Smartphone Forex Trading; Top 5 Mobile Phones to Use

Forex trading has evolved from trade executions on desktops to considering smartphones due to their convenience. With a stable internet connection, you can exchange currencies at any place and any time. Algorithmic trading (automated trading) is one of the strongest features of a mt4 robot and could be something that could improve your trading.

As new traders join the market, mobile phone usage keeps increasing, and currently, forex traded on mobile phone accounts for 40% of all trades. To get the most out of forex trading on a phone, you need to have a good smartphone. Here are the top five smartphones for forex trading in 2020.

OnePlus 7 Pro

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One Plus is famous for having two launches every year where they introduce technologically advanced devices at affordable prices. The OnePlus 7 pro was launched in 2019 and has amazing specs that make it perfect for online trading.

This phone comes with a 6.41 inch screen with a Gorilla glass screen and a bezel-less display that makes it easy to use under most light conditions. It has a Qualcomm Snapdragon 855 Octa core processor and internal storage of 6GB making it capable of handling forex trading apps. It’s currently priced at around $600.

Samsung Galaxy Note 10

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Samsung is an undeniable smartphone giant and the Galaxy Note 10 series only goes to prove that powerful phones are their strong suit. The Galaxy Note 10 was released in August 2019 and is beautifully designed with aura colors that give it a luxurious feel.

The Galaxy Note 10 has a vibrant 6.3 inch AMOLED display that protects your eyes and a Qualcomm Snapdragon 855 processor accompanied by an impressive 8GB ram that makes trading on your phone easy. This phone also allows for wireless charging.

Huawei P30

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This Huawei phone combines quality and affordability and is the perfect budget option for forex traders looking to execute trades on their smartphones. It goes for around $500 and has a 6GB ram that allows you to trade on your phone without experiencing phone freezes.

The Huawei P30 has an 8GHz Octa core processor and a 6.1 bezel-less OLED display for easy use. It also has a long-lasting battery and a quick-charge feature to ensure that you’re always powered up.

iPhone 11 Pro

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IPhone users can also trade on their devices and the iPhone 11 Pro, launched towards the end of 2019 is a great phone to execute trades. This phone is powered by an A13 bionic chip and is water and dust resistant.

Compared to its predecessor, the only notable changes are a better camera and a longer battery life. The 5.8 inch screen display may seem a bit limited but it does fit perfectly in the hand. You could also use the iPhone 11 Pro Max but all you’ll be getting is more battery life.

The iPhone 11 Pro is a bit pricey but so are most iPhones.

Xiaomi Mi 9

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Xiaomi has carved a global audience for itself by constantly launching smartphones that give people value for their money. The Mi 9 phone is currently retailing for approximately $300 and is packaged with amazing features like a 6.39 inch AMOLED display and 6 GB ram that will make trading on your phone considerably easier.

The MI 9 T is powered by a Qualcomm Snapdragon 730 processor which almost provides the same functionality as an 855 processor. The 4000mah allows for long battery life while the quick-charge option ensures your phone is powered up in the shortest time possible.

At 191g, this phone can be a bit bulky but that’s a small price to pay for all the value it has to offer.

Factors to consider when using a phone for forex trading

Forex trading on a smartphone can be intensive and some phones just don’t have the capability to sustain it. Here are several things you need to consider when making a purchase.

  • Screen size – the screen needs to be big enough to enable easy navigation of the forex trading app as any mistake can cost you greatly. The phone should also have a display that won’t hurt your eyes as you’ll be spending a lot of time on the phone.
  • Operating system – ensure that the phone’s operating system is compatible with forex trading apps, preferably an Android phone that can accommodate most popular apps.
  • Battery Life – go for a smartphone with a longer battery life so that you can trade for longer.

Finally, ensure that the phone has enough internal storage and can sustain the forex trading apps without difficulty.