Forex Trading App: Most forex traders in South Africa are interested in the best mobile forex trading apps because they make it easy for traders to trade currencies anytime at the comfort of their homes. The good news for traders is that there’s an increasing number of the best forex trading apps in South Africa for iOS and Android. Online forex trading apps help traders manage their existing positions, place trades and get real-time quotes. These mobile apps for Forex trading work the same way as the desktop platform.
With fast changing technology, forex traders in South Africa can now download trading apps and trade on the go or on their PCs. Apps for Forex trading are designed to be user friendly and easy to use. You can trade things such as shares, futures, stock as well as forex at your finger tips.
Best Forex Trading Apps South Africa Sites
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What are mobile forex trading apps?
Forex trading apps are mobile trading apps that have the same functionalities as the web-based trading platform. You can buy and sell stocks, read financial news, follow the price of your trades and get trading ideas. Mobile trading apps are very important when you want to stay up-to-date with forex news on the go.
With a daily trading volume of $5.3 trillion traded on average every day, it creates better opportunities for South African traders everyday.
Top Forex Trading Apps for Android & iOS
Here are some of the must have forex trading apps in South Africa to help you to make the most out of those opportunities. List of forex trading apps South Africa:
1. The Trading Game
Best forex trading app for beginners and experienced traders
The Trading Game is a free to use forex trading application. It is suitable for both beginners and experienced traders. The app also teaches traders how to get started in forex and also give free lessons. When you want to enhance your trading skills, try The Trading Game app.
2. eToro Trading App
For Social Trading
The eToro trading app, which is available for both Android and iOS devices, allows forex traders to perform all of the actions available on the investing and trading platform. eToro trading platform also gives traders notifications regarding the foreign market events.
3. Go Forex
Forex trading learning app for beginners
Go Forex trading app is good for forex beginners. It teaches you about forex and also provides you with quizzes before giving you answers. As a forex trading beginner, you will enjoy learning through this app.
Forex trading news app good for financial news
The Bloomberg app offers accurate and concise finance news, stock market intelligence alerts and everything you need to know about currencies, commodities and futures, Bonds, Commodities & Currencies. Whether you would like to watch your stock portfolio or simply wish to find breaking money news, Bloomberg provides the news and analysis you need, whenever and where you would like it
5. The Forex Hours
For Trading Alerts
Forex Hours provides a fast summary of the standing and native time of major forex markets within the world. At those overlapping trading hours it’s probably you may realize the best volume of trades and thus additional possibilities to win within the foreign currency exchange market.
Features of the best online forex trading apps
In a developing world, there’s advancement in technology returning a day. Forex trading software package also are a product of these innovations. The whole business of a foreign exchange depends on the performance of a software, thus it’s essential that traders choose a forex trading software that supports his trading style and carries all the choices which will make him facilitate generate most profit and fewer loss. Traders ought to certify the forex app he’s getting has all the subsequent options.
1. Accurate Forex Quotes
While choosing an honest online forex trading app, a trader ought to stay tactful of the very fact that he’s associate degree actor of a market that is extremely volatile and undergoes changes each second of the day. In forex trading, it’s the modification in price of currency once decimal that determines the quantity of profit a trader goes to form out of a group action. Many trading apps fail to notice the minute changes returning within the worth once decimal, that causes trader to lose money. It’s very important for traders to use an app which records and shows the most accurate forex quotes.
2. Reliable Deal Execution
The most basic ability needed by a trader is that the ability to position the correct deal at the correct time. Therefore, the foremost required feature of a forex trading app ought to be its secured ability to execute the deal while not a delay. Placement of deal at the correct time is one in all the foremost necessary options an app must have, otherwise the aim of buying the app remains futile for the trader.
3. Manage Accounts
A human mind usually fails to stay record of all the info a trader should deal in; so Forex traders and brokers use apps to own their work load shared. A good online forex trading app must be able to manage multiple accounts at identical time. An app provides solutions to each brokers and traders. A good app facilitates every kind of consumers, be them massive account holders or tiny.
4. Risk Management
Risk management is one in all the key options a forex trading app must have. When traders invest money in forex, he/she doesn’t hesitate to follow all the ways in which will presumably save him from a fatal fall. If a trading app offers risk management to the trader, it solves his worries concerning his investments. A trader aims at keeping his business game a lot of in his own hands than giving in to destiny. Trading forex is risky, that is why it’s important for an app to have this kind of feature.
5. Fundamental Analysis Tool
Fundamental analysis tool in any forex trading software package updates market participant concerning the events reaching to present itself within the world and their potential implications on the globe economy. This analysis tool is vital as a result of world events confirm the rates of currencies current within the market and analysis tools estimate concerning the likelihood of a hike and fall within the costs of currencies. It analyzes all the factors that influence the forex rates.
6. Strong information Security
This is another tool that every forex trader must look forward to. A great trading app keeps the info of its users safe with it and permits no one to achieve it while not a pass-code and verification. Forex is all concerning cash associate degreed an capitalist uses the trading app to form best use of that cash into the business. Traders desire all the knowledge of their investment to stay protected. A trader or broker never depends on a trading software that doesn’t guarantee protection of their personal data.
7. Minimal System time period
A forex market works 24/7 then comes the fluctuation in its costs. A trader would never need to depend upon a software that doesn’t give him all the required data concerning forex market at the correct time. If a trader desires to form a deal and therefore the system is down, he undoubtedly goes to lose his moment and eventually the trade. Therefore, a perfect trading platform provides 100 percent time period and remains active and updated.
8. Support for Trading Strategy
Different traders use totally different methods within the forex business. A forex trading software package ought to be designed in an exceedingly way that it accommodates every kind of traders. If a trader depends on a extremely machine-driven system, he would anticipate to buying a trading software that’s confirming of his variety of trading whereas some traders prefer to keep the business “off-shelf.” A good app continuously provides solutions to all or any categories of traders.
9. Customer Service
It is additionally essential a software package have associate degree associated web site with a lively client service operated from the rear finish, thus if traders or brokers have any queries associated with the forex trading software package they will raise them there.
Benefits of Online Forex Trading Apps South Africa
Forex trading apps are a desktop or mobile based application that is used in the forex trade. They give the traders a platform to trade and monitor their trades as well.
Why use Forex Trading Apps?
Real-Time Updates: One of the main reasons why traders use online forex trading apps is because of the real-time live updates. Several of the best forex trading application offers live streaming charts on the latest market news. This will give traders the chance to monitor the trades as well as to set the price.
Customizable: Another one of the main benefits of forex trading applications is that they are customizable. Most of the applications comes with a built-in economic calendar, news section and market reviews.
Analyse Forex Reports: With the use of forex trading applications, traders are also given a platform to analyze the forex trading g reports. These reports have information about the current trading rates. Making it easier for the trader to make trades as well as to keep track of what is happening with the currency that they are trading with.
Currency Converter: Trading apps also come with a currency converter. This will help the trader to be in track of the current buying and selling rates of that currency. This assisting them to make accurate trades and not estimate the currency buying and selling rates.
Monitor Positions: Forex traders also use the applications to monitor their positions. Not only that as these applications give the traders to monitor their forex accounts as well. Furthermore, through these apps, they can also make deposits and modify trading orders.
Interaction: Some of the applications also give traders the chance to interact with other traders in their community. Some even offering traders the platform to interact with other traders from around the world.
Why choose to trade with online trading apps?
- Applications are cheap and easy to use. Once you have downloaded the app, you can navigate through it easily and your information is secured
- Apps for forex trading are compatible with devices such as Tablets, Smartphone, iPhones, Blackberry, Windows as well as Android devices
- Online trading apps are updated regularly to give you the best online trading experience
- They are secured or protected with 256-bit SSL encryption
- Trading apps are free to download online. You can also get them on your App Store
- They also give you an exclusive data and more detailed analysis on futures, indices, shares, forex trading and many more
4 Types of trading apps
- iPad trading app
- Android tablet trading app
- Android trading app
- iPhone trading app
Trade CFDs using Forex trading app
Online trading apps allow traders to trade CFDs. CFDs come with a lot of benefits which online traders can take advantage of. Below are some of the benefits that come with the CFDs:
- Trade for short-term or long-term
- You can take advantage of leverage when the price moves in your favour
- You can make up for the losses against potential earnings when dealing with CFD trading on the app
Different markets offered on mobile trading apps
With online trading apps, you can now access different markets such as Shares, Forex, Commodities and Indices.
- Shares – with the application on your device, you can open positions on hundreds of shares from big indices around across the globe
- Forex – you can trade forex (FX markets) with lowest amounts and pairs. It allows you to trade AUD/USD and EUR/USD at your finger tips
- Commodities – you can no trade commodities including copper, gold, Brent Crude and many more. The good thing about this is that the points do not expire.
- Indices – you can predict on a wide selection of stock indices 24/7 and 5 days a week
Best apps for stock trading of 2019
Below are some of the best stock trading apps that you can download. Check with your stock broker’s website to see if they offer trading apps.
1. TD Ameritrade Mobile
When you want to trade stock, use TD Ameritrade App. It is one of the biggest brokerage firms in the world. The company offers a wide variety of mobile trading apps but of course it depends on your trading needs. TD Ameritrade offers mobile trading services including stock and options trading. It is available for Android, Windows and iOS.
Robinhood Markets Inc., or simply Robinhood, is a U.S.-based financial services company headquartered in Palo Alto, California. The app is free and you can invest in options, stocks, cryptos and EFTs and all commission is free. The app is secure and trusted by many people around the world.
Acorns trading app is best for beginners. If you are a beginner and you don’t know what you are doing. Download and use this app. Once you link your bank account with the app, Acorns will track all your transactions and round up your expenses to the nearest dollar which will be converted to your account so that you will be able to invest. This forex trading app also enables you to transfer funds to your account by yourself.
Stash trading app is best for learning. This mobile forex app is an American financial technology company offering a mobile app with micro-investing services. It aims to simplify investing and make it more accessible. With this forex trading app, you can start investing as little as $5. Besides helping you to invest, it also educates you and has tips and articles related to investing and online trading.
Stockpile is the easiest way for beginners, including kids and millennials to learn about stock, invest in stocks or to gift stocks. It also allows you to buy stock at big companies such as Amazon, Google and Berkshire Hathaway without having to pay $1,000 per single share.
6. E*Trade Mobile
E-Trade is a pioneer in trading technology, so it’s no surprise that the company’s mobile app is one of the best available from an online broker. With this app on your iOS device, you will be able to see real-time streaming data, place trades, and manage your trading accounts and many more.
7. Charles Schwab
Charles Schwab is the best app for banking. The Charles Schwab Corporation is a bank and brokerage firm, based in San Francisco, California. It was founded in 1971 by Charles R. Schwab and is one of the largest banks in the United States.
Many online trading brokers have their own banks but this app allows you to manage all of your Schwab investment and banking accounts with its mobile application. You can fund the account, make transactions and administrate your investments with just one app in one place. The mobile also offers you with a wide range of products and services, investment plans, online trading, EFTs and many more.
TradeHero is best known for offering fake money so that you can practice with it before trading with real money. The app allows you to play a stock market game on your mobile device. You can trade $100 000 to see how it would have turned out in real life.
Forex Trading App FAQs
Below are some of the most frequently asked questions about forex trading app in South Africa. We have decided to compile a list of answers to your FAQs.
How do I download the forex app on my device?
A popular forex trading app is available on both Android and iOS devices. To download the correct mobile app on your device, go to your app store on your smartphone, search for the app and download.
What can I do with my Mobile app?
A proper mobile trading app is a full-featured trading platform enabling you to trade, access analysis, analyse the markets, read news, set up trade alerts, charts and more.
Can I deposit money on the mobile apps?
Yes, you can go to “MyAccount” on your mobile app and make deposits.
Can I download forex trading app for Android?
Yes, you can download apps such as MetaTrader for iOS and Android phones. It gives you access to the Foreign Exchange markets from your tablet or smartphone.
How do I withdraw from MetaTrader 4 app?
Go to “Accounts” or “My Accounts”, the click on “Withdraw”. Then select the withdrawal method of your choice.
What are the best forex trading app for beginners?
Here is a summary of the best apps for beginners:
- Dukascopy – Best Desktop Platform, Mobile App
- XTB – Great Customer Service, Easy to Use Platform
- CMC Markets – Best for Low Costs
- Saxo Bank – Best Web Platform, Research
- FOREX.com – Great All-around, Low Costs
- eToro – Best Copy Trading Platform
- IG – Excellent Education, Most Trusted
What Are Other Popular Forex Apps in South Africa?
Other best apps for forex trading include:
- Forex Time FXTM
- Trade Interceptor
- TD Ameritrade
These are some of the best forex trading apps for PC, Android and iOS. Download legit forex trading apps online for your mobile. Get these Apps from Google Play or Apple Store.