Did you know that there are several opportunities and strengths of profit in the forex market that you can achieve? Currently, this is made easier by the many options of applications based on Android or iOS to support trading and investment activities. Here are the best forex trading applications that can be used for both beginners and expert traders.
The Best Forex App
There are various types of forex trading applications that you need to know. Forex trading application is a mobile application that allows you to trade or get information that can help you to be more observant when making buying or selling decisions on certain forex pairs. Through forex applications, generally you will get relief when reading price movements and profit opportunities that you can achieve more easily and quickly in real-time.
Because of this application, you don’t always have to monitor, analyze and determine where you need to open statuses to profit from forex trading. It is not surprising that the current forex trading application has become a ‘close friend’ for some traders and is one of the sympathetic factors in seizing opportunities in the forex market.
Although there are tons of applications out there, not all of them have features that you can prioritize for trading. Today’s forex trading applications, whether based on Android or iOS, consist of two options, namely forex broker trading applications and non-broker applications.
Forex broker trading application is an application prepared by a broker or brokerage company to help optimize the trading performance of each customer, if using an application from a forex broker, make sure you choose the best, most trusted and regulated forex broker.
And non-brokerage applications are applications that are prepared by non-brokerage companies or are generally developed by individuals or groups.
What are the best forex trading apps for both beginners and expert traders?
1. Metatrader 4
Metatrader 4 or better known as MT4 is the most used forex trading platform in the world and is still the best forex trading application in 2021. MT4 was developed by the company Metaquotes Software Corp and was launched in 2005. MT4 is not only available in the form of software for PCs or PCs. netbooks, but also in a mobile version of either Android or iOS and can be downloaded and installed on your mobile. This one application can be applied in various OS (Operating Systems).
In the MT4 trading app, traders can follow price movements, perform analytics and complete orders within the app. The special advantage of MT4 lies in the improvement and implementation of trading algorithms. Automated trading on MT4 can be developed by a forex broker, multiple traders, or a 3rd faction.
MT4 allows forex brokers to send trading signals directly to the base. Not only that, the installation of expert advisors or forex trading robots can be carried out easily on the basis and will automatically run on the MT4 application on mobile devices.
Some traders can also create their own automatic trading mechanism in the MQL4 programming language. These advantages of MT4 make this application more loved by some traders and most forex brokers certainly provide MT4. MetaTrader 4 is the most preferred Indonesian forex trading application.
2. Metatrader 5
Metatrader 5 or MT5 is the latest forex trading platform released by Metaquotes Software Corp which was launched in 2010, MT5 has various additional features that are not available in MT4, such as timeframes of 21 instead of 9, separate economic calendar, and a unified marketplace. MT5 is also in versus mobile app. However, many forex brokers and traders prefer to use MT4 than MT5, because expert advisors and custom indicators created with MQL4 cannot be used on MT5.
If a trader wants to trade with a similar automatic mechanism, they must rewrite the application with MQL5 because the trading mechanism that is reliable on MT4 cannot be used on MT5. Standard MT5 settings are regulated based on the provisions of the United States regulator, the NFA, which prohibits hedging by implementing FIFO (First In First Out).
This causes a loss for traders who use hedging strategies, especially hedging on a pair and for that reason, generally MT5 users are traders who did not initially use MT4.
3. ThinkTrader
The next best forex trading application is ThinkTrader or originally known as Trade Interceptor. If you are looking for or want to try a trading application that has great analytical and forex trading tools and complete diagrams, but is still easy to use for beginners, then ThinkTrader is the answer.
After being taken over by ThinkMarkets, this application underwent a rebranding as ThinkTrader in 2017. Since its release, this application has added features for trading forex, stocks, cryptocurrencies, and commodities.
Traders can also connect technical analytical tools and live charts for the majority of forex pairs, precious metals, cryptocurrencies, and over 1000 stocks via this app. You will be presented with 10 types of price charts, starting from bars to candlesticks. The role of deposits and withdrawals in the application exists as long as your account has been confirmed. ThinkTrader provides a built-in information portal if you need up-to-date financial information.
This application provides a feature of closing and opening statuses with one click so that traders can close all statuses and all statuses can also run with 1 click.
4. FXTM
FXTM application has been used by more than 180 countries in the world and as an application developed by FXTM broker. Interestingly, this application is designed for experienced traders or beginners, so that it can be used by various groups.
The information display on the FXTM Trader application page is designed to be easy to read by presenting balance, margin, profit and more. To complete the waivers that have been given, there is a one-click execution feature. This will further increase effectiveness for traders who need speed in doing business.
This application has a feature that will provide market analysis from several experts so that you can make accurate trading decisions.
Still having doubts about opening a live trading account?
If you are a novice trader and are still hesitant to make a deposit, this is definitely normal, psychologically you are not ready to trade or invest. Before you are really ready to trade, you can practice by opening a demonstration account at GICTrade.
The Best Forex Application
GICTrade is a forex trading platform owned by GIC. This forex trading base confronts traders and market makers. You as a potential customer can definitely choose between the two, namely being a trader or a market maker.
In addition, GIC has a GIC Social Trade feature. By using the Social Trade feature, you as a trader become a follower who can follow the actions of several masters in trading, either through copy trades (follow the trading treatment of several masters) or reverse trades (act the opposite, for example: master buys, you sell).
This feature makes it easier for novice traders to always be able to learn forex trading but still make a profit.
By opening a demonstration account at GICTrade, you will immediately learn and recognize the MetaTrader 5 application because GICTrade uses the MT5 forex trading application to carry out business transactions. Let’s learn forex trading starting from now!
