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At the last count, there were over 1 million apps in the app store. The exact numbers are not clear but there’s numerous finance and forex apps to choose from, many of which are free and many of which cost money.

Surprisingly, the free apps are often a lot better than the paid apps. Here are 5 of the best iPhone apps for forex traders:

Guest post by  FXTM

Bloomberg

Bloomberg is one of the top financial news sites in the world and the Bloomberg terminal is what traders at the top of their game rely on for all their news and trading needs. The Bloomberg app delivers up to date market events direct to your phone. Bloomberg are specialists on the financial markets and their free app is the best for news.

Oanda FxTrade

Several of the big forex players have their own app but Oanda’s has to be the best for its simplicity and ease of use. The all-black layout makes it super easy to find the markets and charts that you want to trade, and these all link up to your Oanda live or demo account. In fact the demo account on Oanda is one of the best as it has no expiry period. Stop-losses, profit targets and different time frames can all be utilised on screen.

Gorex

Gorex is another free app for the iPhone. It doesn’t offer trading functionality, instead it provides a graphical representation of a number of forex pairs, indicating their recent movements. The visualisation tree allows you to see just what is going on in the markets at any point in time in a unique and different way.

ForexYard

The app from ForexYard brings the desktop version to the iPhone, it’s an extremely popular interface that does all the things you would expect. Stop-loss orders, real-time quotes, chart indicators and currency overviews are tools that have been made simple and easy to use on the app.

iCurrency Plus

This app costs around $2.50 in the app store although there is also a free version. There aren’t trading facilities on the app but it provides price updates and graphs for over 100 different currencies. That way it’s easy to see what currencies are moving and where they are going.

It is super easy to change currencies and timeframes and to check conversion amounts on the spot. It will also notify you if there have been any drastic changes to the currencies your tracking.