Mobile Investing Trading
Smartphone Forex Trading Applications
November 09, 2018 - Guide To Smartphone Forex Apps By Investopedia
The foreign exchange, or forex, market is open 24 hours per day and six days per week, which means that traders need to be ready to capitalize on opportunities anytime, anywhere. While forex traders were forced to sit behind a desk in the past, modern traders take advantage of mobile apps for iPhone and Android that enable them to access real-time data, analyze currencies, and place trades from the convenience of their phone.
You can find and download these forex apps and others in the Apple App Store or Google Play, but there are some important caveats to consider before getting started.
Connectivity - Mobile phones may have spotty reception and/or connectivity to cellular or wireless networks. When trading on mobile devices, it's important to ensure that you have a reliable connection to avoid potentially costly mistakes.
Security - Most mobile apps have security measures in place to prevent unauthorized access, but unlike desktop computers, phones can be easily stolen. You should ensure that your phone is secure to prevent account access if it's stolen.
Technology - Mobile apps may have various bugs and other technical issues that aren't present in desktop apps. It's important to ensure that everything is working smoothly before relying on apps to place live trades.
Keeping these factors in mind, let's take a look at some of the most popular forex apps that can help you execute trades, analyze the market, capitalize on opportunities, and improve your knowledge of the markets.
Modern forex traders rely on mobile apps for real-time trading, analysis, signals, and even education. In addition to the 12 apps covered in this article, there are countless others that you may want to consider depending on the forex broker that you use and your goals.
Forex Isn't Free
It's important to keep in mind that many of these free apps were created with the goal of upselling you on their platform and/or subscription services. You should exercise caution before following these pathways to ensure that they're the best option for your specific trading needs.
Many trading signal apps also provide free or paid trading ideas sent directly to your smartphone, but it's important to take these ideas with a grain of salt. You should do your own due diligence on potential forex trading opportunities before buying into them.
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