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Forex Industry
by ForexNewsNow Team on April 17th, 2012

MetaTrader 4 and 5 Android and iPhone Apps Reviewed

ForexNewsNow – The MetaTrader 4 and 5 software platforms have been for a long time already the top choices for most of the serious forex brokers on the market. This is because these platforms are stable, reliable and extremely easy to use. Now, these platforms are also available in their mobile variant for the iPhone and Android- based devices.

The fact they are available also in a mobile version allows traders to be able to receive quotes, trade and make money wherever they are. Be it on the bus, in the subway, or in a remote area with no computer, the only thing a trader needs is a smartphone with internet access.

MetaTrader 4 Mobile apps

The Meta Trader 4 software platform is one of the most used electronic trading platforms. A large percentage of forex brokers on the market use this platform due to its efficient usability, navigation and reliability. Recently MetaQuotes, the company that developed MetaTrader, also developed a mobile MetaTrader 4 app for iPhone and Android devices.

The mobile variant of the MetaTrader 4 platform was actually released after the launch of the MetaTrader 5 mobile platform. The mobile platform contains all of the features available in the PC version, meaning that users will not have a hard time adapting themselves. If a trader is already used to the PC version of MetaTrader 4, then using the mobile version of the software will be extremely easy.

Meta Trader 4 iPhone App

At this moment the MetaTrader 4 mobile platform for iPhone gives traders access to more than 350 iPhone forex brokers on the market. It actually interfaces with more brokers than the MetaTrader 5 app simply because more brokers offer MT4 than MT5 since the former has been around for longer. Like the PC variant, the MT4 iPhone app offers features such as real-time quotes, detailed charts, full trading history, and others.

The navigation of the MetaTrader 4 app is extremely easy, probably even easier than its PC counterpart. At first, users will be asked to log into their accounts. Traders can search through the available servers to locate their existing accounts with forex brokers or create a new forex trading account using the app. After logging in, an interface will appear on the screen presenting various quotes. Users will be given the choice to either start trading or evaluate the historical charts associated with every quote and trading option.

MetaTrader 4 Android App

The MetaTrader 4 software platform is also available for Android-based devices. The functionality of the platform is essentially the same as in the case of the iPhone app, but it has some minor visual differences.

One of the biggest differences lies in the field of navigation. The navigational menus and buttons in case of the Android app are somewhat different from the iPhone app, but they function identically. Apart from this, everything is the same in both cases. Users will have access to several hundred Android forex brokers.

MetaTrader 5 Mobile Platform

MetaTrader 5 was released with the purpose of replacing MetaTrader 4, but so far the majority of the forex brokers on the market still use MetaTrader 4. Still, a lot of brokers have already switched to the new version and it was evident that sooner or later a mobile version of the platform would also be launched.

The MetaTrader 5 mobile app was released after the MetaTrader 4 app. It essentially offers the same features as the MetaTrader 4 platform, but it allows traders to access brokers that have already switched to the MetaTrader 5 software variant.

MetaTrader 5 iPhone App

The MetaTrader 5 iPhone app can be downloaded free of charge. It functions the same way as the MetaTrader 4 mobile software variant but it has a number of changes that are clearly noticeable by users. One of the changes lies in the visual aspect of the app. While essentially both look almost identical, the MetaTrader 5 platform has better defined buttons, graphs and visual elements.

MetaTrader 5 Android App

The visual aspect and navigation of the MetaTrader 5 Android app is almost identical to the MetaTrader 4 App. The core differences are the additional trading possibilities and increased stability that is offered by the MetaTrader 5 software platform.

The usability of the Android app is the same as in the case of the MetaTrader iPhone app, with the exception that the available buttons are placed on top of the screen instead of the bottom. The Android app can also be downloaded free of charge.

Mobile Forex Brokers

A very large percentage of mobile forex brokers at this moment use the MetaTrader mobile software platform. The majority of the iPhone forex brokers and Android forex brokers still use the MetaTrader 4 version, but this doesn’t means that the MetaTrader 5 variant is not popular.

Both versions are very stable, secure and offer traders easy navigation and accessibility. The apps give access to more than 350 online forex brokers most of them being some the top names in the industry.

Use the Metatrader 4 mobile app with FXClub

Use the Metatrader 5 mobile app with NordFX

By ForexNewsNow Team

This is a general account of the ForexNewsNow Team. It is used to published exclusive content carefully crafted by our experts as well as it is used to bring you the most recent industry highlights from our guest contributors that wish to remain anonymous.

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