cost. Below is a list of the main aspects you should consider before downloading one.

Design and ease of use

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. 

Reputation and regulation

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, apps that provide forex services are often regulated scrutinously by the financial authorities, though this will vary depending on the country you live in. 

In addition, brokers should be insured in the case of bankruptcy, so you can rest assured that your money shouldn’t be lost. 

Tools and charts

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.

Fees and commissions

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. 

Security

When investing your own capital through an 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. 

Trading options

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

CFD Trading

This involves gaining exposure to the price of an asset without owning it. CFDs are commonly used by forex traders 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 of trading.

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 inexperienced forex traders to steer clear of leverage because it can also magnify your losses. 

Scalping

For traders 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 focussed, with an eye for detail, and technical analysis helps inform their decisions. 

Hedging

Some forex traders make trades for the purpose of protecting their current or future trades 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.

Additional features

These can be a nice bonus and give some apps a key advantage over their competition. For those who have experience trading forex CFDs, the right selection of charts and graphs is key, whereas, for those who are inexperienced, demo accounts and tutorials can make a big difference. You can check out an app’s features in reviews before you download it. 

Quick answers to key questions

Can I use trade forex on Android and iOS devices?

Yes, most forex trading applications are available on Android and iOS, including all of the platforms 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 trading apps cost?

Most apps are free to download and sign up. However, the overall cost model varies by platform. For example, some apps have transaction fees, which usually range from 1% to 2%, though they can be free on some apps. For a detailed breakdown of the fees before you sign up, make sure to check out the app’s FAQ page or find it in one of our reviews.

Do I have to verify my identity with a forex trading app?

Yes, any regulated service requires ID verification, so keep a copy of your photo ID to hand and have your contact details ready for submission.  

Do apps charge fees for trading forex?

This varies from platform to platform. On some platforms, there is a subscription fee, whereas, on others, there are trading, deposit, or withdrawal fees. Even on apps with none of these, they need to make money somewhere, and this may be taken from the spread between what you can buy a currency for, and what you can sell one for.

Should I use a forex trading app?

If you want to make money speculating on the behaviour of financial markets, or if you have a logistical need to change currencies frequently and on the go, then yes. People have been trading forex using web browsers for years, and forex apps just make this more accessible. 

Still undecided?

If you aren’t ready to make up your mind yet, don’t rush; there is plenty of time to choose a forex app. To help you make a decision, we have listed the pros and cons of them below.

Pros

  • Trade forex conveniently from your mobile device
  • Many apps have simpler interfaces that are easier to use than websites
  • There is an increasing variety of apps, so whatever you need, you should be able to find an app for it

Cons

  • Losing your phone or having it stolen can compromise the security of your accounts
  • Mobile devices can be more fiddly than websites
  • Some apps have fewer features than their website versions

Should I trade forex with an app now?

Well, that’s entirely your choice. The best time to trade forex is ahead of major market movements because you can use the volatility to make profits. Therefore, it is really important for you to stay up-to-date with the latest forex news so you know when to execute trades.

The U.S. dollar slipped on Thursday on reports of soft U.S. inflation data for January, as well as the Fed’s decision to maintain accommodative policy stance. Fundamental analysis: Inflation continues to trend lower Core inflation in the States was reported at 0% in January, compared to the expected 0.2%. Head…
Treasury pick and the former Fed chief Janet Yellen is due to testify on Capitol Hill today. She is expected to reaffirm that the Biden-led US administration won’t pursue a path of weaker dollar. Fundamental analysis: Change in policy compared to Trump Janet Yellen, U.S. Treasury nominee picked by U.S.
The dollar is likely to start a bearish cycle in case the Democratic candidate Joe Biden wins in the next month’s elections, analysts believe.  Fundamental analysis: Dollar remains vulnerable The U.S. dollar remains vulnerable to “substantial devaluation” as the fundamental aspect of the market points towards a deeper pullback,…

Where can I learn more about forex?

We might be blowing our own trumpet a little, but we feel the Invezz website is a great place to receive a forex education. Our courses introduce you to forex investment and explain things like how to read charts and use signals.

FAQs

ℹ Can I use multiple apps?
ℹ Are forex apps legal?
ℹ Can I use forex trading apps where I live?
ℹ Do I have to pay to use forex apps?
ℹ Are there fees when forex trading on an app?
ℹ Are mobile apps safe?
ℹ Are forex apps regulated?
ℹ Do I have to pay tax on any money I make?
ℹ Can I trade with leverage on an app?
ℹ Can I trade CFDs on an app?
ℹ Do apps integrate with online accounts?
ℹ What if I forget my password?
ℹ Will I lose my money if I uninstall a forex app?
ℹ What are the risks of using forex apps?
ℹ Can I use my PayPal account to deposit money on an app?

Written by: Charlie Hancox
Charlie joined the Invezz team in 2021. He previously worked in the mining and natural resources sector, providing in-depth analysis and incisive journalism. Charlie's experience with financial markets and investment reinforces a growing team.