Trading Forex using mobile devices has gained popularity in recent years. However, they have also attracted a dose of skepticism. Some traders think that mobile trading is not safe, realistic, or does not just work. We are here to show you that mobile trading does not only work; in fact, you can have remarkable experiences doing it.
By enabling you to be a part of the market on the go, mobile trading ensures that no matter how busy you are, you can always get to have a finger to monitor the market. This guide will show you the right devices to embrace to make it a fulfilling experience for you.
- Considerations when choosing a smartphone
If you want to have optimum mobile trading experiences, then you should not go for just any phone. Instead, you should make sure that the phone you choose is up to your trading tasks and can deliver top-quality trading experiences. Hence, you should be on the lookout for:
- Reasonable screen size
- Long-lasting battery life
Based on these and some other factors, here are our best two picks:
- The Samsung Galaxy Note S9 Plus
The Galaxy Note S9 Plus is arguably the best pick for convenient trading experience. Its 17-hour battery life and the 6.2-inch screen size ensure that you get the best of the action in the market.
- The iPhone XR
If you are an iPhone person, then the iPhone XR is your best shot. It has a battery life of over 10 hours. Its other advantage is that it is cheaper than the Samsung Note S9 Plus. Still, it could be cheaper.
Therefore, if you really have a low budget and crave a big screen size phone, then you might want to go for the Huawei Mate 10 Lite.
- Tablets, laptops, and notebooks
So, which other device do you wish to trade on apart from a smartphone? Do you want a tablet or a laptop? Or maybe you would not mind a notebook? For you to be able to make a right choice, you should know the differences between the three. Tablets do not have keyboards; instead, they have touchscreen with in-built keys for different functionalities.
Laptops are computers whose keyboards are in-built. Notebooks are laptops that are slim and compact, also with in-built keyboards. 2 in 1 tablets are those tablets that can be used in the forms of a tablet and a notebook.
Even though “2 in 1” tablets are better than their single-form counterparts, no matter the type you decide to go, you should ensure that it uses the Windows Operating System as it is more supported by most brokers than Mac.
- Choosing the best Windows 10 tablets for your trading
Using a tablet to trade always provides a highly comfortable experience. Because of their reasonably big size and sleek feel, a tablet could also be a good choice to ensure an enhanced mobile trading experience. Here are some of the choices you might consider:
- Microsoft Surface Book 2
The Microsoft Surface Book 2 has a highly powerful battery that makes it long-lasting. Its screen size of 15 inches easily enables it to deliver state-of-the-art mobile trading experiences while the internal memory, expandable to 1 terabyte on SSD, will make sure that you never have a lack of space. The only skepticism you might have about it is its price.
- Lenovo Flex 6 14
Lenovo Flex 6 14 is cheaper than Microsoft Surface Book 2. It has a 14-inches screen and a high RAM and internal storage facility all in a lightweight frame. This product, however, might not be readily available in other countries apart from the United States.
- Microsoft Surface Go
This device is especially budget-friendly, in spite of its commendable characteristics and powerful battery life. Although it us just 10-inch, its visual display is extraordinary. However, its average RAM of just 4G might prove inadequate for intensive trading needs.
- Microsoft Surface Pro 6
This tablet has a lightweight build that makes it extremely popular with people who move around often. It has a screen size of 12 inches, however, meaning that its display might not be adequate. You might find its increased battery life advantageous, though.
Besides, if you a looking for an Apple tablet equivalent of any of the above, you should go for the Macbook Air.
- Choosing the best mobile trading platform
So, how do you choose the best mobile trading platform? The answer is simple: check for the one your broker recommends or supports. Your broker is not doing the recommendation or support for nothing. Most likely, it will be either because your broker has special functionalities that work only on the platform it recommends or it has got other arrangements integrated with the platform to deliver top-quality services to its clients.
Besides, even though the MetaTrader 4, MetaTrader 5, and cTrader are the most widely-supported mobile platforms in the industry, many brokers now also offer their proprietary platforms. Some provide those custom-made platforms alone, while some others offer them together with the industry-standard MetaTrader. Going for your broker’s recommendation is the easiest choice to make.
However, notwithstanding the platform you settle for, adopting TradingView for at least your analysis and charting will go a long way to improve your trades. TradingView has become highly improved and can now be used not only on desktop but also on tablets and phones.
Irrespective the mobile device you eventually decide to use, what is important is that it helps you fulfill your trading needs. In this regard, a mobile device with substantial screen size is the best bet. Also, one that has enough random access memory (RAM) will enable you to open multiple markets at once without any glitch.
Then, we recommend you go for the mobile trading platform that your broker either recommends or supports. It is easier, less tedious, and comes with many advantages. Also, you might decide to combine both the broker’s in-house, proprietary platform (if it has one), and one of the industry-standard MetaTrader 4 or 5.
No matter the choices you make eventually, your ultimate goal of attaining profitability in the Forex market must be protected. 1000pip Builder is there to ensure that through their Forex signal and mentorship program. You should subscribe to both here.