Becoming a skilled forex trader can be a difficult challenge due to the significant learning curve involved, especially if you’re not using the right tools and resources along the way. Every professional can benefit from using apps to streamline workflow, facilitate collaboration, and manage other critical aspects of their business. Forex trading is something that simply cannot be done without the use of advanced analytical and monitoring technology. That being said, here’s a quick review of the top five forex apps for Android that you can use to become a more informed trader:
Best News App: MSN Money
Being a forex trader is all about following the markets and staying on top of the latest developments. MSN Money has been around for a few years now, making it one of the more popular financial data tracking apps. This app not only curates and centralizes important news and information from a variety of top-notch sources, it also provides several built-in tools and calculators that you can use to perform better as a trader and gain greater control over your finances and investments.
Best Journal App: Trading Diary
Every serious forex trader should keep a detailed diary of the trades they make throughout the day. Maintaining an accurate journal like this can be difficult when you’re writing it all down on paper, which is where the Trading Diary app comes into play. With this app you have all the fields and charts needed to record and keep track of every trade you make, even on the busiest of days. You can also create up to five custom fields and export your entire trading journal to PDF format for sharing and viewing on other devices.
Best Chart App: TeleTrader StockMarkets
TeleTrader StockMarkets is one of the best Android apps for accessing real-time data from all the most important US and International markets. You can quickly access live quotes, push prices, news stories, charts & graphs, currency conversions, and other crucial info within a single convenient interface. It also features a stock screener and the ability to create personalized portfolios, watchlists, and criteria-based alerts. This app is highly rated in the Google Play Store, with a 4.6-star rating that comes from almost 20,000 reviews. Every forex trader should install StockMarkets because it’s one of the fastest ways to check real-time data from a multitude of sources.
Best Education App: Google Play Books
Unfortunately, you can’t just install an app and instantly become a great forex trader. Instead, you’ll be doing a lot of researching and learning to develop your skillset. One of the best ways to learn more about forex while you are on-the-go is to listen to audiobooks and read books on your phone or tablet. Thus, it is a good idea to download the Google Play Books app so that you’ll have an easy way to find and enjoy the best eBooks and audiobooks related to forex.
Best Trading App: easyMarkets
easyMarkets is our preferred forex trading app that can be used to trade Contracts for Difference (CFDs) across all the major global markets, including currencies, commodities, gold, and cryptocurrencies. The app is clean and easy to use, and has a simple sign up process that will let you trade within minutes. easyMarkets has been around since 2001 as a web-based platform, and its top rating on Trustpilot shows that it’s popular with traders. Unique benefits provided include dealCancellation, which lets users undo losing trades within 60 minutes for a small fee that is essentially held as insurance against losses. Users also receive live price notifications and free alerts based on popular trading signals. Within this one app you can trade popular currencies like USD, AUD, CAD, EUR, GBP and JPY, commodities like oil and gas, as well as cryptocurrencies including Bitcoin, Ethereum and Ripple.
Using Apps Will Make You a Better Trader
Ultimately, becoming familiar with an arsenal of apps is a step that every forex trader should take early in their careers. With instant access to all the data, alerts, and trade-making features you need directly on your smartphone or tablet, it will be easier to capitalize on the best trades anywhere at any time. Of course, these aren’t the only apps that you can use to get a better grip on the metrics, as there are literally hundreds of others that are popular with forex traders. While there’s no shortage of premium, paid apps that charge hefty fees, the free apps listed above are really all you need to get going.