While each mobile trading platform provides its own niche segment to the market, the most reliable and trustworthy trading apps all share some of the same key characteristics. This includes real-time market information, robust educational resources as well as tight spreads.
Real-time market information provides you with up to date information about currency pairs, and securities as well as news that might affect these markets. Understanding why the market is constantly changing will provide you with the best chance to make money.
The best forex trading apps offer information on both the technical analysis as well as the latest international news and editorials. You also want to make sure that you are trading at a minimal cost. It’s important that you choose a broker that has a mobile app that offers tight spreads. Though most spreads are only a fraction of a single unit of the currency if you are trading at a high frequency you may soon see a large percentage of profits eaten away by fees and commissions.
MT4 Mobile App
The MT4 mobile application is brought to you by Meta Quotes and is available in Android and IOS. This is a full-fledged trading platform. MT4 is one of the most well-known trading application globally and is used by several different brokerage companies and thousands of servers. MT4 focuses on the forex market. This is a white-labeled product and most brokers that use MT4 have it customized to meet their customer’s needs. It offers a robust mobile charting package along with a complete set of orders, trading history, interactive charts, and technical analysis. You can use the MT4 app around the globe and it is offered in multiple languages. MetaTrader4 offers news and analysis which monitors various economic indicators. The platform carries news reports from international news agencies and provides an economic calendar.
MT5 Mobile Trading App
MetaTrader 5 is not a replacement for MT4, it’s an app that focuses on CFDs. When MT4 was introduced the volume of CFDs that were traded were insignificant. This product is a multi-asset, multi-functional trading platform. The MT5 mobile trading platform is geared to the advanced trader. The MetaTrader 5 platform uses the MQL5 language, which is an automated trading software that can allow you to automate your trading strategies. MetaTrader 5 offers a fundamental analysis which monitors various economic and international news from around the globe.
iFOREX Mobile App
The iFOREX mobile app is one of two iFOREX trading platforms. The mobile platform offers execution, charting, and the use of a demonstration application. You can deposit and withdraw your funds directly from the app. This product is built in-house and not a white-labelled MT4 of MT5 product. The mobile app has real-time market data, execution and news. The iFOREX mobile app offers access to a world-class educational portal which provide information on execution, strategies and risk management. iFOREX is offered in multiple languages and offers its mobile application around the globe. The iFOREX mobile app is offered in both iOS and Android.