75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. We may receive compensation when you click on links to products we review. Please read our advertising disclosure. By using this website you agree to our Terms of Service.

AuthorBy Chris Cammack
Updated: December 9, 2022

Having a reliable Forex trading app is important for every type of Forex trader. Whether you’re a beginner with a day job or a professional with multiple trades in play at any given time, being able to check market news and adjust trades on your phone is an essential part of your trading day. We have catered to various priorities and experience levels to make this list of the best Forex trading apps. Interested in demo trading on your phone? Or maybe you are looking for an app with the best trading tools? You will find an app on this list that suits your needs.

Trader safety is our first priority, so we first verified that all of these trading apps are safe to use and free to download; we then made sure that they allow traders to open and close trades from a mobile device. While trading on the mobile apps, we tested the app’s stability and execution speed. We also compared trading costs and checked how easy it was to deposit and withdraw money from our trading account.

According to our testing and our research, these are the best Forex trading apps in India for 2023.

These are best Forex trading apps for 2023

Best Forex Trading Apps 2023

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Broker
Overall Rating
Official Site
Min. Deposit
Regulators
Mobile App
Apple Score
Google Score
Analytical Tools
Forex Calendar
Forex Analysis News Feed
Watch List
Alerts
Cross Device Syncing
Charting - Draw Trendlines
Charting - Drawings Autosave
Charting - Indicators / Studies
Charting - Multiple Time Frames
Charting - Trendlines Moveable
Compare
AvaTrade
4.38 /5
Read Review
Visit Broker >
Your capital is at risk
USD 100
ASIC
FSCA
B.V.I FSC
FSA-Japan
CBI
FRSA
AvatradeGo
11110.54.3/ 5
11110.54.2/ 5
XM
4.35 /5
Read Review
Visit Broker >
Your capital is at risk
USD 5
CySEC
ASIC
FCA
IFSC
XM App
1110.503.0/ 5
1110.503.7/ 5
HFM (HotForex)
4.43 /5
Read Review
Visit Broker >
Your capital is at risk
USD 5
CySEC
FCA
FSCA
DFSA
FSC
FSA-Seychelles
HF App
1110.503.8/ 5
11110.54.0/ 5
BDSwiss
4.32 /5
Read Review
Visit Broker >
Your capital is at risk
USD 10
FSC
FSA-Seychelles
BD Swiss App
11110.54.0/ 5
110.5002.8/ 5
FBS
4.23 /5
Read Review
Visit Broker >
Your capital is at risk
USD 1
CySEC
ASIC
FSCA
IFSC
FBS Trader
11110.54.8/ 5
11110.54.5/ 5
MarketsX
4.58 /5
Read Review
Visit Broker >
Your capital is at risk
USD 100
FCA
CySEC
ASIC
FSCA
B.V.I FSC
Markets.com
11110.54.2/ 5
11110.54.4/ 5
Pepperstone
4.61 /5
Read Review
Visit Broker >
Your capital is at risk
USD 0
FCA
ASIC
CySEC
DFSA
BaFin
SCB
CMA
MT5 App
1110.503.9/ 5
11110.54.4/ 5
Skilling
4.07 /5
Read Review
Visit Broker >
Your capital is at risk
EUR 100
CySEC
FSA-Seychelles
MT4 App
111110.55.0/ 5
1110.503.9/ 5
XTB
4.29 /5
Read Review
Visit Broker >
Your capital is at risk
USD 0
CySEC
FCA
DFSA
IFSC
KNF
xStation App
11110.54.7/ 5
11110.54.6/ 5

How to Choose a Forex Trading App

Forex trading apps are all different, but the best apps will have fast trade execution speeds, comprehensive functionality, platform stability and the full range of assets to trade.

Fast Execution Speed: Fast execution speed is an essential feature of the best Forex apps. While execution speed still partially depends on the mobile device’s connection to the internet, the app itself mustn’t suffer any loss in execution speed when compared to the desktop version of the platform.

Full Functionality: Trading apps should match their desktop versions’ functionality and feel familiar to the desktop platform users. While charts on a mobile device will be less customizable than on a desktop, there should be some of the more popular custom indicators and common timeframes functions found on the desktop version.

Platform Stability: A stable iOS or Android trading app is an absolute necessity. Should your app crash while trades are open, you risk losing capital should the markets are move against your position. Platform stability is an absolute necessity and should never be compromised.


AvaTrade – Best Forex Trading App

AvaTrade’s flagship mobile app is called AvaTradeGo and was voted the Best Forex Trading App in 2020 at the Global Forex Awards. AvaTradeGo provides a stable trading experience with an advanced dashboard, with intuitive management tools, clear charts, zoom for details, and a Market Trends feature to monitor trading trends within the AvaTrade community. AvaTrade’s fees are some of the lowest for an account with a 100 USD minimum deposit – as low as 0.9 pips on the EUR/USD.

AVATRADEGO FEATURES

  • Choose from over 1,000 instruments to trade, including Forex pairs, Commodities, Stocks, Cryptocurrencies and more
  • AvaProtect loss protection: Any losses are fully refunded, but any gains are the traders to keep
  • Market Trends: Monitor social trends, see what other traders buy and sell, and stay on top of your trades
Pros
  • Good for beginners
  • Well regulated
  • Low minimum deposit
Cons
  • Dealing desk
  • Limited market analysis
AlertAccepts Indian Clients. Average spread EUR/USD 0.90 pips on trading account with lowest minimum deposit. Max leverage 400:1. Islamic account available. MT4 & MT5 platforms supported. AvaTrade Group regulated by ASIC, FSCA, B.V.I FSC & FSA.

XM – Fastest Execution Speed

XM is a well-regulated broker supporting MT4 and MT5 native XM apps with three account types: A Micro Account, Standard Account and a commission-based XM Zero Account with super-tight spreads. Each account offers tight spreads, with the EUR/USD starting at 1.6 pips on the Micro and Standard Account. The XM Zero Account has spreads down to 0.1 pips with a commission of 7 USD round trip. For beginners, education and research are some of the best globally.

XM APP FEATURES

  • Both MT4 and MT5 trading platforms are available as apps
  • Trade on Forex, stock CFDs, commodities, equities, precious metals, energies, and shares
  • 99% of trades are executed in less than a second with a 100% execution rate. No re-requotes or rejections of orders.
Pros
  • Well regulated
  • Excellent education
  • Free deposits and withdrawals
Cons
  • Dealing desk
  • Wide spreads on its entry-level accounts
AlertAccepts Indian Clients. Average spread EUR/USD 0.70 pips on trading account with lowest minimum deposit. Max leverage 888:1. Islamic account available. MT4 & MT5 platforms supported. XM Group regulated by CySEC, ASIC, and the IFSC.

HFM (formerly known as HotForex) – Best App for Forex Analysis

HFM offers trading on Forex, cryptocurrencies, commodities, indices, shares, bonds, and ETFs. The new HFM HF App features include in-app fund transfers, advanced charting, and access to HFM’s copy-trading account (HFcopy).  Other features include a live rate stream for CFDs on forex, commodities, stocks and indices, a market news stream and the latest analysis published by the HFM research team.

HF APP FEATURES

  • Micro Account: with a 5 USD minimum deposit, fast market execution and spreads starting at 1 pip.
  • Analytical tools: Daily Market Analysis from experts, a market sentiment tool, and Trader’s Board – a detailed look at the world’s markets with volume indicators and live charts.
  • Trading calculators, an economic calendar, and information on upcoming live webinars with reservation functionality.
  • A dedicated section for copy-trading: Monitor the status of investments, allocate funds and manage your portfolio.
Pros
  • Low minimum deposit
  • Tight spreads
  • Well regulated
  • Good range of accounts
Cons
  • Limited base currencies
AlertAccepts Indian Clients. Average spread EUR/USD 1.00 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. HF Markets Group regulated by the FSCA, FCA, FSC, CySEC and the DFSA.

BDSwiss – Best App for Trading Crypto

Founded in 2012, BDSwiss offers trading on multiple instruments, including Forex, commodities, shares, indices, and over 27 cryptocurrencies, BDSwiss offers a comprehensive mobile trading environment from their iOS and Android apps. Winner of the Best Trading App at the 2019 Mobile Star Awards, the BDSwiss Mobile App allows access to 1000+ instruments and fully synchronises with the BDSwiss WebTrader and BDSwiss MT4 Platform. BDSwiss offers account types for both beginners and more experienced traders, including a Raw Account with spreads down to 0 pips.

BDSWISS MOBILE APP FEATURES

  • No need for desktop registration; open, fund and verify your trading account within minutes
  • 24/7 access to a wide range of crypto assets, including Bitcoin, Dash and Ethereum pairs.
  • Open positions on every CFD asset available on the desktop MT4 platform, monitor market activity and access the account dashboard
  • Free deposits and withdrawals via 150+ methods.
  • Industry-leading market analysis and education available from within the app
Pros
  • Tight spreads
  • Good for beginners
  • Wide range of assets
Cons
  • Expensive withdrawals
AlertAccepts Indian Clients. Average spread EUR/USD 1.50 pips on trading account with lowest minimum deposit. Max leverage 400:1. Islamic account available. MT4 & MT5 platforms supported. BDSwiss is regulated by CySEC, FSC, and the FSA-Seychelles.

FBS – Highest Leverage Mobile Trading

FBS Trader app: FBS is a hybrid STP/ECN broker offering trading on Forex, commodities, cryptocurrencies, metals, and equities on the MT4 and MT5 trading platforms and the FBS Trader app. The new FBS Trader app offers an all-in-one multi-asset trading platform for online trading anywhere.  Regulated internationally, with five different live accounts for all levels of traders, and a minimum deposit of 1 USD on its smallest account, clients have access leverage of up to 3000:1 on most accounts.

FBS TRADER FEATURES

  • More than 100 global and local payment methods. Deposit and withdraw at any time, 24/7
  • 20% Cashback for every order on trading Forex, stocks, and other assets
  • 24/7 chat support and demo trading from inside the app
  • Trade over 35 crypto pairs and crypto crosses 24/7
Pros
  • Tight spreads
  • Low minimum deposit
  • Excellent education
  • Excellent market analysis
Cons
  • Limited range of assets
  • Extreme leverage
AlertAccepts Indian Clients. Spreads start at 0.80 pips on the EUR/USD on the trading account with lowest minimum deposit. Max leverage 3000:1. Islamic account available. MT4 & MT5 platforms supported. FBS is regulated by ASIC, CySEC, the FSCA, and the IFSC.

Markets.com – Most Instruments to Trade

Founded in 2010, Markets.com’s offers trading on over 2,200 financial instruments including stocks, Forex, commodities, indices, cryptocurrencies, ETFs, and bonds. Markets.com mobile trading app, called Marketsx, offers fast, low-cost trading on over 2,200 financial instruments. The app has been natively designed for both iOS and Android, providing a smooth and stable trading experience.

MARKETSX FEATURES

  • Low trading costs, with spreads starting at 0.6 pips on the EUR/USD and no commission.
  • Over 2000 global shares, 67 currency pairs, 41 global indices, 27 commodities (including everything from gold and copper to wheat, cotton, and heating oil), 60 ETFs, 7 cryptocurrencies, and 4 government bonds.
  • 23 of Marketsx exclusive Blends CFDs. Blends are stock baskets of industry-leading companies.
  • Built-in advanced charting – trendlines, channels, pitchforks, Fibonacci Retracements, and more.
  • A range of tools that use data from leading analysts, hedge funds, and commentators. Each tool has integrated buy and sell buttons.
Pros
  • Well regulated
  • Tight spreads
  • Wide range of assets
  • Fast and free withdrawals
Cons
  • High minimum deposit
AlertAccepts Indian Clients. Average spread EUR/USD 0.70 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. MarketsX is regulated by CySEC, ASIC, and the FSCA.

Pepperstone – Best App Trading Platforms

Pepperstone is an Australian ECN broker known for tight spreads, ultra-fast trade execution, full support for all major platforms; MT4, MT5 and cTrader – and downloadable apps for iOS and Android for all three. The mobile versions of all platforms are freely available and natively designed for Android and iOS on tablets and mobile phones.

Most trades on Pepperstone have execution in less than 30ms, which is ideal for scalpers and clients who run expert advisors. Pepperstone offers two market execution accounts with some of the tightest spreads in the industry – the Razor Account has spreads down to 0 pips for the EUR/USD and a 7 USD commission. Spreads on the mobile applications are identical to their desktop counterparts. 

Pros
  • Well regulated
  • Tight spreads
  • Great platform choice
  • Wide range of assets
Cons
  • Limited market analysis
AlertAccepts Indian Clients. Average spread EUR/USD 0.60 pips with 0.0 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & cTrader platforms supported. Pepperstone Group is regulated by the FCA, ASIC, and the DFSA.

Skilling – Best Trading App for Beginners

Available on both Android and iOS devices, the Skilling Trader app is well-designed. Beginners will find that it is easy to use and includes a Trading Assistant that walks you through the app. The app allows traders to easily transfer, withdraw and deposit funds, search for instruments, and create watchlists.  It also has a huge range of technical indicators and charts in multiple time frames. We also enjoyed how easy it was to execute orders, and all of Skilling’s educational materials and market news are available on the app.

SKILLING TRADER FEATURES

  • Spreads start at 0.8 pips with no commission
  • 100 EUR minimum deposit, Maximum leverage of 500:1
  • One Account. Two Platforms: Seamless integration between Skilling Trader and cTrader,
  • The choice of two platforms from a single trading account with the same margin, same wallet, and same trading conditions.
Pros
  • Copy trading accounts
  • Tight spreads
  • Great platform choice
Cons
  • No swap-free account option
  • Limited education
AlertAccepts Indian Clients. Average spread EUR/USD 0.80 pips on the trading account with lowest minimum deposit. Max leverage 500:1. MT4, Skilling, and cTrader platforms supported. Skilling is regulated by CySEC, the FCA, and the FSA-Seychelles.

XTB – Best Regulated Forex Broker

Founded in 2002 in Poland, XTB offers trading on over 1500 financial assets including Forex, indices, commodities, stock CFDs, ETF CFDs, and cryptocurrencies. XTB has successfully incorporated many of its desktop xStation trading platform’s features into the xStation mobile app. With a smooth and intuitive design, the transparent charts (also available horizontally) allow clients to track market movements accurately. XTB has relatively low fees compared to many brokers, with no minimum deposit requirement and spreads averaging 0.9 pips (EUR/USD).

XSTATION APP FEATURES

  • Access XTB’s award-winning market analysis and market sentiment from inside the app
  • Control your take-profit and stop-loss directly on the chart or through the integrated trading calculator
  • Filter instrument classes and set favourites with the market analysis dashboard.
  • Fully customisable layout. Traders can also choose between light and dark mode, saving battery and keeping clarity.
Pros
  • Well regulated
  • Tight spreads
  • Low minimum deposit
  • Good for beginners
Cons
  • Limited platform choice
AlertAccepts Indian Clients. Average spread EUR/USD 0.70 pips on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & xStation platforms supported. XTB Group is regulated by CySEC, FCA and the IFSC

What is the best Forex trading App?

AvaTrade’s  flagship mobile app is called AvaTradeGo and was voted the Best Forex Trading App in 2020 at the Global Forex Awards. AvaTradeGo provides a smooth trading experience with a sophisticated dashboard, complete with a set of intuitive management tools, clear charts, zoom for details, and many more helpful features unique to this app.

What are the advantages of Forex Trading Apps?

Better trading apps enhance the convenience of mobility and quick response time they provide for traders.

Convenience

Before smartphone trading apps, Forex traders had to close all their positions when they left their desk and accessing Forex news and data was difficult. With a trading app, you can keep trading when you leave your desk

But now all aspects of Forex trading can be achieved via a trading app. Most apps will allow you to open and close positions, use advanced charting to analyse the market and keep abreast of breaking news and economic data that affect the markets.

Mobility

Forex trading apps are convenient, and let traders can monitor open positions when away from their desk. Whether you are commuting to work on a train, or walking down the street to go shopping, you can keep track of your positions and the market movements.

mobile-trading-3

Response Time

Trading apps also allow you to respond to market movements in an instant. Rather than having to wait until you are at your PC to take advantage of price movements, you can open or close an order immediately with the tap of your screen.

What are the disadvantages of Forex Trading Apps?

Small screens, distractions while you are on the move, slow execution speed and the potential for overtrading are all disadvantages of mobile trading that you should be aware of.

Screen size

Professional traders use two monitors with multiple charts and often hold numerous open trades. You cannot do this on a small mobile screen without the risk of missing important details. Mobile traders should try to limit the number of open trades and be aware of the charting limitations on their trading app

Distractions 

Mobile devices are designed to be with you when you are doing other things, but trading while you are doing other tasks is not encouraged.

If you are trading on a mobile device, make sure that you have taken the time and space to judge your trading decisions before following through.

Man on phone on street

Execution Speed

While execution speeds on mobile trading apps are generally good, you should not use them for scalping. Mobile networks are getting faster all the time, but there will always be a delay relative to a desktop trading environment.

Overtrading

Often, the best move when trading is to do nothing – especially when you are on the move and without access to the tools and charts you have at your desk. With the convenience of a mobile trading app, there is the danger that you will be tempted to trade too often, and in ways that you would not normally do when at your desk.

Final Word

Forex trading apps are a useful addition to a trader’s toolbox but should never be used as a replacement for a desktop platform. While their convenience is undeniable, there is just too much space for distraction and overtrading while on a mobile device.

The best Forex trading apps can achieve some of the aspects of the best trading platforms but will never be able to match a desktop platform for analysis and execution speed.

Forex Risk Disclaimer

Trading Forex and CFDs is not suitable for all investors as it carries a high degree of risk to your capital: 75-90% of retail investors lose money trading these products. 

Forex and CFD transactions involve high risk due to the following factors: Over-leveraging, unpredictable market volatility, slippage arising from a lack of liquidity, inadequate trading knowledge or experience, and a lack of regulatory protection for clients.

Traders should not deposit any money that is not disposable. Regardless of how much research you have done, or how confident you are in your trade, there is always a substantial risk of loss. (Learn more from the FCA or from ASIC)

Our Methodology

Our State of the Market Report and Broker Directory are the result of extensive research on over 100 Forex brokers. The explicit goal of these resources is to help traders find the best Forex brokers – and steer them away from the worst ones – with the benefit of accurate and up-to-date information.

With over 150 data points on each broker and over 3000 hours of research and review writing, we believe we have succeeded in our goal. 

In a world where trading conditions and customer support can vary based on where you live, our broker reviews focus on the local trader and give you information about these brokers from your perspective.

All research has been conducted by our in-house team of researchers and writers, gathering information from various company representatives, websites and by sifting through the fine print. Learn more about how we rank brokers

References

Here are the resources that were used to research and write this article.

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