Best Forex Trading Apps in the UK

Today, almost every forex broker has a mobile trading app to accommodate clients of all types. Recently, there is a large number of mobile users entering the markets and placing their orders on their phones. It is more essential than ever for a forex broker to provide a customary mobile application for both Android and iOS users. But which brokers provide the best forex trading apps in the UK?

 

In this review, we are going to attempt to answer that question. We are going to specifically look at the offering by the broker and their mobile application. So buckle up as we look at some of the best forex trading apps in the UK.

eToro

eToro provides clients with its own in-house-built eToro trading app. This trading app is available on Google Play as well as on Apple’s App Store. Notably, the application has a high rating on both of these platforms with a 4.2-star rating on App Store and 4.1 on Google Play. It provides clients with powerful investing tools, like ProCharts, that let clients easily view valuable market research at a glance.

 

Additionally, the eToro mobile app allows clients to be part of a collaborative community through its CopyTrader technology. Here, traders can connect, engage, and share trading strategies with others. This feature also allows clients to replicate the moves of top-performing investors automatically. This can save some traders time and potentially help beginners make winning trades.

 

 

With the eToro app, clients can diversify their portfolios by investing in multiple markets at the same time. They have access to CFDs on forex, commodities, ETFs, and indices. They can also purchase real stocks and cryptocurrencies, giving them an opportunity to diversify their portfolios. The charges for trading on eToro are fairly low with spreads starting from 1.0 pips for major currency pairs.

 

On another positive note, eToro is one of the most heavily regulated brokers in the market today. In the UK, the broker is regulated by the Financial Conduct Authority (FCA) under the firm reference number 583263. On top of that, the company is under the regulation of the SEC, the FINRA, and the FinCEN in the US, the CySEC in Cyprus, and the ASIC in Australia.

 

 

51% of retail CFD accounts lose money

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Forex.com

Forex.com is yet another broker with a mobile trading app on both the App Store and Google Play. This application is intuitive enough with one-swipe forex trading. It also has advanced charting, real-time news, performance analysis, SMART signals, and more. Traders can test out this application with a free demo account with $50,000 in virtual funds.

 

For UK clients, there are over 5,500 different instruments available for trading, all of which are CFDs. These include assets in the forex, stocks, commodities, indices, cryptocurrencies, and precious metals. Better yet, they can have the Great British Pound as their account base currency.

 

 

The pricing for trading on Forex.com depends on the account a client is using. The spreads on the standard account can go as low as 0.8 pips for major currency pairs. On the other hand, the Commission account and the Direct Market Access (DMA) account both charge a commission. The commission account features spreads starting from 0.2 pips and charges a commission of $5 per 100k traded. The DMA account charges different commissions depending on the trading volume of a client. For example, a trader with a trading volume of $0M – $100M per month would pay a commission of $60 per $1 million traded.

 

Finally, we must mention the regulations of this broker. In the UK, Forex.com is regulated by the FCA under company reference number 190864. Remarkably, the company is also under the regulation of the IIROC, the CySEC, the ASIC, the NFA, and the CFTC.

 

77.7% of retail investor accounts lose money when trading CFDs with this provider.

 

 

XTB

The XTB online Trading mobile app is available on Google Play but not on the App Store. Some of the features that come with this application include advanced charts, a trader’s calculator, price alerts, and market news and analysis. Together, these features can assist investors to make better trading decisions and improve their trading strategies.

 

Additionally, this mobile app gives clients access to over 2,100 trading instruments. This includes CFDs on forex, indices, commodities, equities, cryptocurrencies, and ETFs. With access to six different global markets, clients can greatly diversify their portfolios. Typical spreads on this trading platform can fall as low as 0.5 pips for major currency pairs on the standard account.

 

 

As we only present regulated brokers, let’s see how XTB is regulated globally. Well, traders would be happy to know that XTB’s activities are monitored by several reputable organizations. These include the FCA in the UK under reference number 522157, the CySEC in Cyprus, and the KNF in Poland.

 

77% of retail investor accounts lose money when trading CFDs with this provider.

 

 

 

Interactive Brokers

The IBKR Mobile app allows traders to gain access to various global markets including the forex, futures, stocks, options, cryptocurrencies, US Spot gold, and ETFs. In total, there are over 150 markets to buy and sell.

 

To support traders on their journey, the IBKR app comes packed with a plethora of features. These include the BookTrader trading tool, real-time market scanners, real-time alerts, access to trade reports, and more. As Interactive Brokers is one of the best ECN brokers in the market, it promises clients fair and competitive pricing. Moreover, clients can use its SmartRouting technology to search for the best prices available and re-route part of all of their orders for the best execution.

 

Interactive Brokers primarily makes its money through commissions that traders pay. The commission depends on the market instrument a client is investing in and can range from $16 to $40 per million traded. As mentioned, clients can reduce the fees they pay by using the company’s SmartRouting technology.

 

Finally, let’s look at how this broker is regulated in various jurisdictions. The company operates under the supervision and regulation of the FCA in the UK under reference number 208159. Additionally, it has regulations by CFTC and the SEC in the US, the IIROC in Canada, and the ASIC in Australia.

IG

IG is one of the most versatile forex brokers in the world today. The broker allows clients to trade CFDs on forex, shares, commodities, indices, options and more on its state-of-the-art trading app. This app gives clients access to interactive charts, a range of technical indicators, and the ability to search for upcoming events and receive live news. In total, this application gives clients access to over 17,000 trading instruments.

 

Notably, IG is one of the brokers clients can use for weekend trading. With this broker, clients can trade some currency pairs even when the currency market is closed. This can give clients an edge as they do not have to take breaks over the weekend. Additionally, IG promises its clients some of the lowest spreads in the market. Typical spreads on IG can fall as low as 0.6 pips for some major currency pairs.

 

In terms of regulations, IG is a fully regulated company in the UK. It is under the supervision of the FCA under the company reference number 195355. IG is also under the regulation of the ASIC, the BaFin, and the FSCA. Regulations alone are not enough but are always a good sign when a company has regulations from several reputable organizations.

Pepperstone

Pepperstone is yet another reputable broker that offers a quality trading app to its clients. With the Pepperstone cTrader app, clients get Direct Processing (STP) and a No Dealing Desk platform. They also get sophisticated technical analysis tools including 65 popular technical indicators. Further, the application features price alerts, trade statistics, session management, and a symbol watchlist. With the market sentiment indicator, clients get insight into how other people are trading.

 

 

Better yet, clients have access to live news sources that inform them about events that may affect their trading. This is one of the reasons why we included Pepperstone among our selections for some of the best ECN brokers for news trading. Clients will be able to trade a variety of market instruments including CFDs on forex, indices, commodities, ETFs, shares, and currency indices. In total, there are over 1,200 CFDs to invest in.

 

As always, only regulated brokers ever make it to our lists. Well, luckily, Pepperstone is regulated in the UK by the FCA under reference number 684312. It is also regulated by BaFin in Germany and the ASIC in Australia.

Tickmill

With the Tickmill app, the company promises ultra-fast execution and all trading strategies supported including EAs, hedging, and scalping. The company also promises features for account management including complete transaction histories and live chat support. Clients can choose to trade with the CQG version of the app or the MT4 version.

 

Either way, clients have access to CFDs on forex, stock indices, metals, bonds, commodities, and cryptocurrencies. In total, there are over 180 trading instruments provided by Tickmill. The charges for trading these instruments are competitively low with spreads starting from 0.1 pips for major currency pairs.

 

Finally, let's look at how Tickmill is regulated. The operations of this broker are under the supervision and regulation of the FCA under license number 717270. Tickmill is also under the watch of the CySEC and the FSCA.

CMC Markets

We are closing out our list of some of the best forex trading apps in the UK with CMC Markets. This broker is regulated in the UK by the FCA under reference number 173730. It is also regulated by BaFin in Germany.

 

CMC Markets ensures clients have access to their portfolios at the palm of their hands through its mobile trading app. This app comes with mobile-optimised charts to analyse price actions. It also comes with a range of technical indicators, alerts for prices and breaking news, and an in-app education hub. These features are in place to support traders on their journey and potentially improve their trading strategies.

 

With this application, clients can speculate on various CFD markets including forex, shares, commodities, indices, and treasuries. They can invest in various markets on the go, all at once. The company promises the best pricing when trading these instruments. The spreads on forex currencies are variable and can go as low as 0.7 pips for major currency pairs.

Closing Remarks on Best Forex Trading Apps in the UK

Providing a mobile trading app by a forex broker is essential in this day and age. Today, more and more people use their mobile phones as their main computing devices. This has led to many new trades entering financial markets primarily on their phones. To accommodate these traders, forex brokers have moved to provide state-of-the-art trading applications with many features. Furthermore, veteran traders also use their phones to place orders when it is best convenient.

 

Nonetheless, providing a mobile application is not the only thing that makes a forex broker worth investing with. In this review, we considered only reputable brokers with regulations and competitive trading conditions. We also made sure to pick brokers whose mobile apps have good ratings on Google Play or the App Store. As you do your research to pick a broker of your choice, remember that this is not an exhaustive list. It is, however, a great place to start.

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