Top 10 Forex Trading Apps for 2022

Forex trading is the exchange of one currency for another in the financial market. There are risks in any investment, and forex trading can be more dangerous than investments on other kinds of financial products because of its high leverage and fast execution, meaning investors can lose large sums of money very quickly. Of course, if done properly, forex trading can also generate significant investment returns for traders who use proper trading strategies and understand the market conditions. Choosing the right forex brokers is the most fundamental part of your trading career, then selecting an appropriate trading app is an important decision of starting your forex trading journey. With several forex trading apps to choose from, evaluating and selecting suitable ones can be a hard task for you.

When trading forex and making analyses, you need professional forex trading apps. With so many options in the market, finding a better one is troublesome. From several trading platforms, BrokersView has identified some forex trading apps that meet the requirements of both newbie and professional traders.

What is Forex Trading?

Forex trading involves buying one currency and selling another currency at the same time. This may sound very simple, but considering that forex trading is done for many reasons, profiting from such trades and avoiding losses is one of them.

How Does The Forex Market Work?

Forex trading is not completed in an exchange. Unlike stocks and commodities, there is no central exchange. Instead, forex trading happens between two parties or participants in a place known as the over-the-counter(OTC) market. Currencies are traded through a global network of banks, dealers, and financial brokers worldwide.

The forex market refers to a fairly large global network of banks spread across four major forex trading centers. These trading centers are located in different time zones and allow forex trading 24 hours a day, five days a week.

The forex market refers to a fairly large global network of banks spread across four major forex trading centers and other trading centers. These trading centers are located in different time zones and keep forex trading 24 hours a day, five days a week.

These centers are located in London, New York, Tokyo, Zurich, Frankfurt, Hong Kong, Singapore, Paris, and Sydney. These trading centers ensure the market goes on without stopping, allowing traders from all over the world in different time zones to participate in forex trading.

Participants of Forex Trading

Forex trading is mainly conducted by central banks, corporations, retail traders, and many other players.

Central banks are participants in intervening in the forex market. In contrast, banks such as Goldman Sachs, HSBC, JPMorgan, and others conduct forex trades, acting as market makers to provide liquidity to companies, forex brokers, and other participants.

In addition to trading in the forex market, banks also hedge their books if there is a possible risk of currency exchange rates.

Companies work closely with banks in various ways to trade forex, while retail traders tend to be some investors who speculate in the forex market to make a profit from it.

Mechanism of Forex Trading

There are many ways to trade forex, but the basic principle remains the same: all forex transactions made on the forex market depend on the buying and selling of two currencies at the same time.

Most forex trading is facilitated by forex brokers, which offer traders a variety of trading conditions, trading tools, leverage, platforms, and other attractive services to attract traders to its services.

Forex brokers connect traders with other participants in the financial markets and the forex market. However, choosing a forex broker does not mean that you can start trading without any knowledge or practice.

Best Forex Trading App 2022 List

Most experienced traders tend to search for forex brokers based on the trading apps they offer. Therefore, the forex trading apps matter when comparing forex brokers.

To put it simply, a forex trading app is a software that traders use to execute trades in the forex market. It can be seen as a ship or a link between traders and the forex market.

Trading apps provide traders with a way to connect to the market or execute trades and often offer advanced tools such as charts, research, auto-trading options, etc., for traders to improve their trading and enhance their trading experience.

Forex brokers often offer forex trading apps from developers, or they may offer their proprietary trading platforms for traders to use.

Today, forex trading apps for both PC and mobile devices are considered the basic service served to traders.

There are many trading apps to choose from, and you must test each to find one that better meets your trading needs and goals. You need to be aware that forex brokers support or offer not all top forex trading apps. Therefore, you need to study before choosing the best trading apps carefully.

Forex Trading Mobile Apps for Beginners

1. Libertex

Libertex forex trading app for mobile is also good for beginners as it supports trading on more than 180 instruments: stocks, indices, metals, oil and gas, gold and silver, cryptocurrencies. Investors can earn by investing anywhere in the world with the Libertex app. Traders can instantly withdraw profits online. It provides investors with a free demo account with $50,000 for practice.

All investments in one app:

●shares of leading corporations (Facebook, Apple, Microsoft, Coca-Cola)

●indices (Dow Jones, NASDAQ, DAX, and others)

●metals (gold, silver, copper, platinum)

●currencies including popular currency pairs, as well as Bitcoins

●oil and gas

Libertex may be a good choice for you if you:

●want your money to work for you

●want to manage your capital quickly

●appreciate simplicity and convenience

2. eToro

Put it simply; the eToro trading app is a good option in the mobile investment scene. The eToro app supports you to trade and invest a variety of financial assets. The world's leading social trading platform is trusted by millions of users from more than 140 countries.

eToro offers 2,000+ financial instruments across various classes, such as stocks, crypto, and more.

Additionally, to enable traders and investors direct access to the market, some asset classes, such as stocks and crypto assets, offer direct ownership of the underlying assets, which eToro buys and holds in each client's name.

eToro promises a wide variety of benefits on its mobile platform:

●2,000+ assets

●low and transparent fees

●features for novices and experts

●wisdom of the crowd via social trading

●ready-made Smart Portfolios

●intuitive, easy-to-use platforms

3. FXTM Trader

FXTM Trader is an investment app poised to revolutionize your trading experience. This mobile app is perfect for beginners in FX and CFDs trading.

FXTM's new mobile forex trading app is here to meet traders' needs and upgrade their online trading experience since the demand for investment apps has been growing in recent years. You can open and close positions in seconds, access live currency rates, manage your trading accounts, and stay one step ahead of the markets – anytime, anywhere with FXTM's new forex trading app.

With the FXTM Trader app, you can keep track of your balance, profits, and the latest rates. You won't miss a market moment, and you can know your accounts when you leave home.

The trading app has the following features:

●access FXTM's eclectic range of trading instruments

●forex: trade major, minor and exotic currency pairs

●spot metals: trade gold and silver

●Share CFDs on 180 major company shares

●CFDs on Commodities, including UK Brent (Spot), US Crude (Spot), US Natural Gas (Spot)

●CFDs on Indices, including prominent securities in the US, Europe, Australia, and Asia

4. Interactive Brokers Mobile App

Interactive Brokers mobile app, or IBKR mobile app, provides the functionality investors need to trade and manage their accounts on the go.

Traders can access over 135 markets worldwide with the IBKR mobile app.

The Interactive Brokers app supports clients' trading on stocks, options, futures, currencies, bonds, and more no matter where they are with advanced order types and trading tools.

With over 50 data columns and access to institutional quality research, IBKR Mobile provides the same market-moving information as its powerful desktop TWS trading platform.

Interactive Brokers mobile app also has the following advantages:

●securely pre-authorize large purchases with IBKR Mobile

●pre-authorization is easy and takes only a few seconds with the IBKR mobile app for iOS and Android phones

●all deposits require the use of IBKR Mobile authentication (IB Key) for two-factor authentication for US clients

●track your deposit via the Deposit History screen

5. Capital.com CFD Trading App

Capital.com CFD trading app is a popular forex trading app for mobile with those that possess little to no experience in the forex market. Traders can get a streamlined trading experience with Capital.com's intuitive CFD trading platform for mobile devices.

Capital.com's cutting-edge CFD trading app is the ultimate choice for those looking for the most effective trading experience.

Capital.com offers ultra-competitive spreads, high-speed order management, and low minimum trade size. Capital.com has 0% commission and no hidden fees.

The easy-to-use, award-winning CFD trading app has the following features:

●in-depth financial analysis

●trusted by over 500,000+ registered clients worldwide

●access to over 6,500 markets

●deliver regular live market updates and price alerts for clients to keep up with the freshest market data and accurate quotes

●a full set of effective risk management tools

●Offer free trading education with handy trading courses, info-rich trading videos, trading webinars by industry experts, and an easy-to-understand glossary of terms.

6. FOREX.com Mobile Trading App

FOREX.com's proprietary mobile app offers you an opportunity to compete with one-swipe trading, advanced TradingView charts, and real-time trade and order alerts. The mobile trading app is powerful for beginners as it supports trading on currencies, shares, indices, metals, commodities. In addition, it has the following features:

●Clear interface - find a market to trade with ease and build custom watchlists to monitor your favorite markets.

●Performance Analytics - improve your decision-making with the analysis tool that reviews your specific trading habits and behaviors.

●SMART Signals - uncover ready-made trading opportunities with our one-click signals.

●Choose your theme - switch between light and dark visual design.

●Manage your account activity - track open positions, review your trade history and check your account balance.

●Alerts - get real-time alerts for your chosen markets and get notified when your orders trigger.

Best Forex Trading Apps for PC

1. MetaTrader (MT4 & MT5)

MetaTrader can be your choice if you are looking for the best and cheapest online forex trading apps. When it comes to online forex trading, most brokers will offer you a wide variety of trading apps, but MetaTrader apps are the most common. These free trading apps were developed nearly a decade ago. There are two main options for trading apps currently offered by MetaQuotes: MetaTrader 4(MT4) and MetaTrader 5(MT5).

In 2005, software development company MetaQuotes developed the MT4, which has been the most popular trading app since then due to its multifunctionality and ease of use. Between 2007 and 2010, several brokerages added the MT4 as an optional alternative to their existing trading apps due to its popularity with traders and many third-party scripts and advisors. In 2010, MetaQuotes released a successor, MT5. MetaTrader is the most popular trading app for investors to trade forex, futures, stocks, options, and other financial instruments.

MetaTrader owns the following features:

●Offer the leading trading and analytical technologies, as well as additional services.

●Provide an overall analysis of financial markets using a range of real-time charts, including historical information to monitor prices and quotes.

●Offer superior tools for comprehensive price analysis, algorithmic trading applications (trading robots, Expert Advisor), and copy trading.

●Support hedging allows opening multiple positions of the same financial instrument, of the opposite or same direction.

●Deliver a powerful trading system with the Market Depth and a method of separate accounting of orders and trades.

●Offer alerts and financial news.

2. cTrader

cTrader is also a popular forex trading app for Forex, CFDs, stocks, and indices trading. Spotware has developed 'cTrader' as a competing trading app for forex traders in recent years. The forex trading app has the following features:

●more built-in technical indicators and order execution modes

●very user-friendly interface, so it is also favored by some traders and forex brokers.

●A true No Dealing Desk environment.

●Processes hundreds of orders simultaneously, whereas other apps process orders sequentially.

3. Fortrade Web Trading App - Web Fortrader

Web Fortrader is an online trading app accessible from any PC, Mac, or mobile device with a web browser and internet connection.

Web Fortrader leverages all technological advancements and trading benefits. That means you can log in to your account, manage your open trades and control your capitalization exposure – all with just a few taps of your finger.

Web Fortrader has the following features:

●Saves your valuable time and money by providing ways to track, analyze, and trade in a wide range of equity derivatives.

●Delivers real-time data, implements fixes, and enables rapid new trades with ultra-high speed and precision.

●The trading app lets you fine-tune your trading skills with €10,000 virtual money.

●Uses some of the most advanced encryption technologies available when designing its innovative trading interface to guarantee your funds' full confidentiality, anonymity, and safety.

●Makes buying and selling currencies, stocks, indices, and commodities a much simpler endeavor.

4. Plus500 Web Trading App - Plus500 Platform

Plus500 has a simple, easy-to-use site with an especially well-designed web platform.

If you are looking for a highly regulated CFD trading platform with competitive spreads, Plus500 Platform is arguably the best way to trade CFDs on a Mac. In addition, CFDs are more complex than binary options, so the Plus500 app is more attractive to the trading experience.

While there's only one desktop app for Windows, the web version(WebTrader) works great on Mac and is very responsive. As a very popular web-based CFD trading app, Plus500 Platform covers over a thousand CFD markets. It enables clients to trade on movements in the price of forex, cryptocurrencies, equities, commodities, options, and indices without buying or selling the underlying instrument. This innovative CFDs trading platform allows you to trade the most popular forex pairs such as EUR/USD, GBP/USD, and EUR/GBP. It also offers a range of advanced trading tools to protect profits and limit losses.

Plus500 Platform allows you to trade the world's most popular markets and explore endless trading opportunities. In addition, it offers +2000 financial instruments, free real-time quotes, and dedicated round-the-clock customer support.

Additional FAQ

Q1: What is The Official Forex Trading App?

There is no official forex trading app. However, as you learned from the information we mentioned above, you will know that each broker or company can provide its forex trading app. Therefore, you can pick your favorite one and start your forex trading journey. Among all of these apps, MetaTrader is the most popular.

Q2: Can you Get Rich by Trading Forex?

Forex trading refers to exchanging one currency for another to make profits.

By researching the question of whether forex trading can make you rich, you are likely to conclude that it will not. Opinions may vary, but the truth is: a few trades won't make you a millionaire.

There's no denying that it is possible for forex trading to become your daily way of making money, but it takes a lot of patience, learning, and strategies.

Q3: Can You Trade Forex on Your Phone?

Yes. There are a wide variety of forex trading apps for mobile in the market that can meet your forex trading needs so that you can trade anytime and anywhere. You can trade forex, CFDs, and thousands of other trading instruments through these trading apps.