How to trade currencies through Forex mobile apps
Advanced mobile technologies allow us to handle everything on the go. Consumers use apps to do their shopping, pay bills, and even earn a living. Internet-assisted trading has also migrated to smartphones. In South Africa, traders may access global financial markets in a few taps. Here is an overview of popular modern tools.
In recent years, online trading in the country has grown exponentially. Today, when the economy is effectively put on hold due to COVID-19, its appeal is even stronger. With massive layoffs and wage cuts, consumers are turning to remote ways of working. Through trading apps, currencies, stocks, and derivatives may be bought and sold with ease.
Impressive Variety
There are literally hundreds of trading apps. Some are designed for clients of certain brokers, while others are universal. Making a choice may be difficult. The best apps are all-in-one tools that take trading to a new level. You should be able to:
- open and close positions quickly,
- monitor live rates,
- manage your account, and
- keep up with market changes.
The range of trading instruments may vary. Forex traders may be satisfied with currency pairs. Holders of diverse portfolios need access to diverse tools, and it may also be provided through an app. Such assets include assorted CFDs (e.g., on stocks, commodities, market indices, etc), binary options, stocks of tech giants, etc.
The Ubiquity of Mobile Technologies
Today, desktop software is less popular than apps. PCs and laptops are harder to carry than a smartphone or a tablet. Through an app, traders may check market stats and manage trades on the go, at any time.
Most popular tools for online trading, such as MetaTrader 4 and 5, have sleek mobile versions. These apps run on both iOS and Android, and they provide a smooth user experience. Brokerage firms also release their unique software – for instance, FXTM Trader.
Wide Functionality
The purpose of a trading app is to make useful features of a trading terminal portable. Users receive all incoming data on the go and make informed decisions regardless of their location. Top products like FXTM mobile trading app are more than convenient pieces of software. These are real masterpieces of programming. Aside from real-time market stats, they deliver:
- hundreds of instruments for trading;
- easy deposits and withdrawals;
- advanced charts;
- popular indicators,
- 1-click trading;
- monitoring of all positions, both open and closed;
- smooth operation.
Through FXTM Trader, it is easy to keep track of price dynamics, and adjust positions accordingly. Clients can manage their accounts on the fly. A single app meets all of their needs – no extra software is needed.
Traders need to act quickly to take advantage of momentary trends. Live currency rates allow them to react to the market quickly. Updates are delivered immediately.
An important benefit is cross-platform functionality. This means a position may be opened via a desktop terminal and closed via the app. Convenience is therefore maximized. The convenient trading dashboard shows all the necessary parameters: profit, balance, leverage, etc.
How to Get Started
Most trading apps are mobile adaptations of desktop terminals. Anyone familiar with the original product will find its portable version easy to navigate. Generally, you need a few simple steps.
- Download the app from App Store/Google Play and install it on your tablet or smartphone.
- Run the program and log in to your account.
- Start trading.
If you do not have an account, registration is mandatory. The procedure is quick and convenient. Demo accounts need only basic contact details and login details are emailed almost immediately!
The Bottom Line
Trading apps can be installed on smartphones and tablets. They provide easy portable access to accounts and market data. Users may open and close positions, keep track of trends, and manage financial transactions – all through a single product. Essentially, global markets are now in your pocket, with profitable trades just a few taps away.
Residents of South Africa may download advanced mobile solutions from Google Play and App Store. These allow trading 24/7, regardless of your location. Overall, these apps are products of predictable transition from online to mobile trading. While desktop terminals are still useful, they do not provide mobile access which many users need.