I was browsing the BabyPips.com forums a while back and I remember seeing a discussion on the best phone for forex trading on the go. Many makes and models were brought up, but it seems like the iPhone was most mentioned.
The general consensus was that the iPhone was preferred because it has a clear and wide screen, and that many forex brokers tend to be iPhone-friendly. Now, it appears that traders have another reason to choose the iPhone. (No, I wasn’t paid by Apple to promote their product… I wish I was though. Hah!)
MetaQuotes, the makers of the ever-so-popular trading platform MetaTrader 4 (MT4), just announced that MT4 for the iPhone is in development. Pretty soon, Apple fanboys will be able to trade their favorite trading software on their iPhones, iPads, and even iPod Touches!
Actually, MT4 has been available on the iPhone for a while now thanks to third party developers. But wouldn’t it be great to have an official MT4 app? Well, many traders will be glad to know that due to incessant demand, MetaQuotes has been pressured to make its own mobile MT4 application. In addition to trade execution, the product will feature charting and technical analysis tools.
I think this is a step in the right direction since MetaQuotes already released MT5 for the iPhone and Android phones earlier this year. The MT5 mobile app has a lot of features including: 14 technical indicators, the ability to run 10 indicators simultaneously, and real-time price feeds. The best thing about it is that you can download it for free!
Though MetaQuotes hasn’t released further details about the upcoming MT4 app for the iPhone, I’m guessing it will have many similarities with the MT5 version. I suppose it’s reasonable to expect MetaQuotes to develop MT4 for Android operating systems sometime in the near future as well, seeing as they did so with MT5.
From a market share standpoint, it makes a lot of sense. After all, about 43% of smartphone users use Android operating systems, according to a recent Nielsen study.
Though nothing can truly replace the ease of trading off a personal computer, having a trading platform on your phone is very important for those who are always on the go.
With apps like MT4 for the iPhone, you’ll no longer be tethered to your computers. The future is here, my friends! Soon, you’ll be able to watch the markets and monitor your trades every waking moment… or at least until your iPhone battery dies!