Trading Apps

Start by learning how to use a simple, low-cost trading platform. Once you've mastered that, you can move up to more complex platforms, and invest in many trading platforms.

How touse a trading app

No matter which platform you use, make sure it offers "real time" charts, fast executions, good customer service, and lots of educational resources. Once you understand the principles, you will be ready to start implementing your strategy.

How trading apps work

It is equally important to know the rules and regulations which govern the operation of this particular platform.

The currency pair which you are interested in trading on this platform is known as the “pivot” currency pair. This pivot currency pair changes every day, however, the platform will only allow you to enter and exit the market on this pivot currency pair. It is this pivot currency pair against which all other currency pairs will be measured. This means that when you are analysing whether or not a certain trade is profitable or not, you will be comparing the value of that currency against the pivot currency.

To help you visualize the concept, let’s say you are trading the British pound against the U.S. dollar. If the pound falls in value against the dollar, then that trade is going to be deemed “unprofitable.” However, if the U.S. dollar rises in value against the pound, then that trade is going to be deemed “profitable.” As you can see, it is very simple: all you have to do is figure out which way the market is moving against the pivot currency and that will tell you whether or not your trade is profitable.

The three basic types of trading apps

There are 3 main types of trading platforms:

Platform A: The most basic type of trading platform. It is usually offered by the Forex broker. Here is an example: As you can see, when you open up a Forex account with any broker, you get automatically a Platform A. What this means is that your broker will provide you with a web site where you can place your trades. Your broker will process your orders for you and notify you whenever there is an opportunity to make a trade.

Platform B: This type of trading platform allows you to design and create your own website. you can also use this type of platform if you have a personal computer and some knowledge about how to create websites. Here is an example: In this case, the broker is no longer providing you with a website. You have the option to create your own website and have your own brokerage account.

Platform C: This type of trading platform is the most advanced type. it is usually only available from large Forex brokers. This type of platform offers you complete control over your own website.

How to choose a trading apps

We will show you how to analyze the most important elements of a trading platform and how to evaluate these elements in relation to your personal needs. The next step in this process is for you to actually test a number of different platforms and see which one is right for you.

Choosing a trading application:

Your first choice should always be the most popular/well-known forex broker.

Your second choice should be one of the top 5 brokers according to the popularity criterion mentioned above.

If you are not satisfied with any of the choices mentioned above, then you should consider a more specific criteria as your next selection criterion.

Your final choice should be made on the basis of personal needs and circumstances.

How to test a trading apps (your checklist)

What is the most important feature of a good forex application? The answer is easy – it must allow you to trade with low leverage. If an application allows you to trade with 1:100 leverage, then it is a good application. However, most forex brokers offer much higher leverage than that. For example, many offer leverage of 1:10 or more. That means if you trade $100 with them, your actual investment can be as high as $910! Therefore, in order to find a good trading platform, you need to look for one which offers the lowest leverage possible.

It is also important to have an application which has good charting capabilities. Many brokers offer only simple linear and candlesticks charts. However, some brokers now offer advanced candlestick and even OHLC (Open High Low Close) charts. If your broker does not offer these types of charts, ask him to at least allow you to access third-party software which provides these types of charts. It is also important to check out the backtesting capabilities of the platform. Many brokers will tell you how many backtests they have done.

How to download and install a trading app on your phone

First look for the free forex mobile apps that will help you achieve the maximum profits from your investments.

It’s easy, just search “Free Forex Apps” on your smartphone’s app store and download and install the ones that interest you.

Once you have done this, check off each app on your checklist as you use it and take notes on which apps work best for you.

The trading application for you

If you trade forex and you haven’t downloaded an app to your phone yet, you are truly missing the boat. There are dozens of apps available for iPhone, Android and even Blackberry. You can get real time charts, real time news, live streaming of the exchange, trading calculators and much more.

There is no better way to learn how to trade forex than by actually doing it. You need to find an application (app) for your phone that lets you make trades based on the trends in the stock market. Here are some of the best apps out there:

Learning OnlineTrading

Top 3 Brokers' of the Month

All about Brokers

Cryptocurrency 101

HomeTrading Apps