Intro and winners
Find below the strengths of the best forex trading apps in the United States, updated for 2024:
- IG is the winner, the best forex trading app in the US in 2024. - First-class web trading platform. Superb educational tools. Great deposit and withdrawal options.
- eToro - Free stock and ETF trading. Seamless account opening. Social trading.
- Oanda - Great trading platforms. Outstanding research tools. Fast and user-friendly account opening.
- Charles Schwab - Free stock and ETF trading. Outstanding research. Great customer service.
- Forex.com - Low forex fees. Great variety of currency pairs. Diverse technical research tools.
- Interactive Brokers - Extremely low fees. Wide range of products. Many great research tools.
- Saxo - Great trading platform. Outstanding research. Broad product portfolio. Interest paid on uninvested cash.
- CMC Markets - Low forex fees. Great web and mobile platforms. Advanced research and educational tools.
- Capital.com - Low forex CFD fees. Great account opening experience. Excellent email and chat support.
- Plus500 - Well-designed platform. Great account opening. Quick and helpful customer support.
Comparison of the top forex trading apps in the US in 2024
There are many great apps for trading currencies out there, but the ones in our toplist go the extra mile.
| Broker | Fees score |
|---|---|
| IG | 3.6 /5 |
| eToro | 4.2 /5 |
| Oanda | 4.4 /5 |
| Charles Schwab | 4.0 /5 |
| Forex.com | 3.7 /5 |
| Interactive Brokers | 4.3 /5 |
| Saxo | 3.2 /5 |
| CMC Markets | 3.8 /5 |
| Capital.com | 3.8 /5 |
| Plus500 | 3.6 /5 |
Popularity of the best forex trading apps in the US
Interested in what others think? Here's how many people chose these brokers at BrokerChooser in the last 6 months.
Trading fees at the top forex trading apps
How much you pay in fees for a trade is a crucial broker selection criteria. See the spreads for the most popular currency pairs at the currency trading apps included in our top list.
| Broker | EURUSD spread | GBPUSD spread |
|---|---|---|
| IG | 0.6 | 0.9 |
| eToro | 1.0 | 2.0 |
| Oanda | 1.0 | 1.5 |
| Charles Schwab | 1.4 | 1.3 |
| Forex.com | 1.2 | 1.5 |
| Interactive Brokers | 0.2 | 0.4 |
| Saxo | 0.9 | 1.0 |
| CMC Markets | 0.5 | 0.9 |
| Capital.com | 0.6 | 1.3 |
| Plus500 | 1.2 | 1.5 |
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75% of retail CFD accounts lose money
| IG snapshot | |
|---|---|
| Mobile app score | 5.0 stars |
| Minimum deposit | $0 |
| Inactivity fee | No |
| Currency pairs | 98 |
| Deposit methods | Bank transfer, Credit/debit cards, PayPal |
| Withdrawal fee | $0 |
| Read review | For a detailed analysis of IG services, check out our review for 2024 |
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eToro USA LLC; Investments are subject to market risk, including the possible loss of principal
| eToro snapshot | |
|---|---|
| Mobile app score | 4.9 stars |
| Minimum deposit | $10 |
| Inactivity fee | Yes |
| Currency pairs | 52 |
| Deposit methods | Bank transfer, Credit/debit cards, eToro Money, Neteller, Skrill, Trustly, iDEAL, Przelewy 24, RapidTransfer, Klarna, Giropay |
| Withdrawal fee | $5 |
| Read review | For a detailed analysis of eToro services, check out our review for 2024 |
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75% of retail CFD accounts lose money
| Oanda snapshot | |
|---|---|
| Mobile app score | 4.9 stars |
| Minimum deposit | $0 |
| Inactivity fee | Yes |
| Currency pairs | 42 |
| Deposit methods | Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller |
| Withdrawal fee | $0 |
| Read review | For a detailed analysis of Oanda services, check out our review for 2024 |
| Charles Schwab snapshot | |
|---|---|
| Mobile app score | 4.7 stars |
| Minimum deposit | $0 |
| Inactivity fee | No |
| Currency pairs | 82 |
| Deposit methods | Bank transfer |
| Withdrawal fee | $0 |
| Read review | For a detailed analysis of Charles Schwab services, check out our review for 2024 |
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69-77% of retail CFD accounts lose money
| Forex.com snapshot | |
|---|---|
| Mobile app score | 4.5 stars |
| Minimum deposit | $100 |
| Inactivity fee | Yes |
| Currency pairs | 80 |
| Deposit methods | Bank transfer, Credit/debit cards, Skrill, Neteller, PayPal |
| Withdrawal fee | $0 |
| Read review | For a detailed analysis of Forex.com services, check out our review for 2024 |
| Interactive Brokers snapshot | |
|---|---|
| Mobile app score | 4.3 stars |
| Minimum deposit | $0 |
| Inactivity fee | No |
| Currency pairs | 100 |
| Deposit methods | Bank transfer |
| Withdrawal fee | $0 |
| Read review | For a detailed analysis of Interactive Brokers services, check out our review for 2024 |
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62% of retail CFD accounts lose money
| Saxo snapshot | |
|---|---|
| Mobile app score | 5.0 stars |
| Minimum deposit | $0 |
| Inactivity fee | No |
| Currency pairs | 190 |
| Deposit methods | Bank transfer, Credit/debit cards |
| Withdrawal fee | $0 |
| Read review | For a detailed analysis of Saxo services, check out our review for 2024 |
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71% of retail CFD accounts lose money
| CMC Markets snapshot | |
|---|---|
| Mobile app score | 5.0 stars |
| Minimum deposit | $0 |
| Inactivity fee | Yes |
| Currency pairs | 330 |
| Deposit methods | Bank transfer, Credit/debit cards |
| Withdrawal fee | $0 |
| Read review | For a detailed analysis of CMC Markets services, check out our review for 2024 |
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83.51% of retail CFD accounts lose money
| Capital.com snapshot | |
|---|---|
| Mobile app score | 4.9 stars |
| Minimum deposit | $20 |
| Inactivity fee | Yes |
| Currency pairs | 125 |
| Deposit methods | Bank transfer, Credit/debit cards, Apple Pay, PayPal, Neteller, Skrill, Sofort, Trustly |
| Withdrawal fee | $0 |
| Read review | For a detailed analysis of Capital.com services, check out our review for 2024 |
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82% of retail CFD accounts lose money
| Plus500 snapshot | |
|---|---|
| Mobile app score | 5.0 stars |
| Minimum deposit | $100 |
| Inactivity fee | Yes |
| Currency pairs | 60 |
| Deposit methods | Bank transfer, Credit/debit cards, PayPal, Skrill, Google Pay, Apple Pay, iDeal, POLi, PayNow, Blik, BPay, Klarna, GiroPay |
| Withdrawal fee | $0 |
| Read review | For a detailed analysis of Plus500 services, check out our review for 2024 |
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Where do you live?
How did BrokerChooser select the best FX trading apps in the US?
- We tested trading apps at more than 100 online brokers and checked US availability,
- Compared fees (including spreads, withdrawal fee, commission),
- Compared the number of currency pairs available,
- Checked withdrawal,
- Made sure that the brokers are regulated,
- Opened an account and tested the full range of services (charting, features, usability, customer service) with real money.
FAQ
How to trade currencies on your smartphone?
The forex market is the largest financial market in the world with the highest liquidity. Trading takes place 24 hours a day, so reliable, fast and easy-to-use trading platforms are critical for forex traders.
Timing your forex trade is essential so having everything you need to trade on your phone is very convenient when buying and selling currencies.
Smartphone and/or tablet currency trading apps are increasingly popular with forex traders. Our research shows that traders want prices, charts, a variety of order types as well as cheap and convenient deposit and withdrawal methods at their fingertips.
Although nearly all forex brokers offer mobile applications, these differ greatly in terms of quality, design, reliability and safety. Our broker experts analyzed the entire service portfolio of individual brokers, not merely their currency trading apps when compiling the top list of best forex trading apps.
How does FX trading work in the US?
The US foreign exchange market is highly regulated. The Commodity Futures Trading Commission (CFTC), a US government agency registers and regulates forex brokers. A broker must meet certain financial standards and meet specific disclosure requirements to be registered.
Brokers are also regulated by the National Futures Association (NFA), another independent, self-regulatory organization that sets minimum standards for brokers. The NFA allows a maximum leverage of 50:1 on most major currencies.
How to choose the best forex trading apps?
An excellent overall service level is required to make it to the BrokerChooser list of best brokers in any category. In addition, all service providers included in our list are reliable brokers. When it comes to forex trading and forex brokers, some criteria weigh more heavily in our methodology.
The most important selection criteria for the best apps for currency trading include a superb mobile trading platform with many functionalities and advanced charting; fair forex fees; a wide selection of currency pairs; as well as educational tools to guide you through the basics of trading.
BrokerChooser evaluates 9 key areas for all brokers. Every year, we finetune our methodology based on our own and our users' experiences. We check more than 600 criteria for each broker. We have more than 100 brokers reviewed on our site and our analysts examine more than 60,000 data points overall
Which app is best for forex trading?
In our assessment, IG offers the best app for currency trading. Called IG Trading, the app is highly intuitive, equipped with a user-friendly search function, price alerts and biometric authentication.
IG, one of the biggest CFD brokers in the world, was established in the UK in 1974. The broker is regulated globally; overseeing authorities include the US Commodity Futures Trading Commission (CFTC), the National Futures Association (NFA), the UK's Financial Conduct Authority (FCA) and Germany's Federal Financial Supervisory Authority (BaFin).
IG Group is listed on the London Stock Exchange, which adds an additional layer of safety.
What app do most forex traders use?
The most common and popular trading platform among forex traders is the MetaTrader 4 (MT4).
A high number of forex brokers work with this trading platform while some others have their own trading platforms and apps developed in house. MetaTrader 4 runs on smartphones and tablets (both Android and iOS). Despite its great popularity, some of the best trading apps are developed by individual brokers.
Can you get rich trading forex?
Forex trading is a good way to make a lot of money provided you are an exceptionally skilled forex trader or if you have a vast amount of money to invest. Nevertheless, do not expect to get rich overnight when you start trading forex.
Similarly to all other investments, forex trading comes with a high number of risks and retail investors may lose all their money if they get carried away.
Leverage (trading with money borrowed from your broker) is a common practice in forex trading, and carries the risk of losing more funds than you initially invested. Forex trading is not a one-way ticket to making big money in a short period of time.
Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.
