Last Updated on:

May 28, 2021

Best forex trading apps in 2020

Online trading applications are completely capable of providing access to market data, news, charts and ideas for trading. With an estimated trading volume of $6.6 trillion a day in April 2019, the forex market is the world 's largest asset class. With the use of leverage to boost profit and loss margins and with respect to account size, you can start with low capital.

With a Contract for Difference (CFD) account, most forex brokers have greater leverage than conventional trading. Up to 30:1 leverage, the leverage can be as low as 2:1 leverage.

Let's explore the Best forex trading apps, You can download from the App Store & Google Play.

Best Free forex trading apps in 2020

Pepperstone

This CFD trading platform is a Melbourne-based broker specializing in providing markets access to 150++ financial instruments, including Forex, index, share, commodities, cryptocurrencies and currency index CFDs.

Most of the orders are executed in less than ~30ms*, which is ideal for scalpers and clients who run expert advisors.

You can choose your prefer platform to start trading with:

  • MetaTrader 4
  • MetaTrader 5
  • cTrader

You can even utilise the social trading platforms to help you access strategies and copy the experts’ trades from the world’s best traders.

  • Myfxbook
  • MetaTrader Signals
  • DupliTrade

Pepperstone didn’t charge minimum commission for each of the transactions, Standard minimum spread will apply for the buying and selling of currency pairs

OctaFx



OctaFX is a multi-award winning broker with the aim to help Forex traders find the best trading conditions in the Forex market.

You can trade 28 Currency Pairs, 10 Stock Indices, 3 Cryptocurrencies, 2 Metals, and 2 Energy assets with OctaFX platform. You can choose to use MT4 Micro, MT4 Pro and cTrader ECN platform. Best of all, you can learn about forex trading from OctaFX Education resources hub and webinar series.

OctaFX didn’t charge commission for each of the transactions, no swap fee for holding overnight position, no fees for fund deposit and withdrawal, Spreads will apply for the buying and selling of currency pairs. OctaFX offers the lowest spread in the industry.

Forex.com

FOREX.com’s trading platform is built for currency traders with the needs for maximum performance, flexibility and speed. With the 0.05 secs Average Trade Execution Speed and 99.78% Of Trades Executed In less than 1 second. 

You can trade up to 4,500+ Stocks with Forex.com and other financial assets including forex pairs, Indices,Commodities and Cryptocurrencies. Use the built-in features to analyze the market with 80+ technical indicators, 50+ drawing tools, and 100s of integrated trading strategies with predefined templates. 

You can choose your prefer platform to start trading with:

  • FOREX.com trading platform (Web / Mobile / Desktop )
  • MetaTrader 5

Plus500



Plus500 trading apps is one of the highest rated CFD trading apps on Apple’s App Store and Google Play as it has been reported that 40% of the Plus500 transactions were made by either Smartphones or tablets from 200,000 Active customers and 1310+ Billion Traded value.

You can find a variety of financial instruments from Plus500 platform to trade for 2000 stocks from 23 global Shares markets from US,Uk, Europe, Hong Kong,Japan, Australia and much more. 

You are allowed to use Leverage of up to 1:5 leverage to start trading with as little as $500 to gain the effect of $2,500 capital.

FxPro

Fxpro
Fxpro

FxPro was founded in Cyprus during the year of 2006, and named as the Forex Provider of the Year “at the Financial Times Investors Chronicle Investment Awards 2010 (FT / IC Investment Awards) in 2010. 

You can trade Contracts for Difference (CFDs) accounts on 6 asset classes such as Forex, Shares, Spot Indices, Futures, Spot Metals and Spot Energies. With FxPro platform, you can execute trades with Average execution time of 11.06 ms. All client trades are executed with No Dealing Desk intervention. Most trades are filled in under 10 milliseconds., with up to 2,000 trades executed per second.

The recommended minimum initial amount is 1000 USD. However, you may fund as little as 100 USD each time.

Trading212

Trading212-CFD
Trading212-CFD

Trading212 is the popular and highly rated trading & investing app with Over 15 million downloads on google play and App store. Trading212 has been ranked #1 in the UK since 2016 and #1 in Germany since 2017. 

You can trade in 6500+ global stocks and 2500+ instruments including 150 Forex pairs, 30 indices, gold, commodities, crypto and with Trading212 CFD.

Trading 212 didn’t charge commission for each of the transactions, no Deposit fee, no Withdrawal fee and Minimum deposit amount USD 10 or EUR 10. 

Trading 212 platform comes with an easy to use interface that is Ideal for beginners. An organized layout to view your watch-list, pending orders or previous purchases and detailed graphs of any instrument in one page. 

Best of all, you can learn with the Trading212 High Level education section filled with videos on their official Youtube channel.

IG

IG Screenshot
IG Screenshot

IG is a Award-winning trading platform that offers trader with Fast & efficient trade executions. As of 2019, 86 million trades were transacted under IG with 0.014 seconds average execution speed.You can trade over 17,000 markets, including more 24-hour indices than any provider and extended hours trading on US shares. 

IG allow you to purchase share by paying 5% margin for the stock from:

  • US
  • Australia
  • UK
  • Euro
  • Japan
  • Canada 
  • New Zealand
  • Hong Kong SAR
  • Denmark
  • Norway
  • Sweden
  • Switzerland
  • Singapore

 

About the author 

Income Junctions

Business Idea & Investing for Solopreneur Income Junctions helps you to find ways to make money online, get inspiration and advice to starting a business on your own, and investing tips for solopreneur.

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