AuthorBy Chris Cammack
Updated: April 13, 2021

Forex trading apps give Forex traders a way to research, open and close trades from a mobile device. While some aspects of mobile trading like screen size and limited functionality can be cumbersome, the most important trading features are available in mobile applications. Forex trading apps are always free, but each will offer different features and functionality. Most traders who use a mobile device for trading will do so when travelling or away from a desktop trading application. 

To test these mobile apps, we downloaded and installed them on Android and IOS devices and connected our live trading accounts. While trading on the mobile apps, we tested the platform stability, execution speed, and functionalities to understand the experience a trader should expect when using the app. According to our testing and our research, these are the best Forex trading apps in Australia for 2021.

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Best Forex Trading Apps 2021

Last updated on 13 Apr 2021
Updated 13 Apr 2021
by Editorial Director Chris Cammackby Chris Cammack
Chris Cammack
All Brokers Regulated
All Brokers Regulated
by Trusted Authoritiesby Trusted Authorities
Trusted
1
FP Markets
Min. Deposit
USD 100
4.174.17
Min. Spread
0 pips
REGULATED BY
Trading Desk Type
Overall Rating
11110.54.17/ 5
AlertAccepts Australian Clients. Average spread EUR/USD 0.10 pips with 6 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & IRESS platforms supported. FP Markets is regulated by CySEC and ASIC.
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FP Markets is a leading ASIC-regulated broker, providing tight spreads on their RAW account, coupled with the choice of MT4, MT5 and IRESS trading platforms. A standard commission-free account is available for entry-level traders looking for a lower minimum deposit.

Relative to other Forex brokers, FP Markets has made a serious investment in new traders with award-winning customer service and a lightweight education section, which includes daily email updates of the latest financial news impacting the currency markets.

Pros
  • Well regulated
  • Tight spreads
  • Good range of accounts
  • Great customer support
Cons
  • Expensive withdrawals
Read More About FP Markets
2
Black Bull Markets
Min. Deposit
USD 200
3.423.42
Min. Spread
0.20 pips
REGULATED BY
Trading Desk Type
Overall Rating
1110.503.42/ 5
AlertAccepts Australian Clients. Average spread EUR/USD 0.80 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. Blackbull Markets is regulated by the FMA & the FSA-Seychelles.
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Founded in New Zealand in 2014, BlackBull Markets is an ECN-only broker providing direct market access on the MT4 platform. Average spreads are unpublished, though start at 0.1 pips on the commission-based account. The commission-based accounts have high minimum deposits and educational material and market analysis are weak compared to similar brokers. BlackBull are well regulated by the New Zealand FMA and professional traders will be interested in the free VPS and FIX API service.

Pros
  • Tight spreads
  • Good for beginners
  • Wide range of assets
Cons
  • Expensive withdrawals
  • Limited market analysis
Read More About Black Bull Markets
3
Pepperstone
Min. Deposit
USD 200
4.514.51
Min. Spread
0 pips
REGULATED BY
Trading Desk Type
Overall Rating
11110.54.51/ 5
AlertAccepts Australian Clients. Average spread EUR/USD 0.09 pips with 7 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & cTrader platforms supported. Pepperstone is regulated by the FCA, ASIC, and the DFSA.
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Pepperstone is a renowned Australian Forex broker, fully-regulated by ASIC and popular worldwide for its fast ECN execution of trades, tight spreads and a wide choice of trading platforms. Award-winning 24-hour support anchors their customer support, where a personalised service for individual customers is available through numerous channels.

Founded in 2010, Pepperstone won the fastest-growing company award (2014) in Australia, from BRW Magazine and emerged as the 2014 Winner of the Governor of Victoria Export Awards cementing their reputation as a strong newcomer with well-appreciated trading conditions.

Pros
  • Well regulated
  • Tight spreads
  • Great platform choice
  • Wide range of assets
Cons
  • High minimum deposit
  • Limited market analysis
Read More About Pepperstone
4
eToro
Min. Deposit
USD 200
3.693.69
Min. Spread
1 pips
REGULATED BY
Trading Desk Type
Overall Rating
1110.503.69/ 5
AlertAccepts Australian Clients. Average spread EUR/USD 1 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. Only eToro proprietary trading platform supported. eToro is regulated by CySEC, FCA, and ASIC.
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eToro is a world-famous internationally and ASIC-regulated CFD broker offering clients a unique experience trading Forex, stocks, commodities, cryptocurrencies, ETFs and indices. While eToro’s main attraction is a bespoke crowd trading platform built to encourage clients to follow expert traders or select market strategies, their trader community is continually let down by inadequate disinterested customer support and tortuously long response times.

eToro has a reduced minimum deposit to 50 USD for all Australian clients, making the platform more appealing to entry level traders. Upon sign up, eToro’s clients become part of a massive community of traders all following expert traders or professional traders contributing to their social trading platform. 

For the most part, the trading conditions at eToro align with other market makers with a unique platform offering, but in contrast, eToro has numerous non-trading fees on both deposits and withdrawals. All in all, a trader who is looking for a traditional trading environment eToro won’t find a fit. Still, for those looking for a strong copy trading platform, eToro wrote the book on copy trading and still stands out as the leader.

Pros
  • Well regulated
  • Good for beginners
  • Innovative trading tools
Cons
  • Limited education
  • Wide spreads
Read More About eToro
5
XM
Min. Deposit
USD 5
4.384.38
Min. Spread
0.60 pips
REGULATED BY
Trading Desk Type
Overall Rating
11110.54.38/ 5
AlertLeverage limitations apply to all the EU regulated entities of the group.
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XM Group lets traders deposit as little as $5 to open an account; offers 500:1 leverage, and has a generous bonus scheme for new accounts.  Fully regulated by ASIC, CySEC and the FCA, XM Group offers accounts to suit most traders including those interested in tight spreads and automated trading.

XM Group partners with investment-grade banks and uses segregated accounts to ensure security, your personal account manager ensures your satisfaction, and customer service is available 24/5, via live chat, email and in 30 languages.

Pros
  • Well regulated
  • Excellent education
  • Wide range of assets
  • Fast and free withdrawals
Cons
  • Dealing desk
Read More About XM
6
XTB
Min. Deposit
USD 5
4.144.14
Min. Spread
0.80 pips
REGULATED BY
Trading Desk Type
Overall Rating
11110.54.14/ 5
AlertAccepts Australian Clients. Average spread EUR/USD 0.50 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & xStation platforms supported. XTB Group is regulated by CySEC CySEC, FCA and the IFSC
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Well-regulated, safe and award-winning, XTB is a true leader in the Forex trading industry.

Joining other leading ECN/STP brokers with unbeatable trading conditions, excellent trader education and rock-solid analysis, XTB has also developed an award-winning proprietary trading platform that goes beyond MT4 to offer clients easy-to-use functionality with fast execution speeds.

Pros
  • Well regulated
  • Tight spreads
  • Low minimum deposit
  • Good for beginners
Cons
  • Limited platform choice
Read More About XTB
7
AvaTrade
Min. Deposit
USD 100
4.184.18
Min. Spread
0.90 pips
REGULATED BY
Trading Desk Type
Overall Rating
11110.54.18/ 5
AlertAccepts Australian Clients. Average spread EUR/USD 0.90 pips. Minimum initial deposit 100 USD. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. AvaTrade Group regulated by ASIC, FSCA, B.V.I FSC & FSA.
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Hugely respected worldwide, AvaTrade is one of the largest and best value brokers in the Forex industry. AvaTrade has built its reputation on providing a secure and innovative trading environment for beginner traders; it continues to add to that reputation with the recent addition of AvaProtect – an automated loss-protection tool – to its product lineup.

With support for the leading trading platforms and top-quality multilingual support, AvaTrade offers trading in Forex, commodities, cryptocurrencies, exchange-traded funds, options, bonds, and equities.

Pros
  • Good for beginners
  • Well regulated
  • Low minimum deposit
Cons
  • Dealing desk
  • Limited education
Read More About AvaTrade
8
easyMarkets
Min. Deposit
USD 25
3.983.98
Min. Spread
0.90 pips
REGULATED BY
Trading Desk Type
Overall Rating
1110.503.98/ 5
AlertAccepts Australian Clients. Average spread EUR/USD 1.80 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & the proprietary easyMarkets platform are supported. easyMarkets is regulated by CySEC, ASIC, and the FSA in Seychelles.
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EasyMarkets offers three simple account types, a 50% deposit bonus for new accounts up to $2000, and offers MT4 alongside its proprietary platform. EasyMarkets is fully regulated by CySEC, FSA and ASIC in Australia, ensuring compliance with the highest client protection standards. With a minimum deposit of $200, you can trade Forex, commodities, agriculture, metals and other stocks allowing a diversified portfolio of investments.

Customer accounts have a dedicated account manager, 24/5 customer support from their offices around the world, fast withdrawals and a stacked learning centre. EasyMarkets is one of our favourite online Forex brokers.

Pros
  • Well regulated
  • Wide range of assets
  • Innovative trading tools
Cons
  • Limited platform choice
  • Limited account options
Read More About easyMarkets
9
Plus500
Min. Deposit
USD 100
3.693.69
Min. Spread
0 pips
REGULATED BY
Trading Desk Type
Overall Rating
1110.503.69/ 5
AlertAccepts Australian Clients. Average spread EUR/USD 0.80 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. Plus500 proprietary platform support. Plus500 Group is regulated by FCA, CySEC, ASIC, and MAS. All information presented is verified as of the date of the review.Most retail CFD accounts lose money. Your capital is at risk.
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With 50+ Forex CFD pairs available, tight spreads and fast execution, Plus500 is a popular broker with both its new and long-standing customers.  Even though a lot of effort has been put into creating a user-friendly platform, CFDs are complex financial products, and thus the platform is not suitable for inexperienced traders.

Award-winning customer service is available 24/7 and the Plus500 platform is web-based with no need for any downloads or setup, making this a good provider for those starting out who want to keep it simple. 

Plus500 has one account with a 100 USD minimum deposit requirement and keeps simplicity at the core of its business.

Pros
  • Well regulated
  • Wide range of assets
Cons
  • Limited education
  • Limited account options
Read More About Plus500

How to Choose a Forex Trading App

Forex trading apps are all different, but the best apps will have fast trade execution speeds, comprehensive functionality, platform stability and the full range of assets to trade.

Fast Execution Speed: Fast execution speed is an essential feature of the best Forex apps. While execution speed still partially depends on the mobile device’s connection to the internet, the app itself mustn’t suffer any loss in execution speed when compared to the desktop version of the platform.

Full Functionality: Trading apps should match their desktop versions’ functionality and feel familiar to the desktop platform users. While charts on a mobile device will be less customizable than on a desktop, there should be some of the more popular custom indicators and common timeframes functions found on the desktop version.

Platform Stability: A stable iOS or Android trading app is an absolute necessity. Should your app crash while trades are open, you risk losing capital should the markets are move against your position. Platform stability is an absolute necessity and should never be compromised.


🏆FP Markets – Best Forex Trading App

FP Markets is a leading ASIC-regulated STP broker, providing tight spreads on their RAW Account, coupled with the choice of MT4, MT5 and IRESS trading platforms. The FP Markets Trading App is a proprietary mobile trading platform that incorporates the best of MT4 and MT5 in an easy-to-use and intuitive trading experience. The feature-packed trading platform is available on all iOS and Android devices.

Use the FP Markets Trading App to CFDs across shares, indices, commodities, futures, cryptocurrencies, and 60+ currency pairs. One-click trading is available in-app, alongside advanced market analysis using charting tools and a range of technical indicators. The app is fully customisable to suit the preferences of all experience levels of trader.

AlertAccepts Australian Clients. Average spread EUR/USD 0.10 pips with 6 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & IRESS platforms supported. FP Markets is regulated by CySEC and ASIC.

🏆BlackBull Markets – Best Apps at a ECN Broker

BlackBull Markets is an ECN-only broker providing direct market access on the MT4 platform. With tight ECN spreads and Equinix servers providing lightning-fast execution, BlackBull Market’s MT4 app is ideal for scalping and automated trading.

The BlackBull Markets MT4 platform is available for free on Android and iOS. Both applications are natively designed for their operating systems and provide the full functionality of the MT4 platform, enabling clients to trade remotely without missing features from the desktop platform. BlackBull Markets MT4 app provides a full set of orders, technical analysis capabilities, interactive charts, and automated trading functionality.

AlertAccepts Australian Clients. Average spread EUR/USD 0.80 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. Blackbull Markets is regulated by the FMA & the FSA-Seychelles.

🏆Pepperstone – Best App Trading Platforms

Pepperstone is an Australian ECN broker known for tight spreads, ultra-fast trade execution, full support for all major platforms; MT4, MT5 and cTrader – and downloadable apps for iOS and Android for all three. The mobile versions of all platforms are freely available and natively designed for Android and iOS on tablets and mobile phones.

Most trades on Pepperstone have execution in less than 30ms, which is ideal for scalpers and clients who run expert advisors. Pepperstone offers two market execution accounts with some of the tightest spreads in the industry – the Razor Account has spreads down to 0 pips for the EUR/USD and a 7 USD commission. Spreads on the mobile applications are identical to their desktop counterparts. 

AlertAccepts Australian Clients. Average spread EUR/USD 0.09 pips with 7 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & cTrader platforms supported. Pepperstone is regulated by the FCA, ASIC, and the DFSA.

🏆eToro – Best App for Social Traders

eToro is the creator of the social trading system and remains the leading social trading broker. The innovative trading platform is designed for mobile devices, making the trading experience smooth and simple. Many of the complex trading features found on other platforms like MetaTrader and cTrader are either removed or blended into the trading experience more naturally. 

This point-and-click platform for iOS and Android is perfect for beginners and needs less introduction before opening trades. It makes copying other eToro user’s trades straight from the social feed is a simple process. eToro users enjoy zero commission, and eToro offers access to over 90 crypto and cross-crypto pairs. 

AlertAccepts Australian Clients. Average spread EUR/USD 1 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. Only eToro proprietary trading platform supported. eToro is regulated by CySEC, FCA, and ASIC.

🏆XM – Fastest Execution Speed

XM is a well-regulated broker supporting MT4 and MT5 native XM apps with three account types: A Micro Account, Standard Account and a commission-based XM Zero Account with super-tight spreads. Each account offers tight spreads, with the EUR/USD starting at 1.6 pips on the Micro and Standard Account. The XM Zero Account has spreads down to 0.1 pips with a commission of 7 USD round trip. For beginners, education and research are some of the best globally.

Well-known for its execution speed, over 99% of trades are executed in less than a second with a 100% execution rate and no re-requotes or rejections of orders.

AlertLeverage limitations apply to all the EU regulated entities of the group.

🏆XTB – Best Regulated Forex Broker

Publishers of the award-winning xStation trading app XTB have successfully incorporated many of its desktop xStation platform features into the mobile app, which offers traders access to over 1,500 CFD markets. With a smooth and intuitive design, the transparent charts (available horizontally) allow clients to track market movements accurately.

Mobile traders can access XTB’s award-winning market analysis and market sentiment from inside the app. Analysis can be filter the instrument classes and set favourites. The xStation app’s layout is fully customisable, and traders can even choose between light and dark mode, saving battery and keeping clarity.

AlertAccepts Australian Clients. Average spread EUR/USD 0.50 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & xStation platforms supported. XTB Group is regulated by CySEC CySEC, FCA and the IFSC

🏆AvaTrade – Best Bespoke Forex Trading App

AvaTrade has the best bespoke Forex trading app. Its flagship mobile app is called AvaTradeGo and was voted the Best Forex Trading App in 2020 at the Global Forex Awards. AvaTradeGo provides a stable trading experience with an advanced dashboard, with intuitive management tools, clear charts, zoom for details, and a Market Trends feature to monitor trading trends within the AvaTrade community.

AvaTrade’s newest tool, AvaProtect, is available on AvaTradeGo. AvaProtect allows traders to purchase loss-protection, which acts as trade insurance for a time. Any losses during that time are fully refunded, but any gains are the traders to keep.

AlertAccepts Australian Clients. Average spread EUR/USD 0.90 pips. Minimum initial deposit 100 USD. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. AvaTrade Group regulated by ASIC, FSCA, B.V.I FSC & FSA.

🏆EasyMarkets – Best Education and Tools

easyMarkets states its values as simple, honest, and transparent. True to form, the easyMarkets trading app enshrines these values with a modern, simple, and accessible platform for beginner traders.

The easyMarkets trading app is designed for new traders and features an extensive list of tools offered by easyMarkets. Tools offered are the unique Freeze Rate and dealCancellation and tools intended to help new traders manage their risk. Freeze Rate allows traders to freeze a price for a few seconds in a volatile market, while dealCancellation lets traders cancel a trade either one, three or even six hours after the trader opened it.

AlertAccepts Australian Clients. Average spread EUR/USD 1.80 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & the proprietary easyMarkets platform are supported. easyMarkets is regulated by CySEC, ASIC, and the FSA in Seychelles.

🏆Plus500 – Best for Non-Forex CFDs

Plus500 is a leading CFD provider mainly due to the intuitive nature of its mobile platform, appealing trading conditions and over 2000 non-Forex CFDs, including Shares, Indices, Cryptocurrencies, Commodities, ETFs, and Options. Spreads are competitive across all instruments, and trading is always commission-free. 

The Plus500 app has the same functionality as the web platform, and traders will find it intuitive to grasp and feature-rich. Traders can use the app’s advanced order types, sentiment indicators and price alerts to stay on top of the market, even when on the move. 

AlertAccepts Australian Clients. Average spread EUR/USD 0.80 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. Plus500 proprietary platform support. Plus500 Group is regulated by FCA, CySEC, ASIC, and MAS. All information presented is verified as of the date of the review.Most retail CFD accounts lose money. Your capital is at risk.

Which is the best Forex trading App?

AvaTrade has the best Forex trading app. Its flagship mobile app is called AvaTradeGo and was voted the Best Forex Trading App in 2020 at the Global Forex Awards. AvaTrade has invested a lot of time and money into AvaTradeGo and the results are clear.

AvaTradeGo was voted the Best Forex Trading App 2020 at the Global Forex Awards

AvaTradeGo provides a smooth trading experience with a sophisticated dashboard, complete with a set of intuitive management tools, clear charts, zoom for details, and many more helpful features unique to this app.

What are the advantages of Forex Trading Apps?

The advantages of the best Forex trading apps are the convenience, mobility, and quick response time they provide for traders.

Convenience

Before smartphone trading apps, Forex traders had to close all their positions when they left their desk and accessing Forex news and data was difficult.

With a trading app, you can keep trading when you leave your desk

But now all aspects of Forex trading can be achieved via a trading app. Most apps will allow you to open and close positions, use advanced charting to analyse the market and keep abreast of breaking news and economic data that affect the markets.

Mobility

While Forex trading apps are convenient, they also allow traders to continue all aspects of Forex trading while on the go.

With a trading app, you can track your positions, even when you are out shopping

Whether you are commuting to work on a train, or walking down the street to go shopping, you can keep track of your positions and the market movements.

Response Time

Trading apps also allow you to respond to market movements in an instant.

Trading apps allow traders to respond to market movements in an instant

Rather than having to wait until you are at your PC to take advantage of price movements, you can open or close an order immediately with the tap of your screen.

What are the disadvantages of Forex Trading Apps?

Small screens, distractions while you are on the move, slow execution speed and the potential for overtrading are all disadvantages of mobile trading that you should be aware of.

Screen size

Professional traders use two monitors with multiple charts and often hold numerous open trades. You cannot do this on a small mobile screen without the risk of missing important details.

Mobile traders should be aware of the charting limitations on their app

Mobile traders should try to limit the number of open trades and be aware of the charting limitations on their trading app

Distractions 

Mobile devices are designed to be with you when you are doing other things. Trading while you are doing other tasks can be a dangerous game.

Trading when you are doing other tasks is a dangerous game

If you are trading on a mobile device, make sure that you have taken the time and space to judge your trading decisions before following through.

Man on phone on street

Execution Speed

While execution speeds on the best mobile trading apps are good, you should not use them for scalping. Mobile networks are getting faster all the time, but there will always be a delay relative to a desktop trading environment.

Overtrading

Often, the best move when trading is to do nothing – especially when you are on the move and without access to the tools and charts you have at your desk. With the convenience of a mobile trading app, there is the danger that you will be tempted to trade too often, and in ways that you would not normally do when at your desk.

Final Word

Forex trading apps are a useful addition to a trader’s toolbox but should never be used as a replacement for a desktop platform.

Mobile trading apps are not a replacement for a desktop platform

While their convenience is undeniable, there is just too much space for distraction and overtrading while on a mobile device.

The best Forex trading apps can achieve some of the aspects of the best trading platforms but will never be able to match a desktop platform for analysis and execution speed.

Forex Risk Disclaimer

Trading Forex and CFDs is not suitable for all investors as it carries a high degree of risk to your capital: 75-90% of retail investors lose money trading these products. 

Forex and CFD transactions involve high risk due to the following factors: Over-leveraging, unpredictable market volatility, slippage arising from a lack of liquidity, inadequate trading knowledge or experience, and a lack of regulatory protection for clients.

Traders should not deposit any money that is not disposable. Regardless of how much research you have done, or how confident you are in your trade, there is always a substantial risk of loss. (Learn more from the FCA or from ASIC)

Our Methodology

Our State of the Market Report and Broker Directory are the result of extensive research on over 100 Forex brokers. The explicit goal of these resources is to help traders find the best Forex brokers – and steer them away from the worst ones – with the benefit of accurate and up-to-date information.

With over 150 data points on each broker and over 3000 hours of research and review writing, we believe we have succeeded in our goal. 

In a world where trading conditions and customer support can vary based on where you live, our broker reviews focus on the local trader and give you information about these brokers from your perspective.

All research has been conducted by our in-house team of researchers and writers, gathering information from various company representatives, websites and by sifting through the fine print. Learn more about how we rank brokers

References

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Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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