In today’s interconnected world, the foreign exchange market (or forex, in short) is a vital component of the financial sectors. Its decentralized nature, as well as relatively low volatility and variety of investment opportunities, attracts dozens of ambitious investors who want to either create an additional income stream or want to trade forex full time.
Regardless of one’s level of commitment to this activity, getting serious about forex requires frequent use of several mobile apps. The following apps, and many others that we do not have the time nor the space to cover, help traders keep up with the market, research potential investment opportunities on the go. Here are the best mobile apps for on-the-go investors.
- Great tool for forex analysis
- Compatible with both iOS and Android
- Over 160 intelligence indicators
The first app highlighted on this list is Trade Interceptor, a great forex analysis tool used for tracking the best currencies, stocks and other investment opportunities. The Trade Interceptor is quite varied as far as mobile apps go, offering 14 advanced charts, and over 160 intelligence indicators and drawing tools for customizing charts and indicators.
But what truly sets this app apart from the others is its impeccable optimization. Previously, the app was available only on desktops, but the developers managed to port it to mobile devices with no issues whatsoever. The app offers a touch-enabled trade management functionality, a nifty split-screen and quad-screen feature which accommodates traders who like to multitask.
In terms of trading tools, it offers an economic calendar, a trading simulator, a risk scanner (great for risk management techniques), data release alerts and others. Furthermore, these tools are authorized by the FCA in the UK and other relevant institutions, so users can be sure that this app is fully optimized for proficient forex trading.
- It does not cost any money
- Supports a wide variety of indices and indicators
- Simple and intuitive user interface, perfect for accommodating forex beginners
When it comes to making money out of forex, keeping up to date with the latest market developments is key. However, the plethora of events can make even seasoned veterans feel overrated, so a mobile app such as DialyFX is a must for all traders. Available for free on iOS and Android devices, DailyFX provides investors with real-time technical analysis and commentary from a wide variety of acclaimed forex traders and analysists.
One of the toughest parts of getting into forex is all the field specific-jargon. DailyFX can be used as a jargon-buster of some sorts as it offers facts using a live news feed system. Other than that, you can use this app to find out the latest news in terms of commodities, indices and trading strategies. Daily FX is quite useful as an auxiliary trading tool, so you should definitely consider including it in your repertoire.
MetaTrader 5 for Mobile Devices
- Comprehensive trading app that functions as a platform.
- Available on all mobile devices.
- Smooth interface with lots of customization opportunities.
When it comes to forex mobile apps in particular and forex tools in general, some people consider the MetaTrader line of software essential for conducting trading effectively and professionally. The latest version of the acclaimed product is not a mere revamp of older versions, rather an outright overhaul. And the best thing about it? It is also available on mobile devices.
With the MetaTrader 5, managing multiple accounts at the same time has never been easier thanks to the fact that the new accounts window in the ‘’Navigator’’ allows users to move smoothly from one account to the other. If you have multiple accounts each designed with a specific purpose (for example, one account for carry trade, another for scalp), you can easily switch between these two categories to respond to unexpected market events (do not worry, it happens to the best of traders).
But the greatest addition to this new version of the acclaimed tool is arguably a large number of indicators added on top of the preexisting ones. On top of that, the developers improved the interface by neatly dividing indicators in four categories, more specifically ‘’Volumes’’, ‘’Oscillators’’, ‘’Trend’’ and ‘’Bill Williams’’. In addition, the tool has a fifth category which traders can customize per their wishes.
As you can see, the both the desktop and mobile app are quite comprehensive and generous in terms of what they offer. If you are unsure if it is worth purchasing or you are simply not willing to throw money on forex apps, check out the download link and get the free trial version.
NetDania Forex and Stocks
- Real-time price quotes
- Carefully curated news feed from FxWirePro and FXWare, two highly acclaimed information sources.
- Price alerts for currency pairs, commodities and stocks.
In terms of popularity, NetDania Forex and Stocks is one the most appreciated apps on the market, used both by beginners and veterans thanks to its versatility and ease of use. In some respects, it is quite similar to FXWare Currency (more about it below), in the sense that it provides useful intel such as real-time price quotes on stocks and commodities (gold and silver) and interbank rates on a minute by minute basis.
On top of all that, NetDania comes with live, streaming charts and curated news from FxWirePro and Market News International. In addition to this, traders can use this app to set trendline or price alerts on the currency pairs, commodities and stocks of their choice. If this sounds like too much for a single mobile app, do not worry – the user interface is very intuitive and well-designed, giving traders the option to customize the menus to suit their personal needs. This app is available for Android and iPhone devices.
- Accurate daily forex reporting
- Integrated forex calculator
- The ability to convert over 150 worldwide currencies
Another great mobile app for flexible investors is the FXWare Currency. There are many things one can blame the forex market for, but a lack of diversity is not one of them – there are literally dozens of currencies people can choose from, and the opportunity for finding a niche are quite generous.
Since this is a pretty complex task to do by yourself, a mobile app designed specifically for this purpose can come handy. Available for Android devices, FXWare Currency allows users to convert more than 160 currencies and assets using the app’s continuously updated database. Along with that, the app gives access to charts, travel guides, a calculator and daily currency rankings. And this is only what the free version of the app offers – the premium version offers additional features, like market and currency news.
This concludes our article about the best forex apps for mobile devices. Whether you are always on the go or you spend lots of time at home in front of the screen, these apps can come handy for reacting to sudden market developments. If you feel like adding a few apps to your repertoire, make sure to give one of these software a shot.
(This is a Promoted Post Newsmboile editor’s haven’t edited this )