How To Calculate Your Forex Trade Profit and Losses?
5 Best Platforms for Trading Forex on Mac
Even though Apple owns roughly 10% shares of the pc market, it still has many loyal users who prefer no other platform.
That being said, not every Mac user might be into trading and since android and windows are still dominating the market, the interest for porting trading software for the Apple platform has declined.
On top of that, mobile devices always get priority from the developers when they are making user-friendly applications.
Using your android device, windows desktop or even an iPhone is quite easy for trading. However, Mac devices are often ignored by the developers.
There could be a variety of reasons why trading software for Mac is ignored it but it all boils down to the number of users that are using such a device.
But there’s no reason to worry! Mac users can trade from their devices provided they are willing to make a few small sacrifices and adjustments.
One of those sacrifices came with the Mac Os Catalina update that made all 32-bit software completely obsolete for Mac Devices.
With that being said, there are still much software and forex simulator for mac that are still available for users.
So let us take a look at five of the best platforms for trading forex on Mac and help you decide which one is the best for you.
Oanda is a forex broker that specializes in retail forex. However, they also provide corporate forex services to their users.
Oanda’s headquarter is located in New York and they pride themselves in being a technologically advanced company that provides excellent service to their clients.
On top of that, they have been in this business since the previous century as they were established in 1996.
It is needless to say that they have been able to make a significant impact on society’s technological advancement over the past two decades.
As mentioned earlier, Oanda is an international platform that is regulated in many countries like Japan, Singapore, Australia, and the United Kingdom.
Users from these countries can sign up for their services without any worries as they are highly trusted online brokers.
The Oanda Trade Desktop application is supported by Mac devices that are running on OS X 10.9 and above.
Oanda also tries to go the extra mile for their customer which is why their trading software is also available on selected Linux devices.
The company behind this sophisticated trading platform is called TD Ameritrade which is situated in the United States.
TD Ameritrade is one of the largest investment brokers in the US who has been merging with other giants and acquiring top players in the industry.
The Thinkorswim trading software for Mac is no such exception. This platform was acquired by the Ameritrade organization in 2009.
It provides Mac users with a hassle-free and pleasant trading experience.
Reviews have also called the Thinkorswim software for Mac one of the most versatile trading software available on the market.
This flagship trading platform provides its users with a large variety of tools such as charting tools etc. and a plethora of customization options to enhance the average user’s trading experience.
Currently, the Thinkorswim trading software for Mac is available for Mac devices running on OS X 10.7.3 and above.
This is a new trading software for mac that is based on the 64-bit architecture. It is a powerful tool for forex trading on Mac that also supports other platforms.
You may have to go through a few hoops first to get the MetaTrader 5 up and running on your Mac device.
You will have to install a software called WINE which is a freeware software that allows its users to install and run Windows applications on Mac devices.
However, users should know that WINE is still in its initial stages which means that it is not completely stable.
Alternatively, you can also go for PlayOnMac which is a software-based on WINE and is quite famous as well.
You can use this software to seamlessly install MetaTrader 5 on virtually all Mac devices.
Hence, if you are not familiar with such a process or simply don’t have the patience to go through all the fuss to install one application then you can avoid this software.
Since it is a cross-platform application, the MetaTrader 5 software can run on most newer versions of Mac Os devices.
The organization behind the SaxoTraderPro app is the Saxo Bank which is located in Denmark.
Saxo Bank has many licenses in several jurisdictions and the SaxoTraderPro trading platform is their proprietary application.
SaxoTraderPro is an excellent native software for mac that is known to be very easy to learn and master.
As for its features, this trading software for Mac around 17 drawing tools as well as more than 50 indicators that you can use to simplify your trading experience.
The instruments available on the SaxoTraderPro trading platform for mac include forex, contracts for difference, futures, and bonds among a few others.
It also has a multi-screen function that allows its users to observe different charts simultaneously which can help them come up with strategies with ease.
You can run the SaxoTraderPro software on Mac devices running on OS 10.11 and above.
ProTrader is the final platform for trading forex on mac devices on this list and it also happens to be the only one that is not a flagship software.
ProTrader is developed by an organization called PSOFT which allows its software to be white-labeled by forex brokers.
To get the ProTrader software up and running on your Mac device, you need to buy a license from PSOFT. The basic subscription plan is as low as $10 per month.
If that sounds costly to you then you will be pleased to know that PSOFT provides discounts on their product as well although that requires a longer commitment.
The ProTrader app can run on most Mac devices that run on OS X 10 versions or above.
Even though Mac devices are least favored by app developers of trading software, there are still many strong and versatile trading software available for this platform.
Traders who are looking for a platform that has low minimum deposits and high leverage can opt for SaxoTraderPro or Oanda trading platform.
ProTrader app is also a recommended trading app for Macbooks which will only cost you $10 per month.