How to Choose the 2025 Forex Trading App? In-Depth Guide to the Top 10 Platforms

The foreign exchange market is the world’s largest decentralized trading market. Unlike centralized stock trading, forex quotes come from multiple sources, and spreads vary significantly among different brokers. Today, retail traders can access this market through trading apps provided by retail brokers, greatly lowering the entry barrier. But with so many trading apps on the market, how can beginners choose the right one and avoid pitfalls? This article provides a detailed comparison of 10 legitimate forex trading apps to help you quickly find the platform that suits you.

Five Key Points for Choosing a Forex Trading App

Before downloading any forex trading app, quickly assess the platform’s authenticity and quality through these five dimensions:

First, verify international regulatory licenses

Legitimate forex brokers must hold globally recognized financial regulatory licenses. Licenses from authorities like the UK FCA, Australian ASIC, US NFA, and EU MiFID are the most reputable. Platforms with these top-tier licenses generally offer better fund security; those without licenses or with licenses from unknown agencies carry high risks.

Second, observe platform user experience

Official platforms invest in refining their website and app experiences. If a platform’s website is rough or overly complicated, it may be a scam broker aiming for quick profits and then disappearing.

Third, test deposit and withdrawal processes

Scam brokers often make deposits easy but make withdrawals difficult. Legitimate platforms should allow easy withdrawals without unreasonable hurdles or demands for additional guarantees. If a platform requires extra fees for withdrawals, be cautious.

Fourth, compare trading costs

Forex brokers mainly profit from spreads and commissions. Some platforms advertise “very low commissions” to attract investors, but there’s no free lunch—if costs are too low, how do they sustain operations? Rationally assess whether the spread levels are reasonable.

Fifth, confirm localized services

Taiwanese investors should choose platforms that offer Traditional Chinese customer support, support TWD deposits and withdrawals, and provide local educational resources. Being able to communicate and resolve issues promptly greatly improves the experience.

How Do Forex Brokers Make Money? Three Business Models Explained

Market Maker (MM) Model

Market makers are the mainstream model in retail forex, operating over-the-counter (OTC). The platform acts as both intermediary and counterparty, mainly earning from spreads. Their quotes are usually close to interbank market levels.

STP and ECN Models

These brokers act solely as intermediaries, connecting client orders directly to liquidity providers. Their profits come from commissions and moderate spread markups, making trading costs more transparent for clients.

Top 10 Forex Trading Apps Tested in 2025

Mitrade—Beginner’s First Choice, Starting from $50

Regulation: ASIC Australia (License 398528)
Supported Systems: Android, iOS, Web, Desktop
Minimum Deposit: $50
Leverage Range: 1-200x (adjustable)
Proprietary Trading Platform

Mitrade is highly rated among beginners for its simple, user-friendly app, with a 4.7/5 rating on the App Store. Its main appeal is low entry barrier and comprehensive features: supports TWD deposits/withdrawals, 24/5 Chinese customer support, over 400 trading assets (including 60 forex pairs, cryptocurrencies, commodities, US stocks, etc.), and recently added USDT deposit options. Trading 0.01 lot AUD/USD costs about $4, making it ideal for new traders with limited funds to test waters.

IG Markets—A Weapon for Professional Traders

Regulation: FCA, ASIC, FSCA, FSA, and others
Supported Systems: Android, iOS, Web
Minimum Deposit: $300 (debit/credit card)
Leverage Range: up to 200x
Trading Platforms: MT4, Proprietary Webtrader

Founded in 1974, IG is a FTSE 250 company based in London and one of the largest forex and CFD brokers globally. It offers the widest range of assets—over 17,000 products across 11 categories, including forex, commodities, indices, stocks, cryptocurrencies, etc. Provides Chinese customer support, suitable for professional investors wanting to trade multiple asset classes on one platform.

Plus500—CFD Expert with Smooth Trading Experience

Regulation: FCA, ASIC, MAS, FSCA, CySEC
Supported Systems: Android, iOS
Minimum Deposit: $100
Leverage Range: up to 200x
Trading Platform: Proprietary platform
Deposits/Withdrawals: No fees (accounts inactive for 3 months + monthly fee of $10)

Plus500 is listed on the London Stock Exchange (stock code PLUS), mainly focusing on CFDs. Its app is known for smooth operation, simple interface, especially suitable for those focusing on CFD trading.

Forex.com (Gain Capital)—High Leverage up to 400x

Regulation: FCA, ASIC, FSCA, CySEC, FSA
Supported Systems: Android, iOS
Minimum Deposit: $100
Leverage Range: up to 400x
Trading Platforms: MT4, MT5, Proprietary

Gain Capital is a subsidiary of NYSE-listed StoneX, with 25 years of history. Its biggest advantage is offering up to 400x leverage (relatively high in the industry), moderate trading costs, and support for multiple trading software, suitable for traders seeking higher leverage.

IC Markets—Pure ECN, Lowest Spreads

Regulation: ASIC
Supported Systems: Android, iOS
Minimum Deposit: $200
Leverage Range: up to 500x
Minimum Trade: 0.01 lot
Trading Platforms: cTrader, MT4, MT5

IC Markets is a true ECN broker, providing clients direct access to liquidity providers and real market spreads. Euro-American spreads as low as 0.3, very friendly for active traders. The downside is ECN mainly charges commissions, suitable for high-volume traders.

XM—High Leverage Paradise

Regulation: FCA, ASIC, Belize IFSC, CySEC
Supported Systems: Android, iOS
Minimum Deposit: $5
Leverage Range: up to 888x
Trading Platforms: MT4, MT5

XM is famous for its super aggressive 888x leverage, with a minimum deposit of only $5, lowering the entry barrier for high-risk tolerance traders. But note: super high leverage means super high risk—small fluctuations can lead to margin calls, not suitable for beginners.

easyMarkets—TradingView Integration

Regulation: ASIC, CySEC
Supported Systems: Android, iOS
Minimum Deposit: $100
Leverage Range: up to 200x
Trading Platforms: MT4, Proprietary, TradingView integrated

easyMarkets, established in 2001, is an early pioneer in forex trading. Its feature is direct trading on TradingView charts without switching platforms. Offers 175 tradable products, with spreads improving as account level increases.

ThinkMarkets—Most Product Varieties

Regulation: FCA, ASIC, FMA
Supported Systems: Android, iOS, Web
Minimum Deposit: $250
Leverage Range: up to 400x
Trading Platforms: MT4, ThinkTrader proprietary

ThinkMarkets offers over 4,000 tradable assets, covering the broadest range, suitable for investors wanting to explore multiple trading varieties on one platform.

FXTM (Futuo)—Best for Beginner Education

Regulation: FCA, CySEC, Belize IFSC
Supported Systems: Android, iOS
Minimum Deposit: $200
Leverage Range: up to 2000x (cent accounts)
Trading Platforms: MT4, MT5, FXTM Trader

FXTM’s core advantage is rich educational resources and frequent platform promotions, very friendly for beginners wanting systematic learning of forex trading. Offers over 250 trading products, but note: inactive for 6 months + account fees apply.

ATFX—Simple and Focused, Only MT4

Regulation: FCA, CySEC
Supported Systems: Android, iOS
Minimum Deposit: $100
Leverage Range: up to 400x
Trading Platform: Only MT4

Founded in 2015, ATFX is a young platform with rapid growth but lacks proprietary platforms, relying solely on MT4. Emphasizes customer service and low costs, ideal for traders already familiar with MT4.

Comparison Table of Top 10 Trading Apps

Source: Official websites of each platform. Please verify the latest info before investing. This ranking does not imply recommendation.

MT4/MT5 vs Proprietary Trading Apps: Which Is Better for You?

For beginners, there’s no fundamental difference between MT4/MT5 and proprietary apps; the choice mainly depends on personal habits. Professional traders prefer MT4/MT5 because they can install custom plugins and indicators, but this requires programming skills.

For retail traders lacking time and programming ability, it’s better to focus on trading strategies rather than complex coding. In most cases, proprietary apps are user-friendly enough for daily trading needs.

How Much Capital Do You Need to Start Forex Trading?

Not much. Most forex trading operates on margin, requiring only a small portion of the trade amount as capital. Theoretically, a few tens of dollars can start trading.

Example: Trading 0.01 lot AUD/USD on Mitrade, based on current exchange rates, requires less than $4 in margin.

It’s recommended to open a free demo account first to experience the trading process and understand risks. After familiarization, start with small real deposits and gradually increase positions.

Essential Tools for Forex Beginners

Information Sources: Jin10 Data, Yahoo Finance
Market Analysis: TradingView, Financial M Square

These apps help you quickly access market dynamics and make informed decisions.

Disclaimer: The above content is for reference only and does not constitute investment advice. Forex and derivatives trading involve high risks. Please participate cautiously according to your risk tolerance. Be sure to read the risk disclosures of each platform carefully before investing.