Not every forex trading platform has compatible software for macs. The compare forex brokers team looks at the best forex brokers and platforms with trading solutions for mac traders.
See our list of the best forex trading platforms for mac and recommended broker to use the platforms below:
Updated: 10/06/2021
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These are the best trading platforms you can use on a Mac:
Founded by MetaQuotes Software in 2005, the MetaTrader 4 (MT4) is one of the best forex trading platforms in the industry. Forex traders around the world continue to favour the MT4 trading platform due to its easy-to-use interface. With over 45% market share, the MetaTrader 4 has a monopoly becoming “the de facto standard in Forex trading.”
Based on the data sourced by Finance Magnates Intelligence Report, Pepperstone and IC Markets are the biggest MT4 forex brokers by daily turnover.
The MT4 trading software is equipped with the latest technology to enjoy seamless forex trading conditions. The MT4 is also considered as the best trading platform for Android. Alongside the forex charting capabilities offered by MetaTrader 4, the platform also supports advanced trading tools including:
Mac users need to be aware that the MT4 trading platform is not compatible with Apple’s latest operating system macOS Catalina and above. MT4 will only work on operating systems with 32-bit processing or lower. The MT4 terminal can be installed on Mac operating systems that run on macOS 10.14 Mojave or lower versions.
If you wish to install the MT4 platform on Mac OS, you need to use the free software PlayOnMac. Follow this step-by-step guide for a smooth installation of MetaTrader 4 on Mac OS: How to Install MT4 Terminal on Mac OS.
Multi-regulated (ASIC, FCA, CySEC, BaFin, CMA, DFSA, FSB) forex broker Pepperstone has the best MAC application of the MT4 platform based on:
Pepperstone offers true raw ECN spreads from 0.0 pips on its commission-based account (Razor Account). This brokerage trading firm based in Australia streams its FX prices from multiple liquidity providers without artificially inflating the spread. Based on our professional assessment, Pepperstone’s average spread on the major currency pairs is 31% cheaper than IC Markets spreads and 56% cheaper when compared to FP Markets.
Data taken from broker website. Accurate as at 04/06/2021
Compare MT4 Brokers >>
Additionally, to low spread forex trading, Pepperstone also offers competitive commissions that start from USD 3.76 per 100,000 units traded (USD 7.53 round turn commission to open and close an FX trade).
Note* High-volume traders can access lower commission rates via the “Active Trader Program” which will reward you daily cash rebates.
With Razor Account, spreads start at 0.0 pips on the MetaTrader 4 platform.
With Pepperstone, foreign exchange traders can gain access to 61 FX pairs including the world’s most popular currency pairs, minors, crosses and exotics. Pepperstone clients can trade forex using Contracts for Difference (CFD) instruments with:
61 FX Pairs using CFD products directly from the MetaTrader 4 Platform.
Our team of experts tested all MT4 applications on Mac products and recommends Pepperstone for all Apple users. With low spreads, a good range of FX pairs, an excellent reputation and fee-free funding methods, Pepperstone is the best MT4 broker. Additionally, fx traders can download MT4 for all Apple products (iPad, iPhone, or MacBook) including web trader via Pepperstone web app.
View Pepperstone Review >>Visit Pepperstone >>
The MetaTrader 5 (MT5) trading platform is the next generation software developed by MetaQuotes Software Corp. The MT5 platform is upgraded trading software of the MT4 platform designed to allow share CFD trading and become that standard multi-asset FX platform. According to Google Trends data, the MT5 platform has started to gain in popularity over the past 12 months, while interest for MT4 has begun to fade.
MetaTrader 5 advanced technology allows traders to access more instruments, implement complex trading strategies, access more advanced tools and allows faster connectivity to the market. The benefits of the MetaTrader 5 trading platform include:
The main drawback to the MetaTrader 5 platform is that the software mimics the same interface as the flagship MT4 platform. While the MetaTrader 5 has seen an increase in usage, market adoption is still moving at a slower pace however this will accelerate now that MetaQuotes has ceased development of MetaTrader 4.
If you want to install the MT5 terminal on Mac OS, you need to use the free software PlayOnMac. Follow this step-by-step guide for a smooth installation of MetaTrader 5 on Mac OS: How to Install MT5 Terminal on Mac OS.
IC Markets is the best MetaTrader 5 forex broker based on:
At IC Markets, you can start trading on 7 different financial markets with low spreads, competitive commission rates, access the world’s most popular stocks and enjoy going both long and short on 10 of the most traded cryptocurrencies.
Through IC Markets offerings, active traders can speculate on the stock market via CFDs on over 120 companies listed on the NYSE, NASDAQ or ASX. Stock CFDs are exclusively offered via IC Markets MetaTrader 5 platform. IC Markets stock CFDs allow traders to even earn dividends on the shares owned.
Access the most popular & liquid markets across the world 24/7
IC Markets clients can trade on the go via MetaTrader 5 for iPhone/iPad. You can stay connected to your favourite financial instruments everywhere you go, anytime you like. The minimum system requirement to unlock MT5 on your mobile phone is iPhone iOS 7.0 or later (compatible with iPhone, iPad and iPod touch).
IC Markets MT5 terminal integrates many of the advance features that come with your iPhone like the landscape-to-portrait view changer. The MT5 mobile apps are equipped with the same advanced tools as the desktop version (one-click trading, complex trade orders, real-time charts and quotes, integrated indicators, etc.).
Mobile Trading with Raw Pricing + Fast order execution + Deep liquidity
Our team of experts hand-picked IC Markets as the best MetaTrader 5 broker for Mac users. The broker is a leading financial services provider in several areas including the lowest forex and CFD spreads, 40ms order execution speed, deep liquidity and a minimum deposit of USD 200. Click the button below if you want to trade with a tier-one regulated broker (ASIC + CySEC).
cTrader by Spotware Systems Ltd. is one of the best multi-asset trading platforms that are suitable for ECN brokers. FxPro was the first big name to offer the flagship trading platform developed by Spotware back in 2011. Since then, the cTrader platform is offered by several trustworthy ECN brokers, including Pepperstone and IC Markets.
The cTrader platform is designed to support advanced trade management functions along with advanced charting capabilities. The developers have made a great job to ensure the ease of user interface. The learning curve with the cTrader platform should be smooth. By comparison with the MetaTrader software, the cTrader platform is equipped with a full range of trading tools suitable for beginners and professional traders alike.
cTrader charting features include:
cTrader trading features include:
There are no big drawbacks to the cTrader platform. Technically, cTrader is a versatile platform, well-designed, but it’s not native for Mac users. If you wish to use cTrader on your Macintosh operating system, then you will need to run it via a web trader. We highly recommend Mac users to try out FxPro cTrader Web Platform (available for iOs and Android).
FxPro is the best cTrader broker for scalping based on:
According to third-party services providers Creditsafe and DueDil, FxPro has one of the biggest credit score across UK foreign exchange brokers. Using a proprietary algorithm to determine the creditworthiness of a business, on a scale from 0 to 100, FxPro has a 95 credit score. By comparison, Plus500 has a credit score of 77 while Forex.com only enjoys a 67 credit score.
Note* Creditsafe is the world’s largest provider of global business intelligence on more than 365 million businesses worldwide.
“A high score indicates a lower risk of default or bankruptcy.”
At FxPro, clients can trade forex with no dealing desk intervention. A trading account with FxPro gives you access to:
The above-mentioned advantages make FxPro cTrader trading platform the number one choice for scalping. FxPro execution engine can also boost superior trading conditions that can come in the form of:
Note* The statistics are compiled using trade history from 1st June 2019 through 31st June 2019.
FxPro Awards = Best FX Execution Global, 2016, 2017 + Best Execution Broker Global, 2017
For active traders (scalping and day trading), FxPro is the best cTrader broker. The broker is well-suited for UK traders with Financial Conduct Authority (FCA) regulation and South African traders with FSCA regulation. Additionally, the FxPro retail investor accounts only require a minimum deposit of USD 100. FxPro cTrader Web runs on Apple computers and there are also mobile apps for iOS devices (you can download cTrader Mobile 3.12 Beta from App Store).
View FxPro Review >>Visit FxPro >>
eToro’s OpenBook platform is the world’s most popular social trading platform. The OpenBook platform brings into one place the CopyTrader feature along with eToro’s CFD trading platform. Used by more than 10 million eToro users, the social trading platform allows copy trading and connecting with thousands of traders via the eToro trading community.
The OpenBook platform is not simply a social trading network, but it also gives you access to trading CFDs. The combination of copy trading and CFD trading is one of the most powerful features of the platform. The most popular feature is the CopyTrader technology, which enables to automatically copy in real-time top-performing traders. The most popular CopyTrader advantages include:
On the other hand, the most unique feature of trading CFDs is the possibility to have direct ownership of the underlying instrument you’re buying. The only two asset classes supported for direct ownership are stocks and cryptocurrencies.
For starter, the main drawback of the OpenBook platform is the fact that there is no desktop version for Windows or Mac OS. eToro OpenBook is only supported as a web trader version and on mobile trading for iPhone iOS and Android. Secondly, the platform is not equipped with advanced charting tools as specialist CFD platforms.
eToro is the best social trading platform based on 5 factors:
At eToro, clients can access a plethora of CFD instruments from across 6 asset classes with low and transparent fees. Among other features, eToro users can use leverage and go both long and short across various classes including:
eToro’s aims to open up markets to everyone
eToro offers a unique opportunity for portfolio managers and professional traders to earn additional income by allowing other traders to copy their trades. Anyone can join the program and be able to earn up to 2% of the assets under management (AUM). The investor program is designed to award traders based on total assets that follow your strategy rather than based on your performance. For example, if the total assets that follow your strategy are USD 1 million, you can earn up to USD 20,000 a year.
All payments to Popular Investors are credited as real, immediately withdrawable funds.
Based on our independent review, the best social trading platform for Mac traders is eToro CopyTrader. It’s safe to trade with eToro as it follows the guidelines imposed by the world’s most respected regulatory bodies. For example, EU clients can trade through an entity regulated by CySEC (Cyprus Securities & Exchange Commission) while traders from other continents can trade with the ASIC-regulated entity (for Aussie traders).
Note: UK traders or any trader with eToro UK will not be able to trade cryptocurrency. This is because FCA regulations prevent brokers from offering this product.
The Plus500 platform is a reliable web-based trading platform that gives traders access to CFD trading. This is a proprietary trading platform in-house built by the Plus500’s team of experts. MAC users can trade online via the web trader and through the mobile apps available for iPhone and iPad.
Plus500 trading platform comes with a user-friendly interface and a secure trading environment. The Plus500 interface is the best feature of the platform as it helps traders to easily navigate across +2,000 financial markets spread on 7 different asset classes. Additionally, all the necessary tools from charting, trade management, instrument navigation and Watchlist can be operated from a single-window without switching screens. Other Plus500 platform features include:
The Plus500 platform comes with several drawbacks that limit its functionality. For starter, the web trader platform is not compatible with automated trading, third-party plugins are not supported and it lacks the basic trading tools for charting analysis.
Plus500 is the best CFD platform with risk management tools based on:
Plus500 offers guaranteed stop loss (GSL) which can help traders guard against adverse price movements. If we believe there is a risk of extreme price moves in the market than a GSL can help protect our position from being hit by a severe slippage.
Note: Please be aware that Plus500 will charge its clients an extra spread for the privilege of using the guaranteed stop loss.
Basically, the GSL order acts as a form of insurance against extreme market volatility. Plus500 is very transparent and will display the additional spread before you submit the trade. Once the trade is triggered the GSL spread is non-refundable. However, the main drawback is that the GSL order is only available for a few selected instruments and can’t be attached to open trades.
Extra spread applies + Limits on your risk + Know in advance your maximum possible loss.
The risk management tools offered by Plus500 give traders reassurance of absolute control over their trade management. Plus500 is considered safe to trade because it’s a UK FTSE 250 company regulated in the UK by the FCA, in Cyprus by the CySEC and in Australia by the ASIC. When you deposit money with Plus500 your funds are held in segregated bank accounts.
Note: traders in the UK or traders with Plus500UK are not able to trade cryptocurrency. FCA policies prevent brokers with this regulation from offering this product.
View Plus500 Review >>Visit Plus500 >>
*Your capital is at risk ‘76.4% of retail CFD accounts lose money’
ThinkOrSwim by TD Ameritrade is one of the most popular US-based trading platforms. ThinkOrSwim cutting edge trading technology has a professional interface designed for serious stock, futures, options and forex traders. The multi-award-winning platform TOS is available for Mac users running OS X 10.7.3 or later, including Mac Catalina.
The main strength of ThinkOrSwim is its robust trading tools for active traders, including real-time quotes, technical indicators and studies, backtesting functionality, highly customizable interface, advanced charting solution, integrated news and so much more.
The ThinkOrSwim desktop platform offers a high degree of customizability that can be arranged based on your own trading needs and specification. The level of customization covers everything from the layout design, trading tools used on each window all the way to change the background colours. You can save your ThinkOrSwim templates in the cloud so that you can use them on all your devices.
Note: ThinkOrSwim is also a native build to work on iOS mobile apps for Apple users.
While ThinkOrSwim offers industry-leading capabilities, this can also be a drawback, especially for novice traders. The platform has a steep learning curve and inexperienced traders can be overwhelmed by all the information available on the screen.
TD Ameritrade’s ThinkOrSwim is the best trading platform based on:
TD Ameritrade’s cutting edge technology it’s able to provide its clients with better execution quality. Traders will often receive price improvements on market orders (96.2% of the time) and respectively 97.4% of the time on share trading. The price improvement can translate into cost savings of USD 0.0273 per share or USD 2.73 per 100 shares.
Additionally, TD Ameritrade’s price engine technology enables traders to enjoy a fast execution speed of 0.08 seconds. The speed measures the time between the trades were “routed by TD Ameritrade to the time they were executed.”
Our team of experts has selected ThinkOrSwim as the best trading platform for US-based traders. ThinkOrSwim delivers the ultimate package which empowers traders to trade more efficiently. It’s safe to trade with TD Ameritrade one of the biggest stock brokerage firms in the US, part of the “big four brokerages.” Listed on the NASDAQ and regulated by the world’s most powerful financial agencies (SEC, FINRA and CFTC) your money is safe with TD Ameritrade.
NinjaTrader offers both a trading software solution and brokerage services for forex traders. As trading software, NinjaTrader aims to provide interrupted access to the forex market through a high-performance trading software. Founded in 2003, NinjaTrader Group is the home of over 60,000 active traders from over 150 countries.
NinajTrader’s pro charting package, real-time data; 1000s of technical indicators; apps and add-ons; lightning-fast order speed; advanced trade management gives active traders the perfect software solution.
The trading software also allows its users to filter instruments through NinjaTrader’s Market Analyser. You can build custom lists based on your trading needs and specific conditions. Additionally, you can test out the trading software with a risk-free demo account that lets you learn the platform’s features.
On the downside, the NinjaTrader platform will give you access to its premium features in exchange for a fee. The automated trading functionality and backtesting capabilities along with advanced order types and Order Flow+ package are part of NinjaTrader premium features. NinjaTrader paid version has a fee structure that is transparent. You can lease the platform using 3 pricing structures:
On the other hand, a lifetime NinjaTrader license will cost you USD 1,099. There is also a more flexible way to get the best value of the paid version by choosing to pay in 4 monthly instalments of USD 329. Another drawback is the limited number of NinjaTrader compatible brokers which include Citi Index, Forex.com, FXCM, Interactive Brokers, Oanda, TD Ameritrade, CQG and NinjaTrader Brokerage.
FXCM has the best technical analysis software based on:
FXCM’s NinjaTrader 8 is a Windows application that can’t be installed directly on the Mac OS. For NinjaTrader running on a MAC device, users need to use third-party software Parallels that lets you run windows applications on MAC OS.
Additionally, to the built-in tools that come with the NT8 platform, FXCM offers dozens of standalone apps, add-ons, automated strategies and indicators that can be integrated with the platform. The trading apps provide you with unique functionalities that can enhance your trading.
Advanced Analytics + Charting + Automation Capabilities = NinjaTrader 8
Based on our independent review, FXCM has the best technical analysis tools integrated with NinjaTrader 8. The broker offers elite pricing for active traders that can save you on average up to 62.4% when trading the major currency pairs. Overall, FXCM offers a safe trading environment for all of its clients.
View FXCM Review >>Visit FXCM >>
AvaTradeGo is a mobile trading app designed by AvaTrade team of experts. This innovative iOS trading app is compatible with iPhone, iPad and iPod touch and requires iOS 10.0 or later. AvaTradeGo is a multilingual app supporting 20 different languages. The amount of space required to install AvaTradeGo is 108.9MB.
The mobile app doesn’t simply connect traders to the global exchange market but also enables users to engage in copy trading, access market trends, create watch lists, access charting package, trade management features and much more.
The trading dashboard provides at-a-glance views of everything you need to stay in touch with the recent price movements. Additionally, novice traders can access a step-by-step guide on how to use the Apple trading App and get the most out of it.
One of the most innovative features available exclusively on iOS apps is AvaProtect. This risk management tool protects traders from losing money during periods of price volatility or uncertainty. To enjoy this kind of protection, traders need to pay a small premium fee. In exchange for this fee, traders you be guaranteed that during the selected time protection any losses will be reimbursed.
The AvaTradeGo mobile app doesn’t have many weaknesses as it’s fully functional and robust trading app.
AvaTrade offers the best iOS mobile trading app based on:
AvaTrade is a well-established brokerage trading firm with over 14 years in the FX space. AvaTrade clients can start trading on the forex market with an average EUR/USD spread of 0.9 pips. By the industry standards set by Pepperstone and IC Markets, the spreads are relatively high. That’s why we don’t recommend AvaTrade for active traders and day traders.
However, the range of tradable instruments offered by AvaTrade is diverse which opens the door for more trading opportunities.
AvaTradeGO – Innovative Technology at Your Fingertips
AvaTrade’s innovative app AvaGo took the most point in our proprietary scoring system and was awarded as the best iOS trading app. AvaTrade has a high reputation securing a 4 star Trustpilot score out of 2,753 reviews. The strong regulation adds an extra layer of protection, making it a safe forex broker.
Visit AvaTrade >>
Trader Workstation (TWS) by Interactive Brokers is a sophisticated proprietary multi-asset trading platform. The trading software is equipped with robust capabilities and complex trading features that are suited for professional traders and money managers. The TWS for Mac version requires to run at least Mac OS X version or above.
IB TWS is an advanced trading platform equipped with industry-leading trading tools and features. The Trader Workstation TWS is Baron’s number one recommended trading software for serious investors. Covering all the staggering amount of advanced features that TWS supports will require a dedicated review.
The top takeaways of the TWS Trader Workstation include advanced risk management tools (IB Risk Navigator, Model Navigator and Option Analytics); over 100 order types and algos; real-time monitoring system; world-class research, news and market data; Mosaic interface; market scanners and so much more.
While TWS robustness and trading features are the main advantages, this can also be one of the biggest challenges for both professional traders and especially for novice traders as it makes the platform more complex to master.
Interactive Brokers (IB) offers the best charting software through the TWS platform based on:
Besides the flagship TWS platform, IB also offers FXTrader a dedicated forex trading platform. The FXTrader is optimized for forex trading with direct market access (DMA). The FX platform has an ECN-like market structure, over 20 order types, order book, customized layout, trade management and so much more.
Interactive Brokers’ product offering list goes beyond currency trading and offers a diverse marketplace including access to “stocks, options, futures, futures options, SSFs, ETFs, EFPs, currencies, fixed income, warrants and funds.”
Our team of experts recommends IB’s TWS Workstation for the best charting software experience. With over USD 8.2 billion in equity capital, IB Group is a safe brokerage trading firm. Trading with one of the biggest US-based brokerage trading firms is an assurance that you’ll get the best online trading experience.
TradingView is a web-based charting software and social network place for market analysis and sharing trading ideas. The charting tools and features can be used for stocks, forex, futures and so much more. TradingView works with the latest Mac OS version and iOS devices.
Besides the technical chart capabilities, one of the most unique features of the web-based platform is the ability to compare the price data feeds from multiple supported brokerages. TradingView offers simple charting software with an intuitive layout and an all-in-one window for everything you need to trade successfully.
TradingView’s fast web-based charts incorporate 100s of technical tools, over 50 drawing tools, price alerts, market summaries, currency scanner, news headlines, customizable watch lists and so much more.
The main disadvantage of TradingView is that in order to access more advanced tools you need to acquire a subscription. Secondly, in terms of trade management, there are limited trading capabilities.
Oanda has the best web-based trading platform integrated with TradingView based on:
With over 23 years of serving retail clients, Oanda is the world’s oldest brokerages trading firms in the FX industry. Oanda easy-to-use web charts are powered by TradingView’s charting solution. Oanda clients have two options to access TradingView charts: directly from Oanda TxTrader, or “as log in to your OANDA account on TradingView.”
Forex traders can enjoy an impressive array of trading features that can help them identify new trading opportunities. The platform includes Autochartist, economic overlay, AI technology, a full suite of trading orders and so much more. On the downside, Oanda doesn’t offer protection against negative slippage and during the volatile time the spreads can widen.
Fast Speed + Powerful Tools + TradingView Integration = Oanda
Based on our independent review, Oanda has the best browser-based trading platform. Oanda is a safe company to trade with being regulated by tier-1 financial agencies (CFTC, NFA, IIROC, FCA, ASIC). Last but not least, Oanda is also fairly accessible offering low minimum deposit as little as USD 1.
View Oanda Review >>Visit Oanda >>
For our best forex trading platforms for Mac OS, we found 10 different brokers that are compatible with macOS. While Apple is one of the world’s biggest companies, not many platforms have native Mac desktop versions. Apple’s PC market share is still relatively low compared to Windows desktops. Apple’s market share in the global PC market by the number of units shipped is 7.0%. According to this statistic, Apple is the world’s 4th largest PC manufacturer.
Source: Wikipedia
Risk Warning: The latest Mac operating system (macOS 10.15 also known as macOS Catalina) has stopped supporting 32-bit applications. macOS Catalina only supports 64-bit applications which means many desktop trading platforms won’t work for Mac users.
Justin Grossbard has been investing for the past 20 years and writing for the past 10. He co-founded Compare Forex Brokers in 2014 after working with the foreign exchange trading industry for several years. He also founded a number of FinTech and digital startups including Innovate Online and SMS Comparison. Justin holds a Masters Degree and an Honours in Commerce from Monash University. He and his wife Paula live in Melbourne, Australia with his son and Siberian cat. In his spare time, he watches Australian Rules Football and invests on global markets.
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