Modern smartphones are more than capable of allowing traders access to financial markets. As a result, many companies developed mobile trading platform apps, which enable trading and analysis on the go together with built-in account management. Beginner traders often start with smartphones and continue to trade on their mobile devices without the need to use their desktop and laptop devices. Most popular mobile trading apps are not broker-proprietary software and represent independent platforms purchased by brokers and provided to their clients. Let’s briefly review the top-notch mobile trading apps that rival desktop software in power and flexibility.
1. MetaTrader 5 Mobile (MT5)
Advanced mobile apps offer desktop-level performance tools. They enable traders to even implement complex strategies such as grid trading using plenty of different order types. The strategy is so popular that understanding what grid trading is allows on-the-go traders to set up semi-automated systems directly from their mobile devices.
MT5 mobile app not only provides plenty of order types, chart types, and timeframes, but also supports multi-asset trading. Traders can speculate on Forex pairs, commodities, stocks, cryptos, and indices directly from their smartphone. Using real-time quotes, one-click trading, and visual trade history, traders can always be in control of their trading strategies and performance.
MT5 also provides account management tools. Traders can both live and demo accounts. Charts are customizable, which is very comfortable for both beginners and seasoned traders.
2. NinjaTrader mobile app
NinjaTrader is another popular advanced trading platform. NinjaTrader was mainly designed for futures trading and support futures on index, financial, energy, metal, and cryptos. The platform also comes as a mobile trading app and offers an intuitive UI with new swipe gestures, refined interface, and quick-tap chart trading buttons. All these features make NinjaTrader very easy to use for order entries and modifications.
The platform just like MT5 allows for real-time trading and monitoring. Traders can quickly enter and exit positions. Unlike MT5 mobile app, NinjaTrader was mainly designed for futures and is not useful for multi-asset trading.
3. TradingView mobile app
TradingView is a legendary trading platform which was developed for web browsers and supports almost all asset types. The platform is super useful for chart analysis such as technical and fundamental analysis and offers a large indicator database. The one advantage of TradingView over other mobile apps is its support for custom indicators even on mobile apps, which makes it an extremely versatile platform. The downside is that it is not very comfortable for trading and is often used for analysis and portfolio tracking. The mobile TradingView app is almost on part with its desktop counterpart and has modern and easy-to-use design. The downside is that traders need to buy a subscription package to use more than 2 indicators on their charts and not many brokers support the TradingView platform.
4. cTrader mobile
cTrader is a modern and powerful advanced platform that allows users to employ desktop-class charting features on Android and iOS devices. There are the same chart types, plenty of indicators, and drawing tools as the desktop, which is similar to TradingView. cTrader is similar to MT5 in its capabilities and also supports automated trading and custom indicators. However, it also has its downsides like complex interface and is supported by fewer brokers.
The platform offers a multitude of order types and traders can quickly switch between live and demo accounts. There is also an order book feature which is useful for crypto and stock trading and the app has built-in calculators for position size and risk-reward calculation.
5. eSignal mobile app
eSignal app offers institutional-grade data such as streaming quotes, hot lists, news, charts, and detailed quote windows all within the one mobile app. It is optimized for tablet and smartphones and offers custom workspaces. Traders can save and recall multiple layouts such as watchlists, charts, and news with individual reference per window. eSignal also integrates with IB API and supports third-party charting add-ons, which can be useful to customize the platform depending on the trader’s needs.
