Windows operating systems continue to dominate the PC and laptop market, with an estimated market share of 70%, down notably from 90%+ over a decade ago, with Apple’s Mac system clocking in just above 17%.
Mac devices enjoy a duopoly with Android on mobile devices, which are the device of choice for copy traders, where Mac leads the US market and Android most non-US markets. In this review we look at Forex trading platforms for the Apple Mac.
- AvaTrade, Highly regulated, choice of fixed or floating spreads.
- Plus500, multi-asset and CFD broker.
- FXTM, Best all-around broker with high floating leverage and fast execution.
- eToro, Best broker for social traders and crypto traders : 51% of retail CFD accounts lose money.
- FP Markets, ECN trading with leverage up to 1:500.
Best Mac Platform's Brokers Comparison
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Regulators | ASIC, BVI, Central Bank of Ireland, FFAJ, FSCA, KNF, MiFID | ASIC, CySEC, FCA, FMA, FSCA, MAS | CMA, FCA, FSC Mauritius, FSCA | ASIC, CySEC, FCA, FSA | ASIC, CMA, CySEC, FSCA |
Year Established | 2006 | 2008 | 2011 | 2007 | 2005 |
Execution Type(s) | Market Maker | Market Maker | ECN/STP, Market Maker | Market Maker | ECN/STP |
Minimum Deposit | |||||
Average Trading Cost EUR/USD | 0.9 pips | 1.3 pips | 0.1 pips | N/A | 1.2 pips |
Average Trading Cost GBP/USD | 1.5 pips | 1.7 pips | 0.2 pips | 2.2 pips | 1.4 pips |
Average Trading Cost Gold | $0.29 | - | $0.18 | $0.45 | $0.16 |
Trading Platform(s) | Other, MetaTrader 4, MetaTrader 5, Proprietary platform, Web-based+ | Proprietary platform, Web-based | MetaTrader 4, MetaTrader 5, Proprietary platform | Proprietary platform | MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Web-based |
Islamic Account | |||||
Negative Balance Protection | N/A | ||||
| Visit Website | Get Started Visit Website82% of retail CFD accounts lose money | Visit Website | Get Started Visit WebsiteYour investment value may change. Capital is at risk. | Visit Website |
AvaTrade
In Summary Highly regulated, choice of fixed or floating spreadsAvaTrade Forex trading platforms for Mac consist of MT4/MT5, where traders can download desktop clients and opt for web-based alternatives and mobile apps. The AvaTrade app is also available with a 4.4 out of 5.0 rating from 451 reviews in the Apple App Store. It requires iOS 12.0 or later or macOS 11.0 or later with an Apple M1 chip.
The most competitive trading tool is Capitalise AI, which allows algorithmic trading in a code-free environment. Traders also get the Guardian Angel MT4 plugin. AvaTrade offers a reasonably priced commission-free cost structure from 0.9 pips spreads or $9.00 per lot.
Pros & Cons
- High quality educational offering via AvaAcademy
- Excellent choice of trading platforms catering to various trading needs
- Broad asset selection and cross-asset diversification opportunities
- Well-regulated and trusted broker with oversight from a central bank
- Trading costs competitive but nothing special
Plus500
In Summary multi-asset and CFD brokerPlus500 presents its manual-trading-only user-friendly proprietary trading platform and mobile app, which has a 4.2 out of 5.0 rating from 362 reviews in the Apple App Store. It requires iOS 14.0 or later, making it less accessible than some competitors, or macOS 11.0 or later with an Apple M1 chip. Plus500 ranks among the Forex trading platforms for Mac with the broadest choice of Forex options.
Traders get a commission-free pricing environment with minimum spreads from 0.8 pips or $8.00 per 1.0 standard round lot. An invite-only Premium Client service exists, designed to provide an exclusive Plus500 trading experience.
Pros & Cons
- Broad asset selection in equities and options
- Free and unlimited demo account
- Advanced free-of-charge analytical trading tools
- Global and regulated fintech platform
- Sub-standard trading platform without support for automated or social trading
FXTM
In Summary Best all-around broker with high floating leverage and fast executionFXTM is a well-established broker with Forex trading platforms for Mac offering the lowest trading fees. Commission-based minimum costs range between $0.80 and $4.00 per round lot. The proprietary FXTM Trader only has one rating on the Apple App Store with a 5.0 rating. It requires iOS 14.0 or later, ensuring accessibility for most, or macOS 11.0 or later with an Apple M1 chip.
Most FXTM Mac traders rely on MT4/MT5 apps, which both enjoy a 4.8 out of 5.0 rating from 469 and 286 ratings, respectively. Both require iOS 11.0 or macOS 11.0 or later with an Apple M1 chip.
Pros & Cons
- Excellent commission-based Forex pricing environment and transparency
- Upgraded MT4/MT5 trading platforms plus proprietary mobile trading app
- Quality market research and educational content for beginner traders
- A highly regulated broker with a tier-1 license
- Limited choice of commodities
eToro
In Summary Best broker for social traders and crypto traders : 51% of retail CFD accounts lose moneyeToro is one of the leading copy trading communities, and traders get proprietary trading tools like Copy Trader and Smart Portfolio. Therefore, eToro is considered the most dynamic Forex trading platforms for Mac copy traders who do not mind higher fees. eToro lists commission-free Forex spreads from 1.0 pips or $10.00 per 1.0 standard round lot.
The eToro app has a 4.7 out of 5.0 rating from 182 user ratings in the Apple App Store, making it one of the highest rated. It requires iOS 11.0 or later, ensuring accessibility, or macOS 11.0 or later with an Apple M1 chip.
Pros & Cons
- Active investment community ideal for social trading
- Dedicated tools for social trading
- Broad cryptocurrency selection
- Expanding educational offering for beginner traders
- Internal withdrawal fees
FP Markets
In Summary ECN trading with leverage up to 1:500fpmarkets is an ASIC-regulated Australian brokerage which launched in 2005. For most traders, the unique selling point of this broker is in the extremely wide range of tradable assets offered, providing the opportunity to trade over ten thousand individual stocks and shares including publicly quoted Hong Kong and Australian companies. Ffpmarkets also offers 60 Forex pairs and crosses, 11 equity indices, the major commodities, and 5 cryptocurrencies including Bitcoin. fpmarkets offers an unusual hybrid ECN/STP execution model, meaning their clients can choose between ECN style of execution giving a very high level of speed, and a “straight through processing” execution style which allows for more “natural” spreads.
Pros & Cons
- Choice of trading platforms and auxiliary trading tools
- Very competitive cost structure and excellent asset selection
- Low minimum deposit requirement and leverage of up to 1:500
- Well-regulated and trustworthy
- Availability of Iress geographically restricted
What Difference Does a Mac Make in Forex Trading?
Forex trading platforms for Mac display little to no difference in performance metrics versus high-end Windows machines for traders. There are variations though on mobile devices, where Microsoft exited the market recently, and iOS devices share an almost equal market share with Android devices.
There is a lot of back and forth between Mac and Windows users, but it ultimately depends on individual preferences and how traders use either trading setup. Most trading software remains optimized for Windows, as serious traders tend to use desktops, where Mac has a market share of roughly 17% versus 70% for Windows.
Mac enthusiasts may note superior performance and durability over Windows counterparts, but a high-end Windows system will shine equally well. Mac traders may come across third-party software that does not work on a Mac, but most traders will find Forex trading equally effective on Mac and Windows.
How to Trade Forex on Your Mac
Before traders decide where to trade and which Forex trading platforms for Mac to download, they must begin their journey with in-depth education. Trading psychology should be the first lesson to study. It separates profitable traders from up to 90% of retail traders who lose money when trading Forex.
MT4 is the leading Forex trading platform, irrelevant of the operating system, and it has the highest ratings in the Apple App Store versus any alternative.
Here are a few beginner tips:
- Download the MT4 demo trading platform.
- Select a quiet place for trading.
- Use a strategy that reflects your personality.
- Ensure you understand the relationship between leverage and risk management.
- Keep a trading journal, which can help you improve your trading.
- Opt for a micro account platform instead of a demo account, make a small deposit, and learn how to trade with 0.01 micro lots.
What is the Best Trading Platform for a Mac? H2
The best Forex trading platforms for Mac, like the choice between Mac and Windows, depend on user preferences. The MT4 and the MT5 trading platforms have the highest ratings on the Apple App Store, both clocking in at 4.8 out of 5.0, with MT4 supported by more ratings.
Many traders who prefer Forex trading on a Mac will pair the MT4 platform with the MacBook Air. It is the cheaper version of the MacBook Pro. The MacBook Air provides sufficient computing power to meet most trading requirements, including algorithmic trading.
Is a Mac Good for Trading?
A Mac is similar for trading to a Windows device, and among the Forex trading platforms for Mac is the market leader MT4. Therefore, a Mac covers everything Forex traders require from a hardware and software perspective. Depending on individual requirements, some Forex traders may run into issues with compatibility. These can be addressed by running a virtual machine and installing Windows. The drawback is that it can slow down performance.
Forex traders who prefer copy trading may have the best Mac trading experience, as the mobile apps on iOS work smoothly and fulfill all basic trading requirements.
Is MetaTrader Available for Mac?
MetaTrader is among the Forex trading platforms for Mac. Traders can download the versatile desktop clients of MT4/MT5, which require a macOS 11.0 or later operating system with an Apple M1 chip. The lightweight web-based alternatives run on most browsers, posing no issues for Forex trading on a Mac.
The user-friendly MT4/MT5 mobile apps, the highest-rated trading apps on the Apple App Store, require an iOS 11.0 operating system or later, which ensures widespread availability. The MetaTrader platforms allow Mac traders to trade Forex with industry-leading trading platforms, fully supportive of algorithmic and copy trading.
How to Trade Using MT4 on a Mac?
Trading on a Mac follows the same principles as trading on Windows or other operating systems.
Here are tips on getting started:
- Beginners should start with in-depth education.
- Once traders feel comfortable, they should select one of the Forex trading platforms for Mac MT4 is the top-rated choice, the leading Forex trading platform industry-wide, and the highest-rated in the Apple App Store
- Define a strategy, avoid emotion-based decisions, and deploy proper risk management.
- Start with a small balance and test preferred Forex trading strategies for six to twelve months before committing more capital.
How Can You Access the Trading Report on a Mac?
Accessing trading reports depends on the Forex trading platforms for Mac, and the process could differ slightly. Most trading platforms offer detailed trading reports within the trading platform.
Since MT4 is the highest-rated trading platform on a Mac, here is how traders can access their MT4 trading report:
- Open your MT4 trading platform.
- Click “Account History,” located on the bottom menu.
- MT4 displays the entire trading history by default.
- Right-click anywhere in the tab, and a menu pops up.
- You can select a custom period to view.
- Click “Save Detailed Report”
How Do I Get the Stocks App on My Mac?
The Stocks app is not part of any Forex trading platforms for Mac. It is available to all Mac users as a native application from Apple, displaying stock quotes, interactive charts, and top business news, although it does not support trading.
Here is how traders can access the Stocks app on their Mac:
- Click the Finder icon in the dock, which opens a Finder window.
- Click “Applications” in the Finder window sidebar.
- Double-click the Stocks app.
Mac users can open multiple windows or tabs to view the information available in the Stocks app, including a watchlist.
Which Mac is Best for Day Trading?
The choice of which Mac to use for day trading depends on individual preferences and requirements. The computing power of all Mac models suffices for Forex trading platforms available on the operating system. Since active trading is a more demanding strategy, often requiring multi-screen layouts, the laptop models are not ideal, given their small screen sizes of 13.3 to 16.0 inches.
The iMac models have screen sizes between 24 and 27 inches and support multiple display ports, allowing day traders to use multi-screen setups and offering sufficient screen real estate to accommodate day trading strategies.
Can I Use TradeStation on a Mac?
TradeStation is not among Forex trading platforms for Mac that can run directly on apples systems, as it has never developed a specific Mac version. Mac traders can use TradeStation, which requires emulation software. The most-used emulation software for Mac is Parallels Desktop for Mac.
Here is how you run TradeStation on Mac:
- Install your preferred emulation software on your Mac.
- Run your emulation software and install Windows.
- Install TradeStation on Windows
Among the potential drawbacks of using TradeStation on Mac are the additional costs of obtaining a Windows license and a different keyboard setup.
Bottom Line
Most Forex trading platforms available on Windows also exist as Forex trading platforms for Mac. MT4 and MT5 are the highest-rated options based on Apple App Store ratings from hundreds of users, and MT4 remains the undisputed industry leader. Many Forex traders using Mac prefer the MacBook Air, which suffices for hobby traders but fails to cater effectively to those with more demanding requirements. The iMac models present a suitable choice for serious traders.
Depending on the trading requirements, some traders may run into comparability issues, which require emulation software for a workaround solution that can add costs and decrease performance.
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