Recently, there has been an increase in the number of forex trading apps in the market. While this gives traders a healthy number of choices, it is easy to feel overwhelmed by the numerous choices. It gets even more daunting considering that most apps offer almost the same capabilities with a few differences.
To make it easy for you, below are the top 5 best trading apps that offer advanced features and unique capabilities:
What comes to mind when asked what is automated trading? Probably, it is the emotional relief that comes from using this technology when making trading decisions. As a result, you minimize the risk associated with manual trading giving you a better chance in achieving desirable results.
Fortunately, MetaTrader 4 covers the importance of automated trading to investors and as such it comes with Expert Advisor trading bot. The cutting-edge technology used in this bot aims at generating trading signals via algorithms that use technical indicators. Unlike most automated trading systems, the app not only alerts you about these signals but also acts on them ensuring you don’t miss any trade.
Even with its complicated trading technology, the app features a simple user interface allowing ease of accessibility. Other advanced capabilities include; fast order execution, efficient account management and numerous tools for market research.
X-Trade broker mobile app is centered on proving the users with updated market data. It has good research tools that are complemented with financial news and market sentiments to keep you in the know.
Compared to most broker apps, the XTB charges lower spreads and trading fees. The cost of using the app is further cut down by the affordable non-trading fees and free withdrawals on all earnings. It becomes even more affordable for the active professional traders, who meet a trading threshold of 100 lots. Upon reaching this limit, the app will refund you a portion of the spread. However, you must have upgraded to the Pro account to enjoy the refund benefit.
Since its inception in 2010, Pepperstone has managed to establish itself as a top-tier forex trading app. Although it offers several complex features, the app is well-organized interface and trading guides, make it easy for users to navigate through.
There are various account types offered by the app each offering fast executions and automated algorithmic trading. This makes the app appealing to both beginner and professional traders, especially considering its above-the market tight spreads.
The best thing about this app is the fact that it has no dealing desk. This helps reduce potential conflict of interest while ensuring every trader gets an equal trading opportunity, regardless of their account type.
easyMarkets offers three account types each with varying spreads and trading costs. The VIP account requires a minimum deposit of $2,500 while the Standard 1 account requires $250 deposit. Although the Basic account requires a lower deposit ($100), it has a spread of 3 pips. This makes it a more expensive option compared to the other two accounts offering a fixed spread of 1 pip on the EUR/USD.
Similar to traditional trading apps, easyMarkets features watchlist customization, and sentiment indicator capabilities. However, it is the advanced features such as deal cancellation and freeze capabilities that set this app apart from the rest. Other unique features include the ability to overlay currency symbols across ten timeframes and chart types for comparison.
With access to over 50 forex pair in 6,000 markets, ETX seeks to provide customers with highly competitive prices for high returns. The app also prides itself in offering competitive leverage rates of 100:1 and a spread of 0.6 pips for the EUR/USD. What is even better is that the tight spreads and leverage rates apply to both account types of the app.
For the beginner traders, you may consider getting started with the demo account first before trading. This account gives you a real-time experience of using the two main account types so you can get familiar with the navigation interface. Once you are ready to use the trade, you can register for more than one account in the two main trading platforms.
Trading apps are an essential tool in keeping track of the liquid forex market. As such, be sure to check out the above review of some of the top-rated apps, to help you choose a high-performance app.