Although there already were a couple of third party apps for trading forex on the iPhone, the trouble was you had to pay for them and they weren’t very good. Of course, with the popularity of the iPhone, the brokers had to come out with apps eventually, so I just waited.
The day has finally arrived and GFT and FXCM have both come out with apps. There are probably other brokers that have iPhone apps but I already have accounts with these two brokers, so these are the only ones I care about right now.
GFT is actually a really good broker, their customer service is top notch and they have good execution and decent spreads. However,
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Forex trading on the iPhone has been slow to catch on. The only way I have found to trade forex on the iPhone is through the Oanda web interface. I’m sure that there are other brokers that have similar web interfaces but nothing nearly as good as the Metatrader 4 apps on other devices.
When I need to check my charts on the road, I use the Forex on the Go – Lite application. It is a simple app that gives me basic charting, news, current prices and other tools like a pivot point calculator. Apparently they have a MT4 for iPhone app in the works, so I’m looking forward to that. You cannot add any indicators or customize the charts in any way unfortunately.
The Lite version is free and I see no real benefit to buying the premium version. This may not be the best solution to forex charting on the iPhone, but it does help. With all the software development power behind the iPhone, I’m sure they will come up with a killer forex trading app soon.
If only Apple will loosen up their software restrictions, the iPhone could be so much more!
If you have a favorite forex trading program for the iPhone, leave a comment below and let us know about it.
