Connect with us

Business

Top 5 apps for today’s Forex trader

Let’s take a look at 5 of today’s top choices

Tech stocks

Smartphone software apps have understandably become an accessory that Forex traders are loath to be without. The Forex market is volatile and event-driven, making it extremely vulnerable to any economic changes or news announcements. With today’s 24-hour trading, currency traders want to have free and fast access their accounts, market news, charting and price quotes in an instant.

The best Forex brokers nowadays provide a mobile app or even a selection of them. Some of these individual apps are so powerful and useful that traders use them even when they don’t have an account with the broker itself. So, let’s take a look at 5 of today’s top choices:

MetaTrader 5

MT5 is the top choice of millions of worldwide traders, offering a robust and multi-functional free trading platform app that enables trading in stocks and currencies. The platform has some exceptional features and advantages, allowing you direct access to the broker’s servers. You can then trade, receive currency quotes, or analyze financial markets and technical analysis indicators. It offers some fantastic features including:

  • Real-time quotes and trade execution
  • Trade orders and detailed trading history
  • Ability to switch between charts and instruments
  • Notifications and financial news
  • Different interactive charts with zoom and scroll options
  • 30 technical indicators and 24 analytical objects

Bloomberg Business

Bloomberg has multiple mobile apps for both Android and iPhone if you have a current subscription to Bloomberg services. For those who don’t, its business app offers a superb service to traders who are focussed on accessing the very latest market news in real-time. The app provides global financial and business news, along with price data, useful tracking tools, and a customizable menu. The Watchlist allows you to analyze market positions in currencies through to exchange-traded funds and provides handy charts and summaries.

With Bloomberg Business, you can keep updated on financial news, Forex trading signals and financial instruments. You can watch live video streaming of Bloomberg TV for the very latest news updates, and find a platform where you can monitor your portfolio and receive alerts easily. Bloomberg is an excellent choice to assist you in making the best trading decisions and keeping your portfolio right on track.

NetDania Forex And Stocks

NetDania Forex and Stocks provides a market overview and is highly rated for its ease of use, speed, and versatility. It allows you to set price alerts on currency pairs and to customize the menu for price quotes and news. It has real-time price quotes, Forex interbank rates and a myriad of useful features. You can also take advantage of live streaming market news delivered by Market News International and FxWirePro. The NetDania app also provides you with:

  • Over 20,000 financial instruments and 2,200 currency pairs
  • Real-time Bitcoin and cryptocurrency prices
  • Alerts, quotes, and unlimited watch lists
  • Options for trading strategies with a target, limit and stop
  • Live market news and economic calendar
  • 6 different charting tools for both tablets and smartphones

TD Ameritrade’s thinkorswim Mobile is a powerful full- service trading interface and the App Store’s most popular app. You can trade currencies, options, and stocks and even live text your questions to trading specialists. There is full access to live charts, with the ability to load technical indicators and study tools that you have created yourself. These premium charting tools allow you to analyze watch lists and positions with more than 300 different technical indicators.

thinkorswim Mobile will enable you to monitor and modify your positions, alerts, and orders. There is also a myTrade community feature which allows you to communicate with other traders and exchange views. Up to the minute global market news is delivered with live streaming from CNBC Europe, US, and Asia. You can also access its paperMoney trading simulator feature, where you can experiment with a virtual funded account and test out your strategies without any risk.

Trade Interceptor

Trade Interceptor is highly popular, providing a host of features, along with the ability to trade currency pairs through multiple Forex brokers. It offers highly advanced analysis and technical trading tools, and real-time alerts for news releases and price levels. You can access real-time market news, and live streaming price charts and quotes, including Bitcoin. There is also access to simulated trading to test your strategies using its historical data. Trade Interceptor won the “Best Mobile Platform” award in 2012 and here’s why:

  • 14 advanced charts and 100 technical indicators
  • Over 160 intelligent indicators and drawing tools
  • Sophisticated risk management tools
  • Touch-chart trading straight from the charts
  • Cloud-based alerts for indicator values, quotes, and prices
  • Live streaming quotes for currencies

Have any thoughts on this? Let us know down below in the comments or carry the discussion over to our Twitter or Facebook.

Editors’ Recommendations:

Chris has been blogging since the early days of the internet. He primarily focuses on topics related to tech, business, marketing, and pretty much anything else that revolves around tech. When he's not writing, you can find him noodling around on a guitar or cooking up a mean storm for friends and family.

More in Business