How To Transform Your iPhone Into A Cutting-Edge Trading Platform
Isn’t it a wild thought that back in the day, traders used to call up their brokers if they wanted to enter a position in the stock market? Those days are long gone. In today’s hi-tech world, traders can enter and manage positions not only from their computers, but from Starbucks, Target, the bus, or virtually anywhere else that a phone signal can be picked up.
With one swipe and tap of a finger, traders can now manage their personal investment portfolios from their iPhones. In this article, we are going to discuss a few of the most popular trading apps for the iPhone.
Traders typically need a few things:
- Instant trade execution
- Good price fills
- Up-to-the-minute financial data
- Financial news
It used to take an entire room of computers and phone lines and fax machines to get all this information, but today, all of these things can be accessed via an iPhone.
Most major brokers now offer mobile gadgets apps where clients can enter, manage, and close positions, but E*Trade is often regarded as the most developed and cutting edge trading software. Traders can not only manage their personal portfolios from the phone, but they can also daytrade, read market research, and conduct in-depth chart analysis.
Every trader needs up-to-date financial news.The Bloomberg app brings this to the trader. Bloomberg Pro subscribers will be ecstatic to discover that the app allows them to access all market and data research articles with the swipe and tap of a finger.
Traders love financial information. Pairing the Reuters app with the Bloomberg app is an incredible 1-2 punch. Reuters offers a frequently updated list of cutting-edge financial articles and current headlines. This financial news moves the market each day, and traders can now get this information via their iPhone.
Yahoo! Finance has long been a favorite among traders. With the Yahoo! app, traders can build watchlists that track their favorite stocks, commodities, and indexes. The Yahoo! app also delivers market commentary and new stories throughout the day so that traders can stay fresh and in flow with the emerging fundamentals.
If you are a forex trader, this is the most powerful charting app available. Trade Interceptor offers charting packages on every major currency pair, and you can pull a data feed from over a half dozen different forex brokers. Charts can be seen from the 1 minute to the weekly timeframe, indicators can be drawn on them, and you can even connect your MT4 account to the charts and trade off the charts. There is also a very useful Alarm function that allows you to be notified when price hits key price levels you have identified.
The iPhone has provided traders with an incredible ability to stay connected to the market even when you are forced to be away from your desk for a period of time. Be warned, however! If you take you iPhone with you to the golf course, you may end up focusing more on the market than the game!