Online traders can work from tablets or smartphones 24/5. Modern systems have impressive functionality. Discover key advantages of top trading apps.
Best Mobile App for Forex Trading
Would you like to make money from your smartphone? With modern trading apps, this is a reality for millions of people. Lightweight mobile software connects you to gigantic global markets. Trade currencies, stocks, CFDs and other tools from the palm of your hand. Here is an overview of the most convenient and reliable systems on the market in India.
Connection to Desktop Terminals
Some mobile apps are standalone products. Others are versions of desktop terminals. For example, MetaTrader 4 comes in three variations for different devices. You may install desktop software on your laptop or PC. Trade from any tablet or smartphone through mobile apps, or use the web-based system that runs in popular browsers.
Mobile versions of desktop platforms share data with their counterparts instantly. A trade you open from your laptop can be modified from a tablet and finalised from a smartphone, or in any other order. This ensures freedom of movement, as you are not tethered to a workplace. Traders make money even when travelling. If you work through a portable version, make sure its connection to the main system is seamless.
Follow Your Broker’s Recommendations
Every broker recommends one or more systems for trading. Therefore, the choice largely depends on the provider. Some companies invest in their own app development, while others rely on generic tools. The most powerful systems have the following capabilities.
Fundamental and Technical Analysis
In Forex, there are two schools of analysis. Some traders make decisions based on typical price trajectories. Others rely on fundamentals deduced from financial news. The best mobile apps cater to both groups of users. First, they have charts with adjustable time frames for technical analysts. Secondly, they give access to the latest updates from the financial media.
Wide Spectrum of Assets
An experienced trader does not limit profits to a single market. Overreliance on any instrument is risky. What if the foreign exchange moves against you for days or weeks? You may be able to capitalise on stocks, CFDs, or spot metals while your currency pairs are dormant.
Experts engage different instruments to diversify exposure and limit risks. At the same time, profits grow, and losses made in one domain are covered by gains elsewhere. Think strategically. If you focus on currencies today, you will eventually diversify, and switching between systems could be a hassle (unless the apps come from the same family like FXTM MT4 download).
The FXTM Trader is one of the most versatile apps in this regard. The mobile system for Android and iOS gives access to 250+ instruments, from currencies to derivatives. Designed for clients of the Forextime broker, it meets all of their needs.
Real-Time Market Quotes
With a mobile app, you can monitor the markets at a glance. Streaming quotes let you see how they are doing at any moment. This is particularly important for traders who use immediate market execution. They look for the best moments for entry and exit in real-time.
Users should have an opportunity to contact support through their app. Reliable brokers have customer care departments that work around the clock. Every weekday, you can reach out to the team and get assistance by email, live chat, phone, or other means.
Virtual private servers are an essential element of cyber defence for any trader. On the one hand, they secure the connection and protect your data from prying eyes. On the other hand, they create a copy of your physical terminal with 99.9% uptime. It is your best protection against power outages, technical glitches and disruptions of the internet connection. Your virtual terminal is stored on the broker’s cloud servers.
Example: MetaTrader 4 App for Android
Brokers around the world recommend this app. It is a fully-fledged terminal with everything you need. The system offers interactive charts, 30 technical indicators and other helpful features.
- The app includes all types of orders and execution modes.
- Users may track their history.
- Make profitable decisions using an array of visuals: bars, Japanese candlesticks and broken line charts.
- Nine timeframes allow you to analyse short-term and long-term changes.
- Twenty-four analytical objects facilitate forecasting.
- Fundamental traders may also access the latest news from global financial markets.
- Support is available through email and live chat.
The Bottom Line
State-of-the-art apps are comprehensive systems for forex trading. Manage your account with ease and develop a broad portfolio across markets. Advanced technical tools and the latest media information are a tap away. Monitor your instruments at the glance and make money wherever you are.