The Best Forex iPad App For Trading Currencies Online: Plus500 and AvaFX

After a slow start in the Apple iPad (and iPad 2) App Store for forex traders, things seem to be hotting up on the currency front over at Apple HQ. There’s plenty on offer for the iPhone and iPod Touch of course (we’ve made our views clear on the best iPhone forex app in another post), but you’d be short changing yourself if you used an app designed for the smaller iPhone or Ipod Touch on an iPad. If you’ve got the bigger screen-why not use it? Here are a couple of our favourite apps for trading on the sofa…

Get The Plus500 Ipad app

Our top choice for ipad forex trading is the Plus500 app. Not only can you can you trade forex from your iPad (its easy to sign up on your tablet too unlike some platforms), but you can also trade stocks (CFD’s), commodities and Indices. The maximum leverage is x50 (which is the maximum we would recommend you trade anywway to be honest) and they offer fixed spreads (no commisions) across all of their currency pairs. EUR/USD spread is only 2 pips. You’ll get up to a 30% bonus on your first deposit.

Get The AvaFX Ipad app

You might also want to try the AVA FX app for iPad and Ipad2, also a very good option with some pretty juicy bonuses to entice new You’ll traders. need to sign up through their website first, as there is no registration on the app. That aside, the app is decent and has all the functionality you’ll need to stay on top of your trades..

Get The ActTrader Ipad app

There are a couple of other companies that have designed apps that make use of the iPad´s big screen. Our other favourites are ActTrader from ForexClub, which as well as offering an iPad, iPhone AND Android app, have some of the most competitive spreads in the industry. The other is Dukascopy who have recently launched a nifty currency trading app called "Swiss Forex Trader for iPad". (They also do an iPhone version- click here and scroll down below the iPhone app info to see the iPad app) and the other is . The Swiss Forex app has an excellent range of analytical tools and it automatically detects your connection speed- the charts are tailormade for mobile browsing. You´ll get good connections on 3g and more oomph on high speed WIFI.

The app neatly lays out all the action across a big range of currency pairs and allows you to chart across different time periods with a rich choice of indicators (MACD, Slow Stochastic, Momentum etc). A real powerhouse. There’s also news, a financial calander, forex TV streams form the Dukascopy head office (movers and shakers etc) and price alerts. We particularly like the analysis section which maps out pivot point levels (standard, Woodie, Fibonacci), movers & shakers , daily sentiment and daily highs and lows.

This app is great to have open by the side of your pc when you are trading. And if you are trading on the sofa, there is no more powerful tool than this application.

Another option is Oanda fxTrade (nice design, limited analytical tools), although we find the iPad app a little slow to load up graphs.
 

Weekly review……….. Mrs H´s forex tips

News that Swiss Central Bank Chief Hildebrand’s wife Kaysha was making money trading the Swiss franc as the central bank intervened and introduced the peg is certainly an embarrassing revelation. However, it is not illegal. No you cannot be caught for insider trading in foreign exchange to my knowledge. So leave the women alone and find out what she thinks of the Euro I say.
It’s a sell of course as any ex forex dealer would say. The trend is down. Fine tune or finesse you’re selling. Take profits and intra day trade but don’t miss out. EUR/USD is going down, not in a straight line but it will be under 1.20 some day soon. I had hoped for a bounce to maybe sell some more but price action on Friday shows that there is big sellers out there and barring some freak about turn by Germany and the ECB its going South.
You can bet your last dollar or euro that the growth story is getting worse in Europe. If anyone can produce one instance in economic history where increasing taxes and reducing spending will somehow produce growth and not decline then please show me. Greece is the forerunner to any other Southern Mediterranean euro zone country. Do people spend if they don’t have money? Do people spend if they are worried they might not have a job or money? No.
Anyway that’s enough ranting and you know we are short EUR/USD and our target is near 1.20. We might lower that but we will see how things pan out. Quantative Easing (QE) by the Federal Reserve is still on the cards at some point but do not factor that in as some bearish dollar signal yet or for some time I would suggest. Right now why would you buy a Euro (and I don’t mean for some technical bounce as players are very short) all signs are for a weaker currency which will at least help out economies a small bit (the Germans even more ha ha)
China is also somewhere to watch closely together with other emerging countries. I am in the camp that thinks growth in these places could suffer more than is being factored in. The only real good news has come from the US where despite all the gloom the economy seems to be getting itself slowly better. What a pity it will be if as looks likely it is derailed from abroad.
Finally the stories from Italy and the tax police (Guardia di Finanza,) just have to get a mention. Having pounced on their exclusive ski resorts they are going to do more in other rich playgrounds in Italy
The description of Ferrari driving rich who claim to earn less than €20,000 a year is amusing but also sad. Tax evasion is endemic and what’s more presumably for the last 30 or 40 years those same tax police have ignored it or more likely benefitted from ignoring it. It’s too late to get quick fix as markets will not wait that long.

Headlines
 

• US Non Farm Payrolls (NFP).. Up 200,000 against expected 150,000.Unemployment falls to 8.5% from 8.7% expected. . US data continues better adding to the firmer US dollar tone
• ECB takes a record €455 billion on overnight deposit…. Now we know what happened to the €489 billion that 523 banks borrowed for 3 years…..Interbank lending remains virtually non-existent
• Italian Unicredit struggles to raise more capital and share price falls
• Sarkozy…France prepared to go it alone on transaction tax. Go on Sarky a few extra votes but not from Paris bankers we assume
• IMF Economist sees euro zone recession… What a guru thinks Greece still in trouble too… even more of a guru
• Euro zone retails sales down 0.8% (2.5% YOY) in November much weaker than expected………Recession
• German November industrial orders down 4.8% month on month (Expected –1.8%)…. Even German data disappoints
• IMF´s Lagarde… IMF to downgrade global growth forecasts. Confident Euro will survive 2012….. Was that a vote of confidence 2013
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No matter where you look Europe and particularly euro zone data is worse. The ECB continues to fend off weakness in peripheral bond markets with limited intervention.
The policy of muddling through continues and the EU summit scheduled for the month end and apparently to discuss and promote growth in the region could be a failure even by their high standards of underwhelming markets. Only one conclusion Euro lower. EUR/JPY hits all time lows but my preference is to stick with shorts against the dollar
 

Friday update. Euro still on back foot but technical bounce possible

Sorry for the lack of updates folks but it seems in some parts of Ireland the internet mouse fell off the wheel for a few days ( Well it has been gale force winds poor thing). Talk about back in time.

Anyway my conclusion to the first few days of trading seems to show that Euro weakness has continued be it risk on or off.. Whatever seems to be happening in equities or bonds for that matter has done little to support the Euro. Elsewhere the US currency performance remains pretty mixed. However, I would not rule out a decent bounce today perhaps 100 pips or more although much may depend on the French bond auction and US Non Farm payroll data. The rhetoric from eurozone politicians and central banks remains the same but forex players just don’t believe all the spin. Any corporate treasurer worth his salt should be making provisions for at least further euro zone tensions if not a complete break up.That seems to be reflected in price action for EUR/USD. This is not all speculative selling its real money running away to a safer haven.

EUR/USD having been down to 1.2760 ( weekly low 1.2585) could make it back to 1.2900 but I would not bet on that with a long position as just above EUR/USD 1.2500 would remain my short term target.

I have noticed that while away from Spain the new government has done just as I thought which is get all the bad news out on the table quickly. Budget deficits for last year were raised and likewise bank capital numbers. Still worse to come me thinks and thanks for the tax hikes, that will get me spending.

Here in Ireland economic conditions remain about as bad as the weather. Yesterday though it was reported that 13000 jobs were added from overseas companies (6000 lost) but at least its headed in the right direction. Ireland may need to renegotiate loans and will Mr. Sarkozy insist on a change in their corporation tax levels which seem to be sustaining the modest improvement. To my mind this is typical of what is wrong with the euro zone and you can expect the Irish to tell the Frenchman to naff off.

Elsewhere it is still rumor city be it North Korea, French downgrades or economic data.

A French downgrade is in the market now so don’t expect much downside when it happens and it might even be worth a quick profit take. Mind you watch out if its worse than expected or carries further health warnings. By and large though its probably shaping up for a classic sell the rumor by the fact job

Other News

• Belgium 2012 budget rejected by European commission. Another over optimistic projection but who cares.
• Tax evasion Italian style. Check out this Telegraph article
• ECB continues to support euro zone bond markets
• Large French bond auction today
• US NFP (Non farm payroll) data now expected to be better than expected. ( In which case its now expected to be better so watch out if you get my drift)
• Solid technical support for EUR/USD between 1.2625 and 1.2525 remains a tough hurdle for a while.
• No austerity protests in Ireland. The weather is just too bad to get anyone on the streets in Ireland no matter what mood and a pint of guiness in a bar still wins out at the moment
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Best Forex Broker For Trading Currencies on iPhone or iPod Touch

Many people have an iPhone or an iPod touch these days, and there are are plenty of forex and currency apps available. The iPhone 4S has taken over from its predecessor, and the iPhone 5 is on its way (Sep 2012?). Many of the newer FX online brokers have created platforms for traders with iphones, so they can keep an eye on their open positions while they are out and about.

One of the questions we keep getting asked is :
"Which is the best iPhone or iPod Touch forex trading platform?"

Well, after vigorous test on all of the available apps, we´d plump for EasyForex for it´s simplicity and clear design (excellent for traders up to an intermediate level) and Dukascopy if you are a more experienced trader and need a real powerhouse in your pants that has most of the technical analysis tools and gizmos you´ll need to keep you happy. See below for the full review of both of these apps.

Best Overall i Phone/iPhone 4S/iPod Touch Forex Currency Trading Platform: Easy Forex
Score: 8.7 / 10   Visit Easy Forex		Trade Now on Your iPhone / iPod Touch
An excellent forex app that allows you to trade on the go. Very quick and uncluttered. Good for traders of all skill levels. Currency Rates Real-time charts Inside Viewer™ Financial Calendar Outlooks Your positions Check your Account Statement’s free balance, total margin and profit/loss. Close deals and cancel limit orders.		Full Details of What The Easy Forex App gives you : Currency Rates Real time rates for multiple currency pairs and commodities including Oil, Gold and Silver. Charts We found this feauture particularly powerful: Analyze real-time charts on your touchscreen. Rotate your iPhone to move from vertical to horizontal chart views. Inside Viewer™ A powerful trading tool that gives you a unique market insight. See which currency pairs are most popularly traded, in which direction, and see the aggregate deal structure of all open deals across the platform. Financial Calendar Keep up to date with breaking Economic Indicators. Outlooks Read Daily and Weekly News Outlooks. Positions Get a secure real time report of ‘My Position’ with all your deals. Check your Account Statement’s free balance, total margin and profit/loss. Close deals and cancel limit orders.

We continue to look out for good forex apps. Another star performer on this platform, particularly for power users, is the Dukascopy platform. The design is very clear, and while the complicated technical analysis is best done on your pc, this App has more than enough charting and features to keep you ahead of the game and on top of your deals.

How to Start Trading on your iPhone or iPod Touch
Simply sign up for an account at EasyForex or Dukascopy.

Both the Easy Forex app and Dukascopy applications are then available at the Apple App Store. You´ll need to set up an Easy Forex or Dukascopy account, of course, and you can test the Apps out with a practice accounts.

Dukascopy iPhone & iPod Touch Forex Trading Platform Review
		The Dukascopy FX iphone app is a real power tool for experienced and advanced traders that will allow you to do most of the things that you do on your pc, but on a small screen. We were particularly impressed with all of the charting tools- this cheeky little app has most of the technical analysis tools (MACD, Stochastic Oscillators etc) that you´ll need. Online FX Quotes (20+ currency pairs) Live Charts with technical analysis FX Market News Economic Calendars Dukascopy TV SWFX Sentiment Index Daily High/Low Movers & Shakers Pivot Point Levels Forex Calculator

Weekly Review…..2012 Unpredictable , uncertain, and more weak politics

Major events and predictions for 2012

2012 offers the possibility of enormous volatility in all markets. Forex markets should not disappoint and will therefore offer opportunities for traders new and old to make substantial profits or losses. While every pundit and economist will have a view on what might occur the mere uncertainty will be a driving force . Not only economic but geopolitical events could once again come in to play.

What to look out for in 2012, a country watch word and Forex predictions

Euro zone.
The Euro zone remains the focus for all markets in 2012. Italy´s ability to fund itself will be crucial in the first 3 months of the year with a large programme of bond sales. The credit crunch, particularly in southern Mediterranean countries remains acute and austerity drives look certain to make the growth outlook very poor

• Greece. Austerity burnout. Greece remains on a downward spiral as recession means budget targets cannot be met. Prediction… Greece will be forced out of the euro zone in 2012
•  
• Spain.. Banks… The banks in Spain remain a major headache for the new government. A large hit must still be taken on property which thus far has not been addressed . Like Italy , Spain must make some major changes in employment laws. Yesterday prime minister Rajoy announced a likely 8% budget deficit for 2011 from the previous 6% and a raft of austerity to keep markets at bay-
• Italy.. Bonds… The yield which Italy pays for its heavy bond programme next year will be crucial. Austerity and particularly labour reforms will need to be seen to be enacted not just promised . Prediction Italy will be the make or break for the Euro. Jury still out.
• France. . Election. The French election could be a major factor in the Euro zone politics. The Socialists (Favourites to win) have already talked of renegotiating commitments made at the last summit. Prediction bye bye Sarkozy
• Germany… A lower Euro will keep the German economy in positive territory.Divergence rather than convergence with weaker countries to continue
• ECB.. The ECB will be forced to support bond markets and maybe lower rates faster than inflation falls, as much of the euro zone sinks into recession. If they allow Italy to be shut out of international bond markets then they will have signalled game over for the Euro as we know it.
• Prediction EUR/USD Expect to see levels under EUR/USD 1.20 although the prospect of a complete collapse would see huge volatility and moves into the Yen and Swiss Franc ( The Swiss National Bank would be swamped in the event of Euro break-up)

Rest of the world

• United States.. Vital to the US remaining out of recession could be its own housing market. However, the economic wind that blows from China and Europe will also have a major impact The up and coming election makes any deficit package unlikely .More QE from the Fed could halt the US Dollar rally at some point
• United Kingdom. At Europe’s mercy. The UKs fortunes remain heavily tied to the euro zone. However, it will continue to have a safe haven status while troubles continue in Europe. Another round of QE remains a possibility and the authorities will be concerned with any further recovery of the pound against the Euro
• Japan.. Currency woes Japan could find itself struggling to hold the Yen back amidst the Euro fallout. Last week saw a break of EUR//JPY 100. Prediction. While Yen strength could dominate early on we could see the year end with weaker levels (USD/JPY over 90)
• China. Growth… Recent economic data is pointing to a slowdown in China. As things stand markets are presuming that Chinese authorities will manage to sustain high, if somewhat lower levels of growth. Prediction…. A somewhat harder landing for the Chinese economy could spook markets.

Geopolitical.

• Out on the streets.. More Arab Spring. Plus perhaps Europe and Russia might see demonstrators hit the streets
• Syria and Iran could be major influences on markets in 2012
• Oil. The range in predictions for oil vary between $70 and $150.. No other commodity has the potential to influence world growth as much. A massive spike higher in prices would be a disaster for fragile economies perhaps causing a world wide recession.
• Currency wars… Efforts to halt currency appreciation amidst declining economic activity or competitive devaluations will cause friction among major nations. China and Germany could be in the firing line.

On Wednesday, hundreds of Greeks rushed to settle last-minute issues at tax offices ahead of the strike. Many surrendered their car license plates, preferring to take their vehicles off the road rather than pay the increased road tax…………….the end is near

Happy New Year and Good Luck, we are all going to need it

Friday update.. Stocks and Euro bounce again

With the Italian bond auction passing without too much drama stock markets edged up and in forex markets the US Dollar lost some ground. EUR/USD was back at 1.2950 but the Euros performance against the Yen and Swiss Franc was less convincing. EUR/JPY is holding close to the 100 level but looks destined to break at some time in the New Year.
Data from the US continues to support equity markets but the cloud which is Europe is still hovering.

Headlines

US Jobs data continues to add some optimism to markets
Chinese data softer. December manufacturing data showed a continuation of the slight contraction
Italian 10 year yields over 7% but no large selling pressure
Gold falls to $1522 but recovers. Remains vulnerable to further shake out
Euro zone money supply data continues to show North , South disparity with contraction in Southern Med countries

Thursday update.. Christmas cheer fades

Sorry folks hopes of selling some EUR/USD evaporated as risk was sold and the US Dollar moved higher in thin year end markets. EUR/USD holds near 1.29 following lows of 1.2885 but more noticeably 10 year lows against the Yen close to the physiological EUR/JPY 100 level at 100.50

Strangely it was Sterling that led the way lower GBP/USD ( Cable) taking a kick in thin markets. However, on the back of the better short term Italian bond auction price action for the Euro tells the real story. Todays longer issues will test the markets but one suspects even a relative success will be met by selling on any bounce.

There was always a danger that EUR/USD could take a slide pre New Year in thin markets. Opening 2012 well under 1.30 could mean we see longer term predictions of 1.2000 by January.

• Commodities, Gold and silver sold off – Gold eyes test of $1500
• Equities sell-off steadies in Far East and Europe opening
• US Data eyed as only possible lift for markets
• ECB data confirms crisis in Bank lending. Recent data confirms that the ECB remains the main source of lending and depositing for troubled European banks.
• Greece. Bad news continues to emanate from Greece and could become the focus for renewed speculation on default or additional debt haircuts

Wednesday update… Italian bonds remain key

As we approach year end there is very little for markets to focus on other than Italian bond auctions this week. Short term auctions have been fine today but the key will be the appetite for longer ones on the 29th December and of course going forward next year. It may be that banks will be persuaded to help and that might give the Euro a small lift. EUR/USD sits near 1.3070 but could well offer better selling opportunities before year end
 

Friday Update… Christmas spirit prevails

As markets generally limp over the line to Christmas equities have continued a better tone providing a small lift in commodities and calm forex markets.
Indeed if the thin markets of the next week allow stocks higher we could have more of the same.
In currencies not much to talk about although the record high for the Australian dollar against the Euro is worthy of note. Australia and Canada as commodity currencies cold suffer in the event that world growth is lower than expected. However, they are beacons of light as far as country risk goes and will continue to benefit as China and others with huge reserves diversify and investors seek safer ground.
EUR/USD has made little ground back, settling just under EUR/USD 1.3100 despite the friendlier markets and sentiment is still very poor in the euro zone.
The challenges for that area remain and will be the focus again for next year. Unfortunately it looks like more of the same. Reactive rather than proactive policies.
Europe has another summit organised at the end of January on the issue of growth or lack of it. More likely there will other crisis by then to discuss.

Headlines.

• US employment data better than expected
• US GDP Q3 revised to 1.8% from 2%
• US house agrees 2 month extension to payroll tax . Rearrange these words. Can kick the road down the
• Italian austerity measures passed by senate. Next year focus will be on implementation of reforms. Will it happen quick enough or at all.

I would like to take this opportunity to wish all our readers and traders a very happy Christmas and prosperous New Year

Thursday update… Huge European Bank Heist

If you doubted a major Euro zone credit squeeze then now you have the evidence

Cash strapped European banks took an amazing €489 billion off the ECB at the 3 year LTRO ( Long term Refinancing Operation) overshooting estimates by almost €200 billion and spooking markets. This was particularly in the case of Italy who were reported to have accounted for 116 billion. There was also concerns regarding collateral which was created by the issue of state backed bonds by banks there.
So we had an about turn in everything and actions designed to calm markets with a huge liquidity injection are causing concerns at the numbers required ,overtaking the 442 billion 1 year refinancing in 2009 at during the last financial crisis.

In forex markets the US dollar rose of course with EUR/USD back closer to 1.3000 and the Euro itself weaker on the crosses. However this morning we have risen back to 1.3100 in quiet trade.

As all markets begin to get thinner watch equity markets as perhaps the driver of events in the next few days. A rally in stocks might still feed through to forex markets but time and enthusiasm would appear to be slipping by.

Headlines

• European banks take 489 billion Euros in 3 year financing from the ECB
• Euro zone peripheral bonds weaken undoing Wednesdays gains
• Commodities and Gold lower. Gold back under its 200 day average ($1623)
• Spanish pm chooses ex banker and economist Luis de Guindos as finance minister
• ECB announces 500 new jobs in its collateral checking department