Trading Forex From Your Phone

Trading Forex from a smartphone, or “mobile trading” has really taken off in the last few years.

And it’s easy to see why. Fitting Forex trading around a busy schedule isn’t always easy. 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.

Over the last three years more and more broker’s and charting providers have begun releasing software for mobile trading.

So now all you need in order to trade Forex is a smartphone or tablet, and a stable internet connection.

Best Smartphone OS for Trading

OS is short for operating system, it is the software that the phone uses to operate its core functions. The two most common ones are Android and iOs (iPhone’s OS), but there are others such as Windows 10 mobile and BlackBerry 10 which surprisingly still exist.

Right off the bat I am going to eliminate both Windows mobile and Blackberry.

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.

The dying market share of both these OS’s means Forex broker’s and charting providers do not support them. If you have one of those OS’s then it is time to get something new for trading.

So it all comes down to Android vs. iPhone.

In 2016 Android had a slight edge over iPhone, but 2017 saw iPhone catching up. Now in 2018, both operating systems are neck and neck so you can pick either of them.

However, as of Summer 2018, only iOS has a dedicated app for tradingview.com, one of the top charting providers in the industry. If you use TradingView, you might consider getting an iOs.

Don’t run out and buy an iPhone just yet though!

Tradingview can still be accessed on Android through your phone’s browser. 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.

It is fair to say that in 2018 both Android and iPhone are great OS’s for trading Forex.

Battery Life So You Can Keep on Trading

Battery life is another vital factor, you don’t want your battery to die mid trade.

As you can see in the chart below, over the last five years battery life has been increasing at a surprising rate.

Average Smartphone Battery Life

In 2018 the average battery life of smartphones has gone up to over 11 hours of charge. This time is based on web browsing which uses about as much resources as mobile trading.

Anything above 11 hours should be enough for trading, but some phones are able to go for much longer.

Personally I prefer at least 12-13 hours of battery life, especially if I am trading whilst abroad.

Don’t be fooled by battery sizes – a bigger battery does not mean longer battery life!

For example, the iPhone 8+ has a smaller battery than the Note 8 from Samsung but the iPhone 8+ lasts 5 minutes longer at 11h 16m vs. 11h 11m.

So now that you know what to look for in a smartphone, I will share my top picks for 2018!

1 The Galaxy Note S9 Plus

My personal pick for the best smartphone for Forex trading is without a doubt the Galaxy Note S9 Plus.

With a battery life of 17 hours and a 6.2 inch screen size, trading from this phone is a dream. The battery life on this phone means that you can reliably trade for almost an entire day, something that not a lot of phones can boast.

I do not think anything can beat the Galaxy Note S9 Plus for trading.

What if you are an iPhone person though?

2 The iPhone X

The iPhone X has a battery life of around 11 hours and a screen size of 5.8 inches. Not as much power as the Samsung’s flagship phone, the iPhone X still stands strong as the best option for iOS users. Improvements from previous models of iPhone have resulted in a great trading experience that also gives you access to the TradingView app.

There is one major issue some of you will face with the Note S9 Plus and the iPhone X – they are both very expensive. So, what budget friendly choices do you have?

3 Moto G6

For the super budget conscious, the Moto G6 stands as one of the best choices in the 2018 market. With a 5.7 inch screen size and a respectable 13-14 hour battery life, you will get a lot for your money with the Moto G6.

Whilst the phone may not have the best camera or feel like a flagship phone, it offers everything you need from a smartphone making it one of the best budget phones on today’s market.

Want more options?

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.

Tablets, Laptops, & Notebooks – What’s The Difference?

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.

Over recent years the distinction between these three devices has become blurred.

Now you can get tablets with removable keyboards, these are called 2 in 1’s. 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. A portable tablet combined with the functionality of a keyboard make 2 in 1’s the ultimate device for a trader on the move.

All the tablets I discuss below are 2 in 1’s, but I will be referring to them as tablets.

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.

The Best Windows 10 Tablets For Trading

1 Microsoft Surface GO

With the huge price tag on the Surface Pro, this new 2 in 1 tablet by Microsoft takes the cake for their best tablet to date. Packaged as a smaller version of the Pro, the Surface GO is at a much more affordable price and doesn’t lose out on much. You will be getting 64GB of memory and 4 GB RAM. You can also choose the larger option of 128GB of memory and 8GB RAM at a slightly higher price point.

The detachable keyboard is still part of the Surface GO, but you will have to separately buy the stylus. The display of the Surface GO has received incredibly good reviews on its quality but the size is slightly smaller at 10 inches. The battery life is very good and the laptop is perfect whenever you are on the go, weighing in at just 1.15 pounds. You will have to buy the accessories to

At such a low price, this tablet has taken the top spot over the ACER Switch 5. The power of the tablet is not immense, but if you are using this to trade and watch Netflix there is more than enough power.

Microsoft has finally brought out an affordable tablet that has raised the quality for future 2 in 1 tablets.

2 Acer Switch 5 2-In-1 (SW512-52)

Acer knocked the Microsoft Surface Pro off of the top of the list in 2017 with its new Switch 5. However, with Microsoft’s response in the Surface GO, the Switch 5 has now been dethroned from the top. That said, the Switch 5 still offers a great tablet experience that is still superior to the Surface Pro.

The Switch 5 comes with a detachable keyboard, an i5 processor, and 8GB of ram.

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.

3 Microsoft Surface Pro

The Surface Pro is Microsoft’s follow up to their Surface Pro 4. 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.

The cheapest of the range starts at $799 USD (£799 GBP no, this is not a mistake) and it uses the Intel m3 processor. While the m3 processor is powerful enough for mobile trading, it is not suited to resource intensive tasks like backtesting software.

The next step up is the Intel i5 4GB version which is $999 USD (£979 GBP) which is better suited to mobile trading and backtesting software.

The detachable keyboard is not included with the Surface Pro, and it will cost you extra. This added cost makes the Surface Pro is by far the most expensive tablet on this list.

The Surface Pro is a solid choice for a premium trading tablet, but it’s price tag really isn’t justifiable. 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.

4 Lenovo Miix 700

The Miix 700 is Lenovo’s answer to the Surface Pro, and Lenovo is continuing it’s theme of giving you more for your money than Microsoft.

The Miix gives you an Intel m5 processor at the same price as Microsoft’s Surface Pro with the m3 . Unlike the m3 processor, the m5 provides you with more than enough power to trade and backtest with.

The downside of the Miix is it’s battery life. Most tests put it in the 9-10 hour range for browsing, which is 1-2 hours behind the Surface Pro and 2-3 behind the Acer.

The Lenovo Miix might lag behind the Switch and the Surface Pro, but with its lower price and Lenovo’s solid reputation for quality computers, it might be right for you.

5 Lenovo Miix 320

If you are on a tight budget the Miix 300 from Lenovo is for you. The Miix 320 comes with a detachable keyboard, the x5-Z8350 processor, and 4GB of ram.

You shouldn’t expect to be running backtesting software efficiently on the 320, but for trading and other non intensive tasks it is more than sufficient.

The battery life is impressive for a budget option at around 10 hours of browsing time.

Conclusion

Following the release of the Surface GO, the Surface Pro has become obsolete in many areas. The high cost coupled with the similar performance means that the Surface GO and the Switch 5 are undoubtedly the best options when looking for a tablet to trade Forex on.

If you are on a budget the Lenovo Miix 320 gives you everything you need and it has the best battery life for tablets in its range. However, you may want to wait until closer to the end of 2019. There are a few tablets coming out that look to be very promising both with price and capability.

When I first wrote this article in 2015 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.

How to Choose a Mobile Platform

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.

The truth is, using your broker’s platform is almost always the easiest and best option. 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.

Now, you might be thinking “what about Trade Interceptor!” which was known as one of the best mobile trading apps, if not the best. Well they were purchased by the broker ThinkMarkets, so they no longer connect to any other broker’s.

cTrader has always been a great option but very few broker’s support cTrader so it’s not widely used.

TradingView is consistently getting better on desktops and tablets but aside from their new iPhone app (where is the Android app guys?), they have made no effort to optimise for mobile.

This is why I recommend using whatever platform your broker provides.

Hopefully in the next update I will have some exciting mobile trading platforms to share though.

Disclaimer: all links in this article are amazon affiliate links. This means I get a small commission (at no extra cost to you!) if you make a purchase through my links.