Official stats claim that about 40% of forex traders are 20-40 years old. Furthermore, statistics say that 80% of people aged 16-35 worldwide use mobile gadgets actively. Consequently, plenty of FX investors make deals by applying smartphones and tablets nowadays.
However, traders frequently have problems when selecting the right forex trading app. That’s because making deals has numerous technical nuances. Therefore, picking an application that supports necessary trading features is so essential. But what functions are critical? Let’s look at this in more detail.
How to Choose Brokers Offering Forex Trading Apps?
Initially, investors need to pick a trustworthy brokerage company. Reputable intermediaries should have the corresponding licenses. Moreover, such brokers commonly propose that their clients sign contracts before trading. Ordinary people should clearly understand each section of these agreements.
Other Features of Trustworthy Brokers
Reliable brokerage platforms (like FBS) usually offer their customers plenty of various incentives, for example:
- encouragement for profile creation and verification;
- bonuses within regular promotions for loyal customers;
- different kinds of partnership programs;
- cashback for active dealers;
- bonuses for performing specific actions within the trading process.
Also, reputable brokers propose different types of accounts to their clients. There obligatorily should be a demo profile among the available options. Nay, respectful brokerage companies never take too high commissions.
What’s Better – iOS or Android Apps?
After selecting a brokerage company, dealers have to check if the chosen platform offers a suitable mobile application. Respectable brokers provide Android and iOS apps to investors. Some specialists think that applications for Apple devices aren’t worth making, although. This is because almost 71% of gadgets worldwide run Android. But they probably don’t know that mainly wealthy people buy Apple devices. And there are numerous quite rich dealers on the FX market.
What Should Investors Consider When Choosing Forex Trading Apps?
First, a dealer has to check if the picked application operates properly. There shouldn’t be any interruptions or freezes when it works. Moreover, experts advise FX traders to consider the following features:
- Availability of essential trading tools. Forex apps should offer users comprehensive charts, popular indicators, etc.
- Ease of use. It’s better to choose applications with user-friendly interfaces. This will help save time in searching for needed elements. That’s especially important for unskilled traders.
- Availability of most popular assets. This includes fiat money, cryptocurrency, metals, and so on.
- Presence of strong support. Reputable brokers propose round-the-clock client services to their customers. The support should be multilingual.
- Availability of various payment methods. Withdrawals and refills have to be performed quickly. Commonly, top-up operations take as much as a few minutes. And cash-outs usually last up to one day.
- Opportunity to activate bonuses. Dealers should be able to participate in any promotion or affiliate program by applying an app.
Furthermore, reliable forex trading applications commonly offer users the possibility of account creation and verification. Nay, qualitative apps are regularly updated.
Advantages of FX Trading Apps
Reputable brokers commonly offer their clients applications with quite low system requirements. That’s why such apps may be launched on old tablets and smartphones or even low-cost mobile devices. This feature is especially essential for novice traders. They don’t need to purchase new powerful gadgets to start making deals. The other trading applications’ benefits are:
- Possibility to earn money from anywhere with an online connection. So, dealers may trade during work breaks or vacations, while traveling, in public transport, etc.
- Respond quickly to market changes. This helps avoid hefty money losses.
- No need to purchase a PC or laptop to begin investing. Just install an app and enjoy trading in forex.
Dealers may find more information about FX applications in topic blogs (for example, on fbs.com).