The foreign exchange (forex) market is, by far, the biggest financial market in the world, meaning it’s also the market that provides the most potential profits for those that master it. Better yet, thanks to technical advances in the past few years, forex trading is now more accessible than ever before. In fact, all the top forex brokers in the world have amazing trading apps that allow you to trade on your smartphone, wherever and whenever you want to.
Understanding forex market is necessary before you jump into using the trading apps, it important for you to visit a reputable forex site as mentioned above to first enhance your knowledge and understanding of using forex apps.
In general, a trading app is a replica of a desktop trading platform, and the best ones feature all the same tools, graphs, and features. Hence, trading on your smartphone can be compared to trading on a computer.
But how do you find the best trading app and what should you look for? To help answer this question, our team has researched the market and handpicked the top three best forex trading apps right now.
Based on our research, Plus500 is one of the best forex brokers in the world, and they also provide the best forex trading app, especially if you look at user reviews in Google Play and the App Store.
For the past couple of years, Plus500 has been the highest-rated forex trading app in both app stores and they continuously get more and more reviews, without losing their rating.
The main reason for this is that Plus500 has designed and developed its trading platform in-house and therefore has full control over it, meaning they adjust and update it to fit their customers’ wishes. Unlike many other brokers, that rely on third-party platforms that are designed to “suit everyone”.
AvaTrade is an online broker based and licensed in Ireland, although with a global presence. Their trading app is called AvaTradeGo and in addition to featuring all the basic forex trading tools, the app has copy trading and automated trading features that help you trade more efficiently.
Copy trading allows you to copy other more successful traders, while automated trading allows you to trade inactively, ie. without the need to keep a constant eye on your open positions.
Similar to Plus500, AvaTrade has developed the app in-house which seems to be the theme for the best forex trading apps. Also similar to Plus500, AvaTradeGo is one of the highest-rated trading apps in both of the major app stores.
Last but not least we want to recommend eToro. This is a legendary online broker with millions of active customers and more than 15 years of experience offering forex trading services.
This broker has pioneered copy trading and is, by far, the best copy trading broker on the market. What’s more, the broker boasts one of the most comprehensive selections of currency pairs.
And as you’ve probably guessed by now, eToro also developed its platforms in-house, leaving them full control of every feature, setting, and tool.
Today, eToro provides both a trading platform and an investment platform meaning you can trade forex with the app, but also invest in stocks and cryptocurrencies. As a top Forex broker, Etoro compared with other best Forex brokers, like Oanda. the main differences between them are that Oanda maintains lower pricing with a focus on traders, whereas eToro favors broker profitability. Both eToro and Oanda demo account is available for traders, and it is a great way to test out their platforms and services before committing to a full account. So, If for some reason eToro is not available for you, you may make research brokers that have similar offers.
Before you rush to get started with forex trading, we want to leave you with a few useful tips.
Don’t forget that forex trading – as well as all forms of trading and investing – is associated with risk. Therefore, you should never trade with funds that you cannot afford to lose. Consider it a luxurious pastime that you should only partake in if you can and have the opportunity.
Also, forex trading is not an easy thing to master so don’t expect to make a profit from the start. In fact, the majority of all retail traders end up losing money in the long run, and only a few actually make it to a point where they can make regular profits.
Alexia is the author at Research Snipers covering all technology news including Google, Apple, Android, Xiaomi, Huawei, Samsung News, and More.
