Mobile Trading Apps
In today's world of smartphones and tablets, advancements in technology mean that you can now trade while on the move. Let's face it. We no longer have the time or the need to sit behind a computer screen all day every day. To ensure that they remain competitive, Forex trading apps and websites have to offer an excellent mobile experience to traders.
Many people use mobile websites to trade Forex, while some prefer an app. Using Chrome or Safari from a mobile device is pretty commonplace now, but an app gives you the edge with its easy access and alerts. How do you know which Forex brokers offer an excellent mobile trading experience without visiting all of them and how do you know which is the best one for you?
We spend our time vetting, testing and trading with the numerous Forex brokers available to ensure that we present you with the best. Whether or not a Forex broker has an excellent mobile website or an app is one of the critical factors we consider when conducting our research. By reading our broker reviews, you can decide for yourself.
In this article, you will learn:
- Why it is essential to trade on-the-move
- The different types of app that exist
- Top tips to help you maximise your results
Why Trade on a Mobile
For many of you, the answer to this will be quite straightforward. If you are always on the move and never in one place for long, then trading from a laptop or PC is going to be a bit of a bind. It is much more useful to be able to pick up your phone or tablet, wherever you are and place your trades. In addition to this there are several other reasons why trading on mobile is the preferred option:
Trade From Any Location
As long as you have access to the internet, then you can trade using a mobile device. Whether it be a mobile smartphone or a tablet, you can pick it up and start trading. This means that if you are on holiday or working away, or even if you fancy a day on the golf course, you can always trade when you want or need to. With Wi-Fi on aircraft now you can also trade on long haul flights! Imaging making money when 1,000s feet up in the air!
React to Market News
If something happens and you aren't in front of a computer, you will be glad to be able to pick up the mobile and place your trades. The beauty of trading on the move is that you can react quickly to trends and news wherever you are without missing out on opportunities that are just too good to miss.
Get Instant Notifications
If you decide to download an app (if your broker offers one), then you can instantly get notifications. The little red circle in the top right of the app icon will tell you if you have notifications and how many you have. If you were trading using the web-based platform you would have to log in or rely on emails.
Different Types of Apps
There are many different apps and types of app available. The most up to date, sophisticated ones will be available for all kinds of phone whether they are iOS or Android, smartphone or tablet. The more advanced ones will even have an iWatch app. Of course, an app will need access to the internet. If you are using a phone or tablet that doesn't have 3G or 4G enabled then you will have to ensure that you have access to Wi-Fi, for those who do have 3G/4G access you can trade anywhere.
The apps allow you to trade in real-time featuring the same benefits as their website versions. This includes educational tools and access to analytical data. If an app is available for the broker, you will generally be presented with it as an option when you visit the website in chrome or safari for mobile. The beauty of an app is that you don't have to log in each time you go back to your phone, which is often the case with the internet. You can also create alerts and notifications so that you can see when there are messages or relevant news like a price being reached.
Mobile App Trading Tips
It can be a different experience using an app when you might not be used to it. If you have always used a laptop or desktop PC, mobile trading can take some getting used to. Therefore you need to choose wisely when making your decision. You may want to consider the following advice when selecting a Forex mobile trading app:
If you are new to Forex trading apps, then you must use it to your full advantage. From education tools and analysis to alerts and customisation there is so much to familiarise yourself with. Make the app work for you and use all of the features available. If you use the app to its fullest potential it can offer you so much more to your Forex trading.
If you have access to the internet then you can literally trade anywhere.
We Show You The Top Apps
Of course, with so many to choose from where do you begin? First of all if you find an app that you like the look of how do you know that it is a reliable and trustworthy broker. There is a lot of research to do, but that is where we can help. The idea is that we have done the hard work so that you don't have to. Trawling through making a list of brokers that are reliable, safe, established, licensed, mobile-friendly and that offer all of the trading tools that you need is a hard task.
Then, once you have a shortlist of brokers, finding those that offer the best apps is another workload for you. By browsing our list of recommended brokers, you can skip all of this. We have done that bit already. Our experienced and skilled team of successful traders and analysts spend their time trading on all of the different Forex platforms to ensure that they find the best brokers. We then present them in a comprehensive format listing all of the key features and how they score.
If you want a reliable broker that offers a mobile app and a no deposit welcome bonus, for example, you only have to look down our list to find those that offer just that. Once you have made your selection you can then visit a few of the platforms to decide which the preferred choice to you is. We take the hard part out of the equation by finding you the best broker.
Do mobile apps have less trading features?
No, sometimes you can get so much more from trading on an app. Not only can you trade on the go but you can also create alerts and customise the trading platform to suit you.
Are the same bonuses offered to mobile users?
Yes, there would be no point in a broker only offering a bonus to a desktop user given that so many traders use their mobile device for trading. Some brokers offer a mobile verification process to verify and collect your bonus.
How can I find the best mobile-friendly sites?
By using our reviews and recommendations, we can present you with a choice of the best Forex brokers. Alternatively visit the website or search the App Store or Google Play.
Can I trade all asset types on my mobile?
With most Forex brokers you can only trade in currency pairs as this is what they offer. Some Forex brokers offer more than 300 currency pairs while some will only provide the major pairs.
Are my personal details safe using an app?
Your personal details are input by you when you sign up to the app. Unless your phone falls into the wrong hands and is not password protected then your details should be safe.
Jessica has written for us for 5 years and offers a unique perspective due to her having worked in the financial industry internationally. In fact, Jessica has worked in a staggering 8 countries including Germany, China and the USA.