Looking for the best forex trading apps in 2022? We got you covered!
Trading forex has never been easier with our list of the best apps for learning, trading and investing.
George Soros once made $1.2 billion with the single Forex trade, and if he were to do the same today, we bet he would pick the Best Forex Trading App for his trade.
The daily Foreign Exchange trading turnover jumped to $7.2 Trillion in early 2022, bigger than all of the global stock markets combined. In fact that’s enough money to circle the earth 18 times in single dollar bills. There’s millions of trading signals and opportunities daily, just pick the right trading app and hop right on the money-making train.
Here are the top forex platforms to start a trading account, master your trading strategies and find ways to make extra money.
1. Best Forex Trading App for Practice & Beginners – The Trading Game
The Trading Game is a free mobile application that gives a feeling of investing real money in real markets.
The game is perfect for new traders and experienced traders looking to hone their skills. Beginners will be surprised to learn about the many ways to make extra money with online trading. The Platform includes exciting lessons about Forex markets and numerous pro tips from experienced traders.
Just check this story from a Trading Game user who won-and-lost $24,000 before finding the game and reminding himself of essential strategies and tactics that actually work.
Many quizzes are available to test and enhance your trading knowledge. The Trading Game is the best forex app to build trading skills, gain real experience, and have fun without real risk.
Try aiming for the top of the global ranking system’s leaderboard!
2. Best Social Trading Platform – eToro
68% of investor accounts lose money when trading CFDs. However, if you understand the risks, you can take advantage of eToro’s social trading platform.
Over 500 million trades have been opened at eToro, and the number is growing by the day. eToro is a social trading platform that allows users to mimic the actual trades of top-performing traders.
eToro is perfect for people looking to learn from the professionals, study their market movements, socialize with them, and copy whatever trades they are making, for as little as $50.
This gives users the time to focus on what matters. Building their trading networks, and learning by doing, in a simple, hassle-free environment on one of the simplest to use platforms!
eToro is not famous for no reason.
For people exploring the world of trading, the platform provides detailed analysis and statistics. Making your first investment has never been easier than on eToro.
3. The place Where Forex Beginners Learn the Basics – Go Forex
Are you just getting started in the Forex game and plan to invest your savings to make extra money? Then look no further. Here’s the best foreign currency guide for new learners.
Go Forex helps new traders understand what’s going on behind their trades. With Go Forex, picking up tricks of the trade and mastering the fundamentals has never been easier. You can learn and test your knowledge with Quizzes after each lesson. The platform enables users to understand and master each topic thoroughly.
Find the best insights and collect Wall-Street trading experience with Go Forex!
4. Excellent for Financial News and Updates – Bloomberg
The only difference between billionaire traders and a bankrupt trainwrecks is the access to the right information.
Bloomberg News provides the best financial news on the internet.
You can’t trade without being informed about the latest global developments. Always research your trades and follow the news, even if you have the best currency trading app on hand. Always!
With Bloomberg, receive financial information and keep tabs on the financial instruments you are interested in. Moreover, this app also provides a platform for you to monitor your portfolio and receive alerts on your positions. Bloomberg’s purpose is to help you make the best trading decisions and improve your financial perspective.
If you want to keep your portfolio on track, Bloomberg is a tremendous tool for that!
Robinhood is everybody’s darling when it comes to the retail trading world.
The fintech company is on a mission to provide its users with easy access to the financial markets. The banking app offers a straightforward path to buy stocks, ETFs, options, and even Crypto through its Crypto platform. Just like buying stocks and crypto on Etoro, every trade here is commission FREE, which leaves more money in your wallet for you to invest.
Webull is a registered broker-dealer and is a relatively new entity in the hyper-competitive world of retail investing. They offer a professional-level trading platform, and customers can utilize real-time market data and analytical indicators to make informed trading decisions. Additionally, trading commissions are non-existent, and you can trade entirely free.
Revolut burst onto the scene as a challenger bank offering a new way to do banking in the UK. Revolut works differently from other trading apps.
To trade, you’ll need to sign up for one of their memberships. The Standard account is free and will allow three commission-free stock trades per month. The Premium account costs $9.99 per month and allows eight open-stock transactions per month. Finally, the Metal account costs $14.99 per month but offers unlimited commission-free stock trades. Start trading on the dot, and do not miss out on any golden opportunities that might present itself to you! Plan your trading schedule and start hunting for those profit-making opportunities!
The Ultimate Starter Pack: Which Forex Trading App is the Best?
Everyone is looking for ways to make extra money.
Most people won’t make it. However, the difference between you and losers is that you’re at the right place to find the best forex trading advice!
Top 3 absolute-must-have forex trading apps for beginners:
- The Trading Game: Best App for Beginners and Practice.
- eToro: Social trading platform to find & copy Forex winners.
- Bloomberg Financial News: You can’t trade without the latest news.
If you’re looking for ways to make more money, then Forex is the real deal. Check our video about the best Forex trading apps:
Remember: don’t rush! Take your time with The Trading Game and get a feel for the foreign currency markets. After you’ve built confidence in your trading skills, only then join one of the Forex brokers and start investing real money.
How to Begin Trading in Forex
It’s becoming a lot easier to trade on the go, thanks to all of the opportunities allowing people to experience real-time trading using the best mobile applications and trading accounts on their smartphones.
Most forex traders have increasingly adopted smartphones as their favourite medium due to their accessibility, and with the majority of mobile applications already providing full features, there’s no excuse why a novice wouldn’t want to try trading on the go as well.
These currency and forex trading applications make it simple for everyone to get started!
What’s important to note is that selecting the best forex trading app will have a significant impact on your trading performance. If you have an iOS or Android smartphone and need an account to exercise your recently learned trading skills, the majority of applications can meet your needs.
Though most of these forex trading applications are available for free on most platforms today, look for key features and capabilities that suit you when selecting a forex trading app.When approaching a modern and potentially risky industry, it’s advantageous to be as well-informed as possible.
What characteristics distinguish a successful Forex trading app?
If you’re interested in learning how to trade and setting a goal to become a seasoned, competent, and high-frequency trader, make sure your smartphone trading app has one or more of the following benefits:
#1 The forex trading app keeps you up to date
Since real-time and up-to-date information is critical in trading, the forex trading app should provide it. This is because the value of a currency will change in a matter of seconds, necessitating quick decisions.
#2 The platform has smaller spreads.
The spread is the amount of commission the forex broker charges you, and it should be kept as low as you can get it. When you start increasing the trading volume, this will start to make sense.
#3 There are learning and educational tools available in the app.
The world of forex trading is not easy to learn. The best forex trading applications have all of the details needed to become a good forex trader. Current affairs on the world stage, as well as the technical aspect of the trade, should be included.
Frequently Asked Questions
What is the best app to trade forex?
The best app to trade forex is the one that fits your own unique needs and strategy. For those wanting to get started quickly and easily with a small capital investment, you should choose one that suits your skill level of trading and investing.
Can you get rich by trading forex?
Yes, you can. But it’s not easy and it’s not for everyone. You have to be willing to learn a new skill set. If you can do that and have the patience and discipline to put in the required work, then yes, you can become successful at forex trading.
Can you do forex on your phone?
Not just forex, you can trade all assets on your mobile phone. The best forex trading applications are available to download to your smartphone.
How do you trade forex for beginners?
Trading Forex for beginners can be an exciting endeavour. Trading Forex is fundamentally different from trading stocks or other types of financial instruments as you are not dealing with a single entity or asset like you are in stock or bond trading. To trade forex effectively, traders must carefully monitor the market, make educated decisions and keep emotions out of their trading plan. Luckily there are great communities and courses available to learn how to successfully trade and invest with forex.