- Trade FX on mobile phones
- 3 advantages of trading FX on mobile apps
- 2 disadvantages of trading FX on mobile apps
- Open a demo trading account to see the usability
- How to start FX trading on your smartphone?
Trade FX on mobile phones
When you hear FX, you might think of the image of trading using the mouse and keyboard while gazing at multiple displays.
Recently, trading tools have become easier to use, and you can do FX trading on your smartphone.
We would like to introduce how to start FX trading on smartphones and its advantages and disadvantages.
With the recent spread of smartphones and the development of FX apps for smartphones, the number of traders trading on smartphones has extremely increased.
Even when trading mainly on PC, the number of traders using smartphones as a sub tool is increasing, and smartphones are becoming an indispensable tool for FX traders.
LMFX isn’t exception, and LMFX MT4 can be downloaded for almost any popular mobile phones such as Android, Tablet, iPhone and iPad.
You can download LMFX Mt4 mobile apps from LMFX Official Website.
To use mobile apps of LMFX MT4, you only need to log in with the account credentials.
3 advantages of trading FX on mobile apps
Many people may be wondering, how you can trade FX with your smartphone.
Certainly, FX trading done on a PC allows you to view charts and display various technologies on a large screen, but there are advantages unique to smartphone FX too.
There are 3 advantages to trade FX mobile phones.
1. You can trade anytime and anywhere
The advantage of smartphone FX is that you can trade anywhere anytime.
Unlike a heavy PC, you can take it with you anywhere on your smartphone, and you can launch an application quickly and trade smoothly.
With a smartphone and FX app on the go, you’ll never miss a trading opportunity.
Even if you are mainly trading on a PC, you can use the smartphone as a sub tool for more convenient trading.
For example, the smartphone app is perfect for monitoring positions.
If you had to go out suddenly when you have your PC on, if you have a smartphone, you can still continue to check the market in your free time.
If you see the movement you want, you can increase the profit as it is, and if the market changes suddenly, you can respond immediately.
Make sure you have already downloaded LMFX MT4 mobile app to your phone, so you are ready to trade FX anytime and anywhere.
2. Launching mobiles apps in seconds
The start-up time is almost zero for mobile apps.
If you are trading on a PC, it will be difficult to respond when the market moves suddenly due to news etc.
Depending on the model, it may take about 1 minute just to start the PC and display the chart, and during that time, the chart may move more and more.
On that point, it takes about a few seconds to start up mobile apps with a smartphone.
And if you leave the app running, you can start trading immediately.
LMFX MT4 mobile app won’t even take a second to launch on standard smart phones.
3. Functionally similar to PC version
The current smartphone apps are being pursued for functionality that is comparable to PCs.
Although it has a weakness that the screen is small, it can be said that the functions required by traders are almost satisfied, such as displaying various technical indicators, drawing a line on the chart, and making quick trades with one tap.
LMFX MT4 mobile app is also updated automatically and new tools are added often.
2 disadvantages of trading FX on mobile apps
We have introduced the advantages of trading FX on smartphone, but of course there are disadvantages of trading FX on smartphone too.
Before start trading, make sure you also know the disadvantages to ensure a smooth transaction.
The main disadvantages are the following 2.
1. Chart screen is small and limited
When you see the chart on your smartphone, you will inevitably see the chart on a screen smaller than your PC.
On mobile apps, the limited number of time bars can be displayed and the number of lines that can be drawn are limited, making it difficult to analyze complicated charts.
Recently, it has been improved steadily such that the screen can be divided into four and lines can be drawn easily, but if you want to analyze in detail, PC is preferable.
To use LMFX MT4 trading platforms on PC, you may download them from LMFX Official Website.
2. Number of trading tools is limited
Although it depends on the FX broker, it is often the case that only basic items such as moving averages and Bollinger bands are installed in the smartphone application, and if you are using a slightly unusual technique, the tool you prefer may not be installed in the smartphone application.
If you want to use a large number of indicators anyway, chart analysis on a PC is preferable.
While FX trading on smartphones have the advantages described above, there are of course disadvantages as well.
However, it is certain that the accuracy of trading will be further improved by combining trading on a PC or using it as a sub tool.
Open a demo trading account to see the usability
Before opening an account, we recommend that you first try a demo account and check whether it has a smartphone application that suits you.
Recently, many online FX brokers have released smartphone apps that can be used for demo trading in almost the same conditions as actual trading.
By using a demo account, you can check the details such as whether you can use the technical technique you use everyday and whether there are restrictions on parameters.
Before applying for an account, be sure to confirm the usability of the application with a demo account.
With LMFX, you can open a Demo Forex trading account for free and download MT4 mobile apps for free.
How to start FX trading on your smartphone?
Now, let’s us introduce how to start trading Forex on a smartphone.
1. What you need to start FX on your smartphone?
To start FX on your smartphone, all you need to do is open an account.
Opening an account tends to have a difficult impression, but LMFX will open an account on the same day if you fill out the necessary items and send the identification document as an attachment.
After opening an account, you can make a transaction by making a deposit and downloading the mobile app.
For the list of available fund deposit and withdrawal methods for LMFX MT4 accounts, visit the page here.
LMFX also has some bonus promotions that you can benefit from.
For the list of all bonus promotions of LMFX, visit the page here.
2. Preparations required to open an account
The most important thing to do when opening an account is to check whether the service of your broker suits your trading style.
You may want to check out points such as the followings:
- Whether the technical you want to use for trading is available.
- Where the spread is suitable for scalping or day trading when focusing on short time trading.
- Whether the swap points are high when mainly focusing on long-term trading.
It is recommended that you research in advance what will be the important points in your trading style before deciding on a Forex company, and the account type.
Once you have decided on an FX company that will open an account, prepare the documents necessary for opening an account.
To provide flexible trading solution, LMFX provides multiple trading accounts types with different trading conditions.