Five Easy-To-Use Apps for Forex Traders
Five Easy-To-Use Apps for Forex Traders
With forex trading, nothing is more than helpful than having your charts, prices and quotes and the latest market news right at your fingertips. Also, it takes time to garner the skills and knowhow to make profitable forex trades. The advent of more than a dozen mobile apps is making trading more straightforward than ever, allowing investors to:
● Trade anytime, and anywhere
● Scour through the market for the most profitable trading opportunities
● Be more active and in control of the trading process
● Here are some of the best easy-to-use apps equipped with innovative features to enable you to maximize your forex trading opportunities.
NetDania is a user-friendly app that keeps you updated with current forex trading ideas and strategies. It also assembles data from more than 200,000 financial instruments and thousands of live charts. Besides, the app will let you know when to enter or exit the market, and also keep you updated with real-time market news from Market News International and FxWirePro. It also offers real-time updates on current stock market performance as covered by the Dow Jones, Nasdaq 100, CAC40, and 14 others.
Courtesy of being cloud-based, NetDania also comes with the extra perk of allowing users to share and sync data across a wide range of devices.
Trade Interceptor is another app for iPhone and Android that allows users to trade currency pairs and commodity futures through several reputable forex brokers. Through the software, you can find and compare currencies and stocks and determine which ones are worth investing in. Traders can also access live quotes and news for all major forex trading, indices, precious metals, and even bitcoin prices. The app also provides users with the option of receiving real-time, professionally curated financial markets news spanning Asia, Europe, and America.
With Trade Interceptor, you have access to 160 technical chart indicators and drawing tools so you can have the smoothest technical analysis. Users can also select any of 14 innovative chart types to view currency exchange rates most conveniently.
MetaTrader for Android
MetaTrader is another preferred app for forex traders that provides real-time and contract for difference (CFD) quotes and allows users to trade stock, forex, commodity futures and other instruments from the convenience of your phone. MetaTrader 4 for Android also supports all types of execution modes. The app even allows tablet users to reap all the benefits of a larger screen by automatically adapting its interface to tablets.
Its charts feature an effortless switching mechanism between different instruments - as well as between Stop Loss, Take Profit values. MetaTrader is big on the visualization of trading info, as well as seamless interaction on charts which have special pinch, zoom and scroll options.
ForexTime's FXTM app is available for Windows, iOS, and Android, and is used by forex in over 180 countries. Whether you're a novice or a pro, FXTM allows you to log in and trade your way to profit. If you're making your forex trading debut, the app will enable you to access informative and easy to understand forex trading educational resources. It features both variable and fixed spreads, and upon completion of a trade, your withdrawal request is processed in a few minutes. What's more, all you need to do to use it is sign up for an account, upload your ID documents and transfer some registration funds before proceeding.
FXTM also has some of the most impressive execution rates - allowing you to navigate through charts at the span of milliseconds.
Forex traders who've been in the game for long know how important global trends are. Even newspaper headlines can significantly affect exchange rates. The Bloomberg app is outstanding at supplying news and alerts that affect financial markets - from debt crises to elections to natural events. This way, you won't miss any important developments. Through the platform, you can also access prices and quotes for currencies, stocks, indices, and bonds. And apart from letting you analyze your current stocks, mutual funds, and exchange-traded funds, you can watch Bloomberg TV via an online video feed.
Stocks and forex trading is a lucrative venture, but it also has inherent risks. Making use of a forex trading app enables you to stay abreast of trends in the market, as well as key events that tip the scales of financial markets. This way, you know which moves to make to convert your investments into earnings.