The Forex exchange market is one of the most exciting, fast-growing, and global decentralized markets in the world. Despite it having the risk of losing, Forex traders still love it and are always looking for new and innovative ways to get the most benefit out of it. Thanks to the advancements in technology, traders can now access this platform on their smartphones. They can do almost anything with their smartphones, including placing trades and managing them. Smartphones give Forex traders and brokers 24-hour access to the market which brings with it some significant benefits like keeping an eye on the market and on their accounts at their own convenience.
However, choosing the best phone for Forex trading is a daunting task. Over the years, both iPhone and Android phones have had big years and even bigger phones being released year after year. With the latest iPhone X and Android’s leading user Samsung Galaxy S9 series, both going head to head in terms of features, display, and software, it makes it even harder for mobile Forex traders to choose.
Here are a few things you need to take into consideration when choosing a phone for trading forex:
- The Operating System (OS)
The OS contains the software that supports a phone’s functioning. This is the software that allows users to make phone calls, send messages and install new apps. iPhones and Android phones contain some of the best OS for mobile Forex trading.
- Size of the screen
When buying a phone for Forex trading, make sure its screen is not any smaller than 5 inches. Otherwise, the charts of Forex markets will be a nightmare to navigate. A large screen allows you to trade more comfortably and efficiently by evading small mistakes. Resolution of the screen is also an important aspect to consider with the max being 1920×1080 (1080p).
- Battery life
Battery life is another crucial factor to consider. You do not what a phone that will die on you mid-trade. Ideally, the phone’s battery life should run 6 hours when in active use. This is enough to handle a day of heavy usage without having to worry about having to pop home for a recharge.
Most of the iPhones and Android phones on the market today offer excellent battery life, speed, and looks. This makes choosing the best handset a challenge.
These phones run on iOS. Today, most iPhones come with iOS II, which is the latest version of their operating system. With this, the iPhone is able to operate seamlessly between the phones and tablets.
iPhone recently launched iPhone X, which was dubbed the most innovative and high-performance smartphone display of all time by DisplayMate. This phone is exceptionally beautiful with a glass back that curves into a sizeable 5.8 inch OLED display and a resolution of 2436×1125.
Every mobile Forex trader dreams of a phone with more battery life. The iPhone’s latest model still comes with the same battery. With this phone, you can look forward to doing a lot more work charging it, especially if you are a heavy power user.
iPhone continues to deliver state of the art software updates by making them available to a vast majority of its models. This allows everyone working on the iOS platform to run on the same security updates once launched. Android still has not figured this out.
Android is also a powerful contender. It offers more choices in terms of the hardware you opt for. For instance, the Samsung Galaxy S9, which is the best Android phone on the market today, comes with a massive 4GB or 6GB (S9 plus) of RAM. This is enough to use as a mini computer. If you like drawing and writing on your screen, the Samsung Galaxy Note 8 is best phone to do it, its stylus S-pen makes it easy for traders to make notes on their trades and to create a proper trading journal on the screen. It also comes with the Bixby virtual assistant that lets users make a voice command.
It comes with a 5.8-inch screen which makes it one of the largest phablets (phone/tablets) and features a 2960×1440 resolution.
The S9 has a big battery that stands at 3000mAh and S9+ at 3500mAh, which is equivalent to 11 hours battery life.
Both the iPhone and the Android phones are without doubt terrific phones. With the iPhone X, you will get to enjoy superior tech, face recognition and an incredibly fast and powerful A11 chipset. Still, the Android Samsung Galaxy S8 is without a doubt the best smartphone for Forex trading. Its battery life of 11 hours and 11 minutes and 6.3-inch display makes it a dream come true for mobile Forex traders. So far, I highly doubt any phone can beat this android phone for trading.