Trading Mobile Apps

online trading apps are all different, but the simplest will share the subsequent qualities that make them convenient and functional for traders on the move.

Fast Execution Speed:

While this may depend upon your smartphone’s connection to the web , it’s important that the app itself doesn’t suffer any loss in speed in comparison to the desktop version of the platform.
Intuitive Platform Layout: Traders don’t want to waste time trying to seek out the trade or data they have when using an app. an honest mobile platform will have an intuitive layout and any open trades and other relevant information readily available with one tap.

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Full Functionality: Platform apps should match the functionality of their desktop versions the maximum amount as possible. App design should provide visual cues that are recognisable to users of the desktop platform. this may cause a neater on-boarding experience and an intuitive sense of the way to access the more important features.
Standard Funding Options: Both deposit and withdrawals should be available within the app, with an equivalent levels of banking security as available within the desktop version.
Trade Security:

More generally, security for all features should be of an equivalent level because the desktop application. But this is often especially important for trading execution.
Advanced Charting: While charts on a mobile device are getting to be less customisable than on a desktop, there should be a number of the more popular functions found on the desktop version. this is often especially valuable for custom indicators and customary timeframes.
Platform Stability: there’s nothing worse than a Forex trading app crashing once you the markets are moving against your position. Platform stability is an absolute necessity and will never be compromised.
Access to Customer Support: Your trading app should allow access to customer support; this could be either via chat or VOIP call.
Full Range of Assets: Any assets that are available to trade on the desktop version should even be available on the mobile app

Benefits of Online Trading Apps

The best online trading apps are designed with accessibility and functionality in mind. it’s a vastly different experience to trading at on your PC, but this is often not necessarily a nasty thing.

Convenience: Before the arrival of smartphone trading apps, Forex traders had to shut all their positions once they left their desk. Either that or hope that stop-losses and trading robots would protect their open positions. Accessing Forex news and data was also far more difficult. All the functions related to Forex trading can now be achieved via a trading app. the simplest apps will allow you to open and shut positions, use advanced charting to analyse the market and keep up of breaking news and economic data that affect the markets.

Mobility: While online trading apps are convenient, they also allow traders to continue all aspects of Forex trading while on the go. Whether you’re commuting to figure on a train, or walking down the road to travel shopping, you’ll keep track of your positions and therefore the market movements.
Response Time: Trading apps also allow you to reply to plug movements in a moment . instead of having to attend until you’re at your PC to require advantage of price movements, you’ll open or close an order immediately with the faucet of your screen.

Disadvantages of Forex Trading Apps

While employing a online trading app are often convenient and useful for traders on the move, there also are several dangers related to mobile trading. it’s knowing keep these dangers in mind before you begin employing a trading app on a daily basis.

Screen size: Professional traders operate twin desktops with multiple charts, covered in indicators, and sometimes hold numerous open trades. Trading on a smaller mobile screen won’t compare to the present level of complexity. Mobile traders should attempt to limit the amount of open trades and remember of the charting limitations on their trading app

Distractions: Mobile devices are designed to be with you once you do other things. Trading while you’re doing other tasks are often a dangerous game. If you’re trading on a mobile device, confirm that you simply have taken the time and space to guage your trading decisions before following through.
Execution Speed: While execution speeds on the simplest mobile trading apps are quite good, you ought to not use them for a blink of an eye , STP trading or scalping. Mobile networks are becoming faster all the time, but there’ll always be a delay relative to a desktop trading environment.
Overtrading: Often, the simplest move when trading is to try to to nothing – especially once you are on the move and without access to the tools and charts you’ve got at your desk. With the convenience of a mobile trading app, there’s the danger that you simply will end up trading too often and in ways in which you’d not normally do when at your desk.
Online trading apps are a useful addition to a trader’s toolbox, but should never be used as a replacement for a desktop platform. While their convenience is undeniable, there’s just an excessive amount of space for distraction and over trading while on a mobile device.