Best app for forex trading of 2018
Apps to help you make profitable currency trades
Best forex trading app
Read on for our detailed analysis of each app
In todayís interconnected world, the foreign exchange market plays an important role in daily business. Itís a global, decentralized environment where financial institutions and businesses can trade currencies.
According to research from the Bank for International Settlements, foreign exchange trading generates an estimated $5.3 trillion (?3.9 billion) daily - making it larger than other financial markets. Often, itís dominated by large international banks and corporations, which work around the clock to trade and convert international currencies.
Forex trading also underpins international trade and investments. For instance, if American companies want to import goods from a country in Europe, theyíll most likely need to complete transactions in euros. Through forex, these firms can exchange dollars for euros quickly and easily.
As well as enabling trade between countries, forex trading is a lucrative investment opportunity. Every day, companies and investors make billions by purchasing and trading currencies. However, it does take a significant amount of experience and skills to make lucrative forex trades.
Thatís where forex trading software comes into the picture, automating this common business practice. Essentially, it ploughs through the market for the best currency trading opportunities. And in this article, weíve picked out the best forex trading apps around.
A nifty automated forex trading solution
When choosing any financial management platform, itís important to look for trustworthy providers. Used by traders in more than 180 countries and fully regulated, ForexTimeís FXTM software is a safe bet for foreign exchange trading. Itís positioned as an automated currency broker.
The great thing about this platform is that itís designed for professionals and beginners. For example, flexible leverage lets you increase your earning potential, but this is only offered to you based on your knowledge and experience. If you do intend on becoming an expert in this area, you can access a range of educational resources.
Currently, you can operate with both fixed and variable spreads, and when youíve completed a trade, the company processes withdrawal requests within just a few minutes. You shouldnít have any issues using the software, either. All you have to do is sign up for an account, upload your verification documents and transfer funds before trading.
Whatís more, the software can make trades with millisecond execution rates. In other features, you can get daily commentaries from the firmís market research team and make use of a series of free trading tools to make more informed decisions.
You can access the software on Windows, Mac, iOS and Android devices, and the company states that it covers 100% of your deposits up to $1,000 (?735).
An easy-to-use currency trading app
When it comes to making profitable forex trades, itís important to get an understanding of the current market. Netdania aims to do just that by providing you with trading ideas and strategies. The app also compiles data from more than 20,000 financial instruments and thousands of real-time stocks.
Positioned as a personal trading assistant, Netdania will tell you when you should enter or exit the market. Not only is the app easy-to-use, but it also provides you with real-time market news and updates within a economic calendar, and lets you share strategies with fellow traders. That way, you can learn from others.
Netdania provides real-time stock indices covering the Dow Jones, S&P 500, Nasdaq 100, TSX, Nikkei 225, ASX200, Hong Kong Hang Seng, Nifty 50, MICEX, EuroSTOXX50, FTSE100, DAX 30, CAC40, IBEX35, MIB40 and SMI20, along with statistics from industries such as oil, gold, silver and platinum.
Because the software is underpinned by cloud technology, you can easily share and sync data across a range of devices. And to ensure you never miss a potentially lucrative trade, you can sign up to receive push notifications about major economic events. Netdania is available in 18 languages and is free to download from the App Store and Google Play Store, although there are various in-app purchases.
3. Trade Interceptor
A good option for forex analysis
If youíre looking for an advanced forex trading and analysis tool, itís worth checking out Trade Interceptor. Through the software, you can quickly find and track the best currencies and stocks to put your money in. It offers 14 advanced chart types, as well as 160 intelligence indicators and drawing tools.
The software was previously only available on desktops, but itís finally made its way to mobile devices. Thereís a touch-enabled trade management functionality, as well as split-screen and quad-screen modes so you can can keep your eyes peeled on several markets at the same time.
Like Netdania, the app is powered by the cloud, letting you access analysis tools, trade data and price alerts from any device. It provides streaming quotes for all major forex trading, cryptocurrencies, indices, precious metals and commodities. Plus you can can access professionally curated news covering Asian, European and American markets.
There are plethora of built-in trading tools too, including an economic calendar, data release alerts, a trading simulator, intelligence reports and a risk scanner. These have been authorized and regulated by the FCA in the UK and ASIC in Australia, which helps to boost customer trust. The app is free to download on Android and iOS.
4. FXWare Currency
Keep track of international currencies
Clearly, an important part of forex trading is converting and making sense of a multitude of currencies. Thatís a pretty complex task if you try to do it yourself, but luckily thereís plenty of software out there to help - and FxWare Currency is a great example.
Available for Android devices, the app lets you convert more than 160 currencies and commodities using the latest foreign exchange rates. Whatís more, it gives you access to charts, daily forex rankings, a travel guide and an integrated tip calculator. Thereís also a premium version of the app available that provides market and currency news.
Keep bang up to date with market news
A big part of making lucrative currency trades is keeping up-to-date with the latest market news and events, and the DailyFX aims to do that for you. Available as a free download on Android and iOS, the app provides real-time technical analysis and commentary from a range of top analysts.
The software also functions as a jargon-buster for forex trading, constantly giving you facts about the industry from a live news feed. You can even use the app to keep up-to-date with the most popular commodities and indices, including the FTSE 100 and Dow Jones. Overall, itís easy-to-use and keeps a lot of info at your fingertips.
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Robot Trading Software Sites
It's not impossible to master binary options trading and like anything else, the more you put in the more you will get out. It's logical that the more you study the markets, get familiar with the various assets and learn more skills the easier investing will become. To become really good at making money you'll need a great broker, time and some patience. For some people investing this time is not an option and you may never reach your true potential.
Enter the robots! We don't mean physical machines that will sit at your computer and trade for you but binary options robots that come as part of pre-programmed software. This software uses complex mathematical algorithms to examine market data and then uses this data to trade with highly profitable and low risk results.
Different brokers allow the use of different robot software and once you have opened an account you'll be able to view all the compatible brokerages for that provider. You don't need to worry about who to choose. We have done the hard work for you and recommend brokers based on who offers the best trading experiences.
Want to know more about using binary trading robots? Our expert guide will explain:
- What binary options trading robots are and how they analyse markets
- The benefits of using automated software to make decisions for you
- How you can begin using various robot providers to make better trades
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Min. Trade: ūůŠ 66
*Success Rate: 92.76%
Min. Trade: ūůŠ 66
*Success Rate: 91.48%
Min. Trade: ūůŠ 66
*Success Rate: 89.72%
How Binary Robots Work
Quite simply the robot trading software is something that you download to your computer or other device once registered with a broker. A download is not always required, sometimes you can simply start use them online via a website. Investment using this method is known as automated or auto trading and is used by those that want to free up their time and increase their success rate.
Like any computer the capacity to research, consume and analyse data is much greater than the human mind so the machine can process all the data much quicker than any human being without emotion or instinct. By using this process more information is gathered at a much quicker pace allowing for more effective, profitable trades. The capacity to trade becomes much more and the number of successful trades increases.
Why then, wouldn't anyone want to take advantage of this help? To begin using the auto trading software you just need to choose a service that is compatible with your broker and simply start using it. To help you choose your provider we have researched hundreds of them across the world to bring you the best and offer up our advice on who you should trade with saving you both time and effort.
Benefits of Automation
- Save valuable time. Binary trading robots have a far greater capacity for information than the human brain
- Execute more successful trades. The gathering of so much data makes the trade more informed
- Trade without any emotion. Remove the "gut instinct" element
- Allows you to carry on with other things. You don't have to spend so much time in front of a computer or on your phone and can carry on with your life whilst still making money
- Less knowledge needed. You don't have to study the markets, trends, assets etc. or become an expert to be successful
- It's free or low cost to use once registered with a broker and doesn't always require a download
- Make more money. More success = greater profits
- Test them with both a virtual or demo account
- Anyone at any level can use them whether a binary options beginner or expert
There are unfortunately some "scam robots" that's purpose is to basically con the investor out of their money and they just don't work. There are tell-tale signs that should sound alarm bells as to whether a service is legit or not. These include no contact details for customer support, consistently bad reviews, a short operating time and only a few assets available.
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How Software Saves Time
The mere thought of downloading, installing or setting up a software programme may leave you feeling like it is more time consuming and complicated than it actually is. In fact, you will be surprised at how simple it is and how much time it will save you in the long term. Here are a few simple steps that will have you trading automatically within no time.
Choose a Robot Service
While you can spend hours carrying out research looking for the best robot trader, you probably don't have the time to. That is where our list of recommended services will save you a lot of time that you can spend trading. All you need to do is choose the one for you.
Download The Software
Many brokers or software providers will require you to download the software. On a mobile, this may be as simple as downloading the app. You can access some robot trading software via a browser.
Programme The Software
We don't mean that you need to be a programmer to operate the software but you do need to tell it what you want. Set your parameters which will include your investing limits, frequency etc. then leave the rest to the robot.
Sit Back, Relax And Enjoy
That's it. Now you are trading without doing anything. You can carry on with your business and leave the rest to the robot. Just check in now and again to see how your trades are doing and reset the parameters if you need to.
Now if you thought there was more to it than that and our list of tips would be much longer, you will be pleasantly surprised to know that the above is really all there is to it. You can go about your business whilst the program trades for you. You can work, go out with friends and even sleep all whilst the tool is busy on your behalf.
Using a binary robot also removes the anxiety you might get from trading. When you place a trade with an expiry time of an hour sometimes watching what is happening can put the trader through a range of emotions. By using this you can just check in every so often to see how you are doing rather than being glued to the screen for each trade.
Our Final Thoughts
Some unfortunate investors aren't always able to spot online scams and can lose a lot of money when they should have been making it. Before they notice there is anything wrong they could already have made many trades. There are things to look out for to try and prevent this happening but we highly recommend using our advice and recommendations to ensure that you register with a trusted and reputable binary robot software service that can offer you the best and most profitable trading experience.
We've done countless binary options robots reviews and found them to be a solid solution if you want to trade without having to dedicate all of your time to research and analysis. If you enjoy the physical element of trading, studying the markets, analysing and placing your trades then you will want to continue doing the work yourself but if you want to free up valuable time then this is the solution. Robots remove the emotion and decisions are based on facts and data, not gut instinct. This is one of the top reasons to use them.
We have tried, tested and reviewed the many types of software and know which companies offer the best binary robots trading experience and which software outshines the others. We believe that investing apps are a great way to save time and make money and to assist you in your quest to become a better binary options trader our advice and recommendations are designed to make this happen.
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Frequently Asked Questions
Is robot software reliable and trustworthy?
Like many aspects of a trading the reliability of its services depends on the reliability of a company overall. If you choose a recommended, reputable provider then their services will be tried, tested and reliable. There are companies that arn't reliable just as there are some aspects of online investing that cannot be trusted. All of our recommendations are based on research and reviews from our own experience and findings.
Can they really predict the right trades to make?
This is a good question because even machines can't predict the future, no-one can. What they can do is analyse data, trends and other aspects to come up with more reliably informed information than you could gather yourself. It would take you hours and hours to come up with all of the data that the software can do in seconds. There really is no way to beat the system but these tools can help to make your trades more profitable.
Will I need to pay money for good software?
No, there is perfectly good binary options robot software that is free to download and use. For the most part you will need to download it prior to opening an account with a broker. The top rated binary options robot software is free to use. You can also test the programs with your demo account meaning that you can get a real experience of the best it has to offer before you spend any of your own money on trades.
What if my robot trader gets it wrong?
Even with sophisticated investment tools it doesn't guarantee that you will be 100% successful. The robot just improves the chances of making successful trades. There will still be times when the software gets it wrong. No-one can predict what the markets will do and what will happen to have an impact or influence the different assets available to trade.
How do I find the best software to use?
That's easy. You simply review our recommendations and select a few from our list to check out for yourself. We base all of our findings on our own experience, tests and research. We only predict services that we are happy to put our name to. All of the brokers and services that we recommend are thoroughly reviewed and tested and we examine everything that the provider has to offer to ensure that your trading experience is the best it can be.