The demand for online and mobile trading has exploded over the past decade. Traders now insist on having the ability to trade when they are on the go. Having the ability to trade during economic releases and monetary policy decisions have led to successes in forex markets.
However, since there are so many nuances to ponder, there is a strong demand to keep up with the news that drives the global capital markets. The advent of mobile trading has removed the need for traders to remain chained to their desks around the clock.
The importance of a functional forex trading app has increased significantly as the markets grow. Here is a review of some of the more well-known trading apps.
The most important question you need to ask yourself is; which app is right for you. There are several factors you should consider. It’s important that you test drive these applications before you start to risk capital.
Some applications are geared toward novice and expert traders while others solely focus on one type of trader. If you are interested, you can find out more about how an app fits your trading needs in the iFOREX review site. Just like there are platforms that are geared to different types of traders, mobile apps also fit each trader differently.
MT4 Mobile Application
Meta Trader is a well-known trading platform. It provides traders with several benefits including the ability to back-test your strategies. Additionally, many brokers use Meta Trader as their platform, instead of customizing a platform to meet their customer’s needs.
MT4 offers several ways to place orders. You can place them directly from a chart which helps traders who are chart focused find entry and exit levels. This will allow you to track the movements of your positions in real-time on a chart. In addition to its trading flexibility, the MT4 platform is well known for its safety and security.
iFOREX has 20-years of trading experience and has created a mobile application that works in conjunction with its web-based trading platform. The platform is customized to meet its customer’s needs and they have developed swipe gestures into their mobile platform making it easy to execute trades directly from the mobile app.
The app is synced to the web-based platform, allowing traders to use the mobile app as their main trading workstation. You can add and withdraw funds, follow news and evaluate economic data all in the palm of your hand.
FXCM Mobile App
The FXCM mobile trading app focuses on currencies and provides access to more than 50-currency pairs. It offers a free demo of the mobile application which allows you to test drive the app before you risk your capital. You can generate real-time charts and execute trades from these charts. The app offers access to real-time news and a financial calendar.
NetDania Trading App
Netdania offers a mobile application with live charts on more than 20K securities. The application provides market news and access to charts and quotes. Netdania advertises fx-rates from the interbank market displaying 2,000 currencies pairs and gearing its trading platform to expert traders.