Trading financial markets has never been easier and more accessible. With the rise of the smartphone, traders can now buy and sell stocks, commodities, and currencies with the simple swipe of a finger. It is a bit mind-boggling to consider that millions of dollars can be moved in the foreign exchange market by touching the screen of a phone! In this article, we are going to discuss 5 essential trading apps for your smartphone.
Every trader needs a strong charting software package. Trade Interceptor is arguably the best forex charting package available for the iPhone and Android markets. The app allows traders to choose a price feed from several different brokers. After you choose a particular broker price feed, then Trade Interceptor will populate charts ranging from the 1 Minute to the Monthly. There is also a good bit of historical data, and traders can apply classic technical indicators such as Stochastics, Fibonacci, and MACD, among others.
Another key feature is the ability to set price alarms. By setting a price alarm, you can be notified via text if price hits a specific price level that you are watching. This app helps you stay connected to the price action even when you are away from your computer.
This company has built its billion dollar reputation on the ability to deliver quality financial news as it happens, and its smartphone app has done nothing less. The Bloomberg app allows traders to receive up-to-date news articles detailing the most recent emerging fundamentals and news events. If you have a Bloomberg subscription, there is also an app for that. Therefore, either as a free or paid user, you can access a wealth of valuable information at Bloomberg in order to stay connected with financial markets throughout the trading day.
As one of the most well-respected currency trading brokers in the world, Oanda has delivered an outstanding piece of technology with its iPhone and Android app. Traders no longer have to be in front of their computers to buy and sell currency pairs. With the Oanda trading app, traders can now open and close positions, place pending orders, track real-time pricing, and conduct technical analysis with the swipe of a finger. Oanda offers lightning fast execution and reliable pricing for the serious trader.
Similar to Bloomberg, Reuters has built its company reputation on its ability to deliver quality financial news in a timely manner. Its smartphone app does the same. The Reuters app is highly customizable and allows traders to set the homepage up so that only news which contains certain keywords or specific types is filtered and made available. This allows traders to stay away from news that does not matter and only receive that which tends to have a direct impact on one’s trading interests.
Smartphones have changed the way we communicate and the way that we send and receive information. Trading financial markets has never been easier.