Because most of us are constantly on our smartphones, it’s really not surprising to find that there even tools for forex trading have app versions that you can download from the Google Playstore.
Now you might be wondering how a forex trading app might be better than a full-on trading software that you download and use on your computer? Well, we can think of one main advantage and it is this: CONVENIENCE. You could be anywhere in the world or be on your way to work and still earn money while listening to your favorite music. You only need to make the winning trades.
Probably the most popular trading apps for smartphones is the XM MT4 Trader for Android, although there are many more out there. How does it work? You go to the Google Playstore and download the app. Then you set up your account, or if you already have an account on XM MT4, you can login with the same login and password that you use for accessing your account on a Mac or PC.
The good thing about an Android trading app is that it is 100% native to an Android environment. This means that the app will work as it should and you can make winning trades with it as long as you have an Internet connection.
As for functionality, well, you’d be glad to know that even though the app is made for the Android environment, it has the full functionality of a full MT4 software. You have access to three chart types and 30 technical indicators to help you make trading decisions. Best of all, you have access to your full trading history so you can come up with a winning strategy.
So, when you’re ready download your own Metratrader software now.
Now if you’re like most people, you’re probably wondering how a full-on trading is even possible when there aren’t enough computing resources on a smartphone. This technology is made possible with cloud technology or cloud computing.
With cloud computing, all of the apps’ files are stored on a cloud server, when you download the app, that app actually just acts as a portal for accessing the software. So, in a sense, nothing is actually happening on your phone as far as trading goes. Cloud computing is what makes it possible for you to run different apps at the same without overwhelming your phone’s computing resources.
Anyway, whether or not you trade on your PC or smartphone really doesn’t matter. What matters is that you have a winning strategy that will consistently make you money whenever you trade in the forex markets. To have a winning strategy, you need to know the basics of forex and practice trading.
Don’t worry, you don’t need to trade with real money. You only need to have a demo account or a practice account. Take your demo account seriously and make sure you consistently make winning trades before trading with real money.