Best FOREX Trading Apps for 2024

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:

• ICM - Capital 91.10: Best Deposit and Withdrawal Broker

• Tradeview: 90.00: Trusted broker that offers very low trading costs as well as comprehensive financial literacy materials for its clients.

• XTB - 85.55: Best Customer Service Broker

• IG - 85.45: Best Regulations Broker plus Convenient Platform

• Saxo Bank - 80.09: Excellent Private Trading Platform

• CMC Markets - 80.07: More than 9,000 Assets

• ThinkMarkets - 80.05: Aimed at the Audience of Traders

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	FCA
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

Pros

• 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.

Cons

• 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

Open Account

Dukascopy Broker

Tradeview Forex, interchangeably known as Tradeview Markets, was established in 2004 and is headquartered in the Cayman Islands, setting itself up as a significant player in the online FOREX and CFD trading world. Regulated by the Cayman Island Monetary Authority (CIMA) and the Malta Financial Services Authority (MFSA), Tradeview Forex is a reliable platform in a competitive market​​​​. The broker’s commitment to offering a broad and accessible trading environment shines through with its low deposit requirement and how it provides various advanced trading platforms to clientele.

Broker Evaluation	7
Regulatory Bodies	FCA
Minimum Deposit	$450
Islamic Account	Yes
Payment Methods	Bank transfer - credit card - Electronic Banks - Crypto
Main Branch	USA
Customer Service	24/5
Demo account	Yes
Trading Platforms	Proprietary Platform-MT4 - MT5 -Web Platform

Pros

• Established in 2004.
• Variety of trading platforms, such as MT4, MT5, cTrader, and Currenex, catering to different trading preferences and strategies.
• Low minimum deposits.
• beginners and experienced traders looking to refine their strategies.
• Supports automated trading through the use of Expert Advisors (EA) on MT4 and MT5 platforms.
• Decent leverage levels of 1:200 available in some jurisdictions.
• Regulated by CIMA, MFSA, and will soon be regulated by the UK’s Financial Conduct Authority (FCA).

Cons

• While regulated by CIMA and the MFSA, the broker is still in the final stages of becoming regulated by the tier-one FCA.
• Trades on the Innovative Liquidity Connector® account are subject to commission charges, which may add to trading costs.
• While offering high leverage up to 400:1 can be an advantage, it also introduces significant risks, especially for new traders.

Open Account

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	FCA
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

Pros

• 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.

Cons

• 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.

Open Account

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	FCA
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

Pros

• 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.

Cons

• 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.

Open Account

SAXO BANK Broker

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	FCA
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

Pros

• 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.

Cons

• 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.

Open Account

CMC MARKETS Broker

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	FCA
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

Pros

• 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.

Cons

• 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.

Open Account

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	FCA
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

Pros

• 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.

Cons

• 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.

Open Account

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?

What Is a Trading Platform?

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:

• NinjaTrader: This popular platform is favored by traders who prefer futures and FOREX trading.

• cTrader: This is a user-friendly and feature-rich FOREX trading platform known for its intuitive interface.

• Thinkorswim: While each of the three best currency trading apps we have mentioned above are third-party apps not affiliated with any broker, Thinkorswim is an example of a broker's (TD Ameritrade) in-house platform. It is very well-regarded in the industry.

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:

• Similar social network model to Arincen: eToro, TradingView, and others

• Similar trading services Website to Arincen: Investing.com, Dailyfx, and others

• Similar rigorous testing and research like Arincen: Forexbrokers and others

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:

Investing.com

Investing.com 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, Investing.com 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

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.

Arincen

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.   

FOREX Tools
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

• a social networking platform that brings together thousands of traders and analysts

• a recommendations platform, allowing users access to the thoughts and market sentiments of key experts in the field 

• a platform for news and analysis, and

• an academy to teach FOREX trading interactively and/or via video. 

Can You Use MT4 or MT5 On Mobile?

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

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.

Pips 

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.

Lot

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.

Position

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.

Spread

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.

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How to Choose the Best FOREX Trading App

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.

Leverage

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.

FCA, U.K.

The FCA has adopted rules similar to ESMA, capping leverage for CFDs of major currency pairs at 30:1 for retail traders.

Stop out

Payments, Deposits and Withdrawals

FOREX Trading Customer Service

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.

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:

• Platform Accessibility is the first consideration. Whether it's web-based or a downloadable application, a top-notch trading platform should offer flexibility in terms of access.

• Customization and User Interface. It's vital for traders to mold the platform according to their preferences, allowing them to set up their trading environment precisely how they want. 

• Technical Analysis Tools. The platform should be equipped with robust technical indicators to aid traders in making informed decisions.

• Risk Management Tools are another pivotal aspect. Trading inherently comes with risks, and a high-quality platform should provide instruments that allow traders to set stop-losses, take-profits, and other crucial order types. 

• For those new to the trading world, Performance and Reliability cannot be overlooked. Beginner traders especially need a platform that operates seamlessly with minimal downtimes or glitches. This ensures a smooth trading journey, allowing them to focus on market movements rather than technical hiccups.

• Finally, the Learning and Support element is essential. The best brokers will offer platforms that are not only intuitive but also come with tutorials, guides, and responsive customer support to assist traders in navigating any challenges they might face.

Tradable Assets and Instruments

• FOREX. With the largest trading volume globally, the FOREX market allows traders to speculate on the future movements of currency prices, trading pairs like EUR/USD, GBP/JPY and many more.
• CFDS. This form of trading allows you to speculate on the rising or falling prices of fast-moving global financial markets, such as shares, indices, commodities, currencies, and treasuries. You don’t own the underlying asset and you can go short or long.
• Equities or Stocks. These represent ownership in a company and constitute one of the most popular avenues for retail traders, given their potential for substantial returns and the thrill of being a part of the corporate world.
• Commodities. Whether it's precious metals like gold and silver, or energy commodities like oil and natural gas, commodities trading offers a chance to profit from the tangible assets that drive global economies.
• Indices represent another exciting opportunity. These are baskets of stocks representing a particular market or sector, like the S&P 500 or the Nasdaq, giving traders exposure to broader market movements. 
• Cryptocurrencies, the relatively new kids on the block, have garnered immense attention. Digital coins like Bitcoin, Ethereum, and countless altcoins offer both high rewards and volatility.
• Bonds are best for those interested in fixed returns. These debt securities offer periodic interest to holders and return the principal amount at maturity. 
• Options and Futures. These derivative products allow traders to hedge against potential losses or speculate on price movements without owning the underlying asset.

Can you Get Rich by Trading FOREX?

Who is Arincen and What do We Do?

Conclusion

Methodology

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.

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...