Use Your Android Device to Trade on Forex and Stock Markets
MetraTrader 5 is a Forex trading app for Android that lets you trade currency with real time accuracy and flexibility. The app gives you direct access to your forex broker’s servers so that you can monitor any fluctuations in currency prices and get in-depth market analysis whenever you need it. MetaTrader provides users with a wide selection of graphical and technical data that make it possible for you to effectively manage your investments and profit from your trading activities.
In order to make any transactions with this app, you have to have a broker that uses the MetaTrader platform for currency exchange. If you are unable to find your broker, the app gives you the option of creating a demo account which gives you access to basic market data. Once your account has been created, you are provided with real time currency quotes, charts, trade monitoring and a history of all your activity.
The quotes provided show the buying and selling prices EUR, USD, CHF, JPY and AUD. You can toggle between basic and advanced views to gather as much information as you can about trading prices. In the advanced window, you are given the currency spread, the highest and lowest trading prices and real time monitoring of each currency’s price in the foreign exchange market.
The charts section of the app gives you a visual representation of real time currency trading data. You can select what currencies you want to monitor and specify the type of chart you want to use to display your data. Version 5 has a new “crosshair” mode which lets you tap on specific points of a graph to get more details about the currency being exchanged. The app provides you with comprehensive metrics such as Moving Average, Bollinger Bands, Average Directional Movement Index, Commodity Channel Index, Standard Deviation, Relative Strength Index and Money Flow Index.
You can also trade currency from the app’s interface by selecting a currency you want to buy from the quotes section. Your orders are processed through your broker’s servers and the app lets you specify the amount you want to trade as well as keep track of your balance, profit, equity and free margin. The purchasing options include in version 5 allow you to keep track of your investment portfolio and make purchases securely and quickly.