The popularity of forex trading in the UK has led to the introduction of numerous trading apps in the country. As a trader, selecting the right app is essential for efficiently managing your positions and unlocking your full potential. To help you make an informed decision, we have conducted extensive research and testing. In this article, you will find our recommendations for the best forex trading apps, along with explanations of how these apps work and additional information to help you in your trading journey.
Essence
- Forex (foreign exchange) trading involves buying and selling currencies in the global market to profit from currency fluctuations.
- Forex is one of the largest and most liquid markets globally.
- Choose an FCA-regulated forex trading app to ensure regulatory compliance and a trustworthy trading environment.
- Opt for a forex trading app that aligns with your individual needs, providing a personalised trading experience.
- User opinions offer insights into app reliability.
- The daily volatility of forex markets offers opportunities to capture profits due to frequent price movements.
- Forex trading has become convenient, enabling individuals to trade in real time using mobile apps.
- Use demo accounts offered by forex apps to practice trading, test strategies, and get comfortable with the app without risking your own money.
List of the Best Forex Trading Apps in the UK 2024
- Pepperstone – Best Forex Trading App For Social Traders in the UK
- Admiral Markets – Best Forex Trading App for MetaTrader UK Users
- Spreadex – Best Forex Trading App With Spread Betting Options
- FP Markets – Cheapest Forex Trading App in the UK
- Plus500 – Biggest CFD* Broker in the UK**
- eToro – Best Forex Trading App for Beginners in the UK
- AvaTrade – Best Forex Trading App for Automated Trading in the UK
- FxPro – Best Forex Trading App With Multiple Platforms
- OANDA – Best Forex Trading App For Android Users in the UK***
- Forex.com – Forex Trading App for iPhone in the UK
- XM – Three Different Forex Trading Apps Under One Roof
- XTB – Best Forex Trading App With No Minimum Deposit Requirement
*80% of CFD retail accounts lose money on Plus500
**Investment Trends 2022
***76.6% of retail investor accounts lose money when trading CFDs with OANDA provider
How We Choose Forex Trading Apps
As seasoned traders with decades of experience in finance, our approach to recommending forex trading apps is meticulous and thorough. We invest hundreds of hours in exhaustive research, leaving no stone unturned.
Our process begins by carefully selecting a wide range of forex apps UK, ensuring they are hosted by brokers regulated by the Financial Conduct Authority (FCA). We then download these apps onto our mobile devices and create trading accounts on their platforms. To assess their performance, we extensively utilize demo accounts, rigorously testing their features before narrowing down our top choices.
After conducting rigorous testing, we delve into user feedback on platforms like Google Play, the App Store, and Trustpilot. This additional step ensures our recommendations remain unbiased, reflecting real user experiences. Our goal is to match every trader with an app that perfectly aligns with their individual needs.
Trust TradingGuide for the best recommendations and comprehensive learning resources.
In this guide
Best Forex Trading Apps in the UK
- List of the Best Forex Trading Apps in the UK 2024
- Compare The Best Forex Trading Apps in the UK
- Brief Overview of Our Recommended Forex Trading Apps’ Fees and Assets
- Our Opinion & Overview of the Best Forex Trading Apps in the UK
- What Do Other Traders Say?
- How do Forex Trading Apps Work?
- How To Choose the Right Forex Trading App in the UK
- What are the Risks of Using a Forex Trading App?
- How To Register a Forex Trading App Account
- Best Forex Trading Indicators
- FAQs
Compare The Best Forex Trading Apps in the UK
Evaluating brokers’ features is a comprehensive process in our search for the best forex trading apps in the UK. We analyze critical factors such as regulatory compliance, platform performance, reliability of customer support, and more. Refer to the table below for a detailed comparison of these key aspects that are crucial for making informed choices.
| Best Forex Trading App | Licence | Support Service | Software | Payment | Demo Account | Money Insurance |
|---|---|---|---|---|---|---|
| Pepperstone | FCA, ASIC, DFSA | 24/7 | MetaTrader 4, MetaTrader 5, cTrader, TradingView, Capitalise.ai, Social Trading | Credit cards, Bank transfer, PayPal, Neteller, Skrill, Union Pay | Yes | Yes (up to £85,000) |
| Admiral Markets | FCA | 24/5 | MT4, MT5, MT WebTrader, Admiral Markets Platform | Bank Wire Transfer, Credit/debit cards, Skrill, Neteller, Paypal, Klarna, iDEAL | Yes | Yes (up to £85,000) |
| Spreadex | FCA, SEBI | 24/5 | IPHONE App, IPAD App, ANDROID App, TradingView | Bank Wire Transfer, Credit cards | No | Yes (up to £85,000) |
| FP Markets | CySEC, ASIC, FCA, SEBI | 24/7 | MT4, MT5, cTrader, Iress, | Credit and Debit cards, Bank transfer, PayPal, Neteller, Skrill, PayTrust FasaPay | Yes | Yes (up to $500,000) |
| Plus500 | FCA, CySEC, ASIC, MAS, FSA | 24/7 | Plus500 Webtrader | Bank Wire Transfer, Credit/debit cards, Paypal, Skrill | Yes | Yes (up to £85,000) |
| eToro | ASIC, CySEC, FCA, FSAS | 24/5 | eToro investing platform, Multi-asset platform, Copy Trader | Debit cards, Bank transfer, Neteller, Skrill, eToro Money, Online Banking | Yes | Yes (up to $250,000) |
| AvaTrade | CBI, CySEC, ASIC, BVIFSC, FSA, SAFCSA, ADGM, ISA | 24/5 | MT4, MT5, AvaTradeGO, AvaOptions, AvaSocial, DupliTrade, Capitalise.ai | Credit card, Debit card, Wire transfer, Paypal, Skrill, NETELLER, WebMoney | Yes | Yes (up to $1,000,000) |
| FxPro | SEBI, FCA, CySEC, FSCA, SCB, FSCM | 24/5 | FXPro Trading Platform, MetaTrader 4, MetaTrader 5, cTrader | Wire transfers, Credit/Debit cards, PayPal, Neteller, Skrill | Yes | Yes (up to £85,000) |
| OANDA | FCA, CySEC, FSA | 24/5 | MT4 | Credit or debit cards and Wire transfer | Yes | Yes (up to £85,000) |
| Forex.com | FCA, CFTC, NFA, CIMA, CIRO, CySEC, FSA | 24/5 | MT4, MT5, TradingView | Bank transfer, Credit/debit cards, Skrill, Neteller | Yes | No |
| XM | CySEC, ASIC, FSC, DFSA | 24/5 | MetaTrader 4, MetaTrader 5 | Credit card, Debit card, Neteller, Skrill, UnionPay, WebMoney, Bank Wire | Yes | Yes (up to €20,000) |
| XTB | FCA, KNF, CNMV | 24/5 | xStation 5, xStation Mobile | Credit/debit cards, Bank Transfers, Skrill | Yes | Yes (up to £85,000) |
Brief Overview of Our Recommended Forex Trading Apps’ Fees and Assets
Choosing the right forex trading app can significantly impact your trading experience. Explore key information on fees and available assets across our recommended forex trading apps in the table below. Use this data to make an informed choice that suits your trading strategies and financial goals.
Fees
| Best Forex Trading App | Fees | Minimum Deposit Requirement | Transaction | Inactivity |
|---|---|---|---|---|
| Pepperstone | From 0.0 pips | £0 | Free | None |
| Admiral Markets | From 0.0 pips | £250 | Free, but 1% exchange fee | €10 monthly |
| Spreadex | From 0.6 pips | £0 | Free | None |
| FP Markets | From 0.0 pips | £100 | Free | None |
| Plus500 | From 0.0 pips | £100 | Free | £10 monthly |
| eToro | 2 pips | $100 | $5 withdrawal | $10 monthly |
| AvaTrade | 0.03 pips | £100 | Free | £50 quarterly |
| FxPro | From 0.0 pips | £100 | Free | $15 once + $5 monthly |
| OANDA Europe LTD | From 0.8 pips | £0 | Free | £10 monthly |
| Forex.com | From 0.0 pips | £100 | Free | £15 monthly |
| XM | From 0.6 pips | £5 | Free | $15 one-off maintenance fee |
| XTB | From 0.1 pips | £0 | Free | £10 monthly |
Assets
| Best Forex Trading App | Forex | Stocks | Commodities | ETFs | Options |
|---|---|---|---|---|---|
| Pepperstone | Yes | Yes | Yes | Yes | Yes |
| Admiral Markets | Yes | Yes | CFDs on commodities | Yes | No |
| Spreadex | Yes | Yes | Yes | Yes | Yes |
| FP Markets | Yes | Yes | Yes | Yes | No |
| Plus500 (CFDs) | Yes | Yes | Yes | Yes | Yes |
| eToro | Yes | Yes | Yes | Yes | No |
| AvaTrade | Yes | Yes | Yes | Yes | Yes |
| FxPro | Yes | Yes | Yes | Yes | No |
| OANDA Europe LTD | Yes | No | Yes | No | No |
| Forex.com | Yes | Yes | Yes | Yes | No |
| XM | Yes | Yes | Yes | No | No |
| XTB | Yes | Yes | Yes | Yes | Yes |
Our Opinion & Overview of the Best Forex Trading Apps in the UK
As professional forex traders, we thoroughly test multiple trading apps before making recommendations. In the sections that follow, we provide our opinion and overview based on our hands-on experience. Our goal is to ensure you gain a clear understanding of each app’s features, advantages, and potential drawbacks.
1. Pepperstone – Best Forex Trading App For Social Traders in the UK
Pepperstone is one of the UK brokers that allows traders to explore major, minor, crosses, and exotic currency pairs. We discovered over 90 currency pairs alongside 1200+ CFD instruments. These include shares, indices, commodities, ETFs, and more, which you can use to diversify your portfolio. The best part is that the broker has a user-friendly and customisable platform compatible with desktop and mobile devices.
We also like that Pepperstone has no minimum deposit requirement and no transaction fees. Moreover, it hosts trading tools suitable for all types of traders on its world-renowned third-party platforms. These include cTrader, TradingView, MT4, and MT5. These platforms also feature social trading, whereby users get to mingle with their peers to learn more trading tips. With social trading, you can also follow the most professional forex traders and mirror their potentially profitable positions.
✔ No dealing desk intervention
- No minimum deposit requirement
- Low forex trading fees with spreads from 0.0 pips
- Multiple trading platforms to choose from
- Quality learning and market analysis tools
- Limited asset offerings compared to its peers
- Its featured assets are available to trade as CFDs and spread betting only
| Type | Fee |
| Minimum Deposit | $200 |
| Withdrawal fee | $0 |
| Deposit fee | $0 |
| Inactivity fee | No |
| Account fee | No |
2. Admiral Markets – Best Forex Trading App for MetaTrader UK Users
Our experience with Admiral Markets led us to conclude that it is an excellent choice for MetaTrader users. Founded in 2001, this forex and CFD app continues to impress users with its superior services. We like that MetaTrader platforms host quality market analysis materials that help forex traders with their financial objectives. Plus, forex trading on these platforms attracts spreads starting from 0 pips (for Zero.MT4 and Zero.MT5 accounts). We also noticed that the app of the broker is backed up by a professional support team operating 24/5.
Forex trading at Admiral Markets’ MT4 and MT5 platforms exposes you to 82 currency pairs, including major, minor, and exotic. An additional 8,000+ securities are also offered, including stocks, ETFs, indices, and more. For beginners, this app has an in-built demo account where you can test its performance without risking your capital. Its robust learning resources will provide you with solid knowledge, awareness and increase the level of your confidence in exploring the dynamic currency market. Note that this broker is UK-regulated and has excellent ratings from users on Google Play, the App Store, and Trustpilot.
✔ Advanced trading tools
- Appealing forex spreads from 0 pips
- Numerous currency pairs to trade
- The MT4 and MT5 platforms host quality learning and market analysis resources
- Free (no-fee) deposits
- A user-friendly and secured forex trading app
- Its featured free MetaTrader Supreme Edition plugin is not available on the MT4/5 mobile editions
- Its £250 minimum deposit requirement can be high for traders who is looking for lower entry threshold
- Its demo account expires after 30 days once activated
| Type | Fee |
| Minimum deposit | £250 |
| Deposit fee | $0 |
| Withdrawal fee | 1 free withdrawal request every month, after – 1% |
| Inactivity fee | Monthly €10 |
| Overnight fee | Yes |
Investments involve risks and are not suitable for all investors. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
3. Spreadex – Best Forex Trading App With Spread Betting Options
Spreadex stands out as one of the best forex trading apps with spread betting options in the UK market today. Established in 1999, this trading app combines the convenience of mobile trading with the flexibility of spread betting, offering traders a powerful and intuitive platform to navigate the forex markets. Offering over 60 currency pairs and no minimum deposit requirement, Spreadex is a go-to choice for forex traders looking for an all-in-one trading solution.
What sets Spreadex apart is its innovative and user-friendly mobile app, tailored for both beginner and experienced traders. Besides currencies, the app lists an additional 10,000+ tradable instruments for portfolio diversification. Spreadex’s commitment to competitive pricing, with spreads as low as 0.6 pips, makes it a cost-effective option for forex traders looking to maximise their returns while minimising trading costs.
✔Helpful customer service
- Free deposits and withdrawals
- Over 60 currency pairs are available for trading
- User-friendly mobile app suitable for traders of all levels
- Competitive spreads starting as low as 0.6 pips, helping to reduce trading costs.
- No negative balance protection for professional traders
- Limited advanced research resources
| Type | Fee |
| Minimum deposit | Free |
| Overnight fee | Yes |
| Deposit fee | Free |
| Withdrawal fee | Free |
| Inactivity fee | Free |
4. FP Markets – Cheapest Forex Trading App in the UK
FP Markets is an Australia-based company with a strong presence in the United Kingdom. It serves millions of forex traders looking for a reliable and cost-effective trading solution. With it, you have access to over 60 currency pairs, all of which you can explore on a user-friendly and customisable interface. You can download FP Markets’ native app from Google Play or the App Store to trade on the go.
FP Markets is recognized as one of the cheapest forex brokers in the UK due to its low spread structure starting from 0.0 pips. With such low forex trading charges, traders can take advantage of price movements in the market with minimal costs. This is particularly important for traders looking to trade regularly, as it helps keep their trading costs to a minimum. Beginners can also benefit from these low charges when exploring forex and additional assets.
Besides charging low spreads, FP Markets has a low minimum deposit requirement of £100. There are also no transactions or inactivity charges, giving you all the flexibility you need to explore the forex market. without incurring unnecessary costs. You will enjoy forex trading on FP Markets’ advanced MT4 trading platform. Other platforms this broker offers include MT5, WebTrader and Iress (DMA).
✔Accounts can be opened fast and easy
- Highly rated social and copy trading platforms for maximum experience
- Low forex trading charges starting from 0.0 pips
- Additional CFD asset classes, including shares, commodities, cryptocurrencies, etc., for portfolio diversification
- Compatible with Android and iOS mobile devices
- Features expert advisors and quality research resources
- No safe two-step login procedure for mobile devices
- Forex price plan is unavailable
| Type | Fee |
| Minimum deposit | $100 |
| Overnight fee | $0 |
| Deposit fee | $0 |
| Withdrawal fee | Depends on payment method |
| Inactivity fee | $0 |
5. Plus500 – Biggest CFD Broker in UK*
*Investment Trends 2022
Plus500 is a multi-asset broker that currently offers three platforms: Plus500 CFD with more than 2800 CFD instruments, Plus500 Invest with more than 2700 shares, and Plus500 Futures – a futures platform available in the US only. It is regulated by world-class financial authorities, including the Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC), ensuring security for your investments.
The Plus500 CFD trading app ranks among the highest-rated* on Google Play and Apple’s App Store, praised for its efficiency and powerful advanced features that enhance trading experiences. This places Plus500 at the forefront as the biggest CFD broker in the UK*.
Plus500 operates with tight spreads and offers a diverse range of tradable instruments including forex, shares, commodities, and ETFs, all available through CFDs with leverage up to 1:30.
While Plus500 excels in trading functionality, it lacks robust educational and research tools. However, you can evaluate its offerings using a demo account to determine if they meet your investment requirements. Plus500 also provides reliable 24/7 customer service for prompt assistance with any trading issues.
*Best rated mobile app
✔ Regulated in many countries
- 0% commission on CFDs forex trading.
- Highly rated trading app on Google Play and App Store.
- Regulated by tier-one financial authorities.
- Limited educational and research tools.
- Charges inactivity fees which kick in after three months of inactivity.
| Type | Fee |
| Overnight Funding | yes |
| Currency Conversion Fee | 0.7% |
| Guaranteed Stop Order | spread applies |
| Inactivity Fee | $10 per month |
| Withdrawls/Deposits | $0 |
Note: 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
6. eToro – Best Forex Trading App for Beginners in the UK
Every novice investor in the UK, let alone worldwide, wishes to find a forex broker with an easy-to-use trading platform that is fully customisable. eToro’s forex trading app platform not only has a great user interface design but is also very responsive.
Designed with beginners in mind, eToro’s trading platform features innovative social and copy trading capabilities. These allow you to engage with other forex investors through chat groups and replicate trades from experienced traders. Although the copy feature is not a sure-fire way to earn profits, it helps you quickly learn and improve your forex trading strategies.
Trading on eToro’s app is seamless because of its precise design and robust functionality. Beginners will certainly enjoy using this app even though it has limited educational and research tools. You can explore its features using a practice account loaded with £100,000 in virtual funds to determine if it meets your trading needs.
✔Low minimum to fund an account and begin investing
- Advanced social and copy trading feature.
- Multi regulated forex broker by tier-one authorities.
- Free £100,000 demo account.
- High spreads.
- High non-trading charges.
| Types | Fee |
| Minimum Deposit | $100 |
| Conversion Fee | depends on your payment method, currency, and eToro Club level. |
| Overnight Fee | vary according to the value and direction (BUY or SELL) of your position |
| Withdrawal Fee | all withdrawal requests are subject to a $5 USD fee |
| Inactivity Fee | monthly inactivity fee of $10 USD (charged after 12 months) |
7. AvaTrade – Best Forex Trading App for Automated Trading in the UK
Since its establishment in 2006, AvaTrade has rapidly grown to become one of the most reputable brokers in the UK and globally. Regulated by tier-one financial authorities, including the Central Bank of Ireland, AvaTrade ensures the safety of your investment capital.
The AvaTrade app, AvaTradeGO, is compatible with all mobile devices. You can download the app and sign up for a forex trading account in minutes. The app includes innovative features such as AvaProtect, which safeguards your funds in case of trade losses. AvaTradeGO also supports AvaOptions, catering to options traders with over 40 currency pairs and advanced mobile-friendly charting tools.
Additionally, there is the AvaSocial feature that lets you interact with other traders and learn new trading strategies. You can also copy trades from expert traders increasing your chances of making profits. If you like MetaTrader4 and 5, AvaTradeGO allows access to it, where you will find technical tools like expert advisors and forex trading robots for automated trading.
✔ Quick deposits and withdrawals
- 0% commission on forex trading.
- User-friendly and customisable MetaTrader 4 platform.
- Supports popular modes of payment, including debit/credit card, bank transfers, and e-wallets.
- AvaSocial feature to mirror trades from the experts.
- Charges a high inactivity fee which kicks in after three months of non-use.
| Type | Fee |
| Minimum Deposit | £100 |
| Inactivity Fee | USD Account: $50 EUR Account: €50 GBP Account: £50 |
| Administration Fee | USD Account: $100 EUR Account: €100 GBP Account: £100 |
| Deposit Fee | $0 |
| Withdrawal Fee | $0 |
8. FxPro – Best Forex Trading App With Multiple Platforms
Our experience with the FxPro forex trading app has reinforced its position as one of the top choices in the currency market. The app features a user-friendly interface and smooth navigation across multiple platforms, including FxPro MT4, MT5, and cTrader. The advantage of having various platforms within one app is that you can easily switch to a more advanced option without needing to download additional apps. We traded over 70 currency pairs with low spreads starting from 0.6 pips on major pairs.
In addition to forex, FxPro offers a range of CFD assets, including shares, indices, futures, metals, and energy. We like that the app allows its clients to use leverage, up to 1:30 for retail traders and 1:500 for professionals. The availability of quality learning and research materials further enhances the app’s appeal, providing valuable insights for informed decision-making. Overall, FxPro’s No Dealing Desk intervention ensures transparent and fair trade executions.
✔ Trustworthy broker
- Low minimum deposit requirement
- Advanced trading platforms, including FxPro proprietary, MT4, MT5, and cTrader
- High leverage limit for professional traders
- Reliable and responsive support service
- Limited asset offerings compared to its peers
- You can only trade the available assets as CFDs
| Type | Fee |
| Minimum deposit | $100 |
| Withdrawal fee | $0 |
| Inactivity fee | $15 once + $5 monthly |
9. OANDA Europe LTD – Best Forex Trading App For Android Users in the UK
We consider OANDA’s forex trading app the best for Android users in the UK due to its overwhelmingly positive ratings on the Google Play store. With this app, you will have access to a wide range of instruments, including CFDs and spread bets on FX, indices, commodities, bonds and metals. OANDA Europe LTD offers a simple, intuitive interface that is easy to navigate, making it ideal for traders who want to stay connected to the markets while on the go.
Like its web version, OANDA Europe LTD’s app is highly secured and is regulated by the FCA, ensuring your funds and personal information are protected. With its seamless integration with the desktop platform, you can easily switch between devices without missing a beat.
Traders can further explore the platform’s features and performance through an OANDA Europe LTD review, ensuring a secure and seamless trading experience.
✔ Fast and user-friendly account opening
- Simple, intuitive interface
- Advanced order management features
- Backed by a highly reputable, FCA-regulated broker
- Seamless integration with the desktop platform
- No face or touch ID on its mobile trading app
| Type | Fee |
| Minimum deposit | $0 |
| Overnight fee | Yes |
| Deposit fee | $0 |
| Withdrawal fee | $0 to your PayPal account* |
| Inactivity fee | Yes |
*We do not charge a fee for withdrawals made to your PayPal account. If your PayPal account is denominated in a currency other than GBP, EUR or USD, you may incur an exchange fee levied by PayPal.
Note: 76.6% of retail investor accounts lose money when trading CFDs with this provider.
10. Forex.com – Forex Trading App for iPhone in the UK
Forex.com is a global forex broker that was founded in 2001. It offers a plethora of forex trading instruments with more than 90 currency pairs. Its forex trading app is one of the best in the UK and delivers a seamless experience on iPhone mobile devices.
This app is easy to download and install on your iPhone. Creating a trading account on Forex.com is also straightforward and will probably take you a few minutes. You will need to make a minimum initial deposit of £100 to start trading Forex.com is known for its competitive pricing, with no trading fees and low spreads.
A standout feature of Forex.com is that it provides many research and educational tools beneficial for all kinds of investors. It also has a very responsive customer support service that is available 24/5 in different languages via phone, email, and live chat.
Additionally, Forex.com allows margin trading, allowing you to leverage your trades and potentially increase your profits. Installing the app on your mobile device ensures you can monitor your trades and stay connected to the market wherever you are.
✔ Wide array of offerings
- +90 currency pairs.
- Many educational and research tools.
- Highly advanced trading platform.
- Regulated by first-class financial authorities.
- High inactivity fees of £15 after 12 months.
| Type | Fee |
| Minimum deposit | $100 |
| Inactivity fee | $15 |
| Deposit fee | $0 |
| Withdrawal fee | $0 |
| Overnight fee | $0 |
Clients can trade Forex, Indices, Cryptocurrencies, Stocks, and Commodities (including precious metals and oil) with different account types.
11. XM – Three Different Forex Trading Apps Under One Roof
For an exceptional forex trading experience, XM offers two top-rated apps: Metatrader 4 and XM Trader. These award-winning apps allow you to manage all your trading activities from your smartphone with ease.
XM excels in both mobile and desktop trading. Its desktop platform features over 90 indicators, providing you with comprehensive tools for effective market analysis.
Additionally, XM offers access to more than 1,000 assets across six different asset classes, making it a great choice for integrating forex trading with CFD trading.
✔ A truly global company
- Two really good forex trading apps to choose from + the Metatrader 5 for CFDs
- Some of the tightest forex spreads in the industry
- Fully regulated across Europe, including in the UK
- The educational material offered is not the greatest or most comprehensive
| Type | Fee |
| Minimum deposit | 5$ |
| Overnight fee | 0$ |
| Deposit fee | 0$ |
| Withdrawal fee | 0$ |
| Inactivity fee | $15 one-off maintenance fee |
12. XTB – Best Forex Trading App With No Minimum Deposit Requirement
Forex trading with XTB allows you to get started with any amount you can afford. The trading app is user-friendly and does not have a minimum deposit requirement. It is also one of the low-cost forex apps with low spreads starting from 0.1 pips. Our experience with XTB included swift deposits and withdrawals, making it an appealing choice for beginners and cautious traders.
For online trading, XTB provides over 50 currency pairs tailored for UK traders, along with micro lot trading and leverage up to 500:1 for professional traders. The app also supports automation through an Application Programming Interface (API), enabling direct connections to its automated trading system. Compatible with both Android and iOS devices, XTB enjoys excellent reviews from mobile users on Google Play, the App Store, and Trustpilot.
✔ Wide range of global markets
- No minimum deposit requirement
- Plenty of quality learning and research tools
- Low forex spreads starting from 0.1 pips
- Leverage limit of up to 500:1
- Availability of currency pairs can be improved
- Only CFD assets available for portfolio diversification
| Type | Fee |
| Opening an account | $0 |
| Account type: Standard: spread | 0.5 |
| Account type: Swap Free: spread | 0.7 |
| Forex | From 0.1 pips |
| Stock CFDs commission | 0% |
| ETF CFDs | 0% |
| Crypto commission | From 0.22% |
| Monthly Fee for maintaining an Account | Free of charge or up to 10 EUR |
| Withdrawal fee | $0 |
| Deposit fee | $0 |
What Do Other Traders Say?
Gaining insights from fellow traders is crucial when evaluating forex trading apps. Below, we present unfiltered user feedback for some of the top forex trading apps in the UK. These diverse experiences aim to guide your decision-making process in selecting the best app for your forex trading needs.
Plus500
Users commend Plus500 for its intuitive mobile app and access to various currency pairs for trading. However, some users suggest improvements in customer service responsiveness.
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“After many years of trading on this platform I had the chance to learn and improve my trading skills. It’s the best app and easy to use. I’ve tried other platforms but this one it’s far better ?” – Ludovic Gyorfi
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“Very good, no problems with deposits or withdrawals, real time prices, you can make alot of money here.” – ramzyki
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“What made me happy and relieved in my trading life with plus500 is the withdrawals they so quick it literally never took me more than 6 minutes it was approved. Well guys hope south Africa uses your great platform ??” – Sifiso Lucky Biyela
Spreadex
Spreadex’s mobile app is commended for its simplicity and accessibility in forex trading on the go. Users appreciate the straightforward interface and diverse range of available markets within the app.
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“Easy to use Platform, v friendly staff. Never had any issues” – Matthew Hill
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“Been with Spreadex more than ten years, great range of markets, particularly among UK smaller caps. Pay up quickly when a short goes to ‘zero’ too, much better experience than I have had with CMC for example.” – TheAceTrader
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“A very useful financial spread betting app that should cover all your needs. It’s definitely the most useable of the broker apps that I’ve tried. A great platform that lets you analyse the markets, place spread bets & manage your risk and positions all on your phone. They’ve also got a great range of tools and excellent customer service which I found very attractive. 10/10 for my experience with Spreadex thus far” – JakeReadman
FP Markets
FP Markets’ mobile app earns praise for its robust trading infrastructure and user-friendly design. Traders highlight the app’s reliability and execution speed in forex trading.
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“Customer support is really marvelous, my problem was taken seriously and solved within no time. Thanks to the team for their efforts. Great!” – Tariq
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“The app is user friendly. Even for beginners, it is easy to use, and the customer service live chat is quick in replying.” – Wayne K
XTB
Traders admire XTB’s comprehensive trading tools and educational resources integrated into the app. The platform’s analytical tools and customer support are highlighted as advantageous for mobile traders.
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“I have shares in other brokers, but I’m using this app to check prices and charts because it’s simply better. Flawless usability” – Kosciej
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“Very good app. Customer service is welcoming. Lots of information for new traders available for free. Feel very valued and accepted as a beginner. Best app I have found after trying 10+ others.” – Thomas Ashley
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“Excellent account managers who keep in touch. Find the app easy to use. Lots of educational content to help me learn. Good use of news and kept up to date with any stock market changes.” – Ross
eToro
Users praise eToro’s user-friendly interface and innovative social trading features within the app. The ability to copy successful traders and the availability of various currency pairs for trading receive positive feedback.
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“Good reliable platform for investing in various asset classes and also for day trading. The assigned RMs are proactive and available to give guidance as needed. The RM follows up until the query is resolved.” – Ankit
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“Really I think it is amazing app” – AmirFerdos
AvaTrade
AvaTrade’s app receives acclaim for its comprehensive forex trading options and intuitive interface. Users value the app’s accessibility and the array of available currency pairs.
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“Mr. Hank of Avatrade immediately phoned me after my registration and shared many interesting things. As a beginner these lessons are helpful. I am pleased with their quick response.” – Arif
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“Very smooth and clean, educational videos to support your understanding of the system and trading in general. Interactive customer service that actively try to support you as best they can, very friendly and understanding” – Jaundre Koekemoer
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“Application is easy to use. The customer services is very helpful. And it’s a great way to learn and trade with professional help alway their to assist” – Stefan Strydom
FxPro
Many traders praise FxPro, primarily for its tight spreads, comprehensive market analysis tools, and innovative trading technologies. We also noticed a few commending the broker’s commitment to transparency, while others find its support team very reliable.
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“I just love this app, everything is clear, it’s perfect for all types of investor also for long term invest.” – Dibakar Barua
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“While providing the services, they did it quickly and proactively. The provides a wide range of functions that are useful while generating monthly and yearly returns. The dashboard is designed to be easy to use and understand” – Nitesh Saini
OANDA
OANDA’s app is appreciated for its reliability and range of available currency pairs. However, some users mention the need for additional educational materials focused on trading strategies within the app.
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“Account was easy to open and was contacted next day by Luke a VERY helpful account manager who was very knowledgeable and answered all my questions quickly. Happy with service.” – Lucy P T
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“The most reliable broker out there I’ve been with them for years and they’ve never disappointed me and when it comes to withdrawal they are super fast I would rate them 10/10 but obviously no broker is perfect but so far so good” – Zukisa Gaca
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“iOS 12.3.1 is the software I’m currently using and the app crashes out of the blue a lot and I’m using the app on my iPad Pro 11 inch with iOS 12.3.1 and on my iPhone XR running the same software! The only way to describe the crash is that it happens out of the blue I could launch the app and it runs fine for a few minutes and then it just crashes and kicks me back to the home screen and then sometimes I’ll open the app pull up a chart and try to switch between the different time frames and it will crash! Please fix this I do most of my trades from my mobile devices and I love the oanda app but the random crashes Haagen got to go thanks in advance!!!” – Michael
Forex.com
Users appreciate Forex.com’s mobile app and its comprehensive research tools. However, some users mention the need for improved customer service and additional educational resources.
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“It’s a very good app. Easy to use and execution is fast. I enjoy using it.” – Charles Salter
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“I dont understand why i cant get notifications, whether its alerts or trades or news, i cant get a notification. I’ve uninstalled and reinstalled but still nothing. I get a pop up in the app to allow notifications but then once im in system settings theres no option to allow notifications. I dont know what to do about it so here i am. Hopefully this gets fixed ASAP.” – NotifyM3Forex
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“A Great Broker for Noobs and Pros! Customer Service is great they help with any problems you may be having. Website is easy to navigate as well.” – Caden Relmers
XM
XM’s mobile app is recognised for its user-friendly interface and access to various global currency markets. However, there are occasional remarks about customer service and the need for more advanced trading tools within the app.
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“I have never seen a cool app like this, deposits are super fast, withdrawals also the same, verification, it’s super cool, it’s really amazing, thanks to team xm, I really recommend every trader to use this app” – Ahabwe Peter
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“The service was outstanding. Deposit and withdraw very fast.
Bonus 100% limited to 500 usd, it’s better to increase the amount limited bonus. ?. Overall the trusted broker and legitimate.” – Abdul Baset
How do Forex Trading Apps Work?
Forex trading apps provide convenient platforms for traders to engage in the foreign exchange market directly using their smartphones or tablets. These apps streamline the trading process by offering real-time market data, analytical tools, and the ability to execute trades with just a few taps.
At their core, forex trading apps function by connecting users to the global currency markets through secure and user-friendly interfaces. They allow traders to monitor currency pairs, track market trends, and execute trades instantly, regardless of location.
Most forex trading apps offer a range of features, including customisable watchlists, price alerts, and technical analysis tools to help traders make informed decisions. Additionally, the apps provide access to educational resources and market news to help users stay informed about the latest developments anywhere, anytime.
Behind the scenes, these apps rely on sophisticated algorithms and high-speed connections to ensure rapid execution of trades and accurate pricing information. Some apps also offer advanced order types and risk management tools to help traders mitigate potential losses.
How To Choose the Right Forex Trading App in the UK
Choosing the right forex trading app in the UK can play a crucial role in your success as a trader. With numerous options available, it is crucial to evaluate several key factors to ensure you make the right choice for your trading needs. Here are some essential considerations to help you find the best forex trading app UK.
Regulatory compliance is paramount in the forex market to safeguard traders’ interests. A reputable regulatory body like the Financial Conduct Authority (FCA) ensures that brokers adhere to strict standards regarding capital adequacy, client fund segregation, and fair trading practices. Choosing a regulated app guarantees that your funds are secure and that you’re trading on a transparent and trustworthy platform.
The trading platform serves as your gateway to the forex market, so choosing one that meets your needs is essential. Look for features like intuitive navigation, customisable layouts, advanced charting tools, and seamless order execution. It’s also important that the platform functions well on mobile devices for those who want to manage their trades while on the move.
Trading fees can significantly impact your profitability, especially if you trade frequently. Assess the fee structure, including spreads, commissions, overnight financing charges, transaction costs, and other charges. Choose a broker with a fee structure that suits your trading style and budget to help you manage expenses effectively and enhance your overall trading experience.
Reliable customer support is invaluable, especially when you encounter issues or face technical difficulties. Choose a forex trading app that provides multiple support channels, such as live chat, email, and phone support. Ensure the support team is responsive and knowledgeable, ready to offer solutions to any problems you might face.
Accessibility to diverse payment methods simplifies the funding and withdrawal process when trading forex in the UK. Ensure the app you select supports popular payment options like bank transfers, credit/debit cards, and e-wallets, with swift transaction processing and minimal fees. Additionally, verify the security measures in place to protect your financial information and transactions.
Choosing a forex trading app with a diverse range of tradable assets helps with portfolio diversification. Look for an app that offers not just forex, but also stocks, indices, ETFs, commodities, cryptocurrencies, and more. This variety allows you to take advantage of different market opportunities and better manage your risk.
Demo accounts offer a risk-free environment for practising trading strategies and familiarising yourself with a platform’s features. Therefore, the best app for forex trading should provide access to demo accounts with virtual funds, real-time market data, and full functionality. Utilise this feature to hone your skills, test different strategies, and gain confidence before transitioning to live trading.
User reviews and recommendations provide valuable insights into an app’s performance, reliability, and overall user experience. To gain a comprehensive view of an app’s reputation, research feedback from well-regarded platforms such as Google Play, the App Store, and Trustpilot. These reviews can reveal key information about the app’s stability, execution speed, customer service quality, and transparency in pricing and policies. Pay close attention to recurring themes in user feedback to identify any common issues or strengths.
Read about the best automated trading platforms in the UK and How to start trading options in the UK in our other articles.
What are the Risks of Using a Forex Trading App?
Engaging in forex trading necessitates a firm grasp of its dynamic nature, which involves trading currency pairs and substantial market volatility, leading to potential gains as well as losses. Before entering the forex market, crafting a well-defined trading strategy and establishing a robust risk management plan to safeguard your investments is essential.
Moreover, exercising caution is imperative, as there is a risk of encountering forex broker scams and unregulated platforms. Since this market operates 24/7, always invest with what you can afford to lose. Plus, stay informed about market developments and continuously educate yourself to make well-informed trading decisions.
Remember that past performance does not indicate future results, and there are no guarantees of profit in forex trading.
While forex trading apps offer convenience, they expose traders to market volatility. The forex market is notoriously unpredictable, with prices fluctuating rapidly due to various factors such as economic indicators, geopolitical events, and central bank decisions. Traders using mobile apps should be prepared for sudden price movements that can result in significant gains or losses, especially when trading with leverage.
Moreover, the lack of regulation in some forex trading apps poses a substantial risk to traders. Unregulated apps may engage in unethical practices such as price manipulation, stop hunting, or even refusing to process withdrawals. Traders must conduct thorough research and choose apps regulated by reputable authorities to ensure their funds are protected, and trading conditions are fair.
Additionally, cybersecurity threats loom large in the digital age. Trading via mobile apps exposes traders to the risk of hacking, phishing, and malware attacks. Unauthorised access to trading accounts can lead to theft of funds or identity theft. To mitigate these risks, traders should use strong passwords, enable two-factor authentication, and avoid accessing trading accounts on public Wi-Fi networks.
Lastly, traders should be mindful of the psychological aspects of trading. The convenience of trading on a mobile app can lead to overtrading, where traders execute too many trades impulsively. It’s essential for traders to maintain discipline, stick to their trading plan, and avoid making decisions based on emotions or short-term market fluctuations.
How To Register a Forex Trading App Account
Using a forex trading app UK is straightforward once you know the steps involved. If you are a beginner, follow these steps to register your account and start your trading journey.
Start by comparing and testing various apps in the UK to find the one that best suits your needs. You can refer to our recommendations above, as they have undergone multiple tests and comparisons. Before registering, familiarize yourself with the app’s terms and conditions. Most importantly, install the app on your mobile device to easily manage your forex trades anytime.
After installing the app, It is time to create a trading account. For ease, we advise you to use its web version on your desktop device. On the registration page, enter your personal details such as your name, email address, phone number, and date of birth. You should also create a username and a strong password to secure your account.
Many forex trading apps in the UK require account verification to comply with the FCA regulatory requirements and enhance security. Verification typically involves providing additional documentation to confirm your identity and address. Commonly accepted documents include a government-issued photo ID (such as a passport or driver’s licence) and a recent utility bill or bank statement. Follow the app’s instructions to upload clear and legible copies of these documents. The verification process may take a few days to complete, so be patient and check your email or app notifications for updates on your verification status.
Once your account is verified, you will need to fund it to start trading. Navigate to the deposit section within the app, where you will find various payment methods available to fund your account. Common deposit methods include bank transfers, credit/debit cards, and electronic payment systems like PayPal or Skrill. Choose your preferred payment method and enter the deposit amount per the app’s minimum deposit requirement. Follow the prompts to complete the transaction securely.
With funds in your trading account, you are ready to start trading forex. Explore the app’s features, including real-time market data, customisable charts, and technical analysis tools, to identify trading opportunities. Choose currency pairs that align with your trading strategy and risk tolerance, and execute trades directly from your mobile device with just a few taps.
Since the forex market is unpredictable, monitor your positions closely and use risk management tools such as stop-loss and take-profit orders to mitigate potential losses. Stay informed about market developments and economic events that may impact currency prices, and adjust your trading strategy accordingly.
Best Forex Trading Indicators
Forex trading indicators are tools traders use to analyse market data and identify potential trading opportunities. These indicators are based on mathematical calculations applied to price, volume, or other market variables. They help traders make informed decisions by providing insights into market trends, momentum, volatility, and potential entry or exit points. Here are some of the most widely used forex trading indicators.
- Moving Average (MA) – As a smoothing mechanism, moving averages offer a clear view of price trends over a specified period. They’re akin to a steady hand guiding traders through market fluctuations, often signalling potential trend changes with crossover patterns.
- Bollinger Bands – Think of Bollinger Bands as dynamic boundaries enclosing price action. These bands expand and contract based on market volatility, helping traders identify overbought or oversold conditions and anticipate potential price breakouts.
- Parabolic SAR – Parabolic SAR is like a beacon at night, providing traders with potential stop-loss levels that dynamically adjust based on market conditions. It trails price action, flipping from above to below the price to signal potential trend reversals.
- Stochastic – Stochastic oscillators pinpoint potential trend reversals or continuations by comparing an asset’s closing price to its price range over a specified period. Traders utilise stochastic signals to gauge market momentum and identify entry or exit points.
- Average True Range (ATR) – ATR is a gauge for market volatility, measuring the average price range over a specific period. Traders rely on ATR to set stop-loss levels, adjusting them according to current market conditions to manage risk effectively.
- Moving Average Convergence/Divergence (MACD) – MACD is a versatile momentum indicator that tracks the relationship between two moving averages. Its signal line crossovers serve as valuable insights into shifts in market momentum and potential trend reversals.
- Fibonacci Retracements – Drawing on the mystical Fibonacci sequence, these retracement levels unveil potential support and resistance zones based on key Fibonacci ratios. Traders use them to pinpoint entry and exit points, harnessing the power of natural market retracements.
- Relative Strength Index (RSI) – RSI assesses the strength of recent price movements to determine overbought or oversold conditions. It offers traders valuable insights into potential reversal points and market sentiment shifts.
- Pivot Point – Pivot points serve as pivotal landmarks in the trading landscape, offering traders reference points for potential support and resistance levels. They are calculated based on the previous day’s high, low, and closing prices, guiding traders in mapping out potential price movements.
- Ichimoku Cloud – The Ichimoku Cloud offers a holistic view of market trends, support and resistance levels, and potential entry and exit points. Traders navigate its layers to understand market conditions and make informed trading decisions.
Pros and Cons to Trade Forex with Trading App
Forex trading apps offer convenience and accessibility, but they come with their own set of advantages and limitations. Here’s a breakdown of the pros and cons:
Pros
- Forex trading apps allow you to access the currency market anytime, anywhere.
- With them, you can execute trades instantly, taking advantage of market opportunities as they arise.
- The apps make forex trading accessible to a broader range of traders, including those who may not have access to desktop computers or traditional trading platforms.
- Many forex trading apps offer intuitive interfaces that are easy to navigate.
- They often come with built-in alert features that notify traders of significant market events or price movements.
Cons
- Trading apps may offer fewer features than desktop trading platforms, limiting the depth of analysis and trading options available to traders.
- The smaller screen sizes of mobile devices can make it challenging to analyse charts and perform detailed technical analyses.
- Mobile devices are more susceptible to security risks, such as hacking or malware attacks. If proper security measures are not in place, traders’ personal information and funds are at risk.
FAQs
Yes. Forex trading is legal in the UK, and many traders are making profits from the activity. However, you need a solid plan and strategy to succeed. For instance, it is best to trade with forex brokers licensed and regulated by the Financial Conduct Authority (FCA). This is the only legal way to trade in the UK, and using unregulated and unlicensed brokers makes you vulnerable to getting scammed. In addition, ensure you fully understand how forex trading works, and you can use the available research and analysis tools to create the best strategy. Most importantly, you must also be at least 18 years old to start investing in forex.
Yes. Forex in the UK is considered a business venture, and for this reason, any profits you make trading forex, except those you earn from spread betting, must be taxed. The reason spread betting is not taxed in the UK is that it is classified in the gambling category. That being said, before you start trading forex, confirm your tax requirements to avoid unnecessary conflicts with the federal government. This also applies when trading other securities, including stocks, commodities, cryptocurrencies, etc.
Many forex brokers in the UK, including our recommended ones, have a minimum deposit requirement of as little as £100. While you have a chance of earning profits trading forex with £100, we advise you to familiarise yourself with how forex trading works before you deposit your real funds. The easiest way to do so is through their risk-free demo accounts.
To start trading with £100, ensure you find a forex broker that aligns with your trading budget. Consider the minimum deposit requirement and other charges, including commissions, spreads, deposit and withdrawals fees, etc.
First, you need to be at least 18 years old and learn how the currency market works, including all the risks. Then, choose the best forex broker that complements your trading requirements, whether regarding charges, security, asset offerings, and more. In addition, use brokers’ demo accounts to practice what you already learned and test the broker’s reliability. Once you clear all the doubts, sign up for a real account where you will be required to trade with real funds.
We advise you to start investing with small cash and increase the amount as you become more strategic. Remember, trading is risky, and while you can earn good profits, you are also likely to lose your investment funds.
It’s a no-brainer that trading forex as spread betting is not taxable because spread betting is classed as gambling. However, all the forex trading profits you make during the tax year must be charged as capital gains tax. Keep in mind that the tax rates vary based on your taxable income. Therefore, ensure you confirm if you are a basic or higher rate taxpayer before paying your income gains taxes.
Although it is possible to trade forex without a broker, the process is not as easy as you think it might be. First, you will need to find the best licensed and regulated forex broker that will allow you to access various tradable markets. Luckily, this page recommends top brokers for not only forex trading but for other assets, including CFDs, stocks, commodities, cryptocurrencies, etc. All you need to do is choose one based on your trading requirements. If you are a beginner, start forex trading using demo accounts, as you do not want to start investing your money without fully understanding the market and your capabilities.
Read about the NinjaTrader brokers in the UK and Penny stock brokers in our other articles.
Conclusion
As technology advances, the demand for forex trading apps in the UK is on the rise. Fortunately, TradingGuide provides top recommendations for the best apps available in the market. These apps have been rigorously tested to ensure they meet safety standards and suit your investment needs.
For beginners, choosing the right app can set the stage for a rewarding trading experience. Utilize the demo accounts offered by our recommended apps to practice and build confidence before transitioning to live trading. To manage risks effectively, use stop-loss and take-profit orders, and keep track of your trade performance to make informed decisions in this dynamic market.
How we test?
Our test process is really based on two different aspects: our independent tests and research, as well as user reviews from Google Play, the App Store, and Trustpilot, etc.
The first thing we do when testing is to check every detail and test every tool and instrument. Our experts spend more than 200 hours on every article. We pay special attention to the specific function or the criteria that we’re comparing during the comparing stage. This means that we must determine which broker is more suited for beginners, and which is better suited for experts, for example. Find out more about our test process here.
Does eToro really free? Can I open an account for free?
eToro is not free but it doesn’t cost anything to register an account. In order to get full access to your account you have to fulfil the minimum deposit requirement. You will also be paying spread (as a trading fee) as well as a few non-trading fees.
With that being said, eToro is completely commission-free.
Which Forex broker is the best for depositing a large amount of money?
eToro
I trading with this broker more than 3 years, it is safe and the best for depositing a large amount of money
You need to choose your online broker carefully. Getting the best forex broker for your investment strategy is half the road to making money on the stock market. Take the time to check whether the forex broker FCA regulated, look at the types of stock exchange accounts offered, the commissions and spreads, the support available and the training offered. Remember, you are not going to make money on the stock market with a forex scam broker. You are going to waste your money more than anything else.
Stumbled upon this cool article about forex trading. It covers trade apps, registration steps, and even dives into indicators. It's straight-up useful, no fluff. Highlights the risks, so you don't mess up. If you're into trading or just starting, it's a solid read. Check it out, mate!
Impressive guide on selecting the best UK forex trading app! Detailed analysis of licenses, platform, fees, and customer support is invaluable. Emphasis on securing investment capital through regulated brokers is crucial. The step-by-step registration process is user-friendly. Warnings about risks and scams are vital. Overall, a cool sidekick for UK forex, blending research and user reviews. Gonna check out those recommended apps, play around with demos.
This article revealed an important question for me: is it possible to trade Forex without a broker. It clearly explained that while this is technically possible, having a licensed broker will make the process much easier. The article recommends the best brokers suitable not only for Forex but also for trading various assets. Recommending the use of demo accounts for beginners adds a practical side to the learning curve. A very informative and useful article for me, as I am interested in Forex trading.
Great list! As a fellow UK trader, I've tried a few of these apps and they're all solid options. I'm particularly interested in the Admiral Markets app, as I've heard great things about their charting capabilities. Thanks for sharing!