The Top 2 Mobile Platforms for Forex Trading

| November 18, 2014

Technological advancement has had a significant influence across a range of different industry sectors, both in terms of the way products are produced and the creation of an enhanced consumer experience. One of the most notable innovations has been the development of mobile technology, which has enabled users to conduct a range of business tasks regardless of the precise geographical location. With wearable technology now changing the way in which we monitor health, this trend is set to continue and expand into new markets.

 

The cultivation of mobile financial trading applications provides a relevant case in point, as this has played a critical role in allowing traders to execute transactions while on the move and helped them to maximize the profitability of their portfolios. With a rising number of alternative apps from which to choose from, Android uses in particular have been able to benefit by accessing the forex market with increased regularity.

 

The Top 2 Mobile Platforms for Forex Traders

 

With this in mind, it is worth evaluating the two leading mobile trading platforms on the market and understanding why they are so well-suited to operating in the volatile and constantly changing forex market. Consider the following options: –

 

  1. The MetaTrader 4

 

The MetaTrader series of applications have dominated the financial markets in recent times, and the fourth installment remains extremely popular among part time and independent traders. Renowned for being easy to use despite the integration of MQL4 and highly evolved Expert Advisors, the MetaTrader 4 (MT4) allows investors to implement automated strategies and trade without the need for constant portfolio manipulation. Available through reputable brokerage platforms such as Think Forex, the MT4 is arguably the most popular application in the series and offers the most effective visual representation of charts.

 

  1. The MetaTrader 5

 

Despite the enduring popularity of the MetaTrader 4, the fifth installment of this series is among the most comprehensive applications of its type. Featuring a total of 30 technical indicators and in-depth analytical tools, users are able to forecast price shifts and market trends within the boundaries of real time. Also equipped with a reliable offline mode, it is now possible to execute trades even without a viable Internet connection. Although it is generally considered to be more stylish and visually impressive than the MT4, many believe that it is not as easy to use and lacking the substance of its predecessor. So although the ultimate choice of which application to use belong to each individual, this information can be used a guideline to arrive at an informed decision.

 

Category: Investment

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