Every day, experienced investors make money by purchasing and trading currencies on the Foreign Exchange Market. As a Forex trader, the possibilities are endless, but it takes a certain level of skill and knowledge to do the job well.
There are many different variables you have to consider every time you make a trade. And you have to continually update and analyse your data to ensure that your decisions are accurate and well-informed.
That’s why the right trading app can make all the difference in your investment portfolio. This article will outline what you should look for in a mobile trading app and how to find the best trading app for your situation.
Are trading apps worth it?
Mobile trading apps continue to grow in popularity thanks to their convenience and ease of use. Mobile trading apps are an excellent option for beginners, but do trading apps work for more experienced investors? The answer to that question is a resounding yes.
As a seasoned Forex trader, you will likely find a mobile trading app especially beneficial. These types of apps give you more control over your portfolio and the flexibility to manage it from anywhere.
You’ll receive updates on global market news right from your phone. And when new opportunities arise, you’ll have the ability to act on them quickly as opposed to waiting until you get back to the office.
Plus, you have access to a whole suite of online tools and insights. With the right app, you can gain valuable insights that will help you optimise your trades. And you’ll have the ability to monitor your investments in real-time.
6 features of a great Forex trading app
Finding the right trading app can make a huge difference in your portfolio and can help you uncover advanced Forex trading strategies. If you’re on the hunt for the best trading app, here are six key features you should look for.
1. All-in-one mobile trading
The right mobile trading app will allow you to access a wide range of trading instruments. If you use an app like Vantage FX, you’ll have access to over 250 trading instruments, including Forex, Commodities, Indices, Share CFDs, and more. That’s why it’s one of the best stock trading apps for beginners, as well as experienced and seasoned investors.
2. Seamless trading experience
One of the disadvantages of using mobile trading apps is that they can be less reliable than desktop versions. Mobile apps are more likely to experience lag or crash altogether mid-trade. That’s why it’s a good idea to download and test out a new app with a few small trades first.
Any app you use should provide a seamless and reliable trading experience. For instance, the Vantage FX app will make it easy for you to open, close, or modify your instant execution orders and pending orders at any time.
3. Real-time trading signals
In the world of online trading, changes can and do happen at a moment’s notice. That’s why the Forex trading app you use should provide real-time trading signals. This information will allow you to make the most informed trades.
Another advantage of Forex trading apps is the ability to set up automated trading. If specific prices or market conditions are met, the app can automatically execute trades for you.
If you use the Vantage FX app, you’ll receive exclusive investment insights from upcoming major global financial events and in-depth market analysis. Few other Forex apps will give you these kinds of real-time updates.
4. Economic calendar and alerts
Economic changes in the market are often what drive Forex prices. Experienced investors who like to make large and frequent trades need a way to stay up-to-date on market news. This information will ensure that you aren’t caught off-guard after a big trade.
When you sign up for an app like Vantage FX, you’ll receive a suite of powerful trading tools. This includes things like:
- Custom watchlists
- Order management
- Trading signals
- Economic calendar alerts
- Global market news
5. Account summary at a glance
When you log into your app, you should immediately be able to get actionable insights into your portfolio. The interface should be user-friendly, and any charts and tools included should be easy to access and use.
Look for an app that provides a detailed historical or weekly analysis of your trading performance. And this should be easily accessible from your dashboard summary.
6. One-on-one customer support
No matter how easy the app is to use or how much detailed information you receive, it’s crucial to partner with a company that offers one-on-one customer support. Technical glitches can arise, and you want to know that help is available if you run into problems.
There’s nothing worse than needing to talk to a customer service agent and getting stuck on an endless phone hold. That’s why any trading app you use should provide access to phone and email support. The Vantage FX app offers real person livechat via the app 24/5.
7. Access to the best deals and promotions
And finally, you should look for an app that regularly offers great deals and promotions on trades. The right promotions can help you lower your trading costs and make your trading more cost-effective.
What is the best Forex trading app?
The right Forex trading app can help you gain new insights and make better, more informed trades. But you want to take your time and choose the app that’s best suited to your needs.
Look for a Forex app that provides real-time trading signals, calendar news and alerts, and access to one-on-one customer support. These features will ensure that you’re set up for success and have the resources and tools you need.
If you’re looking for the right Forex mobile app, you should check out Vantage FX. Learn more about the mobile app and how to get started and set up your account. Be sure to check out our free 100k demo account to practice risk-free whilst you test out our app.