Your Guide to the 10 Best Forex Trading Apps Of 2020
Did you even realize the growth of forex industry has been more than ever in recent years? It wouldn’t be wrong at all to say that it’s indeed immense.
Today traders have long effective ways to facilitate trading activities and maximize efficiencies while having access to different opportunities and maximum liquidity. It’s pretty evident that the panorama of trading opportunities has changed so much. It would be right to say that the technological revolution brought by the internet has opened the doors for forex traders to get access to markets through mobile trading.
Lately, the growth of mobile trading has accompanied an expansion and reached US$5.1 trillion. Retail FX average daily volume augmented to US$238 billion in 2016 from US$185 billion only three years earlier.
Best Currency & Forex Trading Apps
The forex market is the largest and most liquid market in the world, in lieu of every global currency with trading 24 hours a day, five days a week.
“Trading effectively is about assessing probabilities, not certainties.” ― Yvan Byeajee
If you are someone who is looking to trade the forex market through your tablet or mobile device, it is indispensable to use the right and the best forex trading apps. But, with an array of forex trading apps available today, it gets very challenging to decide which one is the best for your trading needs.
Whether you are a novice to forex or an experienced trader, choosing the right trading platform for your needs is vital.
Pro tip – Apps with risk management tools are great for novice traders, whereas automation and advanced charting tools will be helpful by experienced ones.
10 Best Forex Trading Apps for 2020
These are the forex trading apps you should consider using for trading purposes and to evaluate potential business opportunities, and to keep yourself updated with key market trends directly from your fingertips:
eToro is the most beginner-friendly and go-to destination for any Forex trader. One of the best about it is that there are more than 200 million open trades in it and this number is increasing more and more with every passing day. It tends to be unique and popular because it provides an easy and fast trading experience to its thousands of users every day.
Meta Trader 5
The second best app in our list is Meta Trader 5. It is considered to be the best and most helpful app that is convenient for iOS and Android both. As per so many traders, the best thing about it is that it lets a person trade from all over the world. By using this app, one can simply check trade history, easily control his or her account, buy and sell currencies. In fact, it also works great when it happens to keep a trader update about all the recent developments in the trading market.
I recently downloaded this ITG app and must say, became a lifetime user. This forex trading app is really nice, and the best part is, it lets you connect with other experts too in the globe. So, if you are someone who is on the lookout of one of the best forex stocks trading app for gaining market experience and doing demo-trades, then it can actually be the best bet for you.
IQ Option Forex
This is one another efficient trading app that provides traders with trading intelligence. The best part about this app is – is has features like mirroring the trading room vibrancy that makes it stand out from others. By using this one, one can simply create interaction, and it is very much simple to use too. IQ Option Forex app can be downloaded in both iOS and Android phones. Once you have got this installed, you can avail it’s so many benefits.
Forex.com is known to deliver an exceptional trading experience to different CFD and forex traders from all across the globe. It is the go-to app for almost every forex trader today, and the reason behind it is simple – it’s competitive pricing, comprehensive market research and other alike features that make it cater all traders’ needs.
Also known as Forextime, this one is my personal favorite plus globally licensed forex trading app. At present, this is so much popular among the novice as well as seasoned traders for its low fees and fast order execution characteristics. In addition to this, FXTM is also very simple to use. More so, it has plenty of educational material available in the app that makes novice traders simply grasp all the required understating of the foreign exchange markets.
Well, this one if a trusted multi-asset broker app used by almost 75% of traders in the financial markets today. It’s well-rounded and competitive offerings make it a must-to-have app. Some of XTB’s outraging highlights are its xStation 5 trading platform and exceptional customer service, which works great in providing a great experience.
Bloomberg Business Mobile App
It is a business mobile app that is commonly known to provide the business news to traders from all over the world. Bloomberg business mobile app is compatible with both, Android and iOS & is really helpful when it happens to make smart trades. By having this app installed in your smart phone, you can get all the latest updates of the foreign exchange world and improve your financial condition.
MarketX is one popular and effective CFD platform managed and owned by Markets.com. The best part about this forex trading app is that it offers its users the opportunity to trade foreign currency pairs, having low spreads with up to 30x leverage. In addition, its other helpful analysis tools make it one of the best apps for analyzing at present. A trader can get access to this app by downloading it from play stores for free.
This app has everything that one trader might require while trading and this is what it makes this app stand tall from others. This is especially true, if you are someone for whom managing different trading accounts thrills. In that case, this app is everything that you will need to make smart trades. The best part about this FxPro app is it has a secure login feature that has both fingerprint authentication and pass code in it, making trading simpler and more secure.
On a conclusive note, I would say it is worth acknowledging that every forex trading app is tailored to meet the needs of different traders. For that, you need to use the one that suits your needs the best. Other than these mentioned apps, there are many more apps out there that deserve to be placed on this, but mentioned ones are the top ones in my opinion. If you ask about out personal recommendation than it would be ITGlive. IUf you have any concerns or queries, feel free to comment and let us know about it!
Emlee Carr is a content writer, Trading strategist and blogger who writes on the Forex currency trading and business-related topics. At present, she is working with Itglive, a leading currency trading and Affiliate Marketing Company.