These days it seems like nearly everyone is creating an app. Mobile Forex trading apps are popping up everywhere, creating an entirely new type of Forex trading. But trading remotely can be a challenge for traders who don’t have all of their information within arm’s reach. Fortunately, there are many apps that are trying to change that, and one notable one is iCurrency Plus, created by Limited Securities which is based out of Kanagawa, Japan. Though it’s been available for about 2 years, we recently discovered this app and were highly impressed not only with its real-time currency rates, but with the way that it presents the information so that it’s accessible to traders in a variety of ways.
When using iCurrency Plus, Forex traders will have access to the rates of over 150 currency pairs, though they can choose which ones they’d specifically like to receive updates for. Rate updates are provided in real-time, even when the app is closed or the phone is locked (in the iOS 5 version only). You can also choose between two different types of notification options, allowing them to customize the way they receive updates based on their lifestyle and trading style. One option is to receive updates only when there is significant price action; the other is to receive updates to the Notification Center no matter what the rates are, so that you can always have the rate close at hand. Of special note is the ‘push’ feature that will send special messages to your phone when there is unusual price action.
Although we were most interested in the way iCurrency Plus provides currency rates, we were happy to see that in addition to rates, the app also provides a currency calculator as well as weekly, monthly and other charts for traders who wish to do their own analysis on the go.
It should be noted that this is not a free app, as other currency converters are. But with a price tag of only $1.99, we’re relatively sure that active mobile Forex traders will recoup their investment in a matter of seconds. Our primary complaint is that the app is available for Apple products only – iPhone, iPad and iTouch, but not for Blackberry or Android devices which are also popular for mobile trading.