As people using the internet, we’re increasingly becoming reliant on our smartphones and tablets. The processing power that can be packed into a mobile device means that a responsive, real-time app can now be developed for virtually any possible application. This includes apps suitable for people interested in foreign exchanges trading.
There are plenty of apps available for forex traders – some great and others not worth the download. Here we select five of the very best apps that will enable you to get more out of your forex trading.
NetDania Forex & Stocks
This brands itself the number one forex and CFD trading application for your mobile. With it, you can open free demo accounts with multiple brokers, and turn your mobile into your personal trading assistant. You can build complex scripts that use a combination of pattern recognition and advanced techniques. You may share your strategies with fellow traders, or simply use one of the built-in scripts. There are thousands of real-time stocks and indices available.
Pros
- Set pattern recognition
- Create simplex/complex alerts without the need for programming skills
- Supports multitasking
- Major CFDs
- Easily manage your own portfolio
- All major stock indices covered (Dow Jones, FTSE, DAX, Nikkei etc)
- International calendar with key events and important indicators
- Fully customisable – build your own menus
- World-wide economic news available
- Over a dozen languages
This app allows you to receive access to business and finance news from all over the world. It also provides the user with market data and tools by which you can track your own portfolio. Bloomberg has been providing business news to financial experts since 1981.
The app provides breaking news stories in relation to over forty different categories, from the economy to technology and many aspects of finance. You can get all the latest news on key events, and you can even specify your own watchlist so you only receive the information you are interested in.
Visualisation tools allow you to receive an instant snapshot of how all the world markets are currently faring, and again this can be completely personalised. You can also watch live ‘Bloomberg TV’ which can be customised for your global region, or you can select a different region if you so wish.
Pros
- Access up-to-the-minute stock prices and news for people/topics mentioned in news reports
- Sync your personal watchlist with the main Bloomberg site so you only see what you are interested in, however you are accessing the internet
- Share articles of interest via eMail, or your favourite social networks
- Perform searches for stocks and new quotes
- Adjust the font size and contrast how you wish so you can read new articles clearly
E*TRADE Mobile is your personal financial trading assistant. With this app, you can get real-time streaming quotes and place trades using your mobile device. You are completely free to manage all aspects of your accounts.
Everything you need is available via your smartphone or tablet.
Pros
- Easy-to-use – a streamlined app for trading and investing
- Trade in forex, stocks, ETFs, mutual funds and much more
- Completely customise the dashboard
- Real-time streaming with customisable charts
- Manage your portfolio with up to nineteen columns of data
- Earnings and economic calendars
- Company and market-specific news
- View and edit your open orders
- Personalise your stock alerts and notifications
- Move money easily using a number of financial services providers
- Stream video from CNBC, live and on demand
- View educational videos provided by E*TRADE
This is the ‘must have’ app for those traders whose primary interest is trading in foreign exchanges. This app provides you with a professional interface for trading in currencies. It combines an intuitive GUI with advanced tools used for both trading and analysis.
Trade Inceptor is regarded as one of the best mobile tools to use when forex trading.
Pros
- Stream quotes and charts of all major currencies, indices and commodities
- Real-time news across all major trading environments
- Numerous technical indicators and pattern recognition tools
- Over forty graphical tools
- Program your own alerts based on indicators, tools and prices
- Create your own trading reports
- Calendar with important economic events
- Customise the chart templates
- A substantial range of timeframes available
- Market simulator for testing strategies
An app that provides you with up-to-the minute market information concerning all major foreign exchanges, and in real time. Also provides you will a complete set of tools necessary for trading on forex markets – quotes, news, charts, calendars and video reviews from Dukascopy (an organisation that offers traders direct access to the Swiss Foreign Exchange Marketplace).
This app is completely free and works over any description of internet connection, from GPRS to WiFi.
Pros
- Online forex quotes for over fifty currency pairings
- Live charts and forex market news
- Daily highs and lows for all currencies
- Sentiments, pivot points and market signals
- Access to Dukascopy TV via the application
- Customisable charts
Conclusion
You might imagine that a forex trader is someone sat hunched over a keyboard with multiple screens in front of them, watching charts and streams of numbers a la The Matrix. Trading does not have to be like that, and with the apps listed below, you can turn your smartphone or tablet into the most effective trading tool that you have at your disposal.