Best Forex Trading Apps For Android

We liked how Pepperstone offers top-notch trading tools paired with an intuitive user interface, making it a standout choice for Android devices. The fully-featured MetaTrader platform supports all trading strategies, ensuring traders have all they need at their fingertips. Moreover, Pepperstone is a trustworthy broker that allows users to trial their services using a demo account loaded with USD 50,000 in virtual cash.

After our thorough analysis, we concluded that Pepperstone emerged as the top forex trading app for Android devices and smartphones. The MetaTrader app seamlessly combines robust trading tools, a user-friendly interface, and an extensive market availability. Notably, we also named Pepperstone our best Australian forex broker in 2024, considering its spreads, impeccable customer service, and its exemplary MT4 trading app.

The Best Choice For MT4

At CompareForexBrokers, we firmly believe that multi-regulated Forex broker Pepperstone offers the finest MetaTrader 4 (MT4) forex app for Android users.

For a start, the MetaTrader 4 app itself is a user-friendly, versatile trading platform with real-time charts and access to in-depth financial news and analytics. As a Pepperstone client, you’ll also get access to 30 technical indicators, 24 analytical objects and 9 time frames, along with other trading tools.

Secondly, and perhaps our highlight, Pepperstone gives you access to 28 additional Smart Trader tools (13 Expert Advisors and 15 indicators) to enhance your trade execution and risk management with MT4. We were particularly partial to the xx

Last of all, Pepperstone allows Android users to access over 180 financial instruments structured in several asset classes (currency pairs, commodity CFDs, stock index CFDs, shares, currency indexes and cryptos like Bitcoin).

Competitive MT4 Tested Spreads

Choosing Pepperstone’s Razor Account gives users access to competitive spreads.

Ross Collins, our Chief Technology Researcher, tested the average RAW account spreads for 15 of the top brokers and found that Pepperstone’s RAW account averaged 0.36 pips. That put Pepperstone in the top five and helped earn the broker our ‘Best Overall’ designation in a number of categories.

Fast Execution Speeds with MT4

Another area Pepperstone excels in as an MT4 broker is its execution speeds.

Similarly to our RAW spread testing, we conducted speed tests using MT4 for both limit and market orders across 20 top brokers.

Our results indicated that Pepperstone came out as the 3rd fastest broker overall, with speeds of 79ms for limit orders and 100ms for market orders. We consider anything under 100ms fast so Pepperstone’s speeds will help you reduce latency and thus slippage (I.E. cost of trade execution) while trading.

How to Download MT4 with Pepperstone

You can download the MetaTrader 4 for Android directly from the Google Play Store app and is one of the most popular and best forex trading apps, with downloads worldwide and nearly 10 million installs.

Pepperstone’s MT4 mobile app for Android devices requires Android 5.0 or later. If you are using Android’s main competitor, Apple, you will need an iPhone, iPad or iPod touch with iOS 12.0 or later to use the iOS mobile equivalent.

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We’ve experienced firsthand that IC Markets is the premier CFD trading platform for Android. It’s perfectly tailored for both novices and seasoned traders, with their MT5 program meeting the unique needs of each group. The Android version of IC Markets’ mobile MetaTrader 5 app features an easy-to-navigate interface, seamless one-click trading, a plethora of chart layout customisation options, and advanced charting and analysis tools.

Our team at Compare Forex Brokers found the MetaTrader 5 (MT5) Android app powered by IC Markets to be the best platform for trading CFDs. The MT5 trading app caters to both beginner and advanced traders. Our review takes into account the unique needs of both types.

We experienced IC Markets’ MT5 Android app firsthand and were impressed with its user-friendly interface, seamless one-click trading functionality, extensive chart layout customisation choices, and sophisticated charting and analysis tools.

Top MetaTrader 5 Android Experience

We downloaded the MetaTrader 5 for Android directly from the Google Play Store at no cost. Having been trusted by over 5 million users, this MT5 app is a favourite, ranking as the second most popular forex trading app by installation count. To fully utilise IC Markets’ MT5 mobile platform, you will need Android 4.0 or later.

Just like the desktop version, the MetaTrader 5 (MT5) is a multi-asset mobile trading platform. The MT5 mobile application supports both netting and hedging accounts, meaning you can hold multiple positions for the same financial instrument should you wish to.

Where MT5 ups the ante over MT4 with more trading tools (including 39 popular technical indicators and 44 graphical objects and 21 timeframes) and access to centralised trading (I.E. more markets to trade). We relished the opportunity to trade IC Markets’ full product range of +1600 financial instruments across seven distinct financial markets, backed by Depth of Market (DoM) from IC Markets’ trusted liquidity providers.

We especially liked how the app’s clean, straightforward interface made it easy to trade directly from charts and revise orders. When trading on the go, you don’t want to struggle and squint to track your positions or worry that a slip of the thumb will dramatically, unintentionally alter your trading strategy.

A simple drop-down menu makes it easy to toggle between positions, price alerts and orders. We were also impressed that the ‘Overview’ dashboard includes Depth of Market data.

Tight Spreads – 0.32 Pips on Average

One of the main benefits of choosing IC Markets is that this broker offers some of the best spreads on the market.

According to our research, IC Markets RAW account holders enjoy a respectable average spread of 0.32 pips. IC Markets even snagged the top spot for standard account average spreads at just 1.06 pips. (Compare that to our lowest-performing broker: 2.22 pips)

Low spreads will save you trading costs, and this can be significant if you are a high-volume trader.

Raw Account Spreads	EUR/USD GBP/USD EUR/GBP USD/SGD AUD/USD AUD/JPY EUR/JPY USD/JPY USD/CAD	EUR/USD GBP/USD EUR/GBP USD/SGD AUD/USD AUD/JPY EUR/JPY USD/JPY USD/CAD	EUR/USD GBP/USD EUR/GBP USD/SGD AUD/USD AUD/JPY EUR/JPY USD/JPY USD/CAD	EUR/USD GBP/USD EUR/GBP USD/SGD AUD/USD AUD/JPY EUR/JPY USD/JPY USD/CAD	EUR/USD GBP/USD EUR/GBP USD/SGD AUD/USD AUD/JPY EUR/JPY USD/JPY USD/CAD
	0.02	0.23	0.27	0.85	0.17
	0.10	0.30	0.30	1.40	0.20
	0.10	0.60	0.40	2.40	0.20
	0.20	0.50	0.40	1.50	0.20
	0.17	0.59	0.54	N/A	0.30
	0.20	0.60	0.50	10.00	0.40
	0.10	0.60	0.60	1.30	0.50
	n/a	0.20	0.60	3.10	0.50
	0.44	0.85	0.40	1.30	0.42

Avg. spreads are taken from each broker's website and updated monthly. Last update on 10/01/2024

After giving cTrader a whirl, we genuinely believe it’s a stellar alternative to the MetaTrader platform, especially when powered by FxPro. Users can seamlessly manage their accounts and tap into fund management services within the FxPro Direct App. What sets cTrader for Android apart is its dedicated section for price alerts, letting traders efficiently manage push notifications. This user-centric approach makes cTrader a worthy contender in the world of forex trading apps.

In our books, FxPro’s cTrader takes the cake when considering an alternative to MetaTrader. The FxPro Direct App streamlines account management and offers consolidated fund management solutions. A cherry on top is the dedicated tab within the cTrader Android app for managing push notifications for price alerts – a feature missing in the MT4 app.

cTrader is the Best Android Alternative to MT4

In our experience, cTrader, available through FxPro, is a strong MT4 alternative for Android enthusiasts. While the lion’s share of traders tend to gravitate towards MetaTrader 4, its simplistic design and basic feature set don’t cater to everyone’s tastes.

As a pioneer in introducing cTrader to its users, FxPro’s cTrader mobile app offers a lot in terms of features and benefits for Forex traders.

First of all, you get access to the full market depth. This means you get access to all available bid and ask prices at different volumes. Being able to assess market depth accurately before placing our orders meant we got the optimal execution prices.

Secondly, we also appreciate that the trading platform’s Smart Order Routing ensures that FxPro clients receive the best available price in 100% of the cases.

Lastly, you have access to a full suite of technical analysis tools and advanced charting options, including 57 technical indicators, 5 chart types, and 26 time frames.

About cTrader Android Mobile App

The cTrader App for Android devices is the mobile trading version of the cTrader desktop by Spotware Systems Ltd. Listed in the Google Play Store, cTrader for Android has 100,000+ downloads on unique devices.

cTrader mobile trading app details:

• App size: 35.0 Mb
• Current Version: 4.8.54458
• Requires Android: 5 and up
• Reviews: 4.6-star review out of 5 stars with over 7000 total reviews

The cTrader mobile app for Android devices requires Android 5 or later. At the same time, the mobile trading app for iPhone, iPad or iPod touch requires iOS 12.0 or later.

We’ve seen firsthand that ThinkTrader, previously known as Trade Interceptor, shines as the top forex trading app for those just starting out and experienced traders who prefer on-the-move action. ThinkMarkets offers the app a user-friendly interface, seamless performance, and standout features. ThinkMarkets has done a stellar job in eliminating common hurdles that novices often face, making it our prime pick among the forex brokers we’ve explored.

For those seeking a simple trading experience, ThinkMarkets’ proprietary app, ThinkTrader is the perfect fit for beginners. From our testing, the ThinkTrader mobile app for Android is user-friendly, with a sleek interface and a great range of trading tools.

ThinkTrader Has Good Risk Management And Education Features

For those who prefer on-the-go trading, the ThinkTrader app boasts a contemporary design, seamless interface, and distinct features.

The reason ThinkTrader stood out to us, however, is its risk management features and extensive educational resources.

In terms of risk management, we liked the quad screen display (4 charts on one screen), cloud-based alerts (important market updates without being logged on) and the ability to close all open orders instantly via the positions tab.

Our highlight, however, has to be the cutting-edge TrendRisk Scanner, a valuable trading signals tool that scans financial markets for high-probability trades. We liked the touch of having the assets ordered by risk/reward ratio to give us the profit potential of each market.

And as for education, ThinkTrader’s three-tiered trading tutorials (categorised into novice, intermediate, and advanced) are complemented by exhaustive guides that delve into technical indicators, oscillators, and chart patterns.

To help you trade forex successfully, beginners can also find an extensive glossary containing terms structured in key categories such as Foreign Exchange, Economics, Analysis, Trading and more.

Finally, ThinkMarkets has provided free downloadable trading guides for clients with different trading experiences and skills.

About ThinkTrader Android Mobile App

Developed in-house by the experts at ThinkMarkets, ThinkTrader is available for free download from the Google App Store.

The ThinkTrader mobile app for Android devices and smartphones requires Android 6 or later. At the same time, the mobile trading app for iPhone, iPad or iPod touch requires iOS 13.6 or later. This Forex app is available for download on Apple’s App Store as well as on Google Play.

We’ve delved deep into eToro’s Android trading app and can vouch for its prominence as the premier platform for social trading. eToro is celebrated globally for its forex social signals. Android users, in particular, will appreciate the blend of innovation and simplicity the app offers, coupled with an unmatched customer experience.

If copy trading is your game, eToro’s Android app is a definitive must-have. From our testing, the app is perfect to engage with fellow traders, mirror trades without any additional fees, craft a diverse portfolio of traders, and operate within an environment explicitly designed for Android.

The Best Android Mobile Social Trading Solution

When talking about standout social trading platforms on Android, eToro undoubtedly tops the list. With a reputation bolstered by its emphasis on forex social signals, it ensures a premier customer experience for its Android user base.

To us, however, the jewel in eToro’s crown has to be its CopyTrader feature. For those of us who might be taking baby steps into trading or lack extensive experience, this feature lets us peer into the strategies of seasoned traders, mirroring their moves in real time.

Apart from its advanced filtering and search tools, one feature of CopyTrader that stood out to us was the ease with which we could copy expert traders on the platform.

All we had to do was click ‘copy’ and choose the amount to deposit. This also included an option to stop copying if our copy value fell below a certain amount, like a stop loss order.

Other features we admired include the ProCharts, a a professional-grade technical analysis tool and the TipRanks Research tab, which provides market insight from investors and leading analysts from top financial institutions worldwide.

With a whopping 10 million downloads across over 140 nations on the Google store, the eToro Android app is one of the most popular on the market.

eToro’s mobile app for Android devices requires Android 5.0 or later, while the app for iPhone, iPad or iPod touch requires iOS 10.0 or later.

eToro Earns High Scores for Its Social Trading Experience

When talking about standout social trading platforms on Android, eToro undoubtedly tops the list. With a reputation bolstered by its emphasis on forex social signals, it ensures a premier customer experience for its Android user base.

Want to give it a whirl? eToro’s trading platform can be readily installed from the Google Play Store. It flaunts a whopping 5 million downloads across over 140 nations to further vouch for its popularity.

eToro’s mobile app for Android devices requires Android 5.0 or later, while the app for iPhone, iPad or iPod touch requires iOS 14.0 or later.

After exploring the Plus500 app, we genuinely believe it stands out for its stellar CFD risk management tools on Android. The app’s comprehensive risk management features, encompassing multiple stop losses, funds protection, mobile alerts, and GSL, rightfully earn it the top spot in this category. Plus, traders can benefit from live price quotes and commission-free share trading, all from the convenience of their mobile devices.

When weighing up the risk management tools, from diverse stop losses to client money protection and mobile alerts, Plus500’s proprietary platform stands tall. The app presents a rich array of financial markets, live price quotes, and the allure of commission-free share trading from our mobile devices.

The Best Risk Management Tools

From our testing, Plus500 is one of the top brokerages to offer valuable tools for managing high leverage on its mobile trading platform for Android-based devices.

Safeguarding trading positions against unexpected market twists is paramount for retail traders. To this end, we appreciated also the Plus500 mobile app’s risk management features, which included stop limit, stop loss and trailing stop orders (at no additional costs).

What particularly stood out to us, however, was it’s guaranteed stop loss orders (GSLOs), which not all broker apps offer. For an additional charge, utilising GSLOs ensures an absolute limit on your potential losses and also minimises the risk of slippage.

What we found, however, is that Plus500 allows GSLOs on some financial instruments only and will apply an additional spread.

Negative Balance Protection

Another risk management tool offered by Plus500 is negative balance protection. As a retail investor, this policy means your accounts cannot lose larger amounts than your initial deposits.

In addition, Plus500 assures that all client funds are kept in a segregated bank account, as the brokerage strictly complies with the Cyprus Securities and Exchange Commission’s client funds legislation.

The broker also assures that client funds are not used for hedging purposes and are not passed through to hedging counterparties.

About Plus500 App

As an in-house mobile trading app, the Plus500 platform can be found on the Google App Store and currently has more than 5 million installs, half as much as the MT4 Android App. You can even try the platform for free to do demo trades.

Plus500’s mobile trading app for Android devices requires Android 5.0 or later.

We’ve spent ample time with the Trading Station Android app by FXCM and can confirm it’s a top choice for traders seeking free forex trading signals. Beyond its user-friendly layout, the app provides tailored signals, a free trial period, and handy SMS notifications. What further elevates it is it offers a swift entry to the Forex and CFD markets.

From our experience, Trading Station by FXCM shines by offering stellar trading opportunities, especially with the unique trading signals from FXCM Plus. The app has tools to steer you towards success, bolstered by valuable market data and insights via FXCM’s proprietary Speculative Sentiment Index (SSI).

The Best Free Forex Signals App for Android Devices

In our quest to discover top-notch forex apps, we stumbled upon the Trading Station by FXCM. It stands out by drawing its strength from an intuitive interface, personalised signals, a free trial, and the bonus of SMS notifications.

FXCM’s proprietary trading platform, Trading Station Mobile, has a simple, intuitive interface and offers powerful trading tools for easy access to Forex and CFD markets.

One aspect that particularly piqued our interest was the broker’s trading signal service. We used the 14-day free trial on the Trading Station app for Android to give it a whirl.

FXCM’s trading signals service provides trade ideas that can be applied in live currency trading. After subscribing to that service, you will receive suggested entry prices and a clear plan to exit an active position (analysis with stop and limit orders) for as many as 39 currency pairs.

However, a word of caution to fellow retail traders – these trading signals shouldn’t be mistaken for investment advice. Making trading decisions based purely on these signals rests squarely on your shoulders, and it’s crucial to tread carefully.

About FXCM Android Mobile App

The FXCM app for Android is the in-house trading platform developed by the experts at FXCM. The FXCM mobile app has over 500k installs on the Google App Store from the UK to Colombia.

FXCM’s mobile trading app for Android devices requires Android 7.0 or later. At the same time, the mobile app for iPhone, iPad or iPod touch requires iOS 9.2 or later.

After navigating TD Ameritrade’s thinkorswim Android mobile software, we can confidently say it’s the cream of the crop for US traders. The platform furnishes a comprehensive trading suite suitable for stocks, futures, options, ETFs, currencies and beyond. Adding value, it delivers zero commissions on stock trading, real-time price quotes, CNBC news feeds, customisable charts, and a vast array of over 300 analytical tools and indicators.

Overall, thinkorswim by TD Ameritrade offers all the trading features that will suit U.S. traders, including zero commissions, a broad range of assets to trade and a huge array of trading tools to enhance your trading. Compared to other mobile applications, the thinkorswim app strives to offer its users a competitive trading environment.

Best Android Trading Platform for US Traders

We’ve given thinkorswim by TD Ameritrade a thorough test run and it easily earned its place as our top recommendation for the best Android trading app tailored for US traders.

The reason for this includes access to a broad spectrum of stocks, futures, options, ETFs, and currencies, which U.S. traders will appreciate. This includes being one of the world’s premier brokerage trading entities, offering comprehensive access to the US stock market, including free level 2 market data (showing orders below best bid or above best offer) and low trading fees.

Additionally, thinkorswim stands out with enticing offerings such as zero commission on stock trading, real-time price quotes, live CNBC news feeds, customizable charts, and a mind-boggling array of over 300 analysis tools and indicators.

Indeed, there are so many great features to thinkorswim that we can’t list them all.

To us, however, it is the enriched user experience that we appreciated the most, with thoughtful details like easily customizable layouts & workspaces and live help that is built into the app.