Smartphones and tablets have changed the way the world operates, the forex world is the latest to adapt to this new and ever evolving technology. FX trading focused apps are popping up all over the place and can expand your horizons when it comes to market involvement. From up to the second real-time data, to being able to place trades whenever and wherever you want, mobile apps are making the world of FX trading as accessible as ever. The following provides an introduction to the FX trading mobile app market.
What apps are available?
Brokers are the ones who issue FX trading mobile apps; this means you need to be registered with one in order to have access. However, don’t think that all brokers offer such to customers. If you have mobile FX trading in mind you need to make sure that the broker you choose has an app in place that is ready to use.
How do you find and download an app?
How you get hold of an app will depend on the mobile device or tablet you are using. Those who are using iOS or Android devices will find FX trading apps in their respective apps stores. Before downloading an app you need to make sure that your device has the system specifications to run it. After finding you’re app of choice, simply press download, select it, input your login and security information, and you should be up and running.
How do you use an app?
Firstly, in order to use an FX trading app your device must be connected to the Internet via Wi-Fi or a 3G/4G data plan. This is because using an app without such will limit its uses. You need an Internet connection in order to access the market, see the latest news, initiate trades, and monitor your current positions.
What trading platforms can you use?
The FX trading mobile app market is growing, but in many ways it is still in its infancy. This means that you will want to stick to known and trusted platforms in order to be secure in your trading. The most popular and well-received mobile trading platform is MetaTrader, currently in its fourth incarnation it is available through both iOS and Android app stores. The app lets you lets you see real-time quotes, use technical indicators, while it will also let you place orders as and when you see fit. Other popular platforms include Trade interceptor, along with in-house issued broker platforms.
Is FX trading via mobile device right for you?
It must be said that mobile FX trading isn’t for everyone; this is because it is something that definitely requires a level of technical nous to do correctly. Apps require you to understand how a mobile device functions, while constant technical improvements mean that a FX trading app requires a user to be adaptable. If you don’t think that this is you, then operating through an FX trading mobile app may not be for you.
Spreadbetting, CFD trading and Forex are leveraged. This means they can result in losses exceeding your original deposit. Ensure you understand the risks, seek independent financial advice if necessary. The value of shares and the income from them may go down as well as up. Nothing on this website constitutes a solicitation or recommendation to enter into any security or investment.
Alexander Bowring is a London based writer and a Southampton Solent University Screenwriting graduate. He has worked alongside TV personality and Telegraph feature writer Alison Cork, whilst also having produced content for ITV, This Morning, Canvas8, Who’s Jack, Alison at Home, and Bonallack & Bishop Solicitors. Alexander also has a keen interest in investments.