Apps have their place in FX. Many traders have found at least one app that makes them trade a little better. If you want an app with only an economic calendar or those designed to update open/close data, there are two apps to consider. A comparison and review of what Forex Hours and iEconCal provide is below. Depending on the type of trader you are they may be useful or not. Remember, anytime you examine a forex product or service it is important to focus on what it might offer you. Dozens of apps exist, thus the two below may not be for every trader.
FX Apps Explored
Forex Hours is a paid app with a simplicity you may not get with other apps. It is designed to keep you apprised of FX markets around the world. Keeping the times that other markets are open can help you decide when the most volume and liquidity is found. It can also help you with trading currency pairs that might be more active at those various times. For traders who tend to trade outside their own market times an app that helps you remember the other market hours might feel more essential than someone day trading in their own market.
iEconCal is another paid app; however, this one is an economic calendar that includes all major economic countries throughout the world. Traders are able to use this app to set alerts for key data reports. The alerts tell traders when the real time data is about to emerge, as well as keeps one updated with new information as it comes out. It is an FX fundamental app. Many of the apps on the market are for technical details versus calendars. It does not mean iEconCal is the only app offering an economic calendar with alerts for news; however, it is one of a select few in comparison to technical apps.
It is difficult to compare these two apps because they are markedly different. They are specialty apps. At times though traders will compare what is more important to their trading style when deciding what to spend money on for an app. Both of these apps have something that can be worthwhile, yet a great bit of the information can also be found for free with a simple search engine search on a mobile phone.
FX Apps with more to Offer
If you compared the two apps discussed above to other more full service apps, they are lacking. It is not an issue to FX traders who only need speciality information. For someone that is a day trader on the move it might be easier to have all the information they use to trade in one place.
There will be drawbacks with any app such as paying for it when you really want an app for free. If you go with a specific specialty app like the Forex Hours you get more information with it than you might find trading hour details from an FX website. Make certain to compare and review on your own too.