I will send you a ebook version that you can read offline whenever you want. Just let me know what email to send it to. Yes, give me the ebook! Between work, family, and your social life, finding time to trade can be a challenge.
But trading Forex from your smartphone allows you to trade around a busy schedule. So now all you need in order to trade Forex is a smartphone or tablet, and a stable internet connection. They find it difficult to imagine professional traders using their smartphones for all of their trading.
While having the larger screen of a laptop or computer is handy for certain tasks, it is not a requirement. My Forex trading strategy can be traded entirely from a smartphone or tablet. So far in I have taken even more trades from my smartphone. However, since support for mobile trading has grown rapidly. So more and more smartphones are starting to be supported.
OS is short for operating system, it is the software that the phone uses to operate its core functions. This is not to say that there are no trading platforms on Windows and Blackberry, but the choices are limited, and trading from these devices is not easy.
In Android had a slight edge over iPhone, but as of iPhone has caught up. Both operating systems are neck and neck, so you can pick either of them. However, as of October , only iOs has a dedicated app for tradingview.
If you use TradingView, you might consider getting an iOs. While having a dedicated app is a nice bonus, it is not essential. I am using TradingView on an Android smartphone daily and I am more than happy with it.
You do not need a top of the line smartphone for trading. When it comes to specs, even low end modern smartphones are more than powerful enough for mobile trading. While you can trade on a smartphone with a tiny screen, it is tedious, and you are more likely to make mistakes.
A large screen allows you to trade much more comfortably, which helps during stressful trades. I recommend a 5. I have thoroughly tested several screen sizes and I have found anything under 5. If you have tiny fingers you might be able to trade comfortably with a smaller screen, but I do not recommend it. If your screen is too small to trade from comfortably, there is a good chance you will make more mistakes.
And in trading, mistakes can cost you a lot of money. As you can see in the chart below, over the last five years battery life has been increasing at a surprising rate. In the average battery life of smartphones has gone up to 9 hours and 40 minutes.
This time is based on web browsing which uses about as much resources as mobile trading. Anything above the 9 hour and 40 minute average should be enough for trading, but the higher the better. With a battery life of 11 hours and 11 minutes, and a 6. Not to mention the phone has a stylus which allows you to easily take notes on your trades for proper trade journaling. Well as of writing this article the iPhone X is not out yet.
However, the information I have seen already suggests the battery life might be as much as 12 hours. Couple this with its impressive 5. There is one major issue some of you will face with the Note 8 and the iPhone X — they are both very expensive. So, what budget friendly choices do you have? For the super budget conscious, the Asus ZenFone 3 Zoom with a 5. While this phone is lacking in the power department, it is more than powerful enough for trading.
My partner is also a trader and she is not a fan of flashy phones. She uses the Oneplus 5 and loves it — I have tested it myself and found it great for trading too! The OnePlus 5 is also a budget phone, although it is slightly pricier than the ZenFone 3. However, unlike the ZenFone, the OnePlus 5 is not lacking in the power department. The phone is powerful, looks awesome, and it has an amazing camera. If you want a screen bigger than the standard 5. While the Huawei is not a cheap phone, when compared to phones of a similar size like the S8 Plus, and the iPhone X, it is certainly the biggest screen you can get on a budget.
If you want to take a look at some other smartphones suitable for trading, below is a small table showing current popular smartphones, it shows their screen sizes and battery life. Expensive tablets and notebooks are made for graphic designers and engineers using resource intensive software. Trading is not resource intensive at all, but backtesting software like Forex Tester 3 is moderately intensive. I am going to show you several tablets that are suitable for both trading and backtesting.
And I will also show you some trading only tablets. Traditionally a tablet is a device with a touchscreen and no keyboard, and a laptop is a computer packed into a small package with an inbuilt keyboard. Notebooks started as very compact and slim versions of laptops with built in keyboards. They were generally heavier than a tablet, but lighter than a laptop.
A 2 in 1 acts as both a slim lightweight tablet, and a powerful notebook when the keyboard is attached. For trading, 2 in 1 tablets are best. While these are great for smartphones, a good tablet needs and OS with more functionality. Now, this will annoy a lot of Apple fans out there, but Windows 10 desktop is hands down the best OS for trading. You can get some platforms on Mac, but it does not come close to the trading software available on Windows.
Some of the most popular trading platforms in Forex are not available on Mac, or are very poorly supported. One example of this is MetaTrader 5, which requires extra software that allows the use of Windows applications on Mac.
There are workarounds such as Parallels, a software which allows you to run Windows applications on Mac. However, these workaround can be unstable on lower powered devices such as the entry level Macbook. The choices I have made below are my personal picks.
The reality is there are hundreds of tablets available these days, and dozens of new choices being released each month. It is impossible for me to test and keep track of every tablet that hits the market.
I am a trader first and a tech enthusiast second. Acer has knocked the Microsoft Surface Pro off of the top of the list with its new Switch 5. Where the Switch 5 really shines is battery life. The Switch has outperformed the Surface Pro in battery life tests with over 13 hours web browsing time.
While it should technically be called the Surface Pro 5, for some reason Microsoft decided to drop the numbering with this latest release. The battery life depends on which model you choose but all models have extremely good battery life of 11 hours or more. While the m3 processor is powerful enough for mobile trading, it is not suited to resource intensive tasks like backtesting software. You can save yourself money and get the superior Acer Switch 5 which is sold with the keyboard, and 8GB of ram instead of 4GB.
Unlike the m3 processor, the m5 provides you with more than enough power to trade and backtest with. Most tests put it in the hour range for browsing, which is hours behind the Surface Pro and behind the Acer. If you are on a tight budget the Miix from Lenovo is for you. When you factor in all the costs, the Surface Pro gives you less power at a higher cost. Visually the Surface Pro is stunning and it might appeal to you more than the Switch 5.
However, from a purely logical standpoint, the Switch 5 is the superior tablet for mobile trading. If you are on a budget the Lenovo Miix gives you everything you need and it has the best battery life for tablets in its range.
While iOs is fine for trading from your smartphone, a good trading tablet should be able to do so much more than your smartphone.
If the only functionality you need for your trading is chart and trading platform access, the iPad might suit your needs.
But be warned — if you need something more, it will fall short. While both of these devices look stunning and have impressive hardware, they do not come with a detachable keyboard so I struggle to consider them true mobile trading devices.
This might change in , and I will certainly update this article if it does. When I first wrote this article in there were few good options to choose from for mobile trading platforms. These days things have changed and we are drowning in mobile platforms. There are still some standout platforms, but in many cases they might not be worth using.
More likely than not your broker already offers a mobile trading platform. Depending on your broker this will be their own proprietary platform, or they will probably offer you options like MT4, MT5, or cTrader. Trying to connect to your broker through other platforms can be tedious and unreliable.
So when it comes to recommending the best mobile trading platform, the answer is often to just use what your broker provides.
TradingView is consistently getting better on desktops and tablets but aside from their new iPhone app where is the Android app guys? Contents Chapter 1 Mobile Trading Basics.
Chapter 2 Smartphone Specs.More...