Forex trading is an exercise that has changed beyond all recognition in the last decade or so, thanks largely to the way in which technology has made it far more accessible to the general public. Through the development of sophisticated web based and downloadable trading platforms, technological innovation has helped to establish forex trading as a viable money making option for young professionals.
Much more than this, however, these highly evolved forex trading platforms are now also available as mobile applications, which means that independent and part time investors can manage their portfolio while on the go. This has proved to be a pivotal step in helping traders to negate the fluid and volatile nature of the forex market, by allowing them to execute real time transactions in line with constantly shifting price movements.
What are the Best Forex Mobile Trading Apps?
With this in mind, what are the best and most purposeful mobile forex trading platforms available to users?
CopyTrader – Etoro Mobile Forex Trader:
Copy Trader application, which is available across all mobile platforms, is unique in terms of its key selling point. This is a feature which allows users to follow the most successful traders within the world’s largest investment network, and copy their exact transactions in real time. In addition to this, the CopyTrader mobile forex application provides traders with access to several pre-set leverage options, so that inexperienced investors can manage their risk and establish a viable exit strategy.
The MetaTrader series of trading platforms have been particularly influential within the market, and the fifth installation provides no exception to this rule. Available as an iPhone and iPad trading app, the MetaTrader 5 boasts more than 30 individual technical indicators and a comprehensive suite of analytical tools, and offers every possible advantage to traders regardless of their individual levels of experience and skill. The current instalment even has an offline mode, which allows users to access their account and make transactions when they lose connectivity.
The XEM iPhone Trader:
Another popular iPhone trading application, the XEM iPhone Trader is an extremely functional and easy to use example of mobile forex software. Allowing users to trade forex and other commodities through multiple online accounts, it is the ideal app for any investor with a wide and diverse portfolio of interests. The application also enables traders to make instant deposits and same day withdrawals from their accounts, while users can also rely on round the clock network support should they encounter any technical issues.
These forex trading mobile applications are just a few of those currently available on the market, and your choice will be influenced by some degree by the type of handset or mobile device that you use on a daily basis. That said, it is important for every independent trader to utilize a mobile forex trading platform, especially if they retain an interest in the volatile and constantly changeable forex market. These applications are crucial in providing users with live price movements and information concerning the performance of individual currency pairs, and this can ultimately prove to be the difference between making long term financial gains or significant losses in a margin based trading environment.
Author Biro: This article was written by Richard McCabe. If you are interested in learning more about how mobile trading platforms, online analytical tools and CFD software and boost your performance as an investor, then now is the time to make your move.