Direct Access to Forex Trading Platforms on Your iPhone
MetraTrader 4 is an iPhone app for users who dabble in the foreign exchange. The iPhone app gives you direct access to your forex broker’s servers and lets you monitor currency prices and get in-depth market analysis whenever you need it. MetaTrader provides users with a wide selection of graphical and technical data that make it possible for you to effectively manage your investments and profit from your trading activities.
In order to make any transactions with this app, you have to have a broker that uses the MetaTrader platform for currency exchange. If you are unable to find your broker, the app gives you the option of creating a demo account which gives you access to basic market data. Once your account has been created, you are provided with real time currency quotes, charts, trade monitoring and a history of all your activity.
The quotes provided show the buying and selling prices for most major currencies being traded in the foreign exchange market. You can toggle between basic and advanced views to gather as much information as you can about trading prices. In the advanced window, you are given the currency spread, the highest and lowest trading prices and real time monitoring of each currency’s relative price.
The charts section of the app gives you a visual representation of real time currency trading data. You can select what currencies you want to monitor and specify the type of chart you want to use to display your data. The charts can monitor currencies using M1, M5, M15, M30, H1, H4 and D1 timeframes. You also get comprehensive metrics such as Moving Average, Bollinger Bands, Average Directional Movement Index, Commodity Channel Index, Standard Deviation, Relative Strength Index and Money Flow Index.
You can also trade currency from the app’s interface by selecting a currency you want to buy from the quotes section. Your orders are processed through your broker’s servers and the app lets you specify the amount you want to trade as well as keep track of your balance, profit, equity and free margin.
MetaTrader 4 works will work with most major stock brokers and is a valuable tool to keep track of all your stock market investments on your iPhone. You can download it for free by visiting the iTunes app store.