Forex trading on a Mac is a little more complicated due to the lack of platforms and software that support macOS.
We’ve taken a look at the best forex trading platforms and software for Mac in 2020 to help you trade forex on your Mac.
After extensive research, we found the best forex trading platform for Mac users is the excellent IQ Option.
IQ Option is one of the few day trading platforms that has a solid Mac desktop app but also offers tight spreads, fast trade executions and lots of profit-loss risk management tools.
Alongside IQ Option we also recommend using the incredibly powerful but accessible “social trading” forex charting tool TradingView which is free and easy enough for anyone to use.
When it comes to forex charting and technical analysis, nothing does it better than TradingView and it also has a very active community of forex traders of all abilities.
In fact we rated TradingView as the best alternative to MT4 for Mac as MetaTrader is not available for macOS.
Before going on, it’s important to understand that there’s a difference between forex trading platforms and forex trading software.
Forex trading platforms include those such as IQ Option are run by brokers that allow you to trade forex instantly online. They also offer their own forex trading apps and technical analysis tools to help you trade.
Forex trading software (also referred to as forex charting software) such as TradingView usually only allow you to perform Technical Analysis (TA) of the forex market.
However, TradingView now allows you to connect to a broker so that you can trade directly from it too. So although it’s not strictly a forex trading platform, it does now allow you to trade the FX market via a broker.
Other examples of popular forex charting tools that work on Mac include cTrader and ThinkTrader.
A few other things to consider when choosing which forex platform to use on Mac are:
- Customer Support: Does the broker respond quickly to questions, problems or issues with the trading platform? Does the broker offer a toll-free number in case of major issues or problems?
- Profit Withdrawals: How long does it take to withdraw trade profits. This is usually a few business days but all brokers have their own policy on withdrawals.
- PAMM Services: PAMM (Percentage Allocation Money Management) is when traders pool money together to trade. You’re basically taking advantage of more experienced brokers to trade money for you although not all forex platforms offer this feature.
- EU Sign-Up Bonuses: Note that from January 2018, brokers that are regulated in the EU are unable to offer sign-up bonuses to customers. This is because of MiFID legislation which is aimed at creating more transparency and protection for traders.
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With this in mind, here is our list of the best forex trading platforms and software for Mac in 2020:
Not Available In the USA
Although IQ Option is an all round stock and forex trading platform, it’s so good on macOS that it deserves to rank highly on any list for forex tools for Mac users.
IQ Option not only has an excellent Mac desktop app but most importantly, it’s a fantastic trading platform to use.
IQ Option is the best trading platform we’ve seen that balances professionalism with ease of use.
Although you can use IQ Option, the Mac desktop client is faster and more convenient than having to use it in your browser.
IQ Option has been around since 2013 and has grown rapidly to allow trading in over 400 assets including Forex, stocks via CFDs (Contract For Differences) and cryptocurrencies.
Even better, IQ Option is currently in the process of becoming a Forex broker which means you will soon be able to use the platform to trade on the Forex market directly without the need for an external broker.
IQ Option feels extremely professional but it’s also very easy for newcomers to learn. There’s a very active community of knowledgeable traders that you can chat directly with and share trading tips.
The minimum deposit is $10 (or equivalent currency) which is considerably less than other trading platforms like eToro and you can trade with a minimum of $1 (or equivalent).
You can also trade with leverage of up to 1:30 and it’s fully regulated by CySEC.
The maximum deposit you can make is $1,000,000 per day and the maximum investment you can make in a trade is $20,000. Another thing we like is that there’s no minimum withdrawal requirement.
If you deposit through a card, you can only withdraw the same amount that that you invested via the card.
However, you can also use an eWallet for withdrawals for which there are no limits.
There’s also an IQ Option mobile app for both iOS and Android for trading anywhere.
One thing that’s refreshing with IQ Option is that there’s no hard sell like there is with some platforms. Often when you open an account with a trading platform but don’t deposit anything, you receive cold calls asking why.
This doesn’t seem to be the case with IQ Option and the quality of the platform really sells itself.
IQ Option is available Worldwide but not in the USA yet.
You can open a free $10,000 demo account with IQ Option to judge for yourself.
You can also read our IQ Option review for a more in-depth look.
For those interested in FX Options, IQ Option also has an excellent FX Option platform that’s extremely easy to use and understand.
The FX Option platform allows you to invest from a minimum of $25 and there’s some of the best tutorial videos you’ll find on how to trade FX Options.
You can open a free $10,000 FX Option practice account to try it for yourself.
- Great Mac desktop app
- Tight spreads
- Fast trade executions
- Slick and well organized
- No MT4 integration (although no broker can offer this on macOS Catalina anyway)
- No robo-traders
Available In The USA
TradingView is an incredibly popular community driven web-based stock and forex charting software that offers an easy to use way of tracking and analyzing forex currency markets.
TradingView combines social networking with complex technical analysis tools making it good for both experienced traders and beginners to Forex trading on Mac.
TradingView has rapidly risen from just a few thousand users in 2012 to around seven million users today, mainly thanks to its wide array of charts and community driven content.
TradingView is so good that many other major stock trading resources such Investopedia are integrated with TradingView for Forex trading analysis on Mac and PC.
The amazing thing about TradingView is that most of its features are completely free to use.
One of the biggest problems for Mac users is that MT4 for Mac doesn’t exist and since the release of macOS Catalina, it’s become more difficult to use any version of MetaTrader on a Mac.
The boring technical reason for this is because macOS Catalina only supports 64-bit applications and MetaTrader is an ageing 32-bit application.
We’ve found found that TradingView is the best alternative to MT4 on Mac. From greater control over timelines to ease of use, TradingView is better than MT4 in almost every way.
Although TradingView used to be only for doing technical analysis of currency movements, you can now link it to third party brokers such as Oanda and TradeStation to trade forex too.
The TradingView Forex page provides a clear overview of the most important global developments in the currency markets with the real-time value of major currencies such as USD, Euro, JPY and GBP immediately visible.
There’s also a convenient Economic Calendar of important events and news feed for the latest currency news.
You will also see commentary from top traders giving advice and tips on currency movements and potential trades.
Although it’s free to sign-up for TradingView with most features included there are also Pro, Pro+ and Premium plans starting at $9.95 per month.
However, you can currently get up to 50% off TradingView if you pay with Bitcoin.
The main advantage of the plans is they provide faster real time data, a wider range of real-time stats, more intraday reports and you can have more charts per tab open.
The paid plans also remove all ads and feeds for NASDAQ, NYSE and NYMEX are also included.
Basically the faster you have information and the more of it you have, the more your chances of making a profit on trades so the Pro plans are definitely worth it if you’re planning to trade forex seriously.
You can try a 30 day fully functional free trial of all TradingView Professional and Premium versions with no credit card required.
If you want to harness the knowledge and experience of thousands of other forex traders, TradingView is a remarkably effective tool to keep ahead of Forex market trends and developments.
- Free to use
- Amazing range of charts
- Integrated with broker platforms so you can trade the market
- Active community of traders
- Lots of control of time frames
- Great alternative to MT4
- Easy to use
- Doesn’t work with all forex broker platforms
Not Available In The USA
76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Plus500UK Ltd is authorized & regulated by the FCA (#509909).
Plus500 is an incredibly popular web-based CFD trading platform which allows you to trade CFDs on underlying instruments including forex, stocks, commodities, options and indices.
Plus500 allows you to trade the most popular forex pairs like EUR/USD, GBP/USD and EUR/GBP. It also offers a range of advanced trading tools to protect profits and limit losses.
Although there is only a desktop app for Windows, the web version looks great on Macs and is very responsive.
CFDs are more complex than Binary Options and so Plus500 will appeal more to those that have trading experience but it offers some of the tightest spreads in the industry.
It’s also extremely well regulated as Plus500 is not only registered with the Financial Conduct Authority (FCA) in the UK but also CySEC, ASIC, FSCA, FMA, MAS and the ISA. This covers the UK, Cyprus, Australia, New Zealand, Singapore, South Africa and Israel.
In the UK, there is the additional guarantee that if Plus500 went bankrupt, funds of up to £50,000 may be protected under the Financial Services Compensation Scheme (FSCS).
There’s an iOS and Android app for trading on the go and the Android app has been downloaded over 5 million times according to the Google Play store with an average rating of 4.1 out of 5.
If you’re looking for a CFD trading platform that’s strongly regulated with very competitive spreads, Plus500 is arguably the best way to trade CFDs on Mac.
Plus500 allows you to trade with a free demo account until you are comfortable trading.
You can also check our full Plus500 review for more.
- Very well regulated
- Tight spreads
- Web version looks great on Mac
- Covered by FSCS in UK to protect funds
- No Mac desktop client
Not Available In The USA
What we like about Fortrade is it makes the often complex world of Forex trading extremely simple making it ideal for beginners to forex.
Fortrade has an excellent Mac desktop application which looks great on macOS and keeps things really clean and simple.
You can also use Fortrade online and everything syncs with the Mac desktop client. There’s also a slick mobile app for both iOS and Android.
Fortrade is safe to use and authorized and regulated in the UK by the FCA (Financial Conduct Authority).
For beginners, there are a wealth of learning resources on Fortrade to help you get up and running but there’s more than enough customization possible for experienced forex traders too.
Fortrade does not charge commissions on trades but requires a $200 minimum deposit to open an account.
Spreads are tight and competitive with leverage rations of up to 1:30 available.
At the moment you can use Fortrade in English, German, Spanish, French, Croatian, Italian, Dutch, Polish, Portuguese, Slovene, Swedish, Russian, Arabic, Albanian and Macedonian.
Customer support is via phone or live chat between 9am until 9pm UK time.
You can also try a free $10K Fortrade demo account.
- Slick Mac desktop client
- Lots of forex teaching resources
- Leverage rations of up to 1:30
- $200 minimum deposit
- Customer support limited hours
Not Available In The USA
FXTM is a well organized and easy to use day trading software that specializes in Forex trading and CFDs.
Some of the highlights of FXTM include tight spreads, fast trade executions, lots of forex trading tools and lots of in-depth market analysis.
FXTM is particularly good for beginners to forex and CFD trading as it hosts several webinars and training seminars
FXTM has it’s own version of MetaTrader which you can download on your Mac although like all broker versions of MetaTrader, it doesn’t work on macOS Catalina due to the lack of 32 bit support (more on this issue here).
There are also mobile apps for iOS and Android to trade from.
FXTM offers leveraged trading depending on your experience and there are three types of account: Standard for general trading, Cent account for smaller trade sizes and an ECN Zero account with no commissions, no re-quotes and tighter spreads.
Note that FXTM is not available in the USA, Mauritius, Japan, Canada, Haiti, Suriname, the Democratic Republic of Korea, Puerto Rico and the Occupied Area of Cyprus.
You can sign-up for a free FXTM demo account to try it for yourself.
- Specializes in Forex and CFDs
- Leveraged trading options
- Trading seminars and webinars
- No Mac desktop app
Cryptocurrency Trading Available In the USA but not Forex
eToro is one of the biggest stock trading platforms out there with an estimated 5 million users and covers just about every major trading asset including the foreign exchange market.
Unfortunately Forex trading is not available in the US version of eToro yet (it only supports crypto trading) although it’s expected to be rolled out in 2020.
What makes eToro different to most Forex trading platforms is that it focuses on connecting traders in order to harness collective experiences and knowledge in stock trading.
eToro could be described as a “social network stock trading tool” which aims to pool the experience of traders so that everyone wins.
If you imagine what would happen if you mixed Facebook with a stock trading platform, then you get a good idea of what eToro is like.
The main way it does this is through the eToro OpenBook application which employs a “CopyTrader” system that copies the trades of expert traders.
This is not only potentially very profitable for you, but also an excellent way for beginners to learn the ropes of Forex trading.
You can even copy the entire portfolio of the most successful traders, or just their Forex portfolio if they have one.
Note that you can only use a maximum of 40% of your capital on copy trades but you can set limits on when to stop copying if losses exceed a certain amount.
Be very careful when selecting a trader to copy however as some may appear more successful than they actually are or are using very little capital in the hope that others will copy them and they’ll earn commission off it.
Many of the traders on eToro appear to be quite high risk traders which carries with it high potential returns but obvious risks too.
Also look for “verified traders” as those traders use their real identities ad verified by eToro and therefore you reduce the risk of following “fake” profiles.
If you’re a successful Forex trader, you can even earn commission on traders that copy you through the Popular Investor Program.
Apart from Forex, you can also trade Indices and Commodities (CFDs) using eToro and traders on eToro tend to be focused on one particular asset.
eToro is certainly one of the best Forex trading options for beginners on Mac and the social trading element is ideal for trading novices. eToro is also very fast being completely based on HTML5 with no laggy Flash or Java to slow it down.
Trading fees for eToro vary on a daily basis and you can check the latest Spreads and Fees here although in general, you may get better spread rates from other brokers as eToro is generally on the top side of spread rates.
You can open an account with as little as $50 although this can vary from region to region.
As mentioned earlier, at the moment not all of eToro is available to US based users but it does now allow cryptocurrency trading on Mac for clients in the USA.
You can open a virtual eToro account for free with $100,000 and try it for yourself.
For a more detailed look at eToro, we recommend reading our full eToro review.
- Incredibly easy to use
- CopyTrader system for beginners
- Huge, active community of traders on all levels
- Only supports Crypto trading in the USA at the moment
- Forex charting tools limited
- Not the best spreads
XM is a multi-asset platform but its forex trading software is one of the best out there.
XM is one of the few platforms that allows you to use the Windows only Metatrader software by adapting it to work on Mac (although this is not supported in Catalina – see here).
XM allows you to use both MT4 and MT5 on Mac and enables you to seamlessly continue trading on MT4 or MT5 on a mobile device too.
XM has very tight spreads (as low as 0 pips in some cases) and there are no hidden commissions or charges.
XM is regulated by the FCA in the UK, ASIC in Australia and CySEC in Cyprus so it’s also one of the most highly regulated trading platforms you can use.
Apart from Forex, XM allows you to trade most other financial instruments including CFDs on Stock Indices, Commodities, Stocks, Metals, Energies and Cryptocurrencies.
XM offers 3 types of account: Micro, Standard and Zero accounts which vary in cost based on the amount of trading you want to do.
It’s always a good idea to paper trade before trading for real and you can sign-up for an XM demo account with $100,000 virtual currency.
- Regulated in several countries
- Supports MT4 (but not on macOS Catalina)
- Tight spreads as low as 0 pips
- Not very user friendly
- No Mac desktop client
AvaTrade specializes in Forex and has got it down to a tee.
It’s easily the most well balanced Forex trading for Mac users in terms of ease of use for beginners and professional tools and analysis for seasoned Forex and CFD traders.
AvaTrade feels slick and professional but never intimidating or overwhelming when it comes to Forex.
It’s also one of the best when it comes to cryptocurrencies with Bitcoin and Ethereum trading included but also up and coming cryptos such as Litecoin and Dash.
For Mac users, AvaTrade is also integrated with the web version of MT4 which looks great on Mac in any browser and is also available as an iOS app.
You need a minimum deposit of $100 to sign-up for AvaTrade but you can try AvaTrade for free to judge for yourself.
- Suitable for forex traders of all abilities
- MT4 integration for macOS Mojave and below
- Regulated across 6 jurisdictions
- Minimum deposit of $100
FXCM Trading Station is a user-friendly but powerful dedicated Forex trading platform that offers lower commissions the more you trade.
FXCM Trading Station also guarantees do Dealing Desks – all trades are executed instantly.
FXCM Trading Station also offers a handy Smart Margin Watcher which monitors your positions and alerts you if your account equity drops below a certain limit or if the market moves against you.
FXCM Trading Station is straight talking, with clear and easy to understand advice on Forex trading.
If you’re looking for something powerful with a strong 20 year track record, FXCM Trading Station is a great choice.
- Fast trade executions
- Lots of customizable alerts
- Offers customized Ninjatrader app
- 20 year track record
- No Mac desktop client
Oanda (formerly known as Currensee) is an award-winning currency trading platform with no minimum trade size and no minimum deposit.
You can trade on over 100 different instruments including currency pairs (Forex), indices, commodities, bonds and metals.
Oanda is also one of the few Forex trading platforms to offer a Mac desktop app, although all it effectively does is retrieve the web version without using the browser.
It’s also integrated with TradingView meaning if you sign-up for a TradingView account, you can link it to Oanda to trade the FX market in real time.
One of the ways Oanda sells itself on its pricing transparency meaning there are no added commissions on your trades and unlike many Forex trading platforms, no minimum trading amounts.
Oanda doesn’t offer much in the way of advice when it comes to Forex trading but it does have a some very good free Forex training tutorials via the Oanda Academy.
Oanda puts a strong emphasis on being transparent with customers and adhering to regulations specific to each global area.
We recommend trying a few paper trades first via an Oanda demo account to get a feel for it.
- Looks slick on macOS
- Mac desktop app
- Forex training academy
- Transparent pricing
- Desktop client is basically web version
- Not many forex specific tools
Forex Trading Software For Mac
As outlined in the introduction, there is a difference between forex trading platforms and forex trading software.
So far we’ve covered day trading platforms which specialize in forex trading and some of which have their own Mac desktop app.
All of them allow you to trade FX in real time either directly or like TradingView, allow you to link to a broker.
Below you’ll find a list of the best forex trading software to do technical analysis on a Mac.
These apps are only for analyzing the FX market to help you make more profitable trades with one of the broker platforms listed above.
MetaTrader 4 is easily the most popular forex trading software out there and is more commonly known as MT4 although the most recent version is MT5.
MetaTrader is a very powerful forex trading platform featuring tools such as instant execution from charts, stop orders and trailing stops, tick charts, trading history and more.
The analytical tools in MetaTrader are particularly detailed with 9 different time-frames, 30 technical indicators and 23 analytical objects to drill deep down into data.
For those new to Forex trading, MT4 also allows you to automatically copy other Traders trades based on the signals of your choice.
However, the big problem for Mac users is that there’s no version of MT4 for Mac and since macOS Catalina, there’s no way to install it easily on a Mac.
Some forex platforms have their own branded version of MT4 that they’ve adapted to work on macOS but they do not work on macOS Catalina due to lack of 32-bit support.
They also don’t offer the full features of MetaTrader on a Mac anyway such as MetaTrader Market due to limitation on macOS.
We generally recommend using TradingView as the best alternative to MT4 on Mac. It’s got more charts and technical indicators, more time frames and it’s far easier to use than MetaTrader which hasn’t been updated for years.
If you can’t live without it however, there are however still ways to use MT4 on a Mac and we recommend you read our guide on the best ways to run MetaTrader on Mac in 2020 to see how.
MotiveWave is one of the few Forex trading platforms that has a native Mac desktop client and it’s easily one of the most professional and powerful trading software out there.
MotiveWave is well integrated with external brokers and can be linked to multiple brokers including Oanda, Ameritrade and Forex.com.
MotiveWave is very powerful and can analyze huge amounts of data for complex patters and has some nifty advanced features like Replay Mode, Advanced Alerts and Multiple Monitor Mode (including for 4K displays).
MotiveWave is definitely aimed at professional Forex traders rather than beginners but if you’re not intimidated by complex technical analysis tools, you can get a lot out of it.
You can try MotiveWave for free and prices start at $99 for the basic charting version.
You can also check out our full review of MotiveWave.
cTrader has rapidly developed to become one of the major Forex trading rivals to MT4 and this has grown due to the already mentioned incompatibility problems between macOS Catalina and MetaTrader.
cTrader only has a desktop client for Windows but Mac users can now use the cTrader web client which offers all the functionality of the desktop client.
The cTrader platform looks and feels a bit slicker than MT4, it’s easier to navigate and it supports more order types. However, in terms of overall features, there’s not much to choose between them, especially for beginners.
The same features such as charts, trade logging, account management tools, back testing and technical indicators are all available in both.
ThinkTrader (formerly Trade Interceptor) is a professional currency trading app for Mac with advanced trading and technical analysis tools.
You can use ThinkTrader to trade with brokers FXCM, SWISSQUOTE, OANDA and 24Option.
If you don’t like the platforms of these brokers, then using Think Trader on Mac is an excellent option because it has its own desktop app for macOS.
Using ThinkTrader to trade with these brokers is free and all are fully integrated with the native platform of each broker. You can even trade with multiple accounts and multiple brokers in one window.
The ThinkTrader app for Mac basically brings all the benefits of the ThinkTrader web trading platform to your Mac desktop without having to use your browser.
ThinkTrader provides live quotes and charts of more than 60 Forex currencies as well as Gold, Oil and Silver.
You can activate a useful News feed down the left hand margin to provide news in real-time for the Asian, European and American markets.
There are lots of technical analysis indicators, trend alerts and graphical tools to help you make trading decisions. You can set alarms for price drops and spikes and choose from multiple chart layouts and templates.
There’s also a useful “Traders Gym” which allows you to simulate trades – also known as Paper Trading – in real-time without risking real currency.
The smart thing about the Paper Trade feature is that you can pick any previous time frame or currency, and trade as if it were happening now in real-time which is a great way to learn now to trade better and see what works and what doesn’t in the currency markets.
ThinkTrader is updated regularly, including with new features which is important for Mac users to ensure that the software continues to work with new releases of macOS.
The Mac app syncs your trading with the web platform and ThinkTrader iOS app so that you can continue trading on the move.
Latinum is a new professional trading and technical analysis software for Mac and PC which is focused on trading Forex and CFDs (Contract for Difference).
Latinum is designed for discretionary (non-automated) traders and quickly enables you to determine risk, make orders quickly via a Mini Order Ticket feature and more easily manage order and positions with a Mini Blotter.
Latinum supports a wide range of chart types including Candlestick, HLC (High-Low-Close), Heiken-Ashi, OHLC (Open-High-Low-Close), Step, Dot, Line, Histogram, Area, Candlestick Trend, Invisible, Hollow Candlestick, HL (High-Low), Colored Line and Real Body.
Latinum is also very good at helping you quickly ascertain risk, execute orders and manage your positions.
You can quickly determine risk with useful indicators displayed on the ticket such as Risk/Reward, pip value, stop-loss distance in pips and price.
There’s a Mini Order Ticket to enter orders faster with single click entry and essentials such as stop-loss and take-profit included.
For quick order management, there’s a Mini Blotter which displays opened trades and pending orders. You can conveniently right-click on a trade to allow scaling of trades (such as partial close), two-click stop-loss and take profit editing.
This makes it easier to manage, cancel or close orders and trades than on a lot of Mac Forex software.
Since it’s quite a new Forex trading app for Mac, Latinum only works with FXCM Trading Station/Marketscope accounts and OANDA fxTrade Practice accounts although this will probably be expanded in the future.
There is also a Latinum trading simulator to practice trading on and get a feel for it.
You can download Latinum from the Mac App Store and connect directly to FXCM, OANDA or just use the Forex trading simulator to decide whether Latinum is for you before buying.
Overall, Latinum is a very promising professional Forex trading tool which doesn’t complicate things with unnecessary features or extra assets and focuses on making it easier to trade Forex quicker and more efficiently.
NinjaTrader used to be one of the most popular Forex trading tools out there due to its algorithmic trading and ease of use but increased competition and monthly subscription model have seen it fall behind somewhat.
NinjaTrader is now less user-friendly than many Forex trading platforms and also does not support trading of binary options.
Although you can use the platform for free with a Direct Education license, you need to pay a subscription to trade with it and then you must link it to a broker including Oanda or Forex.com in order to trade.
NinjaTrader does offer very powerful algorithmic trading and charting.
NinjaTrader is definitely the most customizable Forex charting programs for Mac with thousands of different third-party apps and add ons although note that most of these cost extra.
NinjaTrader also has some useful straight talking information on how Forex trading works for beginners.
Finally, if you want to trade Forex 24/7 then one solution is VPSForexTrader. VPSForexTrader offers VPS hosting or dedicated servers that allow you to trade throughout the day and night.
VPSForexTrader offers free bandwidth usage, is independent of brokers and offers dedicated servers or VPS servers in Lithuania and the Netherlands.
If you use a remote desktop client on your Mac, you can also run Metatrader 4 remotely using VPSForexTrader.
The number of MT4 platforms you can run depends on the plan you’re signed up for but the FX3 plan can run up to 10 MT4 instances.
You can run even more by using dedicated servers with the FX4 plan able to handle up to 150 MT4 terminals.
VPSForexTrader is currently offering 30% off selected plans.
If you have any questions, issues or suggestions regarding forex platforms on Mac, let us know in the comments below.