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Having a reliable Forex trading app is important for all Forex traders. Whether you’re a beginner or a professional, being able to check market data and adjust trades on your phone is an essential part of your trading day.
These are the best Forex trading apps of 2023 designed for Australian traders of all levels. With this comprehensive list, you’ll gain a better understanding of the top Forex apps and their features, helping you find the right one to your fit your trading style. From risk-managements tools to advanced analysis, you will find everything you need from these apps for Forex trading on the go.
These are the best Forex trading apps in Australia for 2023.
A Forex trading app is an application you can download to your phone or tablet that allows you to trade Forex and other financial instruments. Forex trading apps are usually offered free by Forex brokers. Some apps are proprietary, which means they are developed in-house by a broker. But many popular apps are developed by third-party companies. Proprietary Forex trading apps are usually easier to set up and use by beginners.
Forex trading apps will let you open a demo or trading account with the broker, buy and sell instruments, deposit and withdraw funds from your broker, provide real-time market data, display news and analysis, and provide price alerts and other tools to manage your risk.
Forex trading apps are available on mobile devices, while Forex trading platforms run on desktop computers. Otherwise, they perform the same function. Both allow you to trade on financial markets and will connect to your broker’s trading system. Desktop trading platforms tend to have more features and tools than trading apps and are favoured by experienced traders who require more in-depth technical analysis and advanced order types.
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’s stability and execution speed. We also compared their fees and checked how easy it was to deposit and withdraw money from our trading account. We only work with well-regulated brokers with a good reputation for treating their clients fairly. Want to know more about our in-depth review process? Click here to find out.
These are the best Forex Trading Apps in Australia for 2023, as determined by our comprehensive review process.
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 traders.
Accepts 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, cTrader & IRESS platforms supported. FP Markets is regulated by CySEC and ASIC.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 mobile applications are identical to their desktop counterparts.
Accepts Australian Clients. Average spread EUR/USD 0.60 pips with 0.0 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.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.
Leverage limitations apply to all the EU regulated entities of the group.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.
Accepts Australian Clients. Average spread EUR/USD 0.90 pips. Minimum initial deposit 100 AUD. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. AvaTrade Group regulated by ASIC, FSCA, B.V.I FSC & FSA.Trading App: easyMarkets states its values as simple, honest, and transparent and the easyMarkets trading app is just that, creating a platform that is modern, simple, and accessible for beginner traders. The easyMarkets trading app is designed for new traders and features an extensive list of tools offered by easyMarkets.
Innovative Tools: 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.
Accepts 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.With the right Forex trading app, you can stay up to date with the latest market news, access charts, conduct technical analysis, and carry out trades all from the convenience of your smartphone or tablet. But with so many apps out there, how do you choose the best Forex trading app for you? Here are a few important things to consider:
It’s impossible to say which trading app is best as traders have different priorities, but AvaTrade’s trading app, AvaTradeGo, provides a smooth trading experience with a sophisticated dashboard, complete with a set of intuitive risk-management tools, clear charts, zoom for details, and many more helpful features unique to this app.
The best trading apps for beginners are easy to set up and use and have built-in educational resources. In our testing, we found that the Skilling Trader App has many helpful features for beginners. Not only is it easy to use, but it also includes a Trading Assistant that walks you through the app features. Traders can easily transfer, withdraw and deposit funds, search for instruments, create watchlists, and all of Skilling’s educational materials and market news are available on the app.
All Forex and CFD trading comes with a high degree of risk of losing all the money in your trading account. In terms of app security, as long as you download an app from a well-regulated broker and protect your trading account with a strong password and two-factor authentication, your Forex trading app should be secure from hackers.
While there are a few advantages to using trading apps, such as being able to respond immediately to market movements wherever you are, there are also disadvantages to be aware of, such as the risk of overtrading and trading while distracted.
Yes, both MetaTrader 4 and MetaTrader 5 are available as trading apps for Android devices from the Google Play store. Apple removed the MetaTrader apps from its App Store in September 2022 following claims of misuse.
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 State of the Market Report and Broker Directory are the results of extensive research on over 180 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 200 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, and websites and sifting through the fine print. Learn more about how we rank brokers.
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