Because mobile trading apps are not meant to replace desktop trading terminals, some brokers don’t equip the mobile apps with high tech tools. This can be detrimental to most beginner traders who don’t use desktop platforms.
Our focus here is on apps offered by FSCA regulated brokers & apps with sophisticated tools built into them. In the table below we have compared the apps and listed their best tools/features & minimum deposit in ZAR.
List of Best Forex Trading Apps South Africa
Overall Best Forex Trading App in South Africa
Best Forex Trading App for Beginners
Best Economic Calendar on a Forex Trading App
Best Budget Forex Trading App in SA
Best Risk Calculator Tool on a Forex Trading App
Best Charts on a Forex Trading App
What do these forex trading apps have in common?
They were all developed by FSCA certified forex brokers, the apps support ZAR base currency accounts, they all have Demo Accounts for experimenting, & they all have Live Chat for customer support.
Ranking best forex trading apps in SA by min. deposit & features
| 🏆 Position | 📸 Name of Forex App | 📱 Device | 💰 Min. Deposit USD | 💰 Min. Deposit ZAR | ✨ Best Feature |
| 1 | Tickmill MT4 | Android & iOS | $100 | R1,900 | Expert Advisors |
| 2 | Exness Trade | Android & iOS | $10 | R190 | Charts |
| 3 | AvaTradeGO | Android & iOS | $100 | R1,900 | Economic Calendar |
| 4 | XM Trading Point | Android & iOS | $5 | R95 | Charts |
| 5 | HFM App | Android & iOS | $5 | R95 | Risk Calculators |
| 6 | FxPro Direct | Android & iOS | $100 | R1,900 | Charts |
Best Forex Trading App in South Africa:
Tickmill MT4 ($1,900 ZAR Starting Deposit)
Tickmill is a trusted South African forex broker holding dual FSCA licenses to act as a Financial Service Provider & an Over-the-Counter Derivative Provider (ODP).
Like every other broker, Tickmill offers MT4 but its trading conditions, specially designed MT4 Expert Advisor Kits, & large user base makes its MT4 the best for currency trading in SA.
Line Drawing Tools & Fibonacci Retracement Tool
On Tickmill MT4 charts you get various trend line drawing tools and indicators. There’s also the Fibonacci Retracement & Fibonacci Extension Tools available.
Expert Advisor (EA) use on MT4
Raw Spread Accounts are ideal for trading with EA programs and Tickmill’s Raw Account charges a typical EUR/USD spread of 0.1 pip, GBP/USD 0.3 pips, USD/JPY 0.1 pips, & USD/CAD at 0.2 pips.
The Tickmill Classic Account charges high spreads from 1.6 pips thus making it unsuitable for most EA trading (many EA programs work with low spread)
You don’t need to buy basic EAs from the MetaTrader Market as Tickmill has made some available to you for free. Download Tickmill EAs from their website; go to the “Tools” tab and click on “Advanced Trading Tool Kit”
How to Download Tickmill MetaTrader 4 & open an account
- Create a Tickmill user profile: do this by registering with your email address
- Choose your account: after your profile is registered, you will be prompted to choose a real or demo account. After opening your preferred account, you will get an email containing the name of the server you will connect to.
- Download Tickmill MT4 for Android or iOS: you can download Tickmill’s version of MT4 from their website. Just click on “platforms” & then select “MetaTrader 4”
- Connect to Tickmill Server: the first time you open MT4 it will prompt you to select the relevant server (which was sent to your email after account creation). After server is selected, tick the checkbox for “existing trade account” and then input login details and start trading.
| 👍🏿 pros | 👎 cons |
| Drawing tools | Charts are not equipped to show spread for the Tickmill Classic (Standard) Account |
| Fibonacci Retracement & Extension Tool | No in-app education |
| Automated trading with EA programs | |
| Raw spread pricing | |
| Multiple order types | |
| FSP & ODP license means app is very trusted legally | |
| MT4 installation support |
Best Forex Trading App for Beginners in SA:
Exness Trade App (190 ZAR Starting Deposit)
Inbuilt MT5 Terminal
You can access an inbuilt version of the popular MT5 platform from the Exness App. This enables you to quickly change trading terminal to MT5 without leaving the app
TradingView Charts
The Exness Trade App also has inbuilt TradingView charts with advanced drawing tools & technical indicators including Fibonacci Retracement. TradingView charts also let you trade from the charts.
So when you want to analyse the market with greater precision, you can simply switch to the inbuilt TradingView terminal from the settings tab.
Calculator
There are 2 calculations the Exness Trade App will perform for you that will save your time:
- Position size calculation: it shows you the total contract value of your position, then tells you the initial margin you need to put down for the trade to happen
- Pip Profit: it shows you how much you will profit or loss for every pip movement
Live Market Sentiment
The Exness Trade App displays the percentage of Exness traders who are buying & selling an instrument. This data is displayed for every instrument.
| 👍🏿 pros | 👎 cons |
| Inbuilt MT5 & TradingView terminals | MT4 accounts don’t work on the app |
| Excellent trend line drawing tools | App font size is small |
| Exness is an FSCA regulated broker | |
| Fibonacci Retracement & Extension Tool | |
| You can trade from the charts | |
| Good economic calendar tool with event volatility indicator | |
| Live sentiment tool | |
| Demo account |
Best Forex Trading Economic Calendar:
AvaTradeGO (1,900 ZAR Starting Deposit)
The AvaTradeGO app has good risk management tools and AvaTrade limits leverage to 1:400 max. The minimum deposit for AvaTrade is $100 but you can start by trying out the free demo account.
Economic Calendar (with artificial intelligence)
The AvaTradeGO app has the best economic calendar we have tested. It can use charts to compare past events with forecasted outcomes of the event.
It can also analyse historical impact of an event using charts, it can compare the current chart for an instrument with the historical chart.
It also suggests which instrument you should trade as per the event you are looking at on the calendar, & it lets you open a trade from the economic calendar and displays Risk to Reward ratio for the trade.
There’s also a filter function lets you sort events by importance, & by country/bloc such as G7, EU etc. The downside to the economic calendar is that you cannot set push notifications from the calendar
AvaProtect Tool
AvaProtect works for Forex & Gold CFD trades and when you activate it, any losses you incur will be refunded.
AvaProtect can be enabled for 1, 3, & 6 hours only and it requires you pay a subscription fee for the period it is active. The cost of using AvaProtect depends on the instrument being traded & the volume being traded.
We tested the AvaProtect tool, and 0.01 lots of EUR/USD costed $0.80 for 1 hour of protection while 0.01 lots of Gold costed around $4.53 for 1 hour of protection
Technical Indicators
Technical indicators are useful tools for detecting risky situations & confirming chart patterns. The AvaTradeGO app has been equipped with nearly 100 technical indicators.
The app lets you add more than one indicator and splits the screen, so you see how each indicator interacts with the charts. This helps prevent indicator overload which is one of the reasons many traders lose money.
| 👍🏿 pros | 👎 cons |
| AvaProtect risk management feature | No line drawing tools on charts |
| In-app education & welcome tour | No Fibonacci Tools |
| Extensive range of trading instruments | |
| Advanced economic calendar with artificial intelligence | |
| Live sentiment tool | |
| Demo account | |
| Screen split as you add multiple indicators | |
| FSCA regulated broker with ZAR base currency accounts | |
| Trade from any part of the app: You can open a trade while viewing the economic calendar, reading the news on the app etc. |
Best Budget Forex Trading App in SA:
XM Trading Point (95 ZAR Starting Deposit)
The XM Trading Point app is suitable if you intend to trade on a budget and risk little capital. XM is also one of the few brokers who still offer Micro Accounts where you can trade small quantities/volumes of any instrument thus making it beginner oriented.
On a Micro Account, your trade volume cannot exceed 1,000 units of any instrument. You can open & run a Micro Account (for small trades) or Standard Ultra-Low Account (for bigger trades) from the XM app with a $5 minimum deposit.
XM Copy Trading on the app
Again, if you are too busy to trade frequently you can use the copy trading feature to mirror trades of more experienced Strategy Providers (SPs). Copy trading is at your own risk because any losses the SP records will reflect proportionately in your account.
Advanced Charts & Indicators
The different line drawing tools, Fibonacci Retracement, Fibonacci Time Zone, and Fibonacci Arc/Fan are ideal for learning technical analysis using the XM app. There are also over 60 technical indicators & you can open/close a trade a trade from the charts.
| 👍🏿 pros | 👎 cons |
| MT4 & MT5 accounts can be used on the app | No live sentiment bar |
| Fibonacci Retracement & Extension Tool | Difficulty using line drawing tool on charts |
| You can trade from the charts (this feature is good for closing trades fast & securing profits) | |
| Advanced economic calendar tool with graphical analysis of events | |
| FSCA regulation | |
| Demo account |
Forex Trading App with Best Risk Calculator:
HFM App (95 ZAR Starting Deposit)
Trade within the HFM App using these accounts:
- Premium Account: spreads from 1.2 pip
- Zero Spread Account: spreads from 0.0 pip
- PRO Account: spreads from 0.6 pip
- PRO Plus Account: spreads from 0.2 pip
- Cent Account: spread from 1.2 pip
- Top-up Bonus Account: spreads from 1.4 pip & Bonus cap is $5,000
The minimum deposit to open an account on the HFM App is $5 or 95 ZAR
Calculator Tools on the HFM App
The HFM app has 5 important calculators which beginners will find useful.
| 🖩 Calculator | 🖩 Input | 🖩 Output |
| Position size calculator | Amount you want to trade with | Tells you the lot size to trade |
| Pip value calculator | Number of lots you want to trade | Tells you how much you profit/loss for every tick movement |
| Risk percentage calculator | Percentage of your account balance you want to risk | Tells you where to place your Stop Loss |
| Multi-target calculator | Stop loss & Lot size to be closed at certain intervals | Tells you which positions should be closed so you maintain a healthy risk to reward ratio |
| Pivot point calculator | Time frame on chart, OHLC prices | Tells you the support & resistance price levels |
Custom Order Entry
As you create a new market or pending order, your entries are shown in Amount, Lots, & Units. Custom order entry offers clarity and is a good feature for beginners.
| 👍🏿 pros | 👎 cons |
| App is compatible with MT4 & MT5 account types | No line drawing tools on charts |
| In-app education & webinars | Only few technical indicators are provided on the charts |
| Calculator tools for beginners | No live sentiment bar |
| Demo account | No Fibonacci Tools |
| FSCA regulation | |
| Low minimum deposit & ZAR base currency | |
| Extensive range of markets |
Forex Trading App with Best Charts:
FxPro Direct (1,900 ZAR Starting Deposit)
FxPro is a No Dealing Desk forex broker with trading accounts tailored for executing advanced strategies that require high speed execution.
Both MT4 & MT5 accounts work on the FxPro Direct App. The MT4 account is suitable for forex trading as it comes in 3 options: Raw spread, Standard, & Elite.
The MT5 accounts are more suitable for Stock & Indices trading as they come Hedging & Netting variants. ZAR base currency is provided, and leverage is capped at 1:200 (one of the lowest we’ve seen amongst brokers)
Daily Low & High Price Display
The FxPro Direct App always shows you the highest & lowest prices an asset has reached in real-time.
TradingView Charts
The FxPro Direct has inbuilt TradingView styled charts with various drawing tools, technical indicators which include Fibonacci Retracement. You can also open/close a trade from the charts.
High speed trading features: Buy & Sell from any part of the app
You can see the Buy/Sell buttons from the instrument menu, charts, & favourites list. From the instrument menu, you can input the number of lots you want to trade place your order speedily. The Buy/Sell buttons are also very large and easy to tap on.
| 👍🏿 pros | 👎 cons |
| TradingView charts | No live sentiment bar |
| Fibonacci Retracement & Extension Tool | No in-app education |
| Extensive range of tradable instruments including futures | |
| FSCA regulated | |
| You can trade from the charts | |
| ZAR base currency MT4/5 accounts work on the app |
Safety Tips for forex app download in South Africa
Beware of forex apps with similar names
Before you download a forex app in SA, ensure you know the correct name of the app to avoid downloading a wrong app. Some apps have similar names, and this can be confusing.
Table of forex trading apps with similar names:
| App provider | 📱 App 1 | 📱 App 2 | 📱 App 3 | Remark |
| Exness South Africa | Exness Trade | Exness Social | – | Exness Trade is for normal trading while Exness Social is for copying trades of other traders |
| AvaTrade South Africa | AvaTradeGO | AvaSocial | AvaOptions | AvaTradeGO is for normal CFD trading, AvaOptions is for trading CFDs on option contracts, & AvaSocial is for copy trading |
| FxPro South Africa | FxPro Direct | FxPro cTrader | – | FxPro Direct is for trading using MetaTrader accounts, while FxPro cTrader is for trading using cTrader accounts |
Avoid apk files from unknown sources
Android package kit (apk) app files are usually used to download apps when the playstore or apple store is unavailable in a certain region.
If your forex broker offers an apk version of the app on their website then it is safe for download, but avoid downloading apk files from external or copycat websites as they may contain fake versions of the forex app.
Always update your forex app
Your app will always prompt you whenever there a new version available so you can update it. Updates help improve safety & performance of the app and most updates contain new app features.
Forex Trading Apps Q & A Segment
| ❓Question | 👩 Answer |
| What is the best forex trading app for beginners in South Africa? | The Exness Trade App is goof for beginners because it supports low-cost trading & integrates TradingView charts. The XM Trading Point app is equally good for beginners because of its simple design, & good demo account which doesn’t expire frequently. |
| Can I open and delete a trading account from a forex app? | Yes, you can open a new trading account on a forex app and delete an existing account from the app. |
| Can I deposit & withdraw funds from a forex app? | Yes, deposit & withdrawal is integrated into forex apps. |
| Which broker gives welcome bonus on their app? | HF Markets, XM, & AvaTrade give welcome bonus accessible from their mobile apps. |
| Which forex trading app has the best economic calendar? | AvaTradeGO has an economic calendar with Artificial Intelligence |
| Which forex trading app has the best calculators? | HF Markets HFM App has the best risk calculator tools. |
| Which forex trading app has the best charts? | FxPro Direct App has the best charts which come with line drawing tools, lots of technical indicators, text, screen capture, playback feature, etc. |
| Which forex app has Fibonacci Retracement Technical Indicator? | TickMill MT4, Exness Trade, FxPro Direct, & XM Trading Point App; are all forex apps with Fibonacci Retracement Technical Indicator |
