Complete Guide to the Best Forex Trading Apps

Introduction

In today’s world, apps are playing an increasing role in the lives of traders. Now you don’t have to sit in front of your computer all the time to become a successful trader. Mobile apps provide all the necessary tools to analyze the market and make trades. This article will help you understand the best of them and make an informed choice.

MetaTrader 4 and MetaTrader 5

MetaTrader is probably the most popular choice among traders. MetaTrader 4 focuses mainly on currency trading and is the industry standard for Forex trading. MetaTrader 5 provides a wider selection of trading instruments and assets, including stocks and commodity markets. Both versions offer powerful tools for technical analysis, including various indicators and charting objects. These terminals are available, for example, at the reliable forex broker RoboForex – https://revieweek.com/review/roboforex/. 

Advantages:

• Large selection of trading assets and instruments
• Possibility of automation with the help of scripts and experts
• Reliability and high speed of order execution
• User-friendly interface with the possibility of personalization

Opportunities:

• Opening and closing positions in one click
• Overlaying orders of different types (stop-loss, take-profit)
• Trading via mobile application
• Many charts and time intervals for analysis

List of indicators and oscillators:

1. Moving Averages
2. MACD
3. RSI
4. Stochastic Oscillator
5. Bollinger Bands, etc.

TradingView

TradingView is not just a Forex application. It is also a social platform that allows traders to share ideas and strategies. It offers many indicators and graphical tools, which makes it a versatile tool for analyzing various financial markets. A big advantage is the ability to customize the interface to suit your needs. This terminal can be combined with the platform of a reliable forex broker, for example, Tickmill – https://revieweek.com/review/tickmill/ or Alpari – https://revieweek.com/review/alpari/. 

Benefits:

• A social platform for sharing shopping ideas
• Flexible interface with the possibility of personalization
• Wide range of tools for analysis
• Integration with various brokers
• Extensive arsenal of indicators and graphical tools

Features:

• Fast opening and closing of trades
• Support for a variety of order types
• Social trading with the function of copying trades
• Analyze multiple assets on one screen
• Ability to add custom indicators

List of indicators and oscillators:

1. Fibonacci Retracement
2. Ichimoku Cloud
3. Volume Profile
4. Gann Fan
5. Elliott Waves, etc.

cTrader

cTrader is one of the most advanced forex trading platforms. It attracts traders with its intuitive interface, high-speed order execution and a wide range of analytical tools. With cTrader, you can trade not only currency pairs, but also other financial instruments. The platform offers support for algorithmic trading through cAlgo, making it a choice for traders of all experience levels. It is easy to combine this terminal in your strategy with a forex broker’s website, such as RoboForex or Alpari. 

Advantages:

• Professional and clean interface, convenient for beginners and experienced traders.
• Provides NDD-model trading (without dealer intermediation).
• High speed of order execution and minimization of slippage.
• Ability to work with multiple accounts.
• Support for algorithmic trading with cAlgo.

Trading opportunities:

• Wide range of currency pairs and other trading assets.
• Ability to trade directly from the chart.
• Advanced risk management settings.
• Option of quick stop or reverse order execution.
• Many tools for comparative analysis.

List of indicators and oscillators:

1. Average True Range (ATR)
2. Parabolic SAR
3. On Balance Volume (OBV)
4. Money Flow Index (MFI)
5. Donchian Channels, etc.

eToro

eToro attracts attention with its social trading feature. It allows beginners to copy trades of successful traders in real time. This gives them the opportunity to learn without risking large amounts of their own funds. The app also offers a variety of assets for trading, including cryptocurrencies. To get acquainted with this terminal, go to the eToro broker’s website. 

Benefits:

• Social Trading
• Wide Selection of Instruments
• User Interface
• Mobile version

Trading opportunities

• Copy trades
• Leverage
• Stop Loss and Take Profit
• Demo account
• News Feed

List of indicators and oscillators

1. MA
2. MACD
3. RSI
4. Stochastic Oscillator
5. Bollinger Bands, etc.

Leonie Brekke