It offers user-friendly platform, fast execution speeds, and a brilliant mobile app for traders who want to trade on the go. For me, having these additions enhances flexibility in strategy implementation, and this can allow your trading strategies to adapt to different market conditions easily. From features to profitability, we provide straightforward answers to help you understand free forex trading apps and choose the right broker confidently. These include its own proprietary Web Trading Platform and mobile app, the industry-standard MetaTrader 4 (MT4), and MetaTrader 5 (MT5).
Top 3 FREE Forex Trading Apps – PrimeXTB vs Plus500 vs AvaTrade
Pepperstone is an approved, globally regulated broker offering low-cost trading, multiple platforms, and fast execution. With strong security measures and diverse CFDs, it appeals to both beginners and professionals, though swap fees and regional restrictions may apply. Pepperstone offers a few different account types to cater to various trading needs.
Is there a mobile app?
I also found eToro CopyTrader, the broker’s copy trading platform, to be a standout. I highly recommended this if you are just starting out with copy trading since you are up for a great selection. EToro also offers a list of recommended traders ranked based on performance and popularly, making the selection process easier. I am quite pleased with my trading experience using GO Markets, mainly because of the low commissions and ease of trading with cTrader.
BlackBull Markets – Great TradingView Broker
Aside from Capitalise AI, Eightcap offers 95 crypto CFDs to trade on MT5, over two times the amount eToro offers. This makes this broker a decent choice if you want to automate your strategies across a range of cryptocurrencies. I found Eightcap to be a great choice if you’re keen on automated crypto trading. This broker differentiates itself by offering Capitalise.ai integration, which is top-notch for setting up your automated crypto strategies. I also love that the charting platform allows accessing of charts and drawings on any device. You will not have to worry about forgetting important support levels or redrawing analysis again.
Which Platform Has Free Automated Trading?
These platforms target traders with established programming skills seeking institutional-grade infrastructure. They handle the full trading lifecycle from idea generation through execution and analysis, supporting complex portfolio strategies beyond TradingView’s capabilities. Their emphasis on robust backtesting, risk management, and direct market integration makes them more suitable for serious algorithmic traders willing to climb steeper learning curves.
Criteria for Choosing a FREE Forex Trading App
Based on my research, they only charge $2.50 per lot traded, much lower than the industry average of $3.48. You can add up to 30 indicators on a chart at once from a selection of 80+ indicators. In my test, the platform returned a list of traders that meet my preferences, narrowing my search from a whopping 2 million to just 3. For my first impression of the cTrader platform, I was impressed to find that it gave a more modern look at trading compared to reviewing MetaTrader 4 & 5. The platform is aesthetically pleasing with its bold block colours and round edges which help me see the charts clearer.
While executing my trades, I noticed that my RAW account spreads were zero-pips, so I asked our analyst Ross Collins to see how often Pepperstone offered them this low. The spreads on Pepperstone’s Standard account average 1.12 pips on EUR/USD with no commission, but the RAW account averages 0.1 pips with a small commission of $3.50 per lot traded. MetaTrader is a third-party trading platform free forex software used by many different brokers while a proprietary platform is a self-designed and executed trading platform owned by one broker. EToro’s eToro Trading Platform is an example of a proprietary trading platform. The broker has been one of early proponents of this idea since launching in 2007. Now with over 25 million members globally, eToro has built a solid community where traders can share and benefit from each other’s expertise.
- This has landed IC Markets in the second spot for tightest spreads among the brokers I tested.
- MetaTrader 4 also has a mobile app and is a widely used tool, especially by the best forex brokers out there that I have reviewed.
- I recommend eToro to forex traders who are curious about social trading or copy trading and would like to crowdsource their trading knowledge.
- Free platforms increasingly prioritize a user friendly interface, offering intuitive navigation, customizable dashboards, and seamless access to essential tools.
What Is The Difference Between MetaTrader and TradingView?
In my analysis, GO Markets consistently offered the lowest commissions for a No Dealing Desk, ECN-style setup, which could be a massive win if you are into low-cost trading. Also, if you like equities, you’ll be chuffed to know that the broker offers access to more than 2,500 ASX stocks, all with competitive spreads. On top of that, Pepperstone has lightning-fast limit order execution speeds and competitive spreads, which make a genuine difference in a market where every millisecond counts.
Free AI trading tools like Kavout’s basic tier and TradingView’s pattern recognition features demonstrate both the promise and limitations of artificial intelligence in trading automation. Download MT4 to experience trading with ZERO spreads, advanced tools and indicators, automated trading and more, without requotes and strategy restrictions. Please note this software comparison focuses on forex and CFD trading platforms suitable for short-term trading with maximum leverage. If you are interested in medium to long-term trading involving buying and selling shares, then viewing this Stock trading app guide created by Young And The Invested is recommended.
- Based on the results of my testing, the broker’s RAW account spreads are impressive, with EUR/USD averaging 0.06 pips — lower than the industry average of 0.22 pips.
- The broker has been one of early proponents of this idea since launching in 2007.
- As for the broker, I selected Pepperstone as best suited for the MetaTrader 4 platform.
With strong client fund protection and flexible accounts, it suits both beginners and experienced traders, despite regional restrictions. AvaTrade is a globally regulated forex and CFD broker offering trading in currencies, commodities, indices, stocks, ETFs, options, and cryptocurrencies. Its free AvaTradeGO app (iOS & Android) provides real‑time quotes, advanced charting, risk management tools, and seamless mobile trading. For those prioritizing TradingView integration and practice opportunities, BlackBull Markets stands out as a top choice. This New Zealand-based broker offers 110+ indicators and drawing tools on TradingView, and comes with one of the best forex demo accounts I’ve used.
The desktop version also offers automated trading through cBots and custom indicators, although the marketplace isn’t as popular as MetaTrader’s. With its many offers, BlackBull Markets became the choice for TradingView in my books, complemented by the broker’s fast execution speeds and free access to TradingView premium subscriptions. What this means is that you can maximise TradingView’s capabilities with more technical indicators on the chart.
Some brokers will charge a fee if you use a particular method to fund your trading account or withdraw money. For example, IG Group charges a transaction fee between 0.5% and 1% if you use a credit card to add money to your account. Direct costs include spreads and commissions, while indirect costs include minimum deposits, inactivity, and deposit or withdrawal fees. While using the platform, I found the default interface cluttered with market news widgets and tools that most traders wouldn’t use. The good news is you can customise this by removing those widgets, which I think is a positive development for the platform.
I found that the broker enhances MT4’s functionality with Smart Trader Tools, with 28 free Expert Advisors and indicators. These tools improve trade management features when doing algorithmic trading. A broker, like FBS, provides you with the market access, infrastructure, liquidity, regulatory compliance, and support needed to execute trades effectively. You cannot place trades or manage your trading activities without a broker on the MT5 platform. A demo account uses virtual money, allowing you to practice strategies risk-free.
I like IC Markets for its exceptionally low spreads, which can make a real difference to the trading experience. On top of that, the broker’s selection of platforms and trading tools is what really rounds out the offering. As a trading platform, MT5 is an interface that provides the tools necessary to make trades, but it does not itself provide access to the financial markets.
Trading signals
For me, being able to choose traders to copy who specialise in different markets is a top feature, allowing you to pick the best of the best for each market and copy their trades. I recommend eToro to forex traders who are curious about social trading or copy trading and would like to crowdsource their trading knowledge. If you’re a big fan of cTrader platform, then FxPro is my top recommendation. CTrader is a popular alternative to MetaTrader 4 since it has Depth of Market, 26 timeframes (17 more than MT4), a better user interface and an economic calendar. Combine this powerful platform with BlackBull’s competitive costs and chart-topping execution speeds, you’ll get a great TradingView broker. During my test of MT5 with the broker, I found that the platform now includes 35+ indicators and 21 timeframes, but the biggest additions are the Depth of Market and native economic calendar tools.
This ensures that, even when the spread doesn’t cover the broker’s costs, it still makes money. EToro has CopyTrader, one of the best copy trading platforms available, used by 30 million traders. I found this to be a great platform for beginners, so I went ahead and tested its features to see how easy it is to navigate around.