ReelDirector is the 1st and the most feature rich, powerful free video editing software for iPad. Just set Quality to “High 640×480″, ReelDirector will NOT downsize if the first video added to project is HD. If you really dig video editing and want to take full control, you should get ReelDirector. When you get this app, you will get the high quality HD output, only re-compress when necessary, quality loss due to editing is minimal.

Free Video Editing Software - AirGrade 

AirGrade is a color correction surface for iPhone and iPad.  AirGrade allows you to create grades using the digital control surface.  Pair AirGrade up with the AirGrade Engine (a free application) and you’ll see real time grading on your computer monitor.  Once you find a grade that you like, simply save it to the ASC format and apply that file information to your footage in any pro color correction application.

Free Video Editing Software - Teleprompt+

The most advanced and full-featured professional teleprompter for the iPad! Many new features - including video recording, BlueTooth keyboard and foot pedal support, additional fonts, preview window, comprehensive user manual and help screens. You can try to convert video to ipad 2 to use this editing app. Teleprompt+ is a simple yet powerful professional teleprompter for the iPad. Perfect for podcasters, filmmakers, musicians, or anyone who would benefit from having a powerful visual aid while engaged in a public speaking activity.

Free Video Editing Software - Wax

Wax is a high performance and flexible video compositing and special effects software. The idea for Wax is to be very general purpose and flexible in video compositing and effects, so that you can compose your dream video sequence with ease everytime.Wax can create 2D & 3D special effects and can work in two modes – as a standalone application which would appeal for home users/beginners, and as a “plug-in” to video editors/NLEs which would be more useful for professional editors.

Free Video Editing Program - Blender

Blender is the free open source 3D content creation suite, available for all major operating systems under the GNU General Public License. It is one of the powerful, multi-use editing/compositing and modeling tool. This tool allows you to edit, create 3D graphics, sound effects, add special effects and much more.

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