Forex trading is the name used for trading where you buy one currency and pay using another currency. This trading is performed on the foreign exchange market. Forex is an abbreviation of foreign exchange. Forex trading is also known as FX trading. The foreign exchange market is the largest market in the world and currency worth more than USD 1 trillion is traded on the Forex market each day.
The forex exchange market used to be exclusive to banks and financial institution but the market is now open to retail traders that want to profit from the volatility of the global exchange rates. To be able to trade on the Forex market you need an account on a forex trading platform. There are a large number of different platforms to chose from. Many of these platforms allow you to trade on mobile and desktop devices. In this article, we are going to look at some of the best forex trading apps that allow you to trade on your mobile or pad. Most of these trading apps are available for both Android and iOS.
Yahoo Finance – Business news
Yahoo finance is an app available for both iOS and Android devices. It is one of the best free apps for financial news. The app makes it very easy to keep up to date with the latest business news. The app also features a number of other features such as asset and portfolio trackers.
Trading Game – Trading simulator
The trading game is a free app that has been developed to teach you how to trade forex and crypto. It can be a very good way to learn how forex trading works. It allows you to understand how the forex market work and to try different strategies before you start trading using real money. One of the main benefits of using this app compared to a regular demo trading account is that this app contains a lot of lessons that teach you how to improve your trading.
The trading game app is a good choice if you want to learn more about forex trading but is unsure whether or not you are going to want to start trading for real.
Etoro – Trading app
Etoro is a very popular social trading platform that allows you to trade a wide variety of different financial instruments ranging from stocks to CFD:s, crypto and Forex certificates. Etoro might be best known for their social trading platform, copy trader that allows you to automatically copy other traders trades. This is a feature that they promote heavily. This broker is very popular and has a lot of happy customers. Daytrading.com awarded them the title best US broker 2021.
The eToro app is very intuitive and easy to use. You can use it to make virtual trades using virtual money or you can open a real money account and start trading for real. A benefit of using the eToro app instead of the trading game app is that eToro allows you to use the exact same app to train and to make real trades.
One of the best things about the eToro trading app is the shere number of different financial instruments that you can trade with. Whatever you want to trade, you can trade it on eToro.
IQ Option Forex – Trading app
IQ option forex is a popular and easy to use app that makes it very easy to start forex trading. The app has a very user-friendly interface that makes trading a breeze. One of the main benefits of the app is that IQ option offers negative balance protection. This means that you cant lose more money than you have in your account. Something that otherwise is possible using leveraged trades.
Admiral Markets – Trading app
Admiral Markets app is a trading app that runs on both Android and iOS. It allows you to trade forex as well as a number of other financial instruments such as stocks and CFD:s. They offer trading on markets around the world. One of the main benefits of the Admiral Markets app is that it makes it very easy to hedge your trades to reduce risk. This app provides you with access to a number of good trading tools such as market analyzers.
Trade interceptor – Market analysis
Trade interceptor is one of the best mobile apps designed to provide you with the advanced tools required for market analysis. The tool allows you to create more than 14 types of the different advanced chart as well as a number of different indicators. It is a good way to analyse the markets while on the go. The small screen size makes the tools harder to use than they are on a desktop computer but a trade interceptor remains a good option when you are unable to use a desktop. The app gives you access to real-time market data from several sources.
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