How to choose a 2025 Forex App? This practical checklist of Forex trading platforms helps you avoid pitfalls | iOS/Android dual versions

With so many Forex Trading Apps, how should beginners choose?

The forex market is decentralized, and quotes vary across platforms. Previously, retail traders found it difficult to enter, but now with the emergence of retail brokers and mobile apps, the barrier to entry has been significantly lowered. The problem is—there are countless forex apps on the market, and many are fake or scam platforms.

For investors wanting to enter the forex market, the most important thing is to learn how to distinguish genuine platforms from fake ones, and then choose the right forex app based on your needs.

How to quickly identify reliable forex trading platforms?

Don’t be intimidated by complicated descriptions—these 5 points will help you judge:

1. Regulatory licenses are the first line of defense
Legitimate forex apps are certified by international financial regulatory agencies. Globally recognized regulators include: UK FCA, Australian ASIC, US NFA, EU MiFID. If a platform cannot obtain these licenses, it’s basically a scam or fake platform.

2. Website and software quality
Official platforms invest in professional website and app interfaces. Conversely, poorly made platforms are often scams that rely on quick tricks.

3. Deposit and withdrawal issues
Can you withdraw funds smoothly? Reliable platforms process withdrawals quickly, with transparent fees, and won’t delay using excuses like “margin” or others. Avoid platforms that find various reasons to block withdrawals.

4. Are trading costs reasonable?
Forex brokers mainly earn through spreads and commissions. If a platform claims to have ridiculously low fees, it’s either bait or trying to siphon your money elsewhere.

5. Is there localized service?
Taiwanese investors prefer platforms with Chinese customer service, support for TWD deposits and withdrawals, and educational resources, which can save a lot of trouble. These details directly impact your trading experience.

How do forex brokers make money?

Simply put, there are three main models:

• Market Makers (MM): act as intermediaries and hedgers, mainly profit from spreads, operating in OTC markets
• STP/ECN: purely intermediary role, mainly earn through commissions and spreads

Why is understanding this useful? It helps you grasp different platforms’ fee structures and choose the trading costs that suit you best.

10 Forex Trading Apps to watch in 2025

Mitrade — Beginner-friendly, lowest threshold

Supported systems: iOS / Android

Regulated by ASIC (license 398528), with hundreds of thousands of users worldwide. The platform’s selling points are—simple, easy to use, affordable. App rated 4.7/5 on the Apple Store, minimum deposit only $50, supports TWD deposits and withdrawals, 24-hour Chinese customer service.

Trade over 400 assets, including 60 forex pairs, cryptocurrencies, commodities, indices, and over 300 US stocks. Leverage adjustable from 1x to 200x. New USDT deposit channel, trading 0.01 lot AUD/USD costs about $4.

IG Markets — Platform for professional traders

Supported systems: iOS / Android

Founded in 1974, a well-established platform, part of the FTSE 250 index, regulated by FCA, ASIC, FSCA, FSA, among others. Offers over 17,000 assets across 11 categories, up to 200x leverage, minimum deposit $300 (debit/credit card), Chinese customer service available.

Features proprietary web trading interface and mobile app, rich charting tools, also supports MT4, suitable for experienced traders.

Plus500 — CFD trading specialist

Supported systems: iOS / Android

Founded in 2008 in Israel, listed on the London Stock Exchange (LSE: PLUS), regulated by FCA, ASIC, MAS, FSCA, CySEC. User-friendly app, forex leverage up to 200x, minimum deposit $100, free deposits and withdrawals, Chinese customer service online.

Note: Inactive accounts (over 3 months) incur a $10 monthly fee.

FOREX.com — High leverage player

Supported systems: iOS / Android

Founded in 1999, a subsidiary of NYSE-listed StoneX (SNEX.US), regulated by major global financial authorities (FCA/ASIC/FSCA/CySEC/FSA). Leverage up to 1:400, moderate trading fees, offers multiple trading platforms (proprietary, MT4, MT5).

IC Markets — True representative of ECN model

Supported systems: iOS / Android

Founded in 2007, regulated by ASIC in Australia. As a genuine ECN broker, directly connects to liquidity providers, leverage up to 500x, minimum trade size 0.01 lots, minimum deposit $200. Easy deposit/withdrawal, mainly charges commissions.

Supports CTrader, MT4, MT5 platforms. Low spreads are a key competitive advantage.

XM — Paradise for high-leverage lovers

Supported systems: iOS / Android

Founded in 2009, regulated by FCA, ASIC, Belize IFSC, CySEC. Known for high leverage—up to 888x, minimum deposit only $5. Supports MT4/MT5, ideal for investors seeking high risk and high reward.

easyMarkets — Choice for TradingView users

Supported systems: iOS / Android

Founded in 2001, an early pioneer in retail forex trading, regulated by ASIC and CySEC. Max leverage 1:200, minimum deposit $100, over 175 tradable products. Higher account levels have smaller spreads.

If you’re used to analyzing markets on TradingView, easyMarkets allows direct trading through TradingView accounts—an exclusive convenience.

ThinkMarkets — A good choice for flexible investing

Supported systems: iOS / Android

Founded in 2010, regulated by FCA, ASIC, New Zealand FMA. Over 4,000 products available, forex leverage up to 1:400. Supports MT4 and proprietary ThinkTrader platform, mobile trading is also very convenient.

FXTM — Most comprehensive educational resources

Supported systems: iOS / Android

Founded in 2012, headquartered in Cyprus, regulated by FCA, CySEC, IFSC. Over 250 products (commodities, precious metals, forex, indices, crypto CFDs).

Especially notable for abundant activities and extensive educational resources, perfect for beginners. Forex leverage up to 2000x (cent accounts), minimum deposit $200. Multiple platforms including MT4, MT5, FXTM Trader App. Accounts inactive over 6 months incur inactivity fees.

ATFX — Young but professional contender

Supported systems: iOS / Android

Founded in 2015, headquartered in the UK, regulated by FCA and CySEC. Relatively young but rapidly growing, focuses on customer service and low trading costs. Leverage up to 400x, trading via MT4 (MetaTrader 4 App needed).

How to choose among these 10 forex apps? Comparison table

MT4/MT5 vs proprietary platforms, which to choose?

For ordinary investors, there’s no fundamental difference. MT4/MT5’s advantage is being supported by many platforms, favored by professional traders because they can customize with plugins. But this requires programming skills.

If you just want to trade without tinkering with tech, proprietary apps are often more user-friendly and straightforward. Instead of spending time on coding, focus on your trading strategies.

What auxiliary apps are essential for beginners?

For news and info:

• Jin10 Data (real-time financial data)
• Yahoo Finance

For analysis:

• TradingView (professional market analysis)
• Financial Square (economic data analysis)

How much capital do you need to start forex trading?

Good news—you can first try with a free demo account to experience trading rules and risks.

Forex trading mainly involves margin, so you don’t need to put in a lot of money. In principle, a few dozen dollars is enough to start. For example, with Mitrade, trading 0.01 lot AUD/USD at current prices costs about $4.

This means risks are manageable, returns are limited, but it’s perfect for beginners to learn. Start with a demo account risk-free, then use small real funds to experience live trading—this is the right learning path.

Disclaimer: The above information is from official websites and public sources. Please understand the details before investing. The platform rankings do not imply recommendations. Forex trading involves risks; please trade cautiously.