The iPad (a.k.a. the greatest invention since the internet) has just gotten more awesome! Well, at least to those who have GFT and Oanda accounts. Taking advantage of the latest technological developments, the two brokers have decided to delve even deeper into the mobile trading market by developing trading platforms specifically for the iPad. This means you no longer have to squint while you trade on your iPhone!
Just recently, GFT released the iPad version of its award-winning trading platform, DealBook. With its full-screen charting feature, traders are able to expand their views, easily access drawing tools, add up to 19 indicators, and set alarms.
Different order types (market, stop, limit, order-cancels-other-orders, and parent and contingent) are also easy to execute on the platform. But perhaps the most unique feature of the DealBook is that you can watch real-time news via CNBC TV streaming video. However, you may want to inquire about becoming a “qualified” client of GFT though, as the feature is not accessible to everyone.
One user who submitted a review to the iTunes App Store seemed pretty impressed with the application and said that GFT “hit a homerun” with it.
Meanwhile, Oanda, which already offers an arsenal of mobile trading platforms for the iPhone, Android, and Blackberry, also has an app designed specifically for the iPad.
The cool thing about Oanda’s “fxTrade for iPad” is that it’s free and available to both live and demo traders. Plus, you don’t need to open a new account to run it as it allows you to trade existing accounts.
It pretty much offers all of the basics. You get live charts across multiple time frames, you can set trade orders (buy/sell limit orders, take profits, stop losses, trailing stops), and you have access to live updates of your account details.
However, this app does have some limitations. For instance, fxTrade for iPad doesn’t support indicators and trend lines, which basically means you can’t do your chart art on the go.
Here’s what one user review from the iTunes App Store said about the app:
“As a stand alone app this isn’t for the pro trader but as a companion to the online platform it’s great…”
Keep in mind that these aren’t the only iPad-specific apps out there. I suggest you take some time looking through the App Store as there are plenty of apps in the market that offer all sorts of different features.
Overall, the mobility factor that these apps bring to the table is a big plus, but unless your tablet supports 3G, you’ll have to limit your on-the-go trading to areas with WiFi.
Still, it’s nice to see that brokers are going out of their way to provide better solutions for traders and that the forex industry is evolving alongside the tech industry. Finally, you can use your iPad for something other than playing Angry Birds!