The Best Forex Mobile Trading Products
By Ted Rollins
, last updated August 11, 2011
FOREX, short for foreign exchange market and sometimes written as FX, is the worldwide financial market in currency exchange. Because the market takes place all over the world, the FOREX market moves throughout the day and night, unlike other centralized markets like the Dow Jones Industrial or NIKKEI. Thus, a FOREX trader must always stay abreast of the latest developments in the market, which is often best done using a mobile trading product; in what follows, you can learn about some of the best ones that work for FOREX trading.
Now that every trader has a smartphone, it's easy to find FOREX apps that work on iPhone, Android or BlackBerry products. Among the most popular FOREX apps is Dukascopy, which is run through the Swiss FOREX marketplace. Dukascopy offers multiple application and trading platforms, and is known for offering some of the tightest spreads in the FOREX market. Unlike many comparable trading apples, Dukascopy has a flat rate commissions on its trades, which start at $4.80 and go down based on volume. However, the Dukascopy app is only recommended for advanced traders, as it lacks tutorial materials and explanations of various trading lingo. You can also be interested in thinkorswim's mobile FOREX products, which are run by TDAmeritrade. The thinkorswim platform allows for more than just FOREX trading within its platform, and has lower overall rates than Dukascopy. What's more, if you use a TDAmeritrade account for your normal trading or a TDBank account for your finances, you can link the accounts and make access to your funds much simpler. However, the thinkorswim applications -- which are available for iPhone, BlackBerry and Android platform users -- don't allow for automated FOREX trading, which may be a deal breaker to some users. No matter which FOREX mobile trading product you decide to use, make sure to invest wisely and protect yourself from risk!