Based on the results of the analysis, the list of the Best Forex Trading Apps for 2022 was compiled and published on the Traders Union website. The brokers with the most beneficial conditions and the highest level of customer service lead the rating.
Best Forex Trading Apps for 2022 by Traders Union analysts
The team of Traders Union experts evaluated brokerage companies using a number of criteria covering various aspects of their operation. The following companies topped the rating of the Best Forex Trading Apps for 2022.
RoboForex is an international broker licensed by CySEC. Over 3.5 million traders from 169 countries use the services of the platform. The broker offers a full range of services for beginners and professional traders. The minimum deposit is $10. The broker offers leverage up to 1:2000, and narrow spreads from 0 pips. During registration, clients can choose one of 5 types of trading accounts, including the cent account. The broker opens wide opportunities for passive investors on the CopyFx copy trading platform.
EXNESS is a popular brokerage company with extensive experience. The broker’s operation is regulated by the CySEC, FCA and FSA. Clients have access to a wide list of investment assets and different types of trading accounts. The broker offers beneficial trading conditions: $1 minimum deposit, leverage up to 1:2000, instant order execution and quick withdrawal to a card. The Exness brokerage company is an attractive option for traders with deposits under $1,000.
Forex4you is a large broker with 15 years of experience. The company is licensed by the BVI FSC. There are several types of trading accounts, including the cent accounts, on the Forex4you platform. Clients can trade different instruments of the Forex, stock and commodity markets. Also cryptocurrency transactions are available. The minimum deposit is $1, leverage is up to 1:1000, and the spreads are floating from 0.1 to 2 pips. There is the Share4you copy trading service for passive investors.
AMarkets is an international ECN broker. The company is popular among traders in Europe and the CIS. The broker provides access to trading dozens of currency pairs, cryptocurrencies, assets of the stock market and commodities. The minimum deposit is $100, the leverage is up to 1:3000 and the spread is from 0.1 pips. The AMarkets broker is developing algorithmic trading. The platform offers a service for building and testing expert advisors. In order to earn passive income, investors can connect to the copy trading service.
Admiral Markets is an international Forex broker with high level of service and attractive trading conditions. The broker’s operation is regulated by the CySEC, FCA and ASIC. The minimum deposit is $1, leverage is up to 1:500 and the spread ranges within 0-0.5 pips. The broker’s clients can take a free educational course in trading. Also, quality analytical materials are available.
How do Traders Union experts evaluate Forex Trading Apps?
TU methodology, an official document drawn in compliance with the international auditing standards, serves as the basis for expert evaluations by TU.
Criteria groups in the TU methodology:
- Customer group evaluates all aspects of customer service of brokerage companies.
- Service group determines the level of competitiveness of a brokerage organization, taking into account the company’s influence on other market players.
- Reputation group monitors the level of transparency of a broker’s operation, quality of feedback and the level of customer satisfaction with the quality of provided services.
- Financial and economic groups are the basic ones; they monitor financial indicators and economic aspects of the operation of the brokerage companies, and also track the dynamics of their development.
Comprehensive approach to analysis provides a high level of objectiveness and reliability of the results of the analysis performed by Traders Union experts.
What is Forex?
What is Forex? Practically every novice trader asks this question. The International Forex market is a huge platform, where all currencies of the world are traded online; every minute hundreds of financial transactions are executed in this market and the daily trading volume reaches billions of US dollars. The currency prices change all the time and Forex market participants earn on the difference of quotes, by buying and selling currency lots.
Banks, investment companies and brokers provide access to Forex for traders acting as intermediaries. Brokerage companies offer their clients a full suite of tools for trading in the Forex market. When registering an account, traders download trading software and install a trading platform, receiving access to quotes in real-time mode, instruments of technical analysis and a possibility to perform buy/sell transactions of the chosen quantity of a currency. Clients of brokers can also use the services of customer support operators and have access to additional services, such as an economic calendar, financial calculators, VPS services, etc.
In order to trade successfully in the long term, it is important to choose a reliable brokerage company with a good reputation and excellent customer services. To save you time and money required for comparing and choosing a broker, Traders Union analyzes the operation of brokers and publishes the latest rating of the Best Forex Trading Apps for 2022 on the Union’s official website.
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