Forex trading apps are mobile trading apps that have an equivalent functionalities because the web-based trading platform. you’ll buy and sell stocks, read financial news, follow the worth of your trades and obtain trading ideas. Mobile trading apps are vital once you want to remain up-to-date with forex news on the go.
With a daily trading volume of $5.3 trillion traded on the average a day , it creates better opportunities for South African traders everyday.
Top Forex Trading Apps for Android & iOS
Here are a number of the must have forex trading apps in South Africa to assist you to form the foremost out of these opportunities. List of forex trading apps South Africa:
1. The Trading Game
Best forex trading app for beginners and experienced traders
The Trading Game may be a liberal to use forex trading application. it’s suitable for both beginners and experienced traders. The app also teaches traders the way to start in forex and also give free lessons. once you want to reinforce your trading skills, try The Trading Game app.
2. eToro Trading App
For Social Trading
The eToro trading app, which is out there for both Android and iOS devices, allows forex traders to perform all of the actions available on the investing and trading platform. eToro trading platform also gives traders notifications regarding the foreign market events.
3. Go Forex
Forex trading learning app for beginners
Go Forex trading app is sweet for forex beginners. It teaches you about forex and also provides you with quizzes before supplying you with answers. As a forex trading beginner, you’ll enjoy learning through this app.
Forex trading news app good for financial news
The Bloomberg app offers accurate and concise finance news, stock exchange intelligence alerts and everything you would like to understand about currencies, commodities and futures, Bonds, Commodities & Currencies. Whether you’d wish to watch your stock portfolio or just wish to seek out breaking money news, Bloomberg provides the news and analysis you would like , whenever and where you’d love it
5. The Forex Hours
For Trading Alerts
Forex Hours provides a quick summary of the standing and native time of major forex markets within the planet . At those overlapping trading hours it’s probably you’ll realize the simplest volume of trades and thus additional possibilities to win within the foreign currency exchange market.
Features of the simplest online forex trading apps
In a developing world, there’s advancement in technology returning each day . Forex trading software package are also a product of those innovations. the entire business of a far off exchange depends on the performance of a software, thus it’s essential that traders choose a forex trading software that supports his trading style and carries all the alternatives which can make him facilitate generate most profit and fewer loss. Traders need to certify the forex app he’s getting has all the next options.
1. Accurate Forex Quotes
While choosing an honest online forex trading app, a trader need to stay tactful of the actual fact that he’s associate actor of a market that’s extremely volatile and undergoes changes each second of the day. In forex trading, it’s the modification in price of currency once decimal that determines the number of profit a trader goes to make out of a gaggle action. Many trading apps fail to note the minute changes returning within the price once decimal, that causes trader to lose money. It’s vital for traders to use an app which records and shows the foremost accurate forex quotes.
2. Reliable Deal Execution
The most basic ability needed by a trader is that the power to position the right deal at the right time. Therefore, the foremost required feature of a forex trading app need to be its secured ability to execute the deal while not a delay. Placement of deal at the right time is one altogether the foremost necessary options an app must have, otherwise the aim of shopping for the app remains futile for the trader.
3. Manage Accounts
A human mind usually fails to remain record of all the data a trader should deal in; so Forex traders and brokers use apps to have their work load shared. an honest online forex trading app must be ready to manage multiple accounts at identical time. An app provides solutions to every brokers and traders. an honest app facilitates all kinds of consumers, be them massive account holders or tiny.
4. Risk Management
Risk management is one altogether the key options a forex trading app must have. When traders invest money in forex, he/she doesn’t hesitate to follow all the ways during which will presumably save him from a fatal fall. If a trading app offers risk management to the trader, it solves his worries concerning his investments. A trader aims at keeping his business game tons of in his own hands than giving in to destiny. Trading forex is risky, that’s why it’s important for an app to possess this type of feature.
5. Fundamental Analysis Tool
Fundamental analysis tool in any forex trading software package updates market participant concerning the events getting to happen within the planet and their potential implications on the world economy. This analysis tool is significant as a results of world events confirm the rates of currencies current within the market and analysis tools estimate concerning the likelihood of a hike and fall within the prices of currencies. It analyzes all the factors that influence the forex rates.
6. Strong information Security
This is another tool that each forex trader must anticipate to. an excellent trading app keeps the data of its users safe with it and permits nobody to realize it while not a pass-code and verification. Forex is all concerning cash associate degreed an capitalist uses the trading app to make best use of that cash into the business. Traders desire all the knowledge of their investment to remain protected. A trader or broker never depends on a trading software that doesn’t guarantee protection of their personal data.
7. Minimal System period of time
A forex market works 24/7 then comes the fluctuation in its costs. A trader would never got to depend on a software that doesn’t give him all the specified data concerning forex market at the right time. If a trader desires to make a deal and thus the system is down, he undoubtedly goes to lose his moment and eventually the trade. Therefore, an ideal trading platform provides one hundred pc period of time and remains active and updated.
8. Support for Trading Strategy
Different traders use totally different methods within the forex business. A forex trading software package need to be designed in an exceedingly way that it accommodates all kinds of traders. If a trader depends on a extremely machine-driven system, he would anticipate to purchasing a trading software that’s confirming of his sort of trading whereas some traders like better to keep the business “off-shelf.” an honest app continuously provides solutions to all or any or any categories of traders.
9. Customer Service
It is additionally essential a software package have associate associated internet site with an active client service operated from the rear finish, thus if traders or brokers have any queries related to the forex trading software package they’re going to raise them there.
Benefits of Online Forex Trading Apps South Africa
Forex trading apps are a desktop or mobile based application that’s utilized in the forex trade. they provide the traders a platform to trade and monitor their trades also .
Why use Forex Trading Apps?
Real-Time Updates: one among the most reasons why traders use online forex trading apps is due to the real-time live updates. Several of the simplest forex trading application offers live streaming charts on the newest market news. this may give traders the prospect to watch the trades also on set the worth .
Customizable: Another one among the most benefits of forex trading applications is that they’re customizable. Most of the applications comes with a built-in economic calendar, news section and market reviews.
Analyse Forex Reports: With the utilization of forex trading applications, traders also are given a platform to research the forex trading g reports. These reports have information about the present trading rates. Making it easier for the trader to form trades also on keep track of what’s happening with the currency that they’re trading with.
Currency Converter: Trading apps also accompany a currency converter. this may help the trader to be in track of the present buying and selling rates of that currency. This assisting them to form accurate trades and not estimate the currency buying and selling rates.
Monitor Positions: Forex traders also use the applications to watch their positions. Not only that as these applications give the traders to watch their forex accounts also . Furthermore, through these apps, they will also make deposits and modify trading orders.
Interaction: a number of the applications also give traders the prospect to interact with other traders in their community. Some even offering traders the platform to interact with other traders from round the world.
Why prefer to trade with online trading apps?
Applications are cheap and straightforward to use. Once you’ve got downloaded the app, you’ll navigate through it easily and your information is secured
Apps for forex trading are compatible with devices like Tablets, Smartphone, iPhones, Blackberry,
- Windows also as Android devices
- Online trading apps are updated regularly to offer you the simplest online trading experience
- They are secured or protected with 256-bit SSL encryption
- Trading apps are liberal to download online. you’ll also get them on your App Store
- They also offer you an exclusive data and more detailed analysis on futures, indices, shares, forex trading and lots of more
- 4 sorts of trading apps
- iPad trading app
- Android tablet trading app
- Android trading app
- iPhone trading app
- Trade CFDs using Forex trading app
Online trading apps allow traders to trade CFDs. CFDs accompany tons of advantages which online traders can cash in of. Below are a number of the advantages that accompany the CFDs:
Trade for short-term or long-term
You can cash in of leverage when the worth moves in your favour
You can structure for the losses against potential earnings when handling CFD trading on the app
Different markets offered on mobile trading apps
With online trading apps, you’ll now access different markets like Shares, Forex, Commodities and Indices.
Shares – with the appliance on your device, you’ll open positions on many shares from big indices around across the world
Forex – you’ll trade forex (FX markets) with lowest amounts and pairs. It allows you to trade AUD/USD and EUR/USD at your finger tips
Commodities – you’ll no trade commodities including copper, gold, Brent Crude and lots of more. the great thing about this is often that the points don’t expire.
Indices – you’ll predict on a good selection of stock indices 24/7 and 5 days every week
Best apps for stock trading of 2019
Below are a number of the simplest stock trading apps that you simply can download. ask your stock broker’s website to ascertain if they provide trading apps.