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10 Best FREE Forex Trading Apps

Best FREE Trading Apps

 

The Top 10 Best Free Forex Trading Apps revealed. We have rated and reviewed the Best Free Forex Trading Apps available.

 

This is a complete listing of The 10 Best Free Forex Trading AppsIn this in-depth write-up you will learn:

 

  • What is the Best Free Forex Trading App suited to Beginner Traders?
  • Pros and Cons of Trading Forex with an App.
  • App Trading – How does it work?
  • Trading Apps – Explained.

 

and much, much more!

 

 

Forex Trading App – A definition

 

The term “Trading App” refers to the use of wireless technology in securities trading. A Trading App will allow traders to access trading platforms from their smart devices. This technology allows for easier access and portfolio management.

 

 

10 Best Free Forex Trading Apps – A Comparison

 

🔎 Broker📱 Trading App🚀 Open an Account
🥇 Saxo Bank✅ SaxoTraderGo👉 Click Here
🥈 IG☑️ IG App👉 Click Here
🥉 CMC Markets✅ Next Generation👉 Click Here
🏅 TD Ameritrade☑️ ThinkOrSwim👉 Click Here
📌 City Index✅ City Index Mobile👉 Click Here
📍 Forex.com☑️ Forex.com Mobile👉 Click Here
📌 Oanda✅ Oanda FX Trade👉 Click Here
📍 ThinkMarkets☑️ ThinkTrader👉 Click Here
📌 FXPro✅ MetaTrader4👉 Click Here
📍 XM☑️ MetaTrader5👉 Click Here

 

 

 

 

10 Best Free Forex Trading Apps (2022)

 

  1. Saxo Bank – Overall, Best Free Forex Trading App
  2. IG – User-Friendly Forex Trading App
  3. CMC Markets – Reliable Trading App and Tools
  4. TD Ameritrade – High Google Playstore rating
  5. City Index – 10K+ Trading App Downloads
  6. Forex.com – Best Trading App suited to Beginners
  7. Oanda – Popular Trading App
  8. ThinkMarketsSmart Phone Compatible App
  9. FXPro – Market-Leading MetaTrader4
  10. XM – Best Trading App for Pro Traders

 

 

Saxo Bank Review

 

Saxo Bank

 

Overall, Saxo Bank can be summarised as a credible and trustworthy broker and is considered low-risk with competitive trading fees and spreads. Saxo Bank has an overall trust score of 80 out of 99. Offers traders 60,000+ instruments on selected accounts

 

Saxo Bank Overview

 

🔎 Broker🥇 Saxo Bank
💵 Min. Deposit$2000 USD
✋ Inactivity Fee☑️ Yes
🆓 Demo Account☑️ Yes
✒️ RegulationFSA / FCA
🚀 Open an Account👉 Click Here

 

Saxo Bank Overview

 

SaxoTraderGo Trading App

 

The SaxoTraderGo Trading App offers traders a comprehensive range of trading and investing features with a user-friendly interface.  Notable features include Fundamental trading tools, New, Expert research, and an extensive charting package.  The SaxoTraderGo trading app is available for download on both the Google Play and Apple Store platforms.

 

Saxo Bank Trading Platform

 

Saxo Bank Pros and Cons

 

✅ Pros ❌ Cons
Great trading platformHigh bond, options and futures fees
Excellent ResearchHigh minimum deposit
Extensive product portfolioLacks Customer Support options

 

Best UK Forex Brokers Saxo Bank

Overall Rating

4.7/5

Rated #60 of 
Recommended FX Brokers

💰Minimum Deposit

USD 10 000

🌐 Regulators

MiFID

📱 Trading Desk

No Trading Desk

Crypto

Yes

📈 Total Pairs

170

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

IG_Reviewed and Rated

 

IG

 

Overall, IG can be summarised as a trustworthy broker that provides Contracts for Difference (CFDs)
and low spreads on 70+ trading instruments. IG is regulated by two tier-1 regulators (highest trust)
and it has a trust score of 96 out of 100.

 

IG Overview

 

🔎 Broker✅ IG Group
💰 Trading Fee ClassHigh
💵 Inactivity Fee✔️ Yes
💳 Minimum Deposit$140 USD
💡 Base currencies6
✅ Demo Accounts✔️ Yes
📌 Products OfferedETF, Forex, Options
🔎 Open an Account👉 Click Here

 

IG Safety and Security

 

 

IG Mobile Trading Platform

 

The IG Mobile trading platform allows users to trade wherever and whenever they want.  The IG Mobile trading platform has full dealing functionality, comprehensive risk management, full-screen charts, direct alerts, and much more.

 

IG Trading Platforms

 

IG Pros and Cons

 

✔️ Pros❌ Cons
Excellent Web-Trading PlatformHigh Forex and Stock CFD Fees
Excellent Educational ToolsLimited Product Portfolio
Great Deposit and Withdrawal optionsSlow Customer Support

 

Overall Rating

4.8/5

Rated #38 of 
Recommended FX Brokers

💰Minimum Deposit

USD 0

🌐 Regulators

FCA, CFTC, NFA, BaFin, FINMA, ASIC, FMA, MAS, FSA, FSCA, DFSA, JFSA, METI, MAFF.

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

80

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

CMC Markets Review

 

CMC Markets

 

Overall, CMC Markets can be summarised as a trustworthy broker that provides Contracts for Difference (CFDs) and low spreads. It is regulated by five tier-1 regulators (high trust) and one tier-2 regulator (average trust). It has a trust score of 99 out of 100.

 

CMC Markets Overview

 

🔎 Broker🥇 CMC Markets
💰 Min. Deposit$10 USD
🛑 Inactivity Fee☑️ Yes
💻 Demo Account☑️ Yes
💵 Base Currency10
🚀 Open an Account👉 Click Here

 

CMC Markets Sign Up Bonus

 

CMC Markets Mobile App

 

The CMC Markets mobile app is an award-winning trading platform that offers users 12,000 markets at their fingertips. The CMC Markets mobile app also comes with Advanced order ticketing, mobile-optimized charting, 40+ technical indicators, drawing tools, instant notifications, and much more.

 

CMC Markeys Trading App

 

CMC Markets Pros and Cons

 

✔️ Pros❌ Cons
Low forex feesHigh stock CFD fees
Great mobile platformsOnly CFDs available
Advanced research toolsCustomer support only 24/5

 

Overall Rating

4.7/5

Rated #227 of
Recommended FX Brokers

💰Minimum Deposit

USD 0

🌐 Regulators

FCA, ASIC

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

300

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

TD Ameritrade Review

 

TD Ameritrade

 

Overall, TD Ameritrade can be summarised as a trustworthy broker with $0 USD, R0 ZAR commissions on trades, enhanced trading platforms, top-line education, and an overall full-service brokerage experience.

 

TD Ameritrade Overview

 

🔎 Broker🥇 TD Ameritrade
💴 Minimum Deposit$0 USD
💵 Minimum Deposit$0 USD
💰 Options (per contract)$0.65 USD
✋ Inactivity FeeNo
💳 Withdrawal FeeNo
📌 Products offeredStock, ETF, Forex, Fund, Bond, Options, Futures, Crypto
📝 Demo AccountYes
🚀 Open an Account👉 Click Here

 

TD Ameritrade Overview

 

ThinkOrSwim Trading Platform

 

The ThinkOrSwim Mobile Platform is one of the most advanced platforms available to date.   The ThinkOrSwim Platform offers users unlimited access to multi-leg options, stocks, futures, forex, and 24/5 trading.

 

Think Or Swim App

 

TD Ameritrade Pros and Cons

 

✅ Pros❌ Cons
Low trading feesOnly US Markets
Excellent Mobile Trading PlatformLimited Accounts
Great customer supportNo Credit / Debit Cards

 

Overall Rating

4.5/5

Rated #537 of
Recommended FX Brokers

💰Minimum Deposit

USD 2000

🌐 Regulators

SEC

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

City Index Review

 

City Index

 

Overall, City Index can be summarised as a safe broker that provides competitive spreads on Contracts for Difference (CFDs). It offers 1200+ trading instruments with a trust score of 94 out of 100.  City Index is fully regulated by three tier-1 regulators (highest trust score in the industry).

 

City Index Overview

 

🔎 Broker🥇 City Index
💰 Min. Deposit$100 USD
🔁 Tradeable Symbols12000
1️⃣ Tier-1 Licenses3
📈 Forex Pairs84
💻 Mobile Trading App✅ Yes
4️⃣ MT4✅ Yes
🚀 Open an Account👉 Click Here

 

City Index Landing Page

 

City Index Mobile Trading App

 

The City Index Mobile Trading App offers users unlimited access to all City Index spread betting and CFD markets, flexibility, Live trading View Charts, Real-Time price alerts, and much more.  The City Index Mobile App is available via PlayStore and Apple Apps for iOS and Android.

 

City Index Mobile App

 

City Index Pros and Cons

 

✅ Pros ❌ Cons
Very Well-RegulatedNo MetaTrader5
Excellent Mobile AppHigh stock CFD fees

 

Overall Rating

4.7/5

Rated #226 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

FCA, ASIC, MAS

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

65

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Forex.com-Review

 

 

Forex.com

 

Overall, Forex.com can be summarised as a trustworthy broker that provides Contracts for Difference (CFDs) and low spreads on 5500+ tradable symbols. Forex.com is regulated by five tier-1 regulators (highest trust) and one tier-3 regulator. Forex.com has a trust score of 82 out of 100.

 

Forex.com Overview

 

🔎 Broker🥇 Forex.com
💰 Min. Deposit$100 USD
🔁 Spreads from0.1
🔽 Commissions✅ Yes
▶️ Forex Commission$5 USD per round lot
▶️ CFDs/DMA Commission$0.18 USD per share (US Stocks)
🛑 Inactivity Fee$15 monthly after 12 months
💳 Deposit FeeThird-Party
💳 Withdrawal FeeThird-Party
💻 Trading PlatformsMT4, MT5, Proprietary
🆓 Demo Account✅ Yes
☪️ Islamic Account❌ No
🚀 Open an Account👉 Click Here

 

Forex.com-Landing-Page

 

Forex.com Mobile App

 

The Forex.com Mobile App allows users to manage their accounts and trade on the go with power and ease.  The Forex.com Mobile App allows for Lightning-fast execution with access to advanced TradingView charting,  analysis tools, Real-time trade, order alerts plus full account management features.

 

Forex.com Mobile

 

Forex.com Pros and Cons

 

✔️ Pros❌ Cons
Low Forex FeesLimited to Forex and CFDs
Variety of Currency PairsHigh Stock CFD fees
Diverse technical toolsNot user friendly

 

Overall Rating

4.7/5

Rated #231 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

FCA, CySec 

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

50

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

OANDA Review

 

Oanda

 

Overall, Oanda can be summarised as a safe broker that provides competitive spreads on Contracts for Difference (CFDs). It offers 100+ trading instruments with a trust score of 98 out of 100. Oanda is fully regulated by three tier-1 regulators (highest trust score in the industry)

 

Oanda Overview

 

🔎 Broker🥇 Oanda
💰 Min. Deposit$0 USD
🆓 Demo Account ✅ Yes
✒️ RegulationASIC, BVI, CFTC, FCA, FFAJ, FSC, IIROC, MAS, NFA
💻 MetaTrader 4☑️ Yes
🖥️ MetaTrader 5✅ Yes
📌 Mobile AppsiOS, Android and Windows
➕ Copy TradingNo
🤝 Social TradingNo
☪️ Islamic Account☑️ Yes
🚀 Open an Account👉 Click Here

 

Oanda Top Bar

 

Oanda fxTrade App

 

The Oanda fxTrade App is designed to be user-friendly for professional and retail traders alike. The app is secure and super-responsive with a customizable Interface, Multi-Asset product suites, one-click trading, and much more.

 

Oanda App

 

Oanda Pros and Cons

 

✅ Pros❌ Cons
Excellent trading platformsOnly FX and CFD available
Great research toolsNo stock exchange listing
User-friendlyCustomer support is not 24/7

 

Overall Rating

4.9/5

Rated #194 of
Recommended FX Brokers

💰Minimum Deposit

USD 0

🌐 Regulators

FCA, CFTC, ASIC, FSC, BVI and IIROC

📱 Trading Desk

MetaTrader 4 (MT4)

MetaTrader 5 (MT5)

Crypto

Yes

📈 Total Pairs

45 

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

ThinkMarkets Review

 

ThinkMarkets

 

Overall, ThinkMarkets is a legit forex trading company and is a fully regulated and transparent broker with high operational standards, low trading fees, superior service delivery, and helping investors reach their objectives. ThinkMarkets caters to all types of traders with different levels of experience.

 

ThinkMarkets Overview

 

🔎 Broker🥇 ThinkMarkets
📌 RegulationASIC, FCA, FSCA, FSA, CySEC, JFSA
💰Minimum deposit$0 USD
📒Demo account✅ Yes
☪️Islamic account (swap-free)✅ Yes
🔣 Maximum leverage1:500
🚀 Open an Account👉 Click Here

 

ThinkMarkets review updated

 

ThinkMarkets ThinkTrader App

 

ThinkTrader’s award-winning ThinkTrader mobile platform has 550,000+ downloads and 15,000 five-star reviews.  The ThinkTrader app boasts powerful trading tools and unique functionalities.

 

ThinkMarkets App

 

ThinkMarkets Pros and Cons

 

✅ Pros❌ Cons
Narrow market spreadsNo Cent Accounts
Minimum deposit of $0 USDNo Bonus
Highly RegulatedNo Promotions

 

Overall Rating

4.8/5

Rated #62 of 
Recommended FX Brokers

💰Minimum Deposit

USD 0

🌐 Regulators

ASIC, FCA, FSCA, FSA-Seychelles, CySEC, JFSA 

📱 Trading Desk

No Trading Desk

Crypto

Yes

📈 Total Pairs

46 FX Pairs

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

Derivative products are leveraged products and can result in losses that exceed initial deposits.

 

FXPro Review

 

FxPro

 

Overall, FxPro can be summarised as a safe broker that provides competitive spreads on Contracts for Difference (CFDs). It offers 2100+ trading instruments with a trust score of 94 out of 100. FXPro is fully regulated by one tier-1 regulator (highest trust score in the industry).

 

FxPro Overview

 

🔎 Broker🥇 FXPro
💰 Min Deposit$100 USD
📈 Max Leverage1:500
🔁 Spreads from0.1 Pips
4️⃣ MetaTrader4☑️ Yes
5️⃣ MetaTrader5✅ Yes
🆓 Demo Account☑️ Yes
☪️ Islamic Account✅ Yes
🚀 Open an Account👉 Click Here

 

FXPro Landing Page

 

FxPro MetaTrader4 App

 

FxPro makes multiple trading platforms available, including MetaTrader4, Metatrader5, and cTrader.

 

🔎 Trading PlatformFxPro PlatformMetaTrader4MetaTrader5cTrader
📈 EA TradingNo☑️ Yes✅ Yes☑️ Yes
📊 Chart trading☑️ Yes✅ Yes☑️ Yes✅ Yes
📉 Depth of MarketNoNo✅ Yes☑️ Yes
💻 1 click trading☑️ Yes✅ Yes☑️ Yes✅ Yes
📍 Indicators50+50+ / Custom35+ / Custom55+ / Custom
✋ Pending order types4466
📌 Trailing stopNo☑️ Yes✅ Yes☑️ Yes
📱 Price alertsSoundSound, email, notificationSound, email, notificationN/A
📈 Chart typesLine, Bar, candlesticks, Heiken Ashi, HLC & dotsLine, Bar, candlesticksLine, Bar, candlesticksLine, Bar, candlesticks & dots
📉 Chart time frames1592126
📊 Trading Central IntegrationNo☑️ Yes✅ Yes☑️ Yes
📍 SentimentOnly for majorsNoNo✅ Yes
📌 Languages1374922
🖥️ Coding languageN/AMQL4MQL5C#
Integrated Economic ✒️ calendar☑️ YesNo☑️ Yes✅ Yes
📊 Detachable charts☑️ YesNo✅ Yes☑️ Yes
🚀 Open an Account👉 Click Here
👉 Click Here
👉 Click Here
👉 Click Here

 

FxPro Trading Platforms

 

FxPro Pros and Cons

 

✅ Pros❌ Cons
Easy account openingOnly CFDs and forex
Great customer serviceHigh trading fees
Free deposit and withdrawalInactivity fee

 

Overall Rating

4.7/5

Rated #202 of
Recommended FX Brokers

💰Minimum Deposit
USD 100 (recommended amount USD 1000)
🌐 Regulators

FCA, CySEC, FSCA, SCB

📱 Trading Desk

MT4

Crypto

Yes

📈 Total Pairs

70

☪️ Islamic Account

Yes

📊 Trading Fees

High

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

XM Review

 

XM

 

Overall, XM can be summarised as a trustworthy broker that provides Contracts for Difference (CFDs) and low spreads on 1000+ trading instruments. XM is regulated by one tier-2 regulator and one tier-3 regulator.  XM has a trust score of 96 out of 100.

 

XM Overview

 

🔎 Broker🥇 XM
💰 Min. Deposit$5 USD
✒️ RegulationFSC / CySEC
💸 Trading Fee ClassLow
❌ Inactivity Fee☑️ Yes
💳 Withdrawal FeeNo
🆓 Demo Account✅ Yes
🚀 Open an Account👉 Click Here

 

XM Landing Page

 

XM MetaTrader5 App

 

XM makes the popular MetaTrader suit – MetaTrader4 and MetaTrader5 available for PC/MAC, Smartphones and, Tablets.

 

🔎 Platform🥇 MT5🥈 MT4
⌛ Timeframes219
⚙️ Tech. Indicators3830
📊 Analytical Objects4431
✅ Economic Calendar☑️ Yes❌ No
🚀 Platform Speed64 bit32 bit
💻 Order ExecutionMarket ExecutionMarket Execution
📈 Pending Order Types64
📌 Hedging☑️ Yes☑️ Yes
☑️ Strategy TesterMulti ThreadedSingle Thread

 

XM Trading Platforms

 

XM Pros and Cons

 

✅ Pros❌ Cons
Low stock CFD withdrawal feesLimited product portfolio
Fast account openingAverage forex fees
Great educational toolsNo investor protection for non-EU clients

 

Overall Rating

4.5/5

Rated #68 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

IFSC, CySec, ASIC

📱 Trading Desk

MT4

Crypto

Yes

📈 Total Pairs

55

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

XM

 

 

Conclusion

 

👉 Now it is your turn to participate:

 

➡️ Which Free Trading App from this list do you intend to test out?

➡️ What was the determining factor in your decision to engage with a particular broker?

➡️ Was it because of the Broker who offers the Free Trading App or the Pros and Cons?

 

👉 Regardless, please share your thoughts in the comments below.

 

 

You might also like:  Saxo Bank Review

You might also like:  CMC Markets Review

You might also like:  City Index Review

You might also like:  FXPro Review

You might also like:  ThinkMarkets Review

 

 

Frequently Asked Questions

 

Which Broker and Trading App is a favorite choice amongst traders?

ThinkMarkets and the ThinkTrader app are favorite choices amongst traders.

 

Do all Brokers offer proprietary trading apps?

No, although many brokers do make proprietary trading platforms and apps available, a large number of Brokers select to simply offer market-leading platforms such as MetaTrader4, MetaTrader5, or cTrader instead.

 

What is a Forex Trading App?

The term “Trading App” refers to the use of wireless technology in securities trading.

 

What is the most used Forex Trading App in the world?

MetaTrader 4 (MT4) is the world’s most popular Forex trading platform available for download.

 

Where can Trading Apps be downloaded?

Most Forex trading apps will be made available for download on the Google Play Store or Apple App Store.

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

Table of Contents

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