Best Forex Trading Apps in 2021
The world of foreign exchange (forex) trading can be both exciting and overwhelming. With so many data points to consider, it’s essential that traders have access to a high-quality forex trading app in order to stay on top of market trends and make informed decisions. That’s why we’ve compiled a list of the best forex trading apps available in 2021, taking factors like ease of use, security, and powerful features into consideration.
1. MetaTrader 5
MetaTrader 5 is undoubtedly one of the most popular forex trading apps on the market today. The app is available on both mobile and desktop platforms and boasts a range of features that make it easy to analyse the markets and place trades.
One of the features that sets MetaTrader 5 apart from other forex trading apps is its powerful charting tools. With advanced indicators and customization options, traders can easily track market trends and identify potential entry and exit points. Additionally, the app features multiple order types, including market and limit orders, and allows traders to create and adjust their stop-loss and take-profit levels.
Another notable feature of MetaTrader 5 is its community of traders. The app allows users to share their strategies and trading insights with a vast network of users, providing an excellent opportunity for traders to learn from one another.
2. eToro
eToro has gained a reputation as one of the most user-friendly and accessible forex trading apps out there. The app’s user interface is intuitive and clean, allowing traders to quickly get started and place trades.
One of the most interesting features of eToro is its social trading aspect. The app allows traders to view the performance of other traders and copy their trades directly, making it an excellent option for traders who are just starting out. Additionally, eToro offers commission-free trading and has no hidden fees, making it an affordable option for traders on a budget.
The app also offers a range of educational resources to help traders learn the basics of forex trading. From skill-building workshops to expert analysis and insights, eToro is a great choice for those who are new to forex trading or looking to enhance their skills.
3. IQ Option
IQ Option has made a name for itself as one of the most versatile forex trading apps on the market. The app offers a range of asset classes to trade, including forex, stocks, and commodities, making it an excellent choice for those who want to diversify their portfolio.
One of the standout features of IQ Option is its support for multiple languages. The app is available in over 20 languages, making it an accessible option for traders from all over the world. Additionally, the app has a user-friendly interface and offers a range of tools, including advanced charting and technical analysis indicators.
Another notable feature of IQ Option is its deposit and withdrawal options. The app supports a range of payment methods, including credit cards, e-wallets, and bank wire transfers, making it easy for traders to manage their funds.
4. ForexTime (FXTM)
ForexTime (FXTM) is a relatively new forex trading app but has quickly become a popular option among both beginner and experienced traders. The app boasts a range of features that make it easy to analyze the markets and execute trades.
One standout feature of FXTM is its customizable user interface. Traders can create a personalized workspace with their preferred charts, tools, and indicators, making it easy to stay organized and focused on their trades. Additionally, the app offers a range of educational resources to help traders build their skills, including webinars and expert analysis.
The app also offers competitive spreads and quick execution times, ensuring that traders get the best possible prices for their trades. With support for multiple languages and a user-friendly interface, FXTM is an excellent option for traders of all levels.
5. IG Trading
IG Trading is a well-established forex trading app that offers a comprehensive range of features and tools. The app is available on both mobile and desktop platforms and boasts a clean and intuitive interface.
One standout feature of IG Trading is its powerful charting tools. The app allows traders to access a wide range of technical indicators and chart types, making it easy to identify trends and potential price movements. Additionally, IG Trading offers a range of order types, including market, limit, and stop orders, and allows traders to create and adjust their stop-loss and take-profit levels.
The app also offers a range of educational resources, including webinars and expert analysis, making it an excellent choice for traders who are looking to improve their skills. With competitive spreads and fees and support for multiple languages, IG Trading is a popular option among forex traders worldwide.
Conclusion
Forex trading can be an exciting and rewarding activity, but only if you have the right tools and resources. The forex trading apps listed above offer a range of powerful features and tools that can help traders stay on top of market trends and make informed decisions. From MetaTrader 5's robust charting tools to eToro's social trading aspect, each of these apps has something unique to offer. Ultimately, the best forex trading app for you depends on your individual trading style and needs. So, take some time to explore these apps for yourself and find the one that works best for you.