October 8, 2013 by Hugh Kimura

Ever since I first saw the iPhone I knew that I would have one, sooner or later.  I did not end up getting one until the iPhone 3 and I currently have a 4S.  Im actually really happy with this phone, but it is starting to show signs of slowing down.  Im not in a big rush to get a 5S though.  I might, but I think I can hold out for the 6S, which is what I think they will call the iPhone after the 5S.

Anyway, the bottom line is that I am really happy with my phone and I have tried out a lot of Forex trading apps over the years.  Here are the top 5 that I recommend for traders.

5.  Bloomberg

I had a bunch of news apps on my phone before, such as CNBC and a few others that I dont remember, but this is the only one that stuck.  I like that it is easy to read and easy to use.  I might find something better in the future, but Im not a huge news junkie, so just the basics from a reputable company is good enough for me.

4.  Kindle

Whenever I have some free time, I like to read as much as I can on my Kindle.  The last really good trading book that I read (and am still re-reading) is The PlayBook. by Mike Bellafiore.  It is what inspired me to make more use of Evernote and do a better job of not only documenting my trades, but writing down possible setups that I have seen, which could be used to create new trading systems.  If you have a chance to get it, I highly recommend it.

Anyway, I love the Kindle app because even though the iPhone screen is pretty small, the text sizes accordingly, so it is still easy to read.  My sister mentioned to me that she used to think that reading a book on your phone was probably pretty tough, but she read a Kindle book on a flight recently and she really liked it.

The Apple iBooks app is not bad, but it doesnt have nearly the same number of titles that Kindle has.  However, it does make it easy to upload your PDFs, but they are a little hard to read.

3.  Evernote

This is what I use to review my trades and write down notes that I think of during the course of the day.  I really helps to have all of your notes in one place.

I still carry my notebook to write down ideas that I have throughout the day, but putting it in Evernote makes it really easy to organize and find later.  When I am traveling, I can review my trades and see where I can improve.

2.  Oanda fxTrade

Oanda is always a little behind the curve when it comes to technology.  They were late to the game to implement trailing stops and their iPad app did not work for me for the longest time.

Thankfully their iPhone app has always been solid.  I have some issues with the user interface and the charting is completely useless, but the bottom line is that it works every time and it executes trades like it should.  It is very reliable in that respect.  The reality is that other brokers probably arent much better on the interface and the charting.

So in spite of my gripes with the app, I still like Oanda as a broker, their apps work great for order execution and will continue to trade with them.  But to me, there is only one app for charting

1.  TradeInterceptor

The first time that I saw this app, I was blown away by how easy they made it to do things that would otherwise be cake on a desktop, but nobody had quite figured out on a mobile device yet.  Things like measuring candles/pips, adding indicators that were actually usable, getting a crosshair that stayed put, automatic chart scaling, a magnifying glass to zoom in on hard to see parts of the chart, and more!  In case you missed the review video, here it is:

Conclusion

You are probably wondering where the Metatrader app is.  I did a review on the Metatrader 5 app awhile back and I was pretty disappointed.  Their charting is not even close to what TradeInterceptor can do and the only real reason to use the Metatrader 4 app is because you can send alerts from your desktop directly to the app on your phone.  From my limited testing, the connection seems much more reliable than the text message method .  However, you do have to have your indicators setup to send MT alerts, or it doesnt seem to work.

But if you are for some trading apps for your iPhone, this is where I recommend you start.  Im not saying that this is these are the only apps out there, but they are the best I have found.

What are our favorite apps?  Do you have anything to add to the list?  Let us know in the comments below.

Disclaimer:  There are links on this page where I do get a small commission for recommending the product, but I do believe in it and the proceeds go to support this blog and a portion gets donated to my charity partner .