What is the best forex trading app?
Verdict
- For forex, Pepperstone is our pick: published averages of 0.1 pips on EUR/USD, 0.2 on GBP/USD and 0.3 on USD/JPY on Razor, across MT4, MT5, cTrader, TradingView and its own app.
- Pepperstone's account tables count 93 forex pairs (data from March 2025), and cTrader charges the lowest Razor commission at $3.00 per side.
- XS is the closest rival on price: 0.1 pips on EUR/USD on its Elite account with a $6 round-turn commission, on MT4, MT5 and its own app, from $500.
- Capital.com offers its own app, MetaTrader and TradingView, but publishes no EUR/USD average in our data.
A forex app has to do three things well: show you a tight, honest price on the pairs you trade, execute quickly, and give you the tools your strategy needs. On published numbers Pepperstone covers all three best for a trader in the UAE, and it lets you choose the platform rather than forcing one on you.
Pepperstone: the forex app with the widest choice of engines
Pepperstone does not tie forex traders to a single app. On its Razor account you can trade the same pairs on Pepperstone's own app, MetaTrader 4 or 5, cTrader or TradingView. Spreads are published as averages per pair, and commission depends on the platform: $3.00 per side on cTrader, $3.50 per side on MT5, TradingView and Pepperstone's platform, and $7 charged at opening on MT4. Pepperstone says its fills start at 50 milliseconds with a 99.32% fill rate and no dealer intervention. For UAE residents the account can be held in AED, and retail leverage on major pairs goes up to 1:200 under its Bahamas-licensed issuer, Pepperstone Markets Limited.
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Which app for which forex trader
| Platform | Razor commission (FX) | Best for |
|---|---|---|
| cTrader | $3.00 per side | Lowest commission; C# bots via cTrader Automate |
| MetaTrader 4 | $7 charged at opening | Existing MT4 expert advisors; Smart Trader Tools |
| MetaTrader 5 | $3.50 per side | EAs on MT5; available on Standard and Razor in the UAE |
| TradingView | $3.50 per side | Charting and trading from the same screen |
| Pepperstone app | $3.50 per side | Checking and managing positions on the move |
Average spreads on the major pairs
Pepperstone publishes averages for both account types. On Razor: EUR/USD 0.1, GBP/USD 0.2, USD/JPY 0.3 pips. On Standard, with no commission: 1.1, 1.2 and 1.3 pips. Gold, often traded alongside forex, averages 0.12 on Razor and 0.19 on Standard. For comparison, FP Markets publishes 0.11 on EUR/USD and 0.33 on GBP/USD for its Raw account, and XS publishes 0.1 on EUR/USD for Elite. Averages are a guide, so check the live spread at the hours you actually trade.
Smart Trader Tools and automation
MetaTrader users at Pepperstone get its Smart Trader Tools add-ons, including Trade Terminal, Mini Terminal, Correlation Matrix and Trade Simulator; Pepperstone describes the suite as 28 apps on one page and 60+ on another, so treat the count loosely. cTrader users can build automated strategies in C# with cTrader Automate, and Pepperstone also supports API trading and expert advisors on MT4 and MT5.
Sources
From Pepperstone's and XS's own pages.
Which Pepperstone platform is cheapest for forex?
cTrader, at $3.00 commission per side on forex, or about $7 per round-turn lot of EUR/USD including the 0.1-pip average spread.
Can I use expert advisors on Pepperstone's forex app?
Yes, on MT4 and MT5, and cTrader supports automated strategies through cTrader Automate.
Is the XS app cheaper than Pepperstone for forex?
On EUR/USD they are level: XS Elite and Pepperstone Razor on cTrader both work out at about $7 per lot. XS needs $500 to open Elite and has no AED account.
Forex is traded here as leveraged CFDs, which are complex and carry a high risk of losing money rapidly. Spreads are published averages and will vary; no app removes market risk. Information only, not advice.