Top Forex apps for Android and how to use them effectively

Forex is one of the most active financial markets in the world. This has generated demand from the community for mobile options to access the market. Luckily, the industry listened and now we have dozens of Forex apps for Android as well as iOS, helping traders stay on track even when they are not next to their desktops.
 
Considering that there are a lot more Android users in the world, it’s expected that there are more Android applications available, right? Not necessarily, but when it comes to Forex there’s more than enough to go around.
 
However, choosing the best one is very subjective to the individual trader. Therefore we will focus on the most objectively helpful apps that are available for Android right now. These are Forex Trading Game, Yahoo Finance, and Forex Calendar.
 
Yahoo Finance is definitely one of the best Forex trading apps for Android considering how quickly and effectively it delivers customized information to the user. It’s a perfect tool when the trader relies on news and market changes to place his or her trades.
 
Forex Trading Game is like a simulation of the Forex market without requiring the trader to register with a broker. It’s like a Demo account, which emulates the FX market but removes any restrictions that a broker demo account may have.
 
As for the Forex Calendar app, we can look at it as a compilation of the most relevant features of the market. Things like one’s portfolio and economic calendar can be tracked here, as well as some relevant market news and community outlook for a specific asset.

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Choosing FX trading apps for Android

One thing to consider about FX trading applications is that there is no limit on how many you can install on your device. If you find a top 5 list or a top 3 list, you’re not really restricted from having more.
 
One thing to consider would be your device storage, but considering the sizes of these apps, it should very rarely be an issue.
 
With that said, you should not download every single app you see. It is recommended by professionals to look at what the app provides, and make sure that you actually need it. Here’s a list of what’s usually paid attention to when it comes to Forex applications for Android.
 
  • Use cases - does the app have something useful? Or is it very generic?
  • Relevancy - The app will be useful no matter how much you know about trading
  • Price - if the app is not paid, then it should provide extra value compared to free apps


Usability of the app

The usability of the app is usually its main feature. For example, the Forex Trading Game has a very specific goal. It is designed to teach you how to place trades, what everything is in the market, how to manage risk and what strategies are available. It is designed in a way to make it look like a game, which makes the process of learning to trade easy.

 
In the case of Yahoo Finance, the main reason why it is considered the best Android app for Forex news is its very streamlined use cases. The app is designed for you to choose what type of news you want to receive. Other functions of the app are more like small perks rather than big features. This makes the goal of the app (helping you keep up with the news) much clearer to see.
 
The Forex Calendar is a bit different in this case because it is one of the few exceptions. It is a very general app that contains more than one functionality. Things like portfolio tracking, market news, and many other features would classify it as generic, but the way that it is structured helps traders focus on only one feature of the app, therefore still giving it specific use cases.


Relevancy

The main feature of a top Forex Android app is that it is useful for everybody. No matter your skill level it is always going to have some features that you are going to need. This is referred to as relevancy, meaning whether or not you will need to have this app installed when you reach a specific knowledge point in Forex trading.
 
The main app to be subjected to this question is, of course, the Forex Trading Game. Why? Because it is pretty much designed for beginners as a way to teach them about the basics of the industry, so a professional would not really need it, right? No, the main reason why that trader is a professional is that they always try new things and always refresh their memory on the knowledge they have. This is one of the reasons why the Forex Trading Game is a beloved FX Android app by both beginners and professionals, and why it is one of the most relevant ones.

Yahoo Finance is probably the most relevant app that a trader can have on his or her phone. No matter how much skill you gather in the market, if you are not up to date with industry news, no market sense or experience is going to help to make the right call. Market news is the source of strategies, it is the source of almost every trade which is why both beginners and professionals use Yahoo Finance. Plus it’s not like there are thousands of options to filter the news, but Yahoo Finance provides this feature.
 
Forex Calendar also shares most of the features with Yahoo Finance. It is also a source of news and insights, but it is also a handy tracking tool. When a trader starts to trade FX on Android they always need to keep an eye on which trades they have open so that planning ahead is easier. This exact same feature applies to professionals as well. In fact, it applies to professionals on a much deeper level. When you’re a beginner, most of the time you’ll have one or two trades open, while professionals tend to have dozens open at the same time, so they need to track it more effectively.
In terms of relevancy, the Forex Calendar app becomes more and more relevant as the trader gains experience.


Price

Price is something that you will very rarely encounter when looking for an FX Android app, especially in the future. However, if people do find out that an app they want has a price, then they usually approach it more responsibly. Since they are paying for it, it needs to be exactly what they want.
 
With a free app, it’s easy to risk it and just download to see what it’s like. If you don’t like it you can simply delete it and that’s that. With paid apps, more research and information is required. Fortunately, though, none of the three apps we have mentioned here have a cost, they’re all free.

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Best Forex trading apps for Android - key takeaways

The key takeaways about Android apps for Forex are that they have very little risk associated with them. Most of the apps are free and can be downloaded within seconds. There is no limit on how many you can download, but to stay effective professionals usually use only a couple of apps besides their main FX trading software.
 
Every app has its own purpose even if they have a lot of features. Don’t be surprised if you find out that an app that was recommended because of 1 specific feature, has 20 more of them on the side.
 
No matter what though, these apps will prove to come in handy at some point in your trading career.

FAQ on Android FX apps

Does every Android app have an iOS version?
Show answer
In most cases, Yes. More than 90% of the apps will usually have an iOS version as well because the developers want to have as many users as possible. It is extremely rare to see an app designed specifically for Android or any other platform.
 
In the case of the 3 apps from the article, they do indeed have iOS versions as well.
Where can I download these apps from?
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All of these apps can be found on the Google Play Store. But, considering that there are a lot of FX-related apps, finding them could be a bit of a hassle. If you can’t seem to find your Android Forex app of choice then the next best thing to do is go to the developer’s website and download straight from there.
 
It is very rarely a manual download as the website will just redirect you to the app on the Play Store.
I can’t find the app in the store - what do I do?
Show answer
One reason could be that there are simply too many apps with the same name. Try going to the developers’ website and downloading from there. If that still does not work, that may mean that the app is not supported in the region where you live.
 
There’s no need to worry here. Almost every Forex for Android app has an APK version that you can download no matter where you are in the world. Simply google *app name* APK and choose the most trustworthy site you see.
Do I need the latest Android device for these apps?
Show answer
No. Most of these applications will run on slightly older devices as well. But, make sure to check if the developer themselves is recommending users a specific device or update. Usually, there’s no issue with running the app on any device, it’s just about the speed and ease of use at that point.

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