Best FOREX Trading Apps for 2023
When a trader inputs the term “trading app” into a Google 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 trading app in the mind of a trader could be the likes of common brokers IG, XTB and eToro. The second could be the actual platform, like MT4 or MT5. The third thing could be an integrated Website along the lines of Dailyfx and Benzinga that offer news, analysis plus the ability to trade on their native platforms.
In this article we will discuss the best of each of the three types. We Begin with the brokers, the most relevant to the term.
7 Best FOREX Trading apps for Beginners in 2023
After a stringent research exercise, here is our list of the Best FOREX Trading Apps for 2023:
- FXDD - Best Overall Broker.
- ICM Capital - Best Deposit and Withdrawal Broker.
- XTB - Best Customer Service Broker.
- IG - Best Regulations Broker Plus Convenient Platform.
- Saxobank - Excellent Private Trading Platform.
- CMC Markets - More than 9,000 Assets.
- Think Markets - Aimed at the Audience of Traders.
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 | $450 |
| Islamic Account | yes |
| Payment Methods | Bank transfer - credit card - Electronic Banks - Crypto |
| Main Branch | United States of America |
| Customer Service | 24/5 |
| Demo account | Yes |
| Trading Platforms | MT4 - MT5 - C TRADER -Web Platform |
Pros
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Established in 2002.
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Segregated client funds.
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Low minimum deposits.
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No commissions on the Standard Account.
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A choice of two account jurisdictions.
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Multiple platform support and comprehensive market data and analysis.
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A good range of currency pairs and other assets to trade.
Cons
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Not available to traders in the US.
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Relatively limited range of instruments.
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EU-client leverage restricted to 1:30.
ICM capital Broker
ICM Capital is considered the industry leader in deposits and withdrawals, whereby each withdrawal does not take more than five business days. Moreover, the company offers its customers a handy credit card to withdraw their profits, in addition to enabling customers to use various deposit methods. The company, which is licensed by the UK's FCA, has several branches around the world. Among other things, it has a rich portfolio of assets, especially stocks, offers a low spread, as well as the ability to use MT4.
| Broker Evaluation | 8.11 |
| Regulatory Bodies | |
| Minimum Deposit | 500$ |
| 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 |
Pros
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Segregated client funds.
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Regulated by the UK’s FCA.
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Established in 2009.
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More than 10,000 ICM Capital users and traders.
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Reasonable minimum deposit from $500.
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Decent funding options.
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No swaps.
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MetaTrader4 (MT4) desktop and mobile download.
Cons
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Does not allow scalping.
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Not ASIC-regulated.
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Relatively limited range of instruments.
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Slow live-chat service.
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Relatively high trading fees.
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Limited range of trading tools and resources
XTB Broker
What distinguishes XTB is the fact that it offers the best customer experience among all the companies we have surveyed. Indeed, it boasts the fastest response rate from all the companies under investigation. This is especially relevant, since the market is always on-the-go, and so you need to act fast. XTB offers lots of asset classes, as well as the ability to use the MT4 trading platform. Finally, it maintains a relatively low spread, which is suitable for quick deals.
| Broker Evaluation | 8.55 |
| Regulatory Bodies | |
| Minimum Deposit | 500$ |
| 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 |
Pros
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Long history of operation.
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Globally recognized, having won multiple awards.
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Some of the lowest FOREX spreads in the market.
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Regulated by the FCA (UK).
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Offers protection for client accounts.
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Emphasis on customer service.
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Excellent support, learning and research tools.
Cons
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Does not accept US clients.
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Non-FOREX spread costs are relatively high.
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No GSLO.
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No back-testing or automated trading capabilities.
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Conditions vary according to regulation and entity.
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 |
Pros
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Easy-to-navigate platform that is simple for beginners to master.
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Margin rates are easy to understand and affordable.
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Mobile and tablet platforms offer full functionality of the desktop version.
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Accepts US clients.
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Access to more than 100 currency pairs
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Emphasis on education and research.
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Regulated by the FCA (UK), as well as the CFTC and the NFA (US).
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Offers protection for UK/EU client accounts.
Cons
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US traders can currently only trade FOREX.
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No GSLO for US-based traders.
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No account protection for US clients.
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Relatively high share-CFD fees.
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No copy trading or back-testing integration on IG platform.
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 | |
| 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
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Extensive range of offerings.
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Regulated by the FCA (UK) and other top regulators.
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Great trading platform.
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Among the industry’s best research.
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Superior user interface.
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Offers protection for client accounts.
Cons
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High bond, options and futures fees.
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Lack of emphasis on customer service.
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Confusing instrument fee structures.
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High minimum deposit.
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Does not accept US clients.
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No MT4.
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Lacks live chat.
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 | |
| 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
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Extensive range of offerings.
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Regulated by the FCA (UK).
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Low FOREX fees.
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Emphasis on education and customer service.
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Great Web and mobile platforms.
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Offers protection for client accounts.
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Research amenities are industry leading.
Cons
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Does not accept US clients.
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Limited product portfolio.
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High stock CFD fees.
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High CFD spreads for certain indices.
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Differences between Next Generation and MT4.
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Complicated account verification.
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No back-testing or automated trading capabilities.
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 |
Pros
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Beginner assistance offered through 24/6 channels.
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Spreads are as low as 0.0 pips.
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24/7 expert customer service.
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CFD shares and indices come at no extra fee.
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Zero broker fees for FOREX trading.
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Technical analysis and quality market information.
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Percentage allocation management module (PAMM) and Multi-account manager (MAM) accounts available.
Cons
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Direct share trading is on a separate platform.
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No binary options offered.
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Commissions charged for two account types.
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After a strong early start, ThinkTrader user ratings have slid to 3.4 stars.
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No US, Canada or Japan clients allowed.
What is FOREX?
The FOREX market is the largest financial market in the world at some six trillion dollars daily, only followed by the credit market. The FOREX market operates 24 hours a day and five days a week (Monday through Friday), except international holidays. Brokerage firms play a key role in this regard by enabling clients to buy and sell through a trading platform. This could be done either on a personal computer (PC) or by using a smartphone.
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 can help you keep real-time tabs on the markets, global financial and business news as well as technical analysis of current and potential investments.
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.
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 is the best FOREX trading app.
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 operates 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.
Competitors that offer a similar social network model include eToro and TradingView. Beyond this, other Websites, like Investing.com and Dailyfx, offer the closest FOREX trading services model to Arincen. Other models include those employed by Forexbrokers, where rigorous testing and research is conducted to help traders around the globe find the best FOREX and CFD broker. Dailyforex departs from each of these models to offer SEO-driven content that caters questions to which most traders are seeking the answers.
Investing.com
Investing.com contains a vibrant hub of investing information that may take the newbie some time with which to become comfortable. Its interface is busy and fast-moving to the point that it could be intimidating to new 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 that 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, who 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 millions 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 is also a thriving social community for traders to interact and learn, share ideas and work together to improve their skills. It offers a unique and simple way to share live charts instantly with technical analysis ideas that brings traders together, and it is a first step to having a full trading platform in a Web browser.
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, itself 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. 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.
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 time frame, and then provide their signals.
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 time frame, 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 come to the conclusion 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 their 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.
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 their 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 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.
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. One of these services is providing users access to such world-renowned companies as FXDD and ICM Capital.
Arincen is not a brokerage firm, but rather a company providing services related to the FOREX market. One of these services is providing users access to such world-renowned companies as FXDD and ICM Capital.
FXDD
FXDD is a premier global brokerage firm, operating under licenses from several regulatory bodies from around the globe. It offers services with great efficiency and speed. FXDD has over 20 years of experience in the Arab world and holds annual conferences region-wide. Among others, it enjoys licensing from the UK’s FCA. It is also a key sponsor of global motorsports phenomenon Formula 1.
FXDD is a premier global brokerage firm, operating under licenses from several regulatory bodies from around the globe. It offers services with great efficiency and speed. FXDD has over 20 years of experience in the Arab world and holds annual conferences region-wide. Among others, it enjoys licensing from the UK’s FCA. It is also a key sponsor of global motorsports phenomenon Formula 1.
ICM Capital
Like FXDD, ICM capital enjoys FCA-licensing. The above-mentioned companies are licensed companies by the top regulatory bodies in the world. With branches internationally, as well as across the Arab world, both offer Islamic accounts, and both are among the best companies in the business in this regard.
Like FXDD, ICM capital enjoys FCA-licensing. The above-mentioned companies are licensed companies by the top regulatory bodies in the world. With branches internationally, as well as across the Arab world, both offer Islamic accounts, and both are among the best companies in the business in this regard.
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.
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, we have provided three tools:
As in any line of business, you will need tools to help you operate smoothly and, to this end, we have provided three tools:
- Risk Calculator
The risk calculator helps you determine in real time the risks involved in your deals so you can proceed with minimum exposure. - 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. - The Legal Division
In this division, we provide two main services.
The first is a tool to reveal scam FOREX brokers so you avoid them and trade with confidence. The second is our legal services department. This department provides all the services needed to protect traders from FOREX scam activities. It does this by providing advisory services, including but not confined to retrieving deposited money and filing lawsuits against shady FOREX companies.
It is noteworthy that all Arincen services are free of charge, except those of a legal nature. All profits made by use or the companies with which we deal are achieved through the spread differential of each deal.
In summary, some of the services Arincen provides include:
- A social networking platform, bringing 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.
- An academy to teach FOREX trading interactively and/or via video.
- Live trading rooms with the most important FOREX analysts in the region.
- An independent legal division.
- Qualified and licensed account managers.
Does MetaTrader 4 or 5 Support a Mobile Trading App?
Trading platforms MT4 and MT5 have officially been reinstated on Apple's App Store and are once again available for download, having previously been removed from the app store in mid-September 2023 for non-compliance relating to developer guidelines. Both MT4 and MT5 continue to be available on the Google Play store as always.
How to Open a FOREX Trading Account and Start Trading FOREX?
To open an account, you will need to submit all the relevant documentation to your chosen broker, such as national identity documents and proof of income. 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, you can start to trade.
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:
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 standardized 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.
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.
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 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.
Margin Trading
Margin trading in FOREX refers to the practice of borrowing funds from a broker to trade a larger position than a trader could with their own funds. This allows traders to take advantage of market movements and potentially generate greater profits.
In sum, the Internet is abrim with these and other FOREX-related definitions. While some are great, others are less professionally produced. In this regard, Arincen stands out as a FOREX “authority” with top-notch articles. As well, Arincen provides a suite of educational videos on all things FOREX, in English and in Arabic.
How to Choose the Best FOREX Trading App?
Regulations
Regardless of where your FOREX broker is based, you must first be satisfied that it is well-established and reliable. The best brokers are regulated by tier-1 regulators who will enforce stringent rules to ensure the safety of investor funds. Thereafter, you must assess the broker on such important aspects as how long they have successfully been in business, how well-managed they are and the strength of their platforms and service offering. Importantly, you must also research how good the broker’s app is. Other important factors include:
Commissions and Fees
A first step in FOREX trading is identifying the spread differential. While most FOREX currency pairs are traded without commission, the spread is one “cost” that applies to any trade that you place. As for commissions, FOREX trading companies can be placed in three categories. The first offers fixed spreads, while the second tenders variable spreads, with a third category of companies offering low-cost spreads but that come with a high fixed commission.
Tradable Assets and Instruments
In general, the more assets a broker offers, the better. While some brokers prefer to specialize on a small number of tradable instruments, those who have spent time developing their services to offer a truly diversified slate of instruments demand respect.
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.
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 of having to worry about problems later.
Trading Platforms, Tools and Features
The best brokers offer platforms that can be used by traders with different requirements. Be they Web-based or downloadable, platforms must be customizable with good technical indicators and strong risk-management tools. Even beginner traders will be looking for reliable platforms with good performance and a seamless trading experience.
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 penury.
Who is Arincen?
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 compressive suite of services and tools, all in one place, either via a computer or a mobile app. The platform is so rich, one can create his own private portfolio of traders and experts they 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, not less, not more. In short, Arincen: We Meet to Simplify the Trading World.
Conclusion
With ever-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 that are always trying to improve their products and the trading experience of their clients. With intuitive and immersive platforms, excellent amounts of insightful market analysis and trading signals, clients will find a home with any of the brokers we have recommended.
Regardless, it still falls to traders to conduct their own research before entrusting their capital with a broker. In this article, we showed you the most important factors you need to consider before selecting a trading app. Be sure to conduct thorough due diligence along these lines before you decide which online FOREX broker’s app to use.
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:
- Companies’ Websites.
- Other Websites that have ranked FOREX companies.
- A survey questionnaire (referred to here as Survey “1”) we had 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:
- Registering with FOREX companies as a secret shopper and/or as Arincen.
- 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 on how we came up with the evaluation, please click here.
FAQ
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.
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