Have you ever been in a position where you wanted to make a trade immediately, but you were away from your office and had no access to a computer? This used to be a common issue for traders, but the introduction of mobile trading applications has changed this scenario. Not only can you execute a trade while you are on the go, but you can also monitor your positions, alter your trading balance, withdraw and deposit capital and follow pertinent news.
Today, there are dozens of mobile trading apps available. No two are the same and most have attractive features and customizable options that make each mobile app unique. There are many that are very similar as certain brokers use a white label product that has a good reputation. To find the app that is right for you, you need to test drive the app on your mobile phone ensuring that it provides the trading support you need.
What is Important to You?
When you start evaluating a mobile trading app, you should try to determine if the features available will allow you to trade in a manner that you are accustomed to. If you don’t want or need to trade when you are on the go, then an app that supplies news, charts and analysis might be satisfactory. There are several very reputable mobile apps that allow you to monitor capital market changes. Some even have live TV that provides real-time information. If you need the ability to execute a trade through a mobile application, the best solution is through a reputable broker.
Using a Broker’s Mobile App
Before you begin to use a mobile app to trade, make sure you find a reputable broker that has put time into the development of its trading tools. The iFOREX trading app is designed by one of the leaders in the forex industry. iFOREX has 20-years of experience and a solid reputation.
The app delivers a customized platform that was built from scratch to fit their customer’s needs. Instead of rebranding their app, which is usually referred to as white labeling, iFOREX built their own app on the back of their customized browser platform. What this tells investors is that iFOREX is more comfortable providing customers something they would use to trade, as opposed to copying other popular mobile applications that are just rebranded. The company offers hundreds of trading products including forex and CFDs on multiple securities. In addition to offering commodities, indices, and shares, iFOREX offers ETF CFDs on specific stock sectors which adds a layer of sophistication.
The iFOREX trading platforms has a wide variety of features including charting capabilities and customizable interfaces. They offer a financial calendar as well as educational material. They also offer traders a demo account which allows you to test drive the app using demo money before you begin to risk your own capital. Before you begin to trade, take some time to perform some due diligence to determine the mobile trading app that will make your trading more efficient and hopefully, more successful.