In today's interconnected world, the forex market plays an important role in daily activities. It is a decentralized global environment where financial institutions and businesses can exchange currencies.
According to a study by the Bank for International Settlements, currency transactions generate around € 5.3 trillion per day, making it a larger market than other financial markets. It is often dominated by large international banks and corporations, who work tirelessly to trade and convert international currencies.
Currency trading also supports international trade and investment. For example, if US companies want to import goods from a European country, they will probably have to transact in euros. Thanks to forex, these companies can exchange dollars for euros quickly and easily.
In addition to allowing trade between countries, currency trading is a lucrative investment opportunity. Every day, companies and investors make billions buying and trading currencies. However, it takes a lot of experience and skills to make lucrative forex transactions.
This is where forex trading software comes in, automating this common business practice. Essentially, you travel the market looking for the best forex trading opportunities. And in this article we have selected the best forex trading apps.
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Best Forex Trading Apps - At a Glance
(Image credit: FXTM)
1. Forex Time FXTM
A smart automated forex trading solution
Automated trading
Fully regulated
Used around the world
When choosing a financial management platform, it is important to look for reputable providers. Used by traders in over 180 countries and fully regulated, ForexTime's FXTM software is a safe bet for currency trading. It positions itself as an automated forex broker.
The advantage of this platform is that it is designed for professionals and beginners. For example, flexible leverage allows you to increase your earning potential, but it is only offered based on your knowledge and experience. If you intend to become an expert in this field, you can access a variety of educational resources.
Currently, you can use fixed and variable spreads, and when you have completed a transaction, the company processes withdrawal requests in just a few minutes. You shouldn't have any problems with the software either. All you have to do is create an account, download your verification documents, and transfer funds before trading.
In addition, the software can transact with execution rates in milliseconds. In other roles, you can get daily feedback from the company's market research team and use a variety of free trading tools to make more informed decisions.
You can access the software on Windows, Mac, iOS, and Android devices, and the company says it covers 100% of your deposits, up to € 1,000.
(Image credit: Stock Trainer)
2. stocks trainer
A practical platform to invest
Training app
Build an investment experience
Android only
If you're tempted to invest in stocks and financial instruments, but don't yet have the confidence to do so, then Stock Trainer's A-Life software might be the application for you.
The application offers a virtual experience of the stock market using real market data. Thus, you can gain experience, knowledge and understanding from the trading experience as a whole.
Better yet, the app is quite comprehensive in terms of features, covering 20 stock markets, and providing support for stop-loss and limit orders.
There is the possibility of creating a portfolio, and information on the main winners and losers, cartographic information for more than ten years is provided.
Investment information is also provided, along with a professional magazine, to provide additional guidance. There are also several GUI themes available to customize the experience.
The app is available for free on the Google Play Store, with ad support, although a premium version is available to remove these ads.
(Image credit: Commercial Interceptor)
3. Commercial interceptor
A good option for forex analysis
Forex analysis tools
160 intelligence indicators
Free apps for iOS and Android
If you are looking for an advanced forex trading and analysis tool, you should take a look at Trade Interceptor. With the software, you can quickly find and track the best currencies and stocks in which to deposit your money. It offers 14 types of advanced charts, as well as 160 intelligence indicators and drawing tools.
Previously, the software was only available on desktop computers, but eventually it was routed to mobile devices. There is a touch and talk management feature, as well as split and quad screen modes, allowing you to keep your eyes open on multiple markets at the same time.
Like Netdania, the app works with the cloud, allowing you to access analytics, business data, and price alerts from any device. Provides continuous quotes for all major Forex, Cryptocurrency, Indices, Precious Metals and Commodities markets. Plus, you can access professionally curated news covering Asian, European, and American markets.
There are also a host of built-in business tools, including an economic calendar, data broadcast alerts, a business simulator, watch reports, and a risk scanner. These have been licensed and regulated by FCA UK and ASIC Australia, helping to increase customer confidence. The application can be downloaded for free on Android and iOS.
(Image credit: MetaTrader)
4.MetaTrader
The popular retail app
Multiple financial instruments
Interactive graphics
Tools and news
MetaTrader is one of the most popular trading applications for retail investors using Android devices. It allows you to trade stocks, currencies, futures, options, and other financial instruments from your mobile device.
The application provides a general analysis of the financial markets using a range of real-time charts including historical information, in order to monitor prices and prices.
You can also easily switch between different financial instruments, as well as SL and TP values on the charts, as well as view trading information. The charts are also interactive, with pinch and zoom options.
Also included are various analytical instruments, such as the Gann, Fibonacci, and Elliott tools, as well as up-to-date financial information.
MetaTrader has recently updated its applications from MetaTrader 4 to MetaTrader 5.
(Image credit: TD Ameritrade)
5.TD Ameritrade
One of the largest commercial platforms in America.
Good teaching material
Wide range of investment products.
Good for beginners
It can be heavy only for Forex
TD Ameritrade is one of the largest and most established trading platforms in the United States, offering a wide range of investment vehicles, not just currencies.
However, it really stands out from the fact that it is trying to educate forex traders to help them reduce the risk of losing money. It does so through its thinkerswim platform, which provides introductory material on
National Futures Association, which regulates futures brokers. Information is clearly presented, easy to read, and highlights risks to be aware of.
So, if you're new to forex trading, you can feel better prepared and more comfortable handling not just transactions, but risks with more confidence than rushing into dangerous levers. that can make you lose money quickly.
While this is a significant benefit for TD Ameritrade, it is a broad platform that covers a wide range of trading products, including stocks, futures, and options. Therefore, if you are looking to focus solely on forex, you may find the platform to be cumbersome at times compared to dedicated forex trading platforms, especially when it comes to comparing currency pairs.
Even in this case, the introductory and supporting documents deserve to be addressed. If you want to be more involved in forex trading, it is the perfect place to extend your investment strategy to other products.