The Top Forex Trading for Beginners Apps to Download in 2021
Forex trading has become increasingly popular in recent years, attracting both experienced traders and beginners looking to enter the market. With the advent of technology, trading can now be done conveniently through mobile apps, making it accessible to a wider audience. If you are a beginner in forex trading and are looking for the best apps to help you get started, this article will guide you through the top forex trading apps to download in 2021.
1. MetaTrader 4 (MT4)
MetaTrader 4 is a widely used platform among forex traders, renowned for its user-friendly interface and comprehensive features. The app allows you to trade various financial instruments, including currencies, commodities, and indices. MT4 offers real-time quotes, interactive charts, technical analysis tools, and customizable indicators, making it an ideal choice for beginners. Additionally, it supports automated trading through expert advisors, enabling you to execute trades even when you are away from your device.
2. MetaTrader 5 (MT5)
MetaTrader 5 is an upgraded version of MT4, offering advanced features and improved performance. While MT4 focuses primarily on forex trading, MT5 expands its reach to other markets, including stocks and futures. It provides an extensive range of technical analysis tools, superior charting capabilities, and a built-in economic calendar. MT5 also supports hedging, allowing you to open multiple positions in the same instrument simultaneously, providing more flexibility in your trading strategies.
TradingView is a popular trading platform that offers a comprehensive range of features for both beginners and advanced traders. The app provides real-time data, customizable charts, and a wide selection of technical analysis tools. One of the standout features of TradingView is its social trading community, where users can share ideas, strategies, and analysis with each other. This feature is particularly beneficial for beginners as it allows them to learn from experienced traders and get insights into market trends.
eToro is a social trading platform that combines traditional trading with a social networking element. The app allows you to follow and copy the trades of successful traders, making it an ideal choice for beginners who want to learn from experienced professionals. eToro also offers a wide range of educational resources, including webinars, tutorials, and a demo account to practice your trading skills. The app supports various financial instruments, including forex, stocks, and cryptocurrencies, providing you with a diverse trading portfolio.
Forex.com is a well-established forex trading platform that offers a user-friendly interface and a wide range of educational resources. The app provides real-time quotes, advanced charting tools, and customizable indicators. Forex.com also offers a demo account to practice your trading strategies without risking real money. The app provides educational materials, including webinars, video tutorials, and market analysis, helping beginners understand the fundamentals of forex trading.
6. IQ Option
IQ Option is a popular trading platform that is known for its simplicity and ease of use. The app offers a wide range of financial instruments, including forex, stocks, and cryptocurrencies. IQ Option provides a user-friendly interface, real-time quotes, and customizable charts. The app also offers a demo account to practice your trading skills and a vast library of educational resources to enhance your trading knowledge.
In conclusion, forex trading apps have revolutionized the way beginners enter the market. These apps provide a user-friendly interface, real-time data, and a wide range of educational resources to help beginners learn the ropes of forex trading. Whether you choose MetaTrader 4, MetaTrader 5, TradingView, eToro, Forex.com, or IQ Option, these top forex trading apps for beginners in 2021 will provide you with the necessary tools and knowledge to kickstart your trading journey. Remember to start with a demo account and gradually transition to live trading to ensure you have a solid understanding of the market dynamics and risk management strategies.