Forex Trading Apps in South Africa have increased in popularity. This is because Forex Apps provide traders with the best trading experience. Forex Trading App helps Forex traders analyse currencies, access real-time data, read market news & trends and place orders of trades anywhere and anytime. As a trader, you need Forex trading apps South Africa because they are efficient and effective for currency traders. With the best Forex Trading Apps available for South African traders, they can manage their Forex portfolio, Forex trades and budget. Having the best FX trading app also gives you peace of mind knowing that you can make trades anywhere through the mobile app. Today, there are many trading apps designed for Forex traders in South Africa. The purpose of this article is to give you some information about the best Forex trading apps available in South Africa and also highlight key features and services provided to Forex traders.
Best Android and iOS Forex trading Apps in South Africa for 2020
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In South Africa
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In South Africa
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Why do I need Forex Trading App?
The best Forex trading apps in South Africa have become increasingly accessible through the use of apps for mobile devices such as tablets and smartphones. This is of critical importance because the Forex exchange market plays a pivotal role in daily business. According to research from the Bank for International Settlements, Forex is the world’s most traded market, with turnover of $5.3 trillion per day. Businesses, financial institutions and individual traders trade currencies in this market.
List Of The Best Forex Trading Apps in South Africa
These are some of the best Forex Trading Apps available in South Africa. These Forex Trading Apps Download can be found on iOS or Google Play Store.
FXTM Trader App
Best Trading App in South Africa – FXTM forex trading app can help you open and close positions in seconds, access live currency rates, manage your trading accounts, and stay one step ahead of the markets. You can access over 250 financial instruments including FX, indices, commodities, equities and cryptos, including major and minor currency pairs.
AvaTradeGO app is one of the best trading platforms on the market. The app features over 250 Forex and CFDs trading instruments including the world’s top forex pairs, commodities, stocks, cryptocurrencies and more.
IG Trading App
Best Forex Trading App in South Africa – Trade over 16,000 financial markets with ease, wherever you are – including forex, shares, indices and commodities.
MetaTrader (MT4) is the world’s most popular mobile trading app. You can trade financial instruments such as Forex, CFD, Futures, Options and Stocks from your smartphone or tablet.
Top Forex Trading App – the TD Ameritrade Mobile app allows traders to track and trade stocks, options (up to two-leg strategies), options chains, and exchange-traded funds (ETFs), and even check your order status when on the go. Keep up on the market with price alerts, real-time streaming quotes, helpful charts, Level II quotes, News, and the Today widget
Best Mobile App – ThinkTrader Trading App gives instant access to Forex & CFD trading, including major and minor forex pairs, over 1,000 stocks, 14 indices, precious metals, commodities and cryptocurrencies.
Best Mobile Trading App South Africa – gives access to stocks, futures and options trading – or even into monitoring cryptocurrencies. TradeStation also allows you to track your trades and watch the market in a safe and secure manner.
NetDania Global Stock and Forex Trading App
NetDania Forex & Stocks is the World’s #1 Forex & CFD Trading App. It features 20,000+ Financial instruments, 10,000+ Real-time stocks and indices and 2,200+ Currency pairs.
Admiral Markets App
Admiral Markets App is simple and secure. It gives you access to an extensive product offering – CFDs on Forex currency pairs, stocks, indices, commodities, cryptocurrencies, and ETFs.
The Yahoo Finance App is the best Forex Trading App in SA. Yahoo Finance is a free stock tracker for Android. This investing app allows you to follow the stocks and shares you care about most and get personalised finance and business news and alerts. You can cccess real-time stock exchange information, stock quotes, and financial updates to stay on top of the market.
IQ Option Forex
IQ Option is an award winning mobile trading app. IQ Option Forex Trading App provides clients with an opportunity to trade 500+ assets: including Forex, CFDs on Indices, Commodities and Stocks
TD Ameritrade’s Thinkorswim Mobile
Best Trading App South Africa – thinkorswim Mobile app allows traders trade stocks, complex options, futures, and forex. Create and modify advanced orders and add order conditions quickly and easily.
Features of the Best Forex Trading Apps
There are some key features that every trader should check out before getting started with the Forex trading app. Here are some of the best Forex trading Apps in South Africa.
- Customer Support – A good Forex Trading App must give you access to customer support. You can contact support team either by live chat or VOIP call.
- Security – Trading security is one of the most important features of the best trading app. You want to make sure that your money is secure on the app.
- Full Functionality – The mobile app should match the same functionality as the desktop version to give you the best trading experience.
- Real-Time Updates – The best Forex app South Africa should give you real-time up-to-date value information in order to complete your trades.
- Trading Education Resources – The best forex trading apps offer useful information on the technical side of trading as well as the latest international news and editorials.
- Standard Funding Options – Both deposit and withdrawal options must be available in the app.
- Fast Execution Speed – Make sure that the app provides the trade and streaming speed that you need to complete your Forex trades.
- Types Of Orders – Ensure that the trading app supports all types of orders.
- Full Variety of Assets – Top Forex Trading App must have all the assets available on the desktop version.
Benefits of Forex Trading Apps
Forex Trading Apps come with lots of benefits that one can enjoy. Although Mobile Apps give a different trading experience compared to desktop, they are preferred by many Forex traders in South Africa. Below are some of the benefits of Forex Apps.
- Mobile Apps Are Faster – One of Forex Apps’ benefits is the speed. Mobile Apps are faster compared to desktop platforms.
- Push Notifications and Instant Updates –You can enable notifications so that you can receive latest information or news.
- Convenience – Mobile Apps provide a convenient way of trading. You can access breaking news, market news and economic data which affect the market.
- Trade On the Go – Forex Trading Apps allow traders to trade currencies on the go. You can simply login to the app and start trading or checking updates.
Disadvantages of Forex Trading Apps
While Forex Apps come with lots of benefits, they also have disadvantages. Below are some of the disadvantages of Forex trading apps.
- Screen Size – the size of your screen can limit amount of analytical tools that may be used on a mobile device at any given time.
- Overtrading – having access to your mobile forex trading can be a blessing and a curse at the same time. You might end up overtrading because you can access your account anytime and anywhere.
- Connectivity – Mobile Forex Apps require internet connection. Always make sure that you have data or always connected to the internet. Poor internet connection can make some trades almost impossible.
How to use a Forex Trading App?
It’s very easy to trade currencies on the market using a mobile Forex trading app. Below are the steps you need to follow in order to download and use a Forex app.
- Go to the Google Play or App Store and search for the app.
- Install the app on your smartphone.
- Once it’s installed, login into an existing trading account with your account number and password. If you don’t have an account yet, make sure you register for an account.