- COST: Free - APP STORE STARS: 3-1/2
- Categories: Business, Finance, Lifestyle, Native, Productivity, Trading
MetaTrader 5 trading platform allows you to use Forex on your iOS device. In explanation of the term, Forex is an acronym of the words "Foreign Exchange". So when you trade Forex, you are trading currencies from different countries against each other. Forex trades are typically placed through a broker.
So how does this app prove to be helpful? Well, with MetaTrader 5 you can receive quotes, trade as well as view the history of your trades. These are all super helpful tools while traveling or on the go every day. Let's take an in-depth look at some of the features offered in this Forex currency trading, iPhone and iPad finance app:
• Real-time quotes of financial instruments
• The full set of trade orders, including pending orders
• Support of all types of execution modes
• History of trading operations
• Real-time interactive charts with zoom and scroll
• 30 most popular technical indicators: Accelerator Oscillator, Accumulation/Distribution, Alligator, Average Directional Movement Index, Average True Range, Awesome Oscillator, Bears Power, Bollinger Bands, Bulls Power, Commodity Channel Index, DeMarker, Envelopes, Force Index, Fractals, Gator Oscillator, Ichimoku Kinko Hyo, MACD, Market Facilitation Index, Momentum, Money Flow Index, Moving Average, Moving Average of Oscillator, On Balance Volume, Parabolic SAR, Relative Strength Index, Relative Vigor Index, Standard Deviation, Stochastic Oscillator, Volumes and Williams' Percent Range
• 7 timeframes: M1, M5, M15, M30, H1, H4 and D1
• 3 types of charts: Bars, Japanese Candlesticks and Line
• Adjustable graphical settings of technical indicators (color, line width)
• User friendly interface
• Trade levels and volumes on chart
• Offline mode (prices, charts, current positions, all trading history)
• Minimum traffic
• Push notifications from the desktop terminal and MQL5.community services, viewing received notifications
When you launch MetaTrader 5, choose between options to Login with existing account, or Open demo account. Once you are registered and have selected your broker, the screen will display Quotes, Chart, Trade, History and Settings underneath, while you have the option for Simple or Advanced views above. (See the 1st screenshot on top left of this page). These tabs will give you easy and convenient access to all your trading needs.
Tap a currency, for example, USCAD: US Dollar vs Canadian Dollar, then have the option to Trade, Chart or see Details. Tap Trade and you will be able to adjust the wheel for Instant Execution, Buy Limit, Sell Limit and the same for Stop Limit. MetaTrader's Chart images contain many finely-tuned adjustments on top of the screen. (Screenshot 2 above right is an example of the Chart feature). The Details screen will provide items such as the Spread, Digits, Stops Level, Contract Size, Margin Currency etc., as well as your Sessions time.
The Trade button (Screenshot 3 above) will give you the details of your recent trade as well as show any Open position. Once you have conducted transactions, you will be able to view these under the History button. Use Settings to further make your business easier and customized.
I would have to say the interactive charts are a real bonus to work with. Scale and scroll through them as you wish. Change timeframes to suit your needs. Even more important, technical analysis becomes a snap when you have all the indicators necessary at your fingertips. This clear and simple interface really does make it easy to achieve the results you need. Move quickly and easily between screens that are all geared to make mobile trading a snap. More importantly, MetaTrader's security system takes the risk out of your transactions.
The bottom line is that with MetaTrader 5, mobile Forex trading reaches new highs. Don't be tethered to a desktop when you can buy, sell, place stop orders, work with orders, analyze the currency market, see your history, and so much more right on your iOS device. The immense functionality and rich features within make MetaTrader 5 an absolute must-have for brokers!
COOL CONCLUSION: Forex trading is as easy as pie with the graphs, charts, utilities and excellent analysis tools contained in MetaTrader 5.--Date/Version: Updated 7/23/12 - Version 5.0.674
--iOS/Age Rating: This app requires iOS 4.0 or later. Rated 4+.
--Video See VIDEO of Charting System of MetaTrader 5 iPhone
--Device: iPhone, iPod Touch, iPad
--Developer: MetaQuotes Software Corp.
--Facebook: MetaTrader 5
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