In an ever-changing market space, brokers of all kinds are fighting neck and neck trying to develop the most advanced and optimized trading app possible. Naturally, this dedication has resulted in some very impressive technological advances over the last few years.
In fact, the market is now developing so quickly that it can be hard to keep up with the latest changes and updates.
So in an attempt to sort things out, we contacted a collection of trading experts to get their opinion on the best forex trading apps on the market, and we rounded up their opinions in the following post.
What is a Trading App?
It could mean two things.
As the term entails, a forex trading app is an app that is used for forex trading, it’s as simple as that. However, there are apps for pretty much any and every market out there, and since the markets are very different, it’s not fair to compare them with each other.
Because of this, we decided to only focus on the biggest and fastest moving market of them all: the forex market. Due to the popularity of forex trading, most of the impressive technological advances are happening within the forex industry and here is where you’ll also find the best trading apps.
Note that most forex brokers today are not only offering forex trading but also CFDs which means that the leading forex trading apps mentioned below are very versatile.
A Trading app could also mean a more educational, news related, or market update type of app. Because of this, we decided to look on the topic from both perspectives.
Which Are the Best Trading Apps?
After talking to a selection of trading experts regarding trading apps we came to the conclusion that the following three trading apps are the best right now.
- MetaTrader 4 and 5
MetaQuotes is the name of the company that developed two of the best trading platforms thus far and who is responsible for the mobile versions of those platforms. The MetaTrader 4 app was designed as a forex trading app, and it is by far the leading forex trading app on the market right now according to the experts.
The platform’s younger brother, the MetaTrader 5, was designed with a focus on CFDs, and since the two apps share a lot of similarities, they both qualify as the best trading app on the market right now.
TradingView might be the most iconic trading platform ever and software that every serious forex trader has used at some point. Besides offering access to a majority of the world’s forex pairs and some of the most impressive charts we’ve ever used, TradingView can also be used for commodity and regular stock trading.
What all the trading experts we reached out to for this article agrees on is that TradingView’s Android and iOS apps have gone through some major developments recently which has resulted in one of the most technologically advanced forex trading apps available.
- eToro’s Trading App
We weren’t really expecting to find a specific broker’s trading app on this list, but it seems to be the consensus in the industry that eToro has developed a trading app that outranks most other mobile trading tools out there.
What sets eToro’s trading app apart from other trading apps is the copy trading feature as well as the world-leading social trading network that eToro has nurtured for years.
Better yet, eToro has managed to create a trading app that is just as good for beginners as it is for experienced professionals.
Let’s Sum it Up
If we listen to the trading community, the three trading apps mentioned above belong to the top-tier of forex trading software, and if you’re looking to start trading on your mobile device, we would suggest that you pick one of them.
As mentioned in the beginning, the trading industry is ever-changing, and it will be interesting to see how this list keeps up in the future or if other brokers and entities will be able to compete with these three top trading apps.