Best App for Forex Trading in India

AvaTrade – Best Forex Trading App

AvaTrade’s 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 fees are some of the lowest for an account with a 100 USD minimum deposit – as low as 0.9 pips on the EUR/USD.

AVATRADEGO FEATURES

  • Choose from over 1,000 instruments to trade, including Forex pairs, Commodities, Stocks, Cryptocurrencies and more
  • AvaProtect loss protection: Any losses are fully refunded, but any gains are the traders to keep
  • Market Trends: Monitor social trends, see what other traders buy and sell, and stay on top of your trades
  • Secure deposits, FSCA-regulated and 24/5 Customer Support

Pros

  • Good for beginners
  • Well regulated
  • Low minimum deposit

Cons

  • Dealing desk
  • Limited market analysis

AlertAccepts Indian Clients. Average spread EUR/USD 0.90 pips on trading account with lowest minimum deposit. Max leverage 400:1. Islamic account available. MT4 & MT5 platforms supported. AvaTrade Group regulated by ASIC, FSCA, B.V.I FSC & FSA.

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.

XM APP FEATURES

  • Both MT4 and MT5 trading platforms are available as apps
  • Trade on Forex, stock CFDs, commodities, equities, precious metals, energies, and shares
  • 99% of trades are executed in less than a second with a 100% execution rate. No re-requotes or rejections of orders.

Pros

  • Well regulated
  • Excellent education
  • Free deposits and withdrawals

Cons

  • Dealing desk
  • Wide spreads on its entry-level accounts

AlertAccepts Indian Clients. Average spread EUR/USD 1.60 pips on trading account with lowest minimum deposit. Max leverage 888:1. Islamic account available. MT4 & MT5 platforms supported. XM Group regulated by CySEC, ASIC, and the IFSC.

HotForex – Best App for Forex Analysis

FSCA regulated and with ZAR trading accounts, HotForex offers trading on Forex, commodities, indices, shares, bonds, and ETFs – though it recently stopped offering crypto CFDs. The new HotForex
HF App
features include in-app fund transfers, advanced charting, and access to HotForex’s copy-trading accounts (HFcopy and PAMM).  Other features include a live rate stream for CFDs on forex, commodities, stocks and indices, a market news stream and the latest analysis published by the HotForex research team.

HF APP FEATURES

  • Micro Account: with a 70 ZAR (5 USD) minimum deposit, fast market execution and spreads starting at 1 pip.
  • Analytical tools: Daily Market Analysis from experts, a market sentiment tool, and
    Trader’s Board
    – a detailed look at the world’s markets with volume indicators and live charts.
  • Trading calculators, an economic calendar, and information on upcoming live webinars with reservation functionality.
  • A dedicated section for copy-trading: Monitor the status of investments, allocate funds and manage your portfolio.

Pros

  • Low minimum deposit
  • Tight spreads
  • Well regulated
  • Good range of accounts

Cons

  • Limited base currencies

AlertAccepts Indian Clients. Average spread EUR/USD 1.00 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. HF Markets Group regulated by the FSCA, FCA, FSC, CySEC and the DFSA.

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BDSwiss – Best App for Trading Crypto

Founded in 2012, BDSwiss offers trading on multiple instruments, including Forex, commodities, shares, indices, and over 27 cryptocurrencies, BDSwiss offers a comprehensive mobile trading environment from their iOS and Android apps. Winner of the Best Trading App at the

2019 Mobile Star Awards

, the BDSwiss Mobile App allows access to 1000+ instruments and fully synchronises with the BDSwiss WebTrader and BDSwiss MT4 Platform. BDSwiss offers account types for both beginners and more experienced traders, including a Raw Account with spreads down to 0 pips.

BDSWISS MOBILE APP FEATURES

  • No need for desktop registration; open, fund and verify your trading account within minutes
  • 24/7 access to a wide range of crypto assets, including Bitcoin, Dash and Ethereum pairs.
  • Open positions on every CFD asset available on the desktop MT4 platform, monitor market activity and access the account dashboard
  • Free deposits and withdrawals via 150+ methods.
  • Industry-leading market analysis and education available from within the app

Pros

  • Tight spreads
  • Good for beginners
  • Wide range of assets

Cons

  • Expensive withdrawals

AlertAccepts Indian Clients. Average spread EUR/USD 1.50 pips on trading account with lowest minimum deposit. Max leverage 400:1. Islamic account available. MT4 & MT5 platforms supported. BDSwiss is regulated by CySEC, FSC, and the FSA-Seychelles.

FBS – Highest Leverage Mobile Trading


FBS Trader app:

 FBS is a hybrid STP/ECN broker offering trading on Forex, commodities, cryptocurrencies, metals, and equities on the MT4 and MT5 trading platforms and the

FBS Trader

 app. The new

FBS Trader

 app



offers an all-in-one multi-asset trading platform for online trading anywhere.

Regulated internationally, with five different live accounts for all levels of traders, and a minimum deposit of 1 USD on its smallest account, clients have access leverage of up to 3000:1 on most accounts.

FBS TRADER FEATURES

  • More than 100 global and local payment methods. Deposit and withdraw at any time, 24/7
  • 20% Cashback for every order on trading Forex, stocks, and other assets
  • 24/7 chat support and demo trading from inside the app
  • Trade over 35 crypto pairs and crypto crosses 24/7

Pros

  • Tight spreads
  • Low minimum deposit
  • Excellent education
  • Excellent market analysis

Cons

  • Limited range of assets
  • Extreme leverage

AlertAccepts Indian Clients. Spreads start at 0.80 pips on the EUR/USD on the trading account with lowest minimum deposit. Max leverage 3000:1. Islamic account available. MT4 & MT5 platforms supported. FBS is regulated by ASIC, CySEC, the FSCA, and the IFSC.

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.

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Pros

  • Well regulated
  • Tight spreads
  • Great platform choice
  • Wide range of assets

Cons

  • Limited market analysis

AlertAccepts Indian Clients. Average spread EUR/USD 0.77 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 Group is regulated by the FCA, ASIC, and the DFSA.

XTB – Best Regulated Forex Broker

Founded in 2002 in Poland, XTB offers trading on over 1500 financial assets including Forex, indices, commodities, stock CFDs, ETF CFDs, and cryptocurrencies. XTB has successfully incorporated many of its desktop
xStation
trading platform’s features into the
xStation
mobile app. With a smooth and intuitive design, the transparent charts (also available horizontally) allow clients to track market movements accurately. XTB has relatively low fees compared to many brokers, with no minimum deposit requirement and spreads averaging 0.9 pips (EUR/USD).

XSTATION APP FEATURES

  • Access XTB’s award-winning market analysis and market sentiment from inside the app
  • Control your take-profit and stop-loss directly on the chart or through the integrated trading calculator
  • Filter instrument classes and set favourites with the market analysis dashboard.
  • Fully customisable layout. Traders can also choose between light and dark mode, saving battery and keeping clarity.

Pros

  • Well regulated
  • Tight spreads
  • Low minimum deposit
  • Good for beginners

Cons

  • Limited platform choice

AlertAccepts Indian Clients. Average spread EUR/USD 1.40 pips on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & xStation platforms supported. XTB Group is regulated by CySEC, FCA and the IFSC

What is the best Forex trading App?

AvaTrade’s  flagship mobile app is called AvaTradeGo and was voted the Best Forex Trading App in 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?

Better trading apps enhance the convenience of 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

Forex trading apps are convenient, and let traders can monitor open positions when away from their desk. 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.

mobile-trading-3

Response Time

Trading apps also allow you 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.

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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 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, but trading while you are doing other tasks is not encouraged.

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 mobile trading apps are generally 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. 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.

Best App for Forex Trading in India

Source: https://fx-india.co.in/forex-trading-apps/

Posted by: derivbinary.com