Best Forex Apps: Ultimate 2020 Guide
Curious about the best forex trading apps available on the market today?
The year is 2020, and mobile usage is at an all-time high.
Forex trading, also, is more popular than ever and shows no sign of slowing down.
More and more people are catching on every year to the world of currency trading, which means there is an increasing number of companies and brokers looking to cash in on the exploding popularity of forex.
Naturally, we’ve seen in recent years a rise in the number of mobile forex apps available on the app stores.
Some are good, some are bad. Others are very bad.
It can be difficult to sift through all of the new and old forex apps available on the market, which is why we’ve decided to write our “Best Forex Apps: Ultimate 2020 Guide“.
We’ve researched, tried, and tested some of the most popular forex trading apps to date.
From our testing, we eventually compiled our favorite five forex apps that we feel are good options for forex traders looking to do their trading on mobile.
As we mentioned in our last post on whether the Robinhood app offers forex trading, nothing beats trading on a computer.
Considering all the data required of a forex trader to analyze and the speed necessary to make quick trades, mobile phones and apps are not the best tools for trading.
That said, the convenience of trading on a mobile phone is fantastic. Also, sometimes you might find yourself without access to a computer, in which case a forex trading app can really come in handy.
Considering the volatility in currency prices on the forex markets, apps give you an upper hand by allowing traders to take advantage of unexpected changes in prices without needing to be at a computer.
No matter your reason for needing a forex app, we hope you find some value in our Ultimate 2020 Guide to the Best Forex Apps.
Top 5 Best Forex Apps
Here are our picks for the top 5 best forex apps out right now, in no particular order.
Admiral Markets MetaTrader5 Forex App Review
Admiral Markets is easily one of the most dominant forces in the forex trading world. Whether it’s their extremely popular website, trading programs, videos, or other content, if you’ve been exploring forex for a while then you’ve likely come across this brand at one time or another.
Despite having on the most useful websites in forex, Admiral Markets also have a great mobile app, MetaTrader 5, where you can trade not only currencies but stocks, futures, and CFDs as well. Available on both iOS and Android app stores, the app is easily one of the most favored apps for forex trading out today.
In addition to the trading platform, MetaTrader 5 also updates users on financial market news that might impact certain currency prices. Also, the app supports netting and hedging two-position accounts.
If that’s not enough, the app features Market Depth, which provides expert technical analysis and trade orders.
eToro Forex App Review
Have you seen those annoying eToro ads, the ones with Alec Baldwin, yet?
No matter what you think of their marketing (I’m certainly not a fan), eToro has emerged as one of the most widely recognized faces in the forex game.
eToro is a platform that offers forex, among other things, where traders have opened nearly 300 million trades to date, a number that is increasing by the day.
What really makes the eToro app unique is that it is a social trading platform, which means the app allows its users to actually copy trades of other traders. This means you can literally watch successful traders trade live and enter the exact same positions, as you please.
This is useful not only as a beginner, but it will also teach you how to trade forex like a pro simply by watching others do it in front of you.
The cost to start trading on the eToro app is just $200 USD, which is peanuts compared to other trading platforms.
If you end up becoming a successful trader, you can then gain a following yourself which in turn makes you additional profits on the platform.
Trade Interceptor Forex App Review
Trade Interceptor is another good option for forex traders on both iPhone and Android phones.
In addition to giving traders access to trade currency pairs, futures, options and more, the app is also packed full of some great features, including:
- Over 160 drawing tools and chart indicators
- Around 14 total different advanced charts
- Streaming price quotes and charts, live
- Access to historical price data
- Simulated training
Overall, the Trade Interceptor app is a perfect option for forex traders who want all the data necessary to make educated forex trades.
NetDania Stock and Forex Trader App Review
The NetDania Stock and Forex Trader app, as the name suggests, allows traders access to trade both stocks and forex.
This app does an excellent job of providing users with an in-depth overview of the financial markets, in real-time.
Some of the other features this app offers include:
- Access to over 2,000 currency pairs
- Over 20 thousand financial instruments
- Live, real-time financial news
- A comprehensive economic calendar
- Over six price charts
These are just some of the features packed into this forex trading app.
Available in over 18 languages for both Android and iOS mobile users, this app is fantastic for the many features offered and the relevant information it provides users.
IQ Option Forex App Review
Last but not least, we’ve chosen to include IQ Option‘s Forex App as one of our top five picks for the best forex app.
This app is quite popular for a reason- it is very efficient, and offers some valuable features you might find in actual trading rooms.
Another benefit is the interface is very user-friendly which, when it comes to mobile apps, is not always present but is very important for trading forex.
Our favorite feature the app offers is the negative balance protection, which most trading apps do not include.
The IQ Option Forex App is available for both Android and iOS users, and should not be overlooked.
Best Forex App in 2020
So, you want to know our picks for the absolute Best Forex App in 2020?
Our official pick for the best forex app in 2020 is the MetaTrader 5 app.
Overall, this app is easily the most comprehensive and useful app for forex traders who need access to data, news, and features that make it as easy as possible to trade the markets on a mobile phone.
While trading forex through the use of apps hardly matches trading on a computer, MetaTrader 5 does a pretty great job of providing the best possible experience when it comes to trading on a mobile phone.
If you are looking for an app so that you can trade forex on the go, the MetaTrader 5 forex trading app is by far the best option as it stands in the year 2020.
We are the most excited to see how these particular apps develop and what new features the upcoming months will bring.
Best Forex Signal App
Our pick for Best Forex Signal App is eToro.
Signals in forex trading are suggestions for entering currency trades, typically at a certain time and price. The signal can come from either a professional analyst or it can be automated, which are what forex robots are for.
While the eToro App is not our first choice when it comes to overall mobile trading, it is definitely the best for offering signal trading.
eToro offers signals that will alert you on possible profitable trades, depending on your specifications, which is useful for when you are not actively trading but want to know when good situations arise where you have opportunities to open positions that are likely to be profitable.
When it comes to providing signals, eToro is a premium option. When you pair up the eToro app with their signaling services, you can be sure that you will never miss out on those good trade opportunities.
eToro also allows users access to the single largest social trading community in the world, according to the
m, with over 4.5 million people in total.
eToro offers what they call ‘CopyTrader‘, which is a technology that allows traders to copy other professional traders.
This is an awesome opportunity for beginners! You can literally watch, in real-time, other big-time forex traders open positions and identify trade opportunities that could earn you big money.
You can even access a page that shows you all of the top traders available in order to replicate their performance, as shown in the image to the right.
For those of you looking for a forex signal app, eToro is one of the best, if not the best, providers of this service. Make sure to check out CopyTrader as well, especially if you are new to forex trading and want to see how it’s done.
Best Forex App for iPhone
Our choice for the Best Forex App for iPhone also happens to be our #1 pick for Best Forex App in 2020: MetaTrader 5.
The platform and app capabilities compared to any other forex trading app available for iOS is un
If you own an iPhone and are looking for a fantastic forex trading app, Metatrader 5 is the premium option for you.
Our second best choice as the Best Forex App for iPhone users is Trade Interceptor, which is a great second option if you don’t like MetaTrader.
Best Forex App for Android
Metatrader 5 is offered on the Android app store as well.
It is our choice as the best forex app available for Android users.
Best Forex Trading App For Beginners
Trading Game Forex App Review
‘Trading Game‘ is by far our top pick for the best forex trading app for beginners.
Because this app does not offer access to actual markets but is an app for demo trades.
For beginner forex traders, demo accounts are extremely useful to learn how forex trading is really done, without the risk of losing all your capital (which happens to a majority of forex traders, professional or not).
The Trading Game App gives users a practical forex trading experience which allows new traders to really hone their skills and learn how it’s done.
Once you’ve spent enough time on this app and think you have what it takes, then you can take a look at the eToro and MetaTrader 5 forex apps, which we’ve chosen to be the best forex trading apps in 2020.
Are you new to forex and want to learn how you can really make money from trading?
Learn to Trade Forex
Are you looking to download a forex trading app, but aren’t familiar with how forex trading really works yet?
The hard truth of forex is the over 90% of traders fail, as in losing money. The game is difficult.
Before you decide to download a forex app, open an account, deposit money and start trading, stop and consider whether you really know what you’re doing.
If you’re a beginner trader, it is highly recommended you educate yourself first on how to make profitable trades, day in and day out.
The key to making money in forex trading is to consistently make profitable trades, every day.
If you are new to forex trading, you need to learn how the markets work and how you can extract profit from currency trading, no matter how the markets are performing.
If you want to learn how my friends and I make 6-figure salaries yearly simply through forex trading, go read our post about a forex course that will teach you everything you need to know and more.
Also, if you want some free help, make sure to grab out Forex Trading Fortunes PDF today! Check out the sidebar to the left of this post to get your copy sent straight to your email.
Thanks for reading ForexFreshmen.com.