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Best FOREX Trading Apps for 2024

With many years of meticulous FOREX broker testing, Arincen stands out as a voice of authority. Our analyses, shaped by exhaustive data collection, are trusted by many. Each year, we gather 120 data points from more than 100 brokers. Our team of more than 20 people collaborate extensively to produce high-quality broker reviews like this one. For a detailed explanation of how we test brokers, navigate to the bottom of this article.

When a new trader inputs the term “Best FOREX trading apps for beginners” into a search bar, they are thinking of as many as three different things, even though each can fall under the umbrella of a trading app. First, a FOREX trading app in the mind of a trader could be the likes of household name brokers like IG, XTB, and eToro. The second could be the actual trading platform, or free FOREX trading app, like MT4 or MT5. The third thing could be an integrated Website along the lines of Dailyfx and Benzinga that offers news and analysis and also acts as a currency trading app.
In this article, we will discuss the best of each of the three types. We begin with the best FOREX trading apps among the brokers.

7 Best FOREX Trading apps for Beginners in 2024

After a stringent research exercise, here is our list of the Best FOREX Trading Apps for 2024. Later in this article, we will explain more about how we crafted this list:
  1. FXDD - Best Overall Broker.
  2. ICM Capital - Best Deposit and Withdrawal Broker.
  3. XTB - Best Customer Service Broker.
  4. IG - Best Regulations Broker Plus Convenient Platform.
  5. Saxobank - Excellent Private Trading Platform.
  6. CMC Markets - More than 9,000 Assets.
  7. Think Markets - Aimed at the Audience of Traders.
ICM capital Broker

ICM capital Broker

ICM Capital is considered the industry leader in deposits and withdrawals, whereby each withdrawal does not take more than five business days. Moreover, the company offers its customers a handy credit card to withdraw their profits, in addition to enabling customers to use various deposit methods. The company, which is licensed by the UK's FCA, has several branches around the world. Among other things, it has a rich portfolio of assets, especially stocks, offers a low spread, as well as the ability to use MT4.
Broker Evaluation 8.11
Regulatory Bodies
Minimum Deposit 500$
Islamic Account yes
Payment Methods Bank transfer - credit card - Electronic Banks - Crypto
Main Branch United Kingdom
Customer Service 24/5
Demo account yes
Trading Platforms MT4 - MT5 - C TRADER -Web Platform


  • Segregated client funds.
  • Regulated by the UK’s FCA.
  • Established in 2009.
  • More than 10,000 ICM Capital users and traders.
  • Reasonable minimum deposit from $500.
  • Decent funding options.
  • No swaps.
  • MetaTrader4 (MT4) desktop and mobile download.


  • Does not allow scalping.
  • Not ASIC-regulated.
  • Relatively limited range of instruments.
  • Slow live-chat service.
  • Relatively high trading fees.
  • Limited range of trading tools and resources
FXDD Broker

FXDD Broker

FXDD received the highest score in our survey (92.15). One of the first FOREX companies to offer a credit card in order to allow traders to withdraw their profits, this New York-based company has the UK's FCA license under its belt. It also has a rich portfolio of assets, offers a relatively low spread, in addition to the MetaTrader4 (MT4) platform. Further, it has excellent and fast customer service, and also offers traders a variety of ways to deposit money.
Broker Evaluation 7.22
Regulatory Bodies
Minimum Deposit $450
Islamic Account yes
Payment Methods Bank transfer - credit card - Electronic Banks - Crypto
Main Branch United States of America
Customer Service 24/5
Demo account Yes
Trading Platforms MT4 - MT5 - C TRADER -Web Platform


  • Established in 2002.
  • Segregated client funds.
  • Low minimum deposits.
  • No commissions on the Standard Account.
  • A choice of two account jurisdictions.
  • Multiple platform support and comprehensive market data and analysis.
  • A good range of currency pairs and other assets to trade.


  • Not available to traders in the US.
  • Relatively limited range of instruments.
  • EU-client leverage restricted to 1:30.
XTB Broker

XTB Broker

What distinguishes XTB is the fact that it offers the best customer experience among all the companies we have surveyed. Indeed, it boasts the fastest response rate from all the companies under investigation. This is especially relevant, since the market is always on-the-go, and so you need to act fast. XTB offers lots of asset classes, as well as the ability to use the MT4 trading platform. Finally, it maintains a relatively low spread, which is suitable for quick deals.
Broker Evaluation 8.55
Regulatory Bodies
Minimum Deposit 500$
Islamic Account yes
Payment Methods Bank transfer - credit card - Electronic Banks
Main Branch United Kingdom
Customer Service 24/5
Demo account yes
Trading Platforms MT4 - MT5 -Web Platform


  • Long history of operation.
  • Globally recognized, having won multiple awards.
  • Some of the lowest FOREX spreads in the market.
  • Regulated by the FCA (UK).
  • Offers protection for client accounts.
  • Emphasis on customer service.
  • Excellent support, learning and research tools.


  • Does not accept US clients.
  • Non-FOREX spread costs are relatively high.
  • No GSLO.
  • No back-testing or automated trading capabilities.
  • Conditions vary according to regulation and entity.
ig markets Broker

ig markets Broker

IG is arguably the best broker when it comes to security and trust, boasting, as it does, licenses from 10 regulatory bodies, including the all-important FCA from the UK. The company is also a bank and is a publicly traded company in London. It is known for offering more than 10,000 asset classes of currencies, commodities, future contracts, ETFs, indices, cryptocurrencies etc. Further, it has its own state-of-the-art trading platform and offers a relatively low spread.
Broker Evaluation 7.54
Regulatory Bodies
Minimum Deposit 250$
Islamic Account yes
Payment Methods Bank transfer - credit card - Electronic Banks
Main Branch United Kingdom
Customer Service 24/5
Demo account Yes
Trading Platforms Proprietary Platform -MT4 - Web Platform


  • Easy-to-navigate platform that is simple for beginners to master.
  • Margin rates are easy to understand and affordable.
  • Mobile and tablet platforms offer full functionality of the desktop version.
  • Accepts US clients.
  • Access to more than 100 currency pairs
  • Emphasis on education and research.
  • Regulated by the FCA (UK), as well as the CFTC and the NFA (US).
  • Offers protection for UK/EU client accounts.


  • US traders can currently only trade FOREX.
  • No GSLO for US-based traders.
  • No account protection for US clients.
  • Relatively high share-CFD fees.
  • No copy trading or back-testing integration on IG platform.


Saxobank is considered one of the best investment banks in the area of financial markets and currencies, as it offers the very best trading platform and tools from all the companies we have reviewed. Meanwhile, its spread is very low and, as such, suitable for short-term deals; and it offers a large number of asset classes, including currencies, commodities, indices etc. Finally, its customer service is excellent and very responsive to traders' needs.
Broker Evaluation 6.09
Regulatory Bodies
Minimum Deposit 10000$
Islamic Account No
Payment Methods Bank transfer - credit card
Main Branch Copenhagen, Denmark
Customer Service 24/5
Demo account No
Trading Platforms SaxoTrader


  • Extensive range of offerings.
  • Regulated by the FCA (UK) and other top regulators.
  • Great trading platform.
  • Among the industry’s best research.
  • Superior user interface.
  • Offers protection for client accounts.


  • High bond, options and futures fees.
  • Lack of emphasis on customer service.
  • Confusing instrument fee structures.
  • High minimum deposit.
  • Does not accept US clients.
  • No MT4.
  • Lacks live chat.


CMC Markets is thought of as one the best companies, offering some 9,000 asset classes that encompass currencies, commodities, indices, cryptocurrencies, bonds and stocks. The company offers a relatively low spread, the MT4 platform, and fast customer service. It is most suited for traders looking for diversity in asset classes.
Broker Evaluation 7.07
Regulatory Bodies
Minimum Deposit 0$
Islamic Account No
Payment Methods Bank transfer - credit card - Electronic Banks
Main Branch United Kingdom
Customer Service 24/5
Demo account not
Trading Platforms Proprietary Platform -MT4 - Web Platform


  • Extensive range of offerings.
  • Regulated by the FCA (UK).
  • Low FOREX fees.
  • Emphasis on education and customer service.
  • Great Web and mobile platforms.
  • Offers protection for client accounts.
  • Research amenities are industry leading.


  • Does not accept US clients.
  • Limited product portfolio.
  • High stock CFD fees.
  • High CFD spreads for certain indices.
  • Differences between Next Generation and MT4.
  • Complicated account verification.
  • No back-testing or automated trading capabilities.
think markets Broker

think markets Broker

Originally founded in New Zealand in 2010, and moving to Australia within the space of their first two years, Think Markets is a global online brokerage focusing on FOREX and CFD trading. In addition to a range of major and minor currency pairs. Think Markets has an array of CFDs on offer. This includes indices, as well as hard and soft commodities.
Broker Evaluation 8.05
Regulatory Bodies
Minimum Deposit 0$
Islamic Account yes
Payment Methods Bank transfer - credit card - Electronic Banks - Crypto
Main Branch Australia
Customer Service 24/5
Demo account not
Trading Platforms Proprietary Platform -Web platform-mt4- mt5


  • Beginner assistance offered through 24/6 channels.
  • Spreads are as low as 0.0 pips.
  • 24/7 expert customer service.
  • CFD shares and indices come at no extra fee.
  • Zero broker fees for FOREX trading.
  • Technical analysis and quality market information.
  • Percentage allocation management module (PAMM) and Multi-account manager (MAM) accounts available.


  • Direct share trading is on a separate platform.
  • No binary options offered.
  • Commissions charged for two account types.
  • After a strong early start, ThinkTrader user ratings have slid to 3.4 stars.
  • No US, Canada or Japan clients allowed.

There is a high degree of risk involved in trading securities like FOREX, or CFDs, which are highly complex instruments. As a trader, you could be exposed to excessive leverage, questionable broker tactics, market volatility, and limited regulatory protection. Despite your best trading techniques and risk management strategies, your efforts may not be profitable, and you could suffer losses.

What is FOREX?

The FOREX market is the largest financial market in the world, with orders worth some six trillion dollars changing hands daily. It's a place where large institutional investors and retail traders just like you buy and sell global currencies. The FOREX market operates 24 hours a day and five days a week (Monday through Friday), except for international holidays. Brokerage firms play a key role by enabling clients to buy and sell through a trading platform. You can do this either on a personal computer or by using a smartphone. For this reason, it's a good idea to figure out what the best FOREX trading apps out there are. This is what we are all here to learn!

Can You Trade FOREX Over the Phone?

Yes, you can. These days, you can trade FOREX with a mobile FOREX trading app and a smartphone. These apps do more than allow you to trade while you are on the move. They help you keep real-time tabs on the markets and offer global financial and business news as well as technical analysis of current and potential investments. The best FOREX trading apps for beginners are intuitive and easy to navigate. The usability of the app will be one of the big things you'll be watching out for.

What Is a Trading Platform?

In trading circles, an electronic trading platform, also known as an online trading platform, is a computer software program that can be used to place orders for financial products with a financial intermediary over a network. Examples of a trading platform include the MetaTrader platform that features MT4 and MT5. FOREX is not the only asset you can trade on these platforms because most of them are optimized to give you access to other financial assets like stocks, indices, commodities, and more.

What Is the Best Trading Platform App?

FOREX brokers are constantly striving to create the best combination of tools and features that cater to the needs of every trader. The trading platform is a very important part of a FOREX broker’s service offering – some would say it is the most important part. This is because it is the interface that traders spend hours of each day poring over. If there are any design or performance flaws, these quickly become unbearable.
In addition, brokers are obliged to create a full-service offering that includes access to several different account types for traders of every level, rapid execution speeds, as well as detailed market insights and analysis. Traders also want access to the most competitive liquidity providers and charts that are easy to read and use for trading.
Finally, customer service is increasingly important as new traders enter the marketplace and seek answers and assistance.
In our view, MetaTrader, through its signature MT4 and MT5 trading apps, offers the best combination of these features in a FOREX trading app. However, there are other FOREX trading apps around. These include:

A regulated broker adheres to a stringent set of guidelines and operational standards, designed to ensure transparency, security, and integrity in all transactions. Electing to trade with an unregulated broker amplifies the risk of financial loss, fraud, and exposure to unethical practices. For a list of the best regulators, read our article here.

What is a FOREX Trading Services Website?

A FOREX trading services Website is built around the idea of providing data, news, and analysis to drive traffic. Arincen, the very Website you are on now is a social network trading and news information Website. This means that users can share their latest trades and strategies so that other traders in the social network can replicate these strategies and benefit from them. Within a social trading network, traders have access to a community of like-minded people, where they can share ideas and learn from each other. Here are some other examples:
Dailyforex is an example of a site that departs from each of these models to offer SEO-driven content that caters for questions to which most traders are seeking answers. Here is a more detailed breakdown of the types of FOREX trading services Websites out there: contains a vibrant hub of investing information that may take the newbie some time to become comfortable. Its interface is busy and fast-moving to the point that it could be intimidating to inexperienced users. It is a global financial portal and internet brand composed of 29 editions in 23 languages, as well as mobile apps for Android and iOS that provide news, analysis, streaming quotes, and charts. Users will find technical data and financial tools about the global financial markets. Each edition covers a broad variety of local and global financial vehicles, including stocks, bonds, commodities, currencies, interest rates, futures, and options. 
Founded in 2007, has a growing readership worldwide and is now a leading global financial portal committed to constantly launching innovative features and sections to ensure an optimal one-stop source for its readers. With such a busy interface, the Website recently made the lives of endless readers much easier by launching a customizable watch list that allows investors to narrow their focus.


TradingView is an innovative venture by a group of developers and traders with experience in building trading software. They share a vision that trading technology should be easy, powerful, and accessible to everyone. Under the tagline, “Chart, Chat, Trade, Repeat,” the Website allows some 30 million traders and investors to make better, more insightful decisions in the world markets. A quick visit to the Website will confirm that it was, indeed, the result of a labor of love of a few talented developers, as the user experience is simply excellent.
Taking advantage of the latest advancements in cloud computing and browser languages, the idea of bringing interactive charts through any browser to people around the world was made a reality. TradingView also offers a thriving social community for traders to interact and learn, share ideas, and work together to improve their skills. It offers a unique and effortless way to share live charts instantly with technical analysis ideas that bring traders together.

Yahoo! Finance 

Yahoo! Finance is a media property that is part of Yahoo! network. It provides financial news, data and commentary, including stock quotes, press releases, financial reports, and original content. It also offers some online tools for personal finance management. In addition to posting partner content from a wide range of other Websites, it posts original stories by its team of staff journalists. 
As of June 2017, Yahoo! Finance was part of Verizon Media, the media division of Verizon Communications. Yahoo!, the business division of which Yahoo! Finance is a part, is the largest business news Website in the US by monthly traffic. In 2021, Verizon sold its media businesses, including Yahoo! and AOL, to Apollo Global Management.
The ownership changes have seen Yahoo! Finance retain a place of pre-eminence on the global financial news landscape, although it could be argued that this established Website has not evolved in any meaningful way as consumer tastes and demands have changed over time.


Haifa-based Arincen is arguably one of the best online resources for FOREX currency trading. We are a broker agnostic Website that brings traders and experts together to share experiences and provides users with services such as reviews, news, prices, and charts. Featuring an English version and an Arabic version, the company’s Website is divided into several parts, as detailed below:
The News Section
Staying up to date with the latest FOREX news is essential to the success of any trading activity. Arincen, therefore, has established a news desk containing all the latest minute-by-minute news to enable users to stay on top of breaking developments.       
The Signals Platform
FOREX signals are essentially suggested “buy” or “sell” advice based on market trends, as per our unique group of experts. These experts provide a technical analysis of the market, analyze the relevant news and/or look at price movements within a certain period, and then provide their signals.
There are several types of signal platforms. While some are “traditional,” others are more social, which is the case with Arincen
In short, we at Arincen have concluded that no one can succeed in FOREX trading on their own. While several Websites provide signals, Arincen is more transparent about who it recommends and why, giving it an unbiased view. This is why we can boast excellent results when it comes to our experts. 
The Social Network for FOREX Trading
One of the key features of the FOREX market is that it is decentralized. This means that anyone in the world can take part at any time and from any place. That said, the downside is that this nature of the market does not allow traders to cultivate relations with one another. To this end, Arincen has set up a social networking option similar to Facebook, where traders can publish whatever comes to mind via-a-vis FOREX trading. In turn, they can share this information with other traders from their country or elsewhere. All this is done while maintaining the utmost transparency.
The FOREX Blog
FOREX trading is complex enough, so the only way to reduce this complexity is to keep learning. This is why Arincen, through its blog, has authored several informative and well-researched articles covering everything you need to know about FOREX trading
FOREX Academy
The FOREX academy is a toll-free service provided by Arincen, where experts in FOREX trading share their insights through educational courses, both practical and theoretical.
FOREX Companies
Arincen is not a brokerage firm, but rather a company providing services related to the FOREX market. We understand the FOREX world intimately, that's why we can talk with authority about the main players, and give you evergreen advice on how to make your trading career a success. We pay special attention to our broker reviews, so you can get a head start in your research about which broker to choose.
FOREX Analysis
Prudent analysis is key to enlightening the road ahead for Arab FOREX brokers. Otherwise, it is difficult to make informed decisions. Therefore, we have established a special division to analyze FOREX markets. This division is operated and supervised by leading industry experts.   
As in any line of business, you will need tools to help you operate smoothly and, to this end, here are just two of the tools we can provide:
  1. Risk Calculator
    The risk calculator helps you determine in real time the risks involved in your deals so you can proceed with minimum exposure.  
  2. Point Calculator
    This is a tool that enables you to determine the one basis point value for any currency pair or any other financial asset.   
Here's a recap of our services. We are

Can You Use MT4 or MT5 On Mobile?

We have already mentioned how significant the MetraTrader suite of products is in the world of retail FOREX trading. Its two trading platforms, MT4 and MT5, are fully available for download via the Apple app store or the Google Play store. Many of the top FOREX trading apps offer MT4 and MT5 on mobile to open and close positions, as it's a convenient way to trade on the go.

How to Open a FOREX Trading Account and Start Trading FOREX?

With such a developed global FOREX ecosystem, opening an account is easy. To do this, you will need to submit all the relevant documentation to your chosen broker. This includes national identity documents and proof of income. This is part of important Know Your Customer (KYC) legislation. Once your account has been approved, normally one to two days after you make the application, you will be able to fund your account by making the first deposit. After your account is funded, working on the best FOREX trading apps awaits!

How to Learn FOREX Trading Direct and to the Point?

Although this is not the primary aim of this article, we will let you know about some of the most important terms you will come to understand as your trading journey unfolds. For traders new and old, information is a powerful resource that will make you a better and more successful trader. If anyone ever suggested that FOREX traders could sit by idly and rake in the profits, they were wrong. Trading any type of financial asset, especially volatile ones, requires deep and consistent self-study.


In FOREX trading, a pip is a unit of measurement for the change in value of a currency pair. It stands for “percentage in point” or “price interest point.” A pip is typically the fourth decimal place in a currency pair and is a measure of how much the value between two currencies changes.


In FOREX trading, the term “lot” refers to the standard size of a trade. It is the unit of measurement used to describe the volume or size of a FOREX trade. There are three main types of lots in FOREX trading: standard lot, mini lot, and micro lot. The sizes mentioned here descend in size.


A position size in FOREX trading refers to the number of lots or units of a particular currency pair that a trader buys or sells in a trade. Position size is an important aspect of FOREX trading as it directly affects the potential risk and reward of a trade.


In FOREX trading, a spread refers to the difference between the bid price and the ask price of a currency pair. The bid price is the price at which a trader can sell a currency, while the ask price is the price at which a trader can buy a currency.

Japanese Candles 

Japanese candlesticks, or simply candles, are a popular type of chart used in FOREX trading to represent price movements of a currency pair over time. A candlestick chart consists of individual candlesticks that each represent a specific timeframe, such as a minute, an hour, a day, or a week.
Each candlestick on the chart provides information on the opening, closing, high, and low prices of the currency pair during that time frame. The body of the candlestick represents the range between the opening and closing prices, while the wicks, or shadows, represent the high and low prices during that period. If you want to know more about this important trading tool, read our detailed article here.

Technical and Fundamental Analysis

Technical analysis is the study of historical price and volume data to identify patterns, trends, and potential future price movements. Technical analysts use various tools and indicators, such as chart patterns, moving averages, and oscillators to analyze market data and make trading decisions.
Fundamental analysis, on the other hand, involves analyzing the larger economic, financial, and political factors that may influence the value of a currency or other financial instrument. This may include reading news articles to analyze such factors as interest rates, GDP, inflation, political stability, and global events that may impact the economy.

Tip: Invest in Your knowledge
For every aspiring retail trader, knowledge is key to a successful trading journey. We invite you to delve into Arincen's goldmine of insights, strategies, and expert analyses. Whether you're just embarking on your trading venture or trying to level up your trading game, our resources are designed to give you all the information you need. Visit our educational resources here.

How to Choose the Best FOREX Trading App

Making your choice between the best FOREX trading apps for beginners is not a task to take lightly. There are so many important factors to consider. Luckily, we have done much of the heavy lifting in terms of categorizing the major areas you will need to investigate. Be sure to study all the points in this section so you can make the most informed decision.

Regulation and Licensing

This is perhaps the single most crucial piece of advice you will receive as a beginner trader. Regulation is everything. The best FOREX trading brokers are all regulated by a reputable authority. In fact, being regulated is the norm, rather than the exception.
The top FOREX trading apps must be regulated by the same regulators that oversee other financial assets, such as crypto, commodities, and indices. Remember that you do not have to use a broker with international regulation if your local broker is regulated by a solid local regulator.
Regulators play such a key role in keeping the activities of brokers above board. This is why you must be sure to check that your broker’s registration details are in good standing, by visiting the website of the regulator that oversees them.
Let's say you are a trader resident in the UK. FOREX brokers operating in this country must be authorized and regulated by the Financial Conduct Authority (FCA). This is a strong indicator that they are a safe bet for clients. As a member of the FCA, firms must offer investor fund protection to the tune of £85,000 through the Financial Services Compensation Scheme (FSCS). These rules also mandate negative-balance protection for traders and ensure that only suitably qualified people can run FOREX firms. FOREX brokers also must keep client funds segregated from operating funds.
While the FCA is the pre-eminent regulator in the UK, there are other major regulators around the world. If you want to read more about some of the best-regarded regulators, read our article on regulation here. When a broker is under the watch of a regulator, it undergoes stringent assessments to ensure transparency and fair trading practices. Opting for an unregulated broker brings with it significant risks. Don't take those risks.

Be Careful of Non-Regulated Brokers
Your broker should be regulated by a reputable authority who has a history of strong oversight. Your broker does not have to be regulated by an overseas watchdog, you can also go with a regulator in your jurisdiction. To check if your broker is registered with a regulator, navigate to the regulator’s official website.


Different regulators have different guiding policies relative to leverage. Leverage is when your broker lends you extra funds of their own so you can open much higher positions than you would have with your own capital. Brokers in some areas can offer you leverage as high as 500:1. This means for every $1 of your capital, you can open a position worth $500. It sounds like a great proposition, but as much as you can make excellent profits, you can also lose money just as quickly. Key regulators have implemented specific rules to limit the leverage offered to retail traders as a means of consumer protection.
Here are selected leverage rules for CFDs according to some key regulators:
European Securities and Markets Authority (ESMA), Europe
ESMA caps the leverage for CFDs of major currency pairs in FOREX trading at 30:1. This means that traders need to have a minimum of 5% margin of the total trade value.
Commodity Futures Trading Commission (CFTC), U.S.
In the United States, CFD trading isn't permitted for retail traders. However, for related products, like futures, there are specific margin requirements set by exchanges and overseen by the CFTC.
Australian Securities and Investments Commission (ASIC): Australia
ASIC has recently implemented rules capping the leverage for CFDs of major currency pairs for retail traders at 30:1, aligning with ESMA's restrictions.
The FCA has adopted rules similar to ESMA, capping leverage for CFDs of major currency pairs at 30:1 for retail traders.

Leverage, while offering handsome profits, significantly increases potential losses. Engaging in high leverage trading without a robust risk management strategy is like navigating treacherous financial waters without a safety net. Approach leverage with caution, employ sound trading strategies, and always try to develop a comprehensive understanding of market behaviors and how they affect your portfolio when you trade on leverage.

Stop out

The term "stop out" refers to a situation where a broker automatically closes some or all of your open positions to prevent your account from going into a negative balance. This is most relevant for traders using leverage. The stop-out level is typically expressed as a percentage, representing the margin level at which the broker starts to close out open trades. For the sake of clarity, you don't want to get to a point where you must deal with a stop out. It usually means things have gone wrong and you've made heavy losses.
0% Stop-Out Level:
At this level, when the margin level of the account drops to 0%, the broker will automatically close all open positions. This is the most aggressive stop-out level. Essentially, as soon as the equity in the account equals the required margin, the positions are liquidated. This gives no room for your positions to recover even if the market turns in your favor immediately after reaching this level.
50% Stop-Out Level:
Here, if the margin level drops to 50%, the broker will start closing out positions.
It offers a bit more flexibility when compared to the 0% level. The broker will typically close the most unprofitable positions first, and if that's not enough to bring the margin level back above 50%, more positions will be closed until it's achieved.
100% Stop-Out Level:
A 100% stop-out level means that when a trader's equity equals the margin required for the open positions, the broker will start closing those positions. It’s important to know that this is similar to the 0% level but might be worded differently, based on broker terminology.
In any case, the specific percentage and the order in which positions are closed can vary among brokers, so traders need to be aware of their broker's policy on stop-out levels.
It's worth noting that while stop-out procedures are meant to protect traders from negative balances, they can lead to significant losses in volatile markets if positions are closed automatically, especially if the market quickly reverses after the stop out. As such, using protective measures like stop-loss orders and not over-leveraging is always a good ploy.

Payments, Deposits and Withdrawals

It is best to find a broker with several ways to fund your account. The broker should be able to support traditional bank transfers, as well as debit and credit cards and electronic wallets. Processing times should be kept as low as possible. Most reputable FOREX brokers have no trouble in this area and can give you the options you need. However, be sure to compare how your shortlist of brokers approaches this because sometimes there can be subtle but important differences that could swing your decision in favor of one broker over another.
Method Credit Card Wire Transfer Skrill Neteller Cryptocurrency PayPal
Deposit fee $0 $0 + Bank commission 0$ 0$ 0$ Unavailable
Withdrawal fee $30 $30 $30 $30 $30 Unavailable
Method Credit Card Wire Transfer Skrill Neteller Cryptocurrency PayPal
Deposit fee 0$ $0 + Bank commission 1.9% 2.5% Unavailable 3.75%
Withdrawal fee 0$ $15 1% $0 Unavailable 2%
Method Credit Card Wire Transfer Skrill Neteller Cryptocurrency PayPal
Deposit fee 0$ $0 + Bank commission 1% 1% Unavailable Unavailable
Withdrawal fee 1.5% 30$ 1% 1% Unavailable Unavailable
Method Credit Card Wire Transfer Skrill Neteller Cryptocurrency PayPal
Deposit fee 0$ $0 + Bank commission Unavailable Unavailable Unavailable 3.4% + fixed fee
Withdrawal fee 0$ $0 + Bank commission Unavailable Unavailable Unavailable 3.4% + fixed fee
Method Credit Card Wire Transfer Skrill Neteller Cryptocurrency PayPal
Deposit fee 0$ $0 + Bank commission Unavailable Unavailable Unavailable Unavailable
Withdrawal fee 0$ $0 + Bank commission Unavailable Unavailable Unavailable Unavailable
Method Credit Card Wire Transfer Skrill Neteller Cryptocurrency PayPal
Deposit fee 0$ $0 + Bank commission Unavailable Unavailable Unavailable Unavailable
Withdrawal fee 0$ $0 + Bank commission Unavailable Unavailable Unavailable Unavailable
Method Credit Card Wire Transfer Skrill Neteller Cryptocurrency PayPal
Deposit fee 0$ $0 + Bank commission 0$ 2.5% Not mentioned Unavailable
Withdrawal fee 0$ $0 + Bank commission 5.50$ 0-7.5% Not mentioned Unavailable

FOREX Trading Customer Service

You must pick a brokerage firm that can provide good customer support around the clock. This most notably includes the company representatives being easy to reach, fast and polite, which will, in turn, spare you from having to worry about problems later. Be alert for brokers that don't provide multilingual support, or brokers that only help during a short window.
Email Live Chat Phone WhatsApp
Available Available Available Available Available
Quick response Very Fast Very Fast Very Fast Moderate
Email Live Chat Phone WhatsApp
Available Available Available Available Available
Quick response Very Fast Very Fast Very Fast Very Fast
Email Live Chat Phone WhatsApp
Available Available Available Available Not Available
Quick response Very Fast Moderate Moderate Not Available
Email Live Chat Phone WhatsApp
Available Available Available Available Not Available
Quick response Very Fast Very Fast Moderate Not Available
Email Live Chat Phone WhatsApp
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Commissions and Fees

Trading fees can sometimes be difficult to track. Always check how these fees compare with industry standards:
Spreads: There are two main kinds of spread, one is fixed and the other is variable. Generally, the spread refers to the difference or gap between two prices, such as the bid/ask rate in a currency exchange rate. An example of a good spread is 1.4 pips for the EUR/USD (the narrower the better, this means that a spread of 1.4 pips is better than a spread of 2 pips). This article explains more about this important concept.
Commission: This is nothing more than the service charge that brokers require for carrying out transactions on behalf of their clients.
Rollover fees: When you leave a trade open overnight, the broker normally charges a rollover fee for the facility of holding your trade open for that period. This is because they assume the risk of the market changing adversely.
Withdrawal and Deposit Fees: Some platforms might charge fees for depositing or withdrawing funds. Pay attention to this. It's important to be aware of these and any associated limits or conditions.
Subscription or Inactivity Fees: Certain platforms have monthly charges or fees for inactive accounts. Ensure you're aware of these potential costs.
Spread Commission Swap Islamic Account
Currencies Starting from 0.4 Pips 0$ No Available
Stocks Starting from 0.04 Pips 0$ Yes Unavailable
Commodities Starting from 0.17 Pips 0$ No Available
Indices Starting from 1.30 Pips 0$ No Available
Spread Commission Swap Islamic Account
Currencies Starting from 1.3 Pips 0$ No Available
Stocks Starting from 18 Pips 0$ Yes Unavailable
Commodities Starting from 2.3 Pips 0$ No Available
Indices Starting from 4 Pips 0$ Yes Unavailable
Spread Commission Swap Islamic Account
Currencies Starting from 0.2 Pips 0$ No Available
Stocks Not Mentioned 0$ Yes Unavailable
Commodities Starting from 8 Pips 0$ No Available
Indices Starting from 4 Pips 0$ Yes Unavailable
Spread Commission Swap Islamic Account
Currencies Starting from 0.6 Pips 0$ Yes Unavailable
Stocks Starting from 2.4 Pips 0$ Yes Unavailable
Commodities Starting from 0.1 Pips 0$ Yes Unavailable
Indices Starting from 0.2 Pips 0$ Yes Unavailable
Spread Commission Swap Islamic Account
Currencies Starting from 0.9 Pips $0 Yes Unavailable
Stocks Starting from $0.02 $6 Yes Unavailable
Commodities Starting from $0.6 $6 Yes Unavailable
Indices Starting from $0.7 $6 Yes Unavailable
Spread Commission Swap Islamic Account
Currencies Starting from 0.5 Pips $0 Yes Unavailable
Stocks Starting from $0.2 $10 Yes Unavailable
Commodities Starting from 0.2 Pips $0 Yes Unavailable
Indices Starting from 0.5 Pips $0 Yes Unavailable
Spread Commission Swap Islamic Account
Currencies Starting from 0.4 Pips $0 Yes Unavailable
Stocks Starting from 0.1% $0 Yes Unavailable
Commodities Starting from $0.19 $0 Yes Unavailable
Indices Starting from 0.4 Pips $0 Yes Unavailable

Trading Platforms, Tools, and Features

When choosing the perfect trading platform, retail traders should consider an array of features that cater to both novice and seasoned traders alike. In our experience, MT4 has become a staple in the online trading world for its user-friendliness, speed of execution and advanced tools. This platform has been around for many years, first created as a FOREX-only trading platform that has since been expanded to offer other instruments, like stocks, indices, and commodities. In any event, whether you choose a broker with MT4, or your broker uses another platform, these are the elements of which you need to be aware:

Tradable Assets and Instruments

The world of online trading offers a diverse range of financial instruments, each with its own set of opportunities and challenges. Here’s a list of the most common:
Brokers Currency pairs Stocks Indices Commodities Crypto ETFs
FXDD 67 Pairs 1100 Shares 45 Indices 10 Commodity 30 Coins 1200 ETFs
ICM Capital 67 Pairs 89 Shares 17 Indices 12 Commodity 6 Coins Unavailable
XTB 57 Pairs 1848 Shares 36 Indices 22 Commodity 22 Coins 135 ETFs
IG 108 Pairs 20000 Shares 200 Indices 20 Commodity 5 Coins 200 ETFs
Saxo Bank 320 Pairs 22000 Shares 200 Indices 200 Commodity 9 Coins 6700 ETFs
CMC Markets 330 Pairs 8000 Shares 80 Indices 100 Commodity 18 Coins 200 ETFs
Think Markets 46 Pairs 3750 Shares 15 Indices 11 Commodity 21 Coins 350 ETFs

Can you Get Rich by Trading FOREX?

FOREX trading may make you rich if you are a hedge fund with deep pockets or are an unusually skilled currency trader. However, for the average retail trader, rather than being an easy road to riches, FOREX trading can be a rocky highway to enormous losses and potential heartache.

Who is Arincen and What do We Do?

Put simply, Arincen is a social networking platform that brings together traders and experts to exchange expertise and ideas. Together, we evaluate the best FOREX companies in the world while offering a comprehensive suite of services and tools, all in one place, either via a computer or a mobile app. The platform is so rich that you can create your own private portfolio of traders and experts you like and, at the same time, follow their recommendations and investment sentiments.           
Further, thanks to Arincen, users can keep an eye on market-price developments, as well as the latest news. Users can also benefit from the network’s educational courses on offer, to say nothing of exciting Webinars – all done in a modern and fast-paced work environment. Get all that you need in one place. Our motto: We Meet to Simplify the Trading World.


Technology does not stand still. Today's innovations are arriving ever faster. The best FOREX trading apps are keeping up. With always-improving technology, trading FOREX online is becoming a much more predictable and profitable activity. Many of the top online FOREX brokers are long-established, well-regulated brokers who are always trying to improve their products and the trading experience of their clients. With immersive platforms, insightful market analysis, and profitable trading signals, clients will find a home with any of the top FOREX trading apps for beginners we have recommended.
Regardless, it still falls on you to conduct your research before entrusting your capital with a broker. In this article, we showed you the most important factors to consider before selecting the best FOREX trading app. Be sure to conduct thorough due diligence along these lines before you decide which online FOREX broker’s app to use.


The expert team at Arincen collected more than 120 pieces of data covering in excess of 100 licensed FOREX companies. Data collection was done in three ways:
  1.  Companies’ Websites.
  2.  Other Websites that have ranked FOREX companies.
  3. A survey questionnaire (referred to here as Survey “1”) was sent to the companies invited to participate in the exercise. We have identified 13 criteria for our assessment, each containing several aspects and carrying its own relative weight. These include licensing, deposits and withdrawals, number of assets, etc.     
Afterward, we validated the data by:
  1.  Registering with FOREX companies as a secret shopper and/or as Arincen.
  2.  Survey number “2,” in which we asked these companies’ customers for important feedback and past experience.
The next step saw us evaluate and rank each company, relying on the hard work of 15 Arincen employees. We were very careful in ensuring the most accurate assessment possible, including taking into account different languages, as well as the various mobile-app operating systems; e.g., Apple, Samsung etc.
To add credibility to our research project, we sent a final and third survey (referred to here as Survey “3”) to enable participating FOREX companies to evaluate our research and whether it accurately reflects the realities on the ground. We were fortunate enough to receive a mark of 9.9 out of 10! We have kept to a minimum the margin of error, which stood at a measly 1%.  To learn more about how we came up with the evaluation, please click here.

Forex Risk Disclaimer
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.


Is FOREX trading taxable around the world?

In general, FOREX trading is taxable around the world, even though there are exceptions. To be sure of whether this applies to you, contact a tax expert in your area, and remember that tax laws and regulations can be complex and change over time. However, in most countries, profits from FOREX trading, whether they are seen as capital gains or ordinary income, are indeed subject to tax. Here are some major countries and regions where you can definitely expect to pay tax: United States, United Kingdom, Australia, Canada, India and the European Union. Singapore, UAE and Qatar are examples of countries where FOREX trading is not taxed.

What features do the best FOREX trading apps offer?

The best FOREX trading apps offer access to live market data, analysis tools, and a variety of trading instruments. Some apps also offer such features as social trading, automated trading, and educational resources.

Are the best apps easy to use and navigate?

The best app's user interfaces should be intuitive and easy to navigate, with clear labeling of features and options. A well-designed app will allow users to execute trades quickly and easily, without confusing or complicated processes.

How much does the best app cost and what are the fees for trading?

Different FOREX trading apps have different fee structures, including commissions, spreads, and other trading costs. Some apps also require a minimum account balance or charge subscription fees. Consider these costs when choosing an app.

Do apps provide real-time market data and analysis tools?

Access to real-time market data and analysis tools is essential for successful FOREX trading. Look for apps that offer up-to-date market information and a variety of analysis tools to help you make informed trading decisions.

Can you trade different currencies and financial instruments?

FOREX trading apps should allow you to trade a variety of currency pairs and other financial instruments, such as stocks, commodities, and cryptocurrencies. Look for apps that offer a wide range of trading options to diversify your portfolio.

What security measures does the app have to protect user data and funds?

Security is critical when it comes to FOREX trading apps. Look for apps that use industry-standard security measures to protect user data and funds, such as two-factor authentication and encryption.

What customer support options are available through the app?

FOREX trading can be complex, and it is essential to have access to customer support when you need it. Look for apps that offer multiple customer support options, such as email, phone, and live chat.
Written by
Adrian Ashley
Adrian Ashley is a seasoned business and finance writer. With a corporate career spanning over 20years, he has developed deep experience in such diverse areas as investing, business, finance,technology and macroeconomics. He is passionate about captu...
Edited by
Marwan Kardoosh
The Editorial Department at Arincen makes an important contribution to the world-class content that...
Fact Checked by
Bahaa Khateeb
 Bahaa Khateeb is currently the CEO of Arincen, a start-up Fintech company based in Haifa. Baha...
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