- Trade on Tifia MT4 and MT5 Mobile Apps
- Forex Trading isn’t only for PC anymore
- What are the merits of using Mobile Apps?
- Disadvantages of Forex Mobile Trading
- How to choose the Best Mobile Apps?
Trade on Tifia MT4 and MT5 Mobile Apps
Tifia, an online Forex and CFD offers trading platforms for any types of devices.
Tifia’s main trading platforms are MT4 (MetaTrader4) and MT5 (MetaTrader5), and both are available as mobiles apps.
The mobile apps of Tifia MT4 and MT5 can be downloaded for free on Android, Tablet, iPhone and also iPad.
Just like the desktop version of MT4 and MT5 trading platforms, these mobile apps feature various order types, chart types, full account management, and position management.
BY downloading Tifia MT4 and MT5 mobile apps, you can monitor the markets anytime and anywhere, and you won’t miss trading opportunities even when you are on-the-go.
Both Tifia MT4 and MT5 trading platforms are free to download.
Open Tifia’s Real Trading Account, download the mobile apps and log in to access to the financial markets on your phone.
Forex Trading isn’t only for PC anymore
Many people have the image that FX is traded on a personal computer.
Certainly, until a while ago, it was said that there were many things that could not be done compared to a personal computer when using only a smartphone for FX compared to a personal computer.
However, nowadays, the smartphone itself and the apps provided by Forex companies have evolved, and it is now possible to make transactions only with the smartphone without inferior to PCs.
In this article, we will introduce the advantages and points to note when using Forex trading on smartphones, as well as the 3 points that should be noted when choosing an app and an app with excellent functionality.
The smartphone apps of FX companies are evolving steadily, so there are many “usable” apps.
And the mobile apps of Tifia MT4 and MT5 are certainly 2 of the most popular choices by online traders.
What are the merits of using Mobile Apps?
There are still many people who have the image that “FX is something done on a PC.”
One might imagine a room of a full-scale FX trader with many monitor screens lined up, but that is an extreme example.
Many people probably have a smartphone even without a computer, and you can trade FX only with a smartphone.
Therefore, here we will introduce the three advantages that can be obtained by doing Forex trading on a smartphone.
1. You can easily trade Forex
If you use a smartphone, you can almost do the operations necessary for FX trading with the intuitive operation of the touch panel.
For example, chart analysis is essential for FX trading.
Enlarging the part you want to see with two fingers is a common operation on smartphones, but the smartphone app can also enlarge or reduce the part you want to see on the chart with two fingers.
When you actually try this, you can feel the high funcationality.
Tifia MT4 and MT5 mobile apps are also updated periodically by the developer, MetaQuotes to improve the user interface continuously.
2. You can trade anytime and anywhere
PCs are about B5 size, no matter how small they are.
On the other hand, if you make it smaller than this, you lose the advantage of the personal computer, so the feeling of size is fundamentally different from the smartphone.
Even if you put your smartphone in your pocket or bag, it will not get in the way at all, so you can do FX trading without being restricted by time or place.
The fact that the market price is moving 24 hours a day is one of the advantages of FX, so if you are with a smartphone, you can make the most of that advantage.
If you are a train commuter and are returning to the office just in that time zone, you can use this time zone for trading by utilizing the smartphone application.
It is also the same for Tifia’s MT4 and MT5 mobile apps, as they require only internet connection to be used on your phone.
3. Follow the Fundamentals and Trend at all times
The smartphone apps provided by many Forex companies have a push notification function.
This is a function that alerts you when important economic indicators are announced or when a market price reaches a preset rate.
The representative index of important indicators is the employment statistics released on the first Friday of every month in US time.
If you do not want to miss a trade opportunity with this important indicator, it is convenient to set the push notification function.
In addition, it is not uncommon for the market price to move with the announcement of economic indicators.
Being able to perform such flexible information gathering and trading is also an advantage that can be obtained by doing FX with a smartphone application.
On Tifia’s MT4 and MT5 mobile apps, you can directly refer to the economic calendar which shows the upcoming important market events and news, and more details about each event.
Disadvantages of Forex Mobile Trading
When it comes to disadvantage of mobile apps, there are three main points that can be considered, but all can be said that problems can be solved in certain ways.
1. Mobile apps consumes large data
In the case of smartphones, many people have contracts with plans that change the cost depending on the amount of data communication.
Therefore, it is necessary to be aware of the data communication volume that occurs due to FX trading.
If it is a standard price plan, the data communication amount may not be too noticeable, but in order to further suppress this, you may want to take measures such as closing the application frequently and using Wi-Fi as much as you can.
However, since FX actually moves assets, using free Wi-Fi provided in public spaces or cafes is not recommended for security reasons.
Even if the monthly data communication amount is exceeded and the bandwidth is limited, FX trading does not perform so much data communication, so updating the chart and trading itself will not cause much trouble.
2. Risk of operation error due to small screens
Simple and intuitive functionality is an advantage common to many smartphone apps.
However, the flip side of this advantage is the risk of making operational mistakes due to its small scale.
Since the screen is small, there is a possibility that you will tap the next button instead of the place you originally wanted to tap.
These may seem fatal risks, but of course the smartphone app providers are fully aware of this, so there are some smartphone apps that are designed to prevent operation mistakes such as the order lock function.
As you will become accustomed to the functionality while using the same smartphone application many times, it will gradually become less likely to cause human error such as making a mistake in tapping place.
Before you can trade with real money, you have to get used to the tools on your smartphone and computer.
Some full-fledged traders have created an environment where many monitors are displayed at the same time, but smartphone apps are not suitable for displaying multiple charts on multiple screens simultaneously.
However, only a handful of FX experts are demanding the environment up to this point.
If you are doing general FX trading, you will rarely check many chart screens at the same time, and most of them will not use even if you have such a detailed chart analysis function.
If you can’t just supplement your environment with a smartphone, you can also use a tablet device with a slightly larger screen.
How to choose the Best Mobile Apps?
As you can see, it is possible to do FX only with a smartphone, and there are advantages unique to smartphones.
If you think that you should do it, the next thing to worry about is the comparative examination of which smartphone app you should choose among the smartphone apps that companies are competing and developing.
In order to take advantage of smartphone apps, you should check the following three points.
1. Is your model compatible?
Smartphone apps are roughly divided into Android version and iPhone (iOS) version.
Most smartphone apps are provided with two types to fit both, but check the operating environment just in case.
Tifia’s MT4 and MT5 mobile apps can be downloaded for both Android and iOS devices including Android, Tablet, iPhone and iPad.
2. Are the charts and tools suited for you?
Since technical analysis using charts has a lot to do with FX performance, it is essential to have easy-to-read charts and easy-to-use editing functions, etc. in order to perform FX trading only with a smartphone.
As each company’s smartphone app is designed not only to browse the chart but also to customize it for your own use, check if the chart is easy to see and use including this function.
However, not all are good if it is multi-functional, for example, there are many types of indicators that can be used.
Smartphone apps are important trading tools for investors.
It is very important that “it suits you” and “easy to use”, so let’s check the usability instead of just comparing the specifications.
Tifia’s MT4 and MT5 mobile apps feature all the basic chart types and trading tools built-in for free.
3. Is it possible to check news and economic index schedules?
The Forex market, which is constantly moving 24 hours a day due to the time difference, is filled with news.
There are many things that are closely related to the currency pair you are trading and are linked to the trigger of buying and selling, so you may want to take advantage of the smartphone app’s tools of being able to check the news in real time.
Is it a good information gathering function, whether there is a function such as push notification that you can know important news without missing it.
It may be said that this is an important point when choosing a smartphone app.
Tifia’s MT4 and MT5 mobile apps have the economic calendar built-in which keeps you updated of the important market news and events in real time.
4. Is Demo account with virtual money available?
As explained so far, it is very important not only to compare the officially announced functional aspects and specifications of the smartphone app, but also to feel how it actually works.
Demo trading account is the best way to know how to use it, so one of the methods is to try a demo trade as part of choosing a smartphone app.
There are Forex companies that can do demo trading with virtual funds in the same environment as real trading, so utilize these services and find a smartphone app that suits you.
You can open demo trading accounts with virtual money for both Tifia MT4 and MT5.