Broker apps: Great features but must have an account

In the second of our ongoing series, we compare some broker apps.

Today you can trade gold in London as easily as Hong Kong and all before the futures market’s morning bell rings in the United States. The exchanges, brokers and vendors have worked hard to make futures trading more accessible and transparent around the world to encourage competition among traders from everything from stock indices to pork bellies.

Two companies – RJ O’Brien and TradeMonster – are leading the way in making the markets more available to traders with cutting-edge technology. Each of these futures brokerages have introduced two phone trading applications that give their customers the latest in real-time quotes, charting abilities, order execution, and more, to help them achieve their trading goals.

For R.J. O’Brien, go to Apples iTunes and search for “RJO Mobile Trader,” which is free to download. However, as with most brokerage apps, you’ll need to have a trading account, in this case at RJ O’Brien, to access its features that give you 24-hour access to a global futures market from indices, metals, agriculture, currencies, options, and more.

RJO App

Once you’ve downloaded the app, you’ll be asked to type in the same username and password that is connected to your trading account with RJO.

The RJO Mobile Trader app is different from most broker apps in that it interfaces with the RJO WebOE, a free web-enabled application that is a firewall-friendly order entry platform that connects traders to the global futures marketplace.  

The app has five modules – positions, balances, quotes, orders, trading – and enables traders to place, change and monitor order flow anytime, anywhere. But, it also provides the online security you expect in addition to up-to-date research and order execution from a modern day broker.

One drawback with RJO is that you don’t have the ability to do option spread trading from its mobile app.

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