This is part two of SMN’s series about the mobile trading applications. It was prompted by the ever growing presence of the smartphones and tablets in the everyday life and the increasing dependence on those devices. Like practically all companies offering their services through the internet, the brokers are trying to keep up with the trends and find their place in the pockets and the handbags of the people.
Last week we had a look at the most popular mobile applications for forex trading and trading platforms for the most widespread mobile operating system – Android. We sorted them by number of installations for lack of other relatively objective criterion. With the mobile applications for iOS our ranking task proved even more complicated, because iTunes does not give information on the number of installations, so we decided to simply do an overview of the mobile trading applications. They include a the apps of the largest publicly traded forex brokers in terms of market capitalization in March, the larger privately-owned brokers and the two most widely-used trading platforms – Meta Trader 4 and 5.
LARGEST PUBLICLY TRADED FOREX BROKERS
The iOS mobile trading application of Interactive Brokers does much the same as its Android application, which was recently updated. The users can monitor market activity and trade with real-time quotes and use charts and market scanners. The application supports standard and complex option spreads. Non-registered users can view unlimited delayed quotes. The application can also be added to Apple watch for account summaries.
The iOS mobile application of IG Group offers trading in forex, CFDs, shares, indices, commodities with live, real-time prices, trading “at quote” or via direct market access. Users can edit watchlists of preferred markets, keep track of open positions, set price alerts, track markets with charts and receive live market news from Reuters. Spread betting and stockbroking accounts are available only to clients from the UK and Ireland. The application can also be used on Apple watch.
The iOS mobile application of Plus500 offers trading in forex and CFDs on stocks, indices, ETFs and commodities. The users get access to real-time market quotes from popular stocks, indices, forex pairs and commodities. They can practice trading with a free unlimited demo account; open and close positions, view their balance, equity and margin and use real-time charting.
The app is also available for Apple watch.
The iOS mobile application of CMC Markets provides access to trading in over 9500 financial products like CFDs on forex, shares, indices, commodities and treasuries. The application allows users to view and manage their positions, trade on live streaming prices, use multiple chart types, technical indicators, drawing tools, date ranges, interval sizes and real-time updates, manage risk with stop order and take profit options, create Watchlists, configure alerts and view product details, including spreads, margins, volatility and market hours, access the Reuters News service and global analysis.
Much like Monex, GMO Click has several mobile trading applications for iOS.
– iClick Stock – for trading in stock
– iClickFXneoPlus – for over-the-counter trading in forex.
– iClickFX365 – for forex trading.
– iClickCFD – for trading in CFDs
– iClick foreign exchange OP
The Japanese forex brokerage has several iOS mobile trading applications:
– FX Plus – for forex trading
– Monex Trader – for forex and stock trading
– Monex FX Premium – for forex trading
– Monex Market Station – for futures trading
Gain Capital (Forex.com)
The mobile application for iOS devices of Forex.com offers trading in over 50 forex pairs and gold and silver. Users can place trades, manage positions, view customizable charts with multiple drawing tools, access research and get live chat support. They can use charts, drawing tools, technical indicators, historical data, receive rate alerts, stream headlines from Reuters News and FOREX.com’s proprietary FOREXInsider for current market commentary and analysis, as well as monitor economic data with an Economic Calendar.
Money Partners Group
Another Japanese forex brokerage with more than one mobile application:
-FX- HyperSpeed Touch
-FX- HyperSpeed Touch nano
FXCM Trading Station Mobile
The mobile application for iOS devices of FXCM offers trading in forex, precious metals, commodities, indices, etc. The users of the application have access to live executable forex exchange rates for more than 50 currency pairs, interactive charts, chart indicators, streaming market news, economic calendar and depositing of funds.
PRIVATELY OWNED BROKERS
This mobile app for iOS devices offers more than 400 instruments to trade, charting tools optimized for iPhone and iPad, financial news stream, all types of pending orders and free non-expiring practice account with virtual money. The Android counterpart of the Trading 212 mobile application is among the most installed forex trading apps, according to the Google Play Store.
The fxTrade mobile app is designed for professional traders and offers institutional-level trading features for 90 currency pairs, precious metals, and CFDs. Users can manage positions, control risk and monitor account profitability, use customizable charts and view premium news feed and economic calendar, real-time price quotes and automated alerts. There is also a demo account.
FxPro – cTrader
The UK forex broker FxPro is using the cTrader platform, developed by Spotware Systems as a white-label solution. Its users can trade in forex, indices, metals and energy and can use advanced charting functions and technical indicators. It allows single tap order execution and provides volume information, full trade histories and the option to modify pending orders.
Saxo Bank – SaxoTraderGO
The Saxo Bank application for iOS devices offers trading in more than 160 currency pairs, forex options, CFDs, stocks and futures. The application allows direct access to the trading accounts, placing and management of orders and viewing of account balance, equity and margin details. There is also a demo account.
eToro offers three trading applications: Mobile Trader, The New eToro and Social Trading.
The Mobile Trader offers real time quotes, live market rates and instant order execution. Users can trade in stocks, currencies, commodities and indices. The Social Trading app lets users see, follow and automatically copy the top performing investors in trading in forex, CFDs, stocks, indices, commodities, currencies and ETFs. The New eToro, it seems, does the same things as the social trading app.
Developed by MetaQuotes Software, MetaTrader 4 (MT4) is the most popular forex trading platform and is used by hundreds of brokers. Much like the proprietary trading platforms, the MT4 mobile app for iOS devices offers more or less the same functionality as its desktop version. It provides real-time quotes of financial instruments, full set of trader orders, including pending orders, all types of trade executions. Trade from the chart option is available on the iPad version of the app.
The MT4 for iOS devices offers the majority of the advanced functionality of the desktop version, including high-performance charts, trade levels, information window that displays orders, trading history, etc., free financial news. There are also technical analysis tools, such as real-time price charts, the 30 most popular technical indicators, analytical objects and three types of charts.
MetaTrader 5 (MT5) is the successor of MT4, but until recently lacked the hedging functionality, which made it somewhat less popular among the brokers. This week MetaQuotes launched a new beta version of the MT5 desktop version and updated the iOS app and now both are offering hedging.
The MT5 mobile app is used for trading on the forex and stock markets. On it users can trade, receive stock prices and currency quotes, analyze financial markets using charts and technical indicators and view their account and trading history. The platform includes real-time quotes, free financial news, technical analysis tools, technical indicators, analytical objects and three types of charts.