Money buys happiness, and the Best Forex Trading Apps help you buy Money! Means Forex Trading Apps can help you earn in millions 🤑 Let’s dig in!
Gone are the days when people used to go to the office for work to earn money. Now, it’s the digital age, and the way to make money has changed as well. The Best Forex Trading apps give you the opportunity to make money from your favorite place, sitting comfortably wherever you like.
In this article, we’ll talk about What Forex Trading Apps are, Top Forex Trading apps for PCs and How they work to help you earn money. We’ll even let you know the basic specifications that each forex trading app carries as well.
So, with No delays, Let’s just start with this game!
What are Forex Trading Apps?
In simple words, Forex Trading Apps refers to Applications that allow a user to buy and sell foreign exchange like USD/ GBP/ EUR/ AUD/ CAD in the international market. It offers amazing trading tools including trade indicators, oscillators, drawings and proper news analysis to help the potential traders with their price speculations.
With an easy to manage interface and secure payment gateway via GooglePay/ Skrill/ Paypal and BankTransfer it offers few of the best Trading UX enabling the users to enjoy seamless trading activities without any technical issue.
Top 7 Best Forex Trading Apps in 2024
Now that you know what Forex Trading Apps actually are and what do they offer, Let’s now list the Top #7 Best Forex Trading Apps in 2024, its features, Pros & Cons, UX and Who can it prove best for, are what we’re gonna discuss. Moreover, traders and our potential readers are advised to join the discussion and choose the Right Forex Trading App as per their requirements.
1. IGTrading
Firstly, let’s talk about IGTrading, one of the Best Forex Trading Apps, that offers a UserFriendly interface to buy and sell Forex in Real Time. For users who are new to Forex trading and have no idea How to do trading, IGTrading provides in-built tutorials named IG academy with Latest educational content plus a Demo account with Virtual Funds of $20,000 for practicing trading.
Moreover, IGTrading provides clear Forex charts with proper price analysis helping the traders understand the trends. Even get three types of Alerts before actually making trade executions.
Key Specifications
Pros & Cons
Pros
- Get a Demo Account to practice trading
- Secure payment gateway
- Multiple Device friendly
Cons
- Lacks a few advanced Indicators
User Experience
- Indicators like SMA and EMA are enough for price predictions
- Mobile interface is too UserFriendly
Best For
- IGTrading is Best for newbies who have recently entered the trading arena with Zero knowledge.
- TechSavy traders can also use their ability to customize trade charts, and other advanced features before placing trades.
2. ThinkTrader
Now we have ThinkTrader, which was formerly known as Trade Interceptor, is one of the Best Forex trading apps for Android with awesome experiences. Stuffed with advanced trading tools and impressive charts, it’s perfect for both beginners and advanced traders. You can trade in various areas with ThinkTrader, including forex, precious metals, indices, cryptocurrencies, shares, commodities, and CFDs.
Accepting clients from over 180 countries (except for the USA, Japan, and Iran), this platform is available worldwide, with the only exceptions being the USA and Japan.
Key Specifications
Pros & Cons
Pros
- Advanced Trading tools like SMA/ EMA/ Parabolic/ Ichimoku Cloud and many more
- User Friendly interface for Beginners with easy trading related navigation.
- Traders get a TrendRisk Scanner that provides information about recommended trades.
Cons
- Unavailable in the US and Japan.
User Experience
- Quick Trade Order Executions, thanks to easy navigation and instant call/put session clicks.
- Traders can easily track down their performance and at the end of the month analyze the Total Profit/Loss incurred.
Best For
- ThinkTrader is a jackpot for Beginner traders, having no idea about ABC of trading can easily get hold of tutorials and Demo Account for practicing trade.
- Remote traders, who go for tours every now and then can without any issue access their trading account from any device like Mobile, ChromeBook, Tablet and many more.
3. CMC Markets
One of the Best Overall Forex Trading Apps for PC, CMCMarkets offer advanced Order executions including trailing, guaranteed Stop Loss, Partial trade closure, chart analysis and many more features for ensuring flexible trading activities. With Trade Pattern recognition Scanner, traders can get 24/7 surveillance on the price patterns before making huge trading investments.
For better trade performance, CMCMarkets offer news analysis for Price predictions and proper tutorials for using trade indicators for enabling the newbies for proper trade related understanding.
Key Specifications
Pros & Cons
Pros
- Easy to use and User-Friendly Graphical Interface.
- Quick Trade executions and proper Stop loss operation.
- Advanced Trading Tools with short tutorial videos for beginners.
Cons
- Lacks interactive Content and is not available in Middle Eastern countries.
User Experience
- CMCMarkets offers advanced Charting tools to enable the traders to study the graph and analyze the price trends accordingly.
- Traders located anywhere around the world, can make use of remote protocol to trade Forex currencies in Real Time.
Best For
- Remote traders, as they can use multiple devices and run their trading account to set Trading orders as per the market trends.
- Students, wanting to engage in part time trading can make use of trading operations, here in CMCMarkets, where one gets intuitive User-Interface.
4. FXTM
As far as faster execution of trade at a better price, Total Fund 100% security, Live currencies rates with technical indicators plus Quick investment deposit and rate conversions, FXTM offers one of the Best Forex Trading Apps for professionals. It not only offers proper trade chart analysis but also quicker trade execution function so that you do not even miss a second here.
Along with that, traders get free advanced trading tools that include Oscillator, SMA, EMA, Parabolic and more to help the professionals understand the market trend before actually placing the trade.
Key Specifications
Pros & Cons
Pros
- Easy to use interface makes it an effortless trading ground for newbies.
- Proper Payment medium via Google Pay/ Skrill/ Bank Transfer.
- Quick Market overview before placing a good amount of trade.
Cons
- Not enough Currency exchange rates available.
User Experience
- Brokers available through the medium of FXTM, are licensed, ensuring that you are dealing with an authorized knowledgeable person before locking Call/ Put.
- Presence of Advanced Trading tools elevates your trading experience to a next level ensuring that your trade moves are profit oriented.
Best For
- Experienced traders can benefit a lot from the advanced charting tools, technical indicators, and market analysis features provided by FXTM, allowing traders to perform in-depth market analysis and define their strategies.
- Newbie traders, who have no idea about what trading is, thanks to intuitive and straightforward interfaces of FXTM makes it easier for new traders to navigate and understand the trading process without being overwhelmed.
5. MetaTrader
Trading complexities of any kind are easily sorted by MetaTrader4! The amazing trading system of MetaTrader4 allows the traders to implement the best strategies in complex trading sessions. From trade executions to stop loss, MetaTrader offers all the important functions to ensure quick and efficient trade, Plus it also offers few of the best trading strategies and advanced tools that ensures flexible and convenient trade.
Moreover, get 33+ trading indicators, 9+ timeframes and Interactive charts to seek attention of avid professionals letting them trade with greater performance.
Key Specifications
Pros & Cons
Pros
- Library of Free Trading educational material
- Support for iOS and Android OS
- 700+ trading robots and 100+ technical indicators
Cons
- In app purchases for Trading robots and other related strategies.
User Experience
- Trading Bots helps the traders, especially the newbies a lot, as these bots tell only the Call and Put signal and all the market study plus other hard work is done by the bot.
- Traders can effortlessly monitor their performance Insights and, at month’s end, evaluate their total profit or loss.
Best For
- Professional All-Round Traders, who never leave trading even a single minute, can seamlessly access their trading accounts from multiple devices, setting orders according to market trends.
- Students looking to dive into part-time trading will find an intuitive user interface here at MetaTraders, making trading operations a breeze.
6. Forex.com
From Impressive AI tools to Opening a Free Demo Account, Forex.com has all that a newly born trader needs to stand upright in the trading field. Get fast and reliable trade executions ensuring less commission over call/put sessions as well. With Forex.com, you can explore diverse markets including forex, precious metals, indices, cryptocurrencies, stocks, and commodities.
Additionally, Forex.com offers detailed charts with precise price analysis to help traders grasp market trends. Plus, receive three types of alerts to guide your trade executions.
Key Specifications
Pros & Cons
Pros
- Get Intuitive Interface! Enjoy a simple and user-friendly graphical interface that makes trading a breeze.
- Experience quick trade processing and efficient stop-loss operations for secure trading.
- Access advanced trading tools along with short tutorial videos perfect for beginners.
Cons
- Forex.com is missing Some Advanced Indicators like AI advice and all! A few high-level indicators are not included, but most traders won’t miss them.
User Experience
- Basic indicators like SMA and EMA provide reliable price predictions.
- The mobile interface is exceptionally easy to navigate and use.
Best For
- Forex.com is ideal for newcomers with no prior trading experience.
- Expert Traders can customize charts and utilize advanced features before executing trades.
7. AvaTrade
When it comes to swift trade execution at optimal prices, comprehensive fund insurance with 100% security, real-time currency rates, technical indicators, and seamless investment deposits and rate conversions, AvaTrader stands out as one of the top Forex trading apps for professionals. This app excels in providing detailed trade chart analysis coupled with rapid trade execution, ensuring you never miss a moment in the fast-paced trading environment.
In addition, AvaTrader equips traders with a suite of free advanced trading tools such as oscillators, SMA, EMA, and parabolic indicators. These tools are designed to help professionals thoroughly analyze market trends and make informed trading decisions with confidence.
Key Specifications
Pros & Cons
Pros
- Enjoy an intuitive and easy-to-navigate graphical interface that simplifies your trading experience.
- Benefit from swift trade processing and efficient stop-loss features to secure your investments.
- Access advanced trading tools paired with short tutorial videos, perfect for beginners looking to learn the ropes.
Cons
- Note the lack of interactive content and the app’s unavailability in Middle Eastern countries.
User Experience
- Experience quick trade order execution, thanks to seamless navigation and instant call/put options.
- Easily monitor your trading performance and analyze your total profit or loss at the end of each month.
Best For
- Trade with confidence knowing that AvaTrader connects you with licensed brokers, ensuring you receive expert guidance before making investment decisions.
- Utilize advanced trading tools that elevate your trading strategies, ensuring your moves are geared towards maximizing profits.
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How to Choose the Right Forex Trading App for You?
It’s very important to keep a few factors in mind when choosing the Right Forex Trading Application from among various options. So,
- First of all, identify your trading needs! If you are a beginner, you may need user-friendly interface and educational material or if you are an advanced trader, then advanced trading tools for greater trade analysis should be your priority.
- Secondly, Check if the Forex Trading app allows setting personalized alerts and red notifications for price levels, news events, and technical indicators.
- Make sure the Forex trading app offers you real-time Market trends and updates on account balance, share price, and margin levels, along with easy deposit and withdrawal options.
- Choose a Forex app that has a built-in advanced Encryption to protect your payment data and regular transactions. Moreover, Additional layers of security, such as Multiple Factor Authentication (MFA/ 2FA), can help safeguard your account.
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FAQs
Which forex trading app is best for beginners in 2024?
IGTrading, Forex.com and CMCMarkets are few of the Best Forex Trading Apps in 2024 for Newbie traders and beginners as they offer intuitive and User-Friendly graphical Interface, eBooks & tutorials for trading related knowledge and easy market analysis tools for placing calls and puts as per the comfortability.
Is Forex Trading safe?
Yes! Forex Trading is absolutely safe everywhere, especially in countries like the US, the UK and other European countries from stringent government regulations, strong encryption and secure payment gateway for worry-free transactions.
Can I trade forex for free?
No! To Trade Forex, you need to invest a minimum amount of atleast $10 or so in order to start earning. You can make the deposit via BankTransfer, Skrill, Google Pay and many other mediums as well.
Can I start forex with $10?
Yes! Just with a small deposit of $10, you can start trading and earn after placing calls and put operations with the rightest trading strategies.
In which country OctaFX is legal?
OctaFX is legal in the US/ the UK and many other European countries. Whereas, it is illegal in some of the MiddleEastern countries due to the following of the Shariah Law.
Which trading app is legal in India?
No! Trading Apps are not declared legal by the Reserve bank of India and it is taken as gambling under section 7 of the Gambling Act 1867. However, using VPN, keen traders can place trades and draw money online.
Conclusion
So, if you’re searching for the best Forex trading app, IGTrading, Forex.com and CMCMarkets tick all the boxes. Imagine starting with a demo account to practice without any risk, and then diving into real trading with confidence. You’ll have AI-powered bots that give you top-notch currency signals, ensuring you’re making smart moves.
For beginners, there are advanced trading tools and tutorial videos to get you up to speed quickly. You’ll get quick trade order executions and the ability to track your performance easily, analyzing profits and losses monthly.
Licensed brokers are at your service 24/7, giving you the confidence that you’re getting expert advice. With all these advanced tools, your trading experience will be elevated, making your strategies more profitable.
Give it a try, and you might find it to be the perfect trading companion you’ve been looking for!
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