I have spent the last 2 days trying to befriend the MT4 & MT5 apps for Android, and I am not having much luck in figuring out how the developers of these things are thinking.
Since 2011 I have been trading with Plus500, and the last six months pretty much ONLY using their android app on a Samsung 12.2 tablet. Now I want to trade with a different broker (or several), since I am very unhappy with P500's policies regarding affiliate compensation, and all of a sudden I am thrown into a very unpleasant awakening: There are NO other Android apps out there that seems to be able to cater to even the most basic needs of high paced daytrading. If what I have seen so far is the best this world has to offer, then God help us all...
For example: When I am about to place a trade I want to know right there and then, BEFORE I place it, exactly how much of my margin it will use up, what it will cost me in commission, the size of the deal and most of all I want to be able to see visually on the chart exactly where the spread and commission of this deal will land my break even point.
In Plus500, when I initiate a trade by right clicking on a chart, a little box opens up where I can select the trade size, and as I change that, it dynamically updates the value of the deal and the required margin. Also, in this box it displays the current rate adjusted for the spread, so I can see exactly where the break even point is.
In any other app I have looked at, the only part of this that is present, is the ability to select the size of the trade, and in the case of MT4 / MT5, that selection process is a joke. If i wanted the rest of the information mentioned above I would have to manually check on the properties of the specific instrument for the contract size and spread, bring the calculator out and work the numbers out... And of course by the time I have the information I want, the opportunity is long gone.
How hard can this be? If Plus500 can do it, why not MT4 / MT5? For someone like me who has gotten used to the P500 interface, trying to trade with anything else, feels like flying blind with at least one hand on my back..
Please tell me I am missing something here and that there is hope after P500..