Stock trading has become much easier to do, thanks to the innovation of mobile trading apps. New investors and experienced traders now have the necessary tools to utilize mobile apps as their primary trading platform. Let’s look at some informative and easy to use trading apps.
This article will look at the list of best mobile stock trading apps available in the market and each of its advantages and disadvantages for your reference.
Now, let's look at the best mobile stock trading apps compared to available features for traders.
With a portfolio of ETFs from up to seven asset classes and an expense ratio average of 0.10%, Acorn’s mobile platform has made the younger generation efficient in making investments with small amounts.
This app has gained the reputation of demystifying the complicated and most intimidating process of investment for newly turned traders. You can invest as little as $5 into recurring investments or one-time investments when you have more amount.
Another mobile trading app that has been making waves in the forex circuit is ForexTime. FXTM presents ForexTime, where all the investors can have access to all of their trading tools and analysis.
With this mobile trading app, you can open and close positions in seconds, access live currency rates, manage your trading accounts, and stay one step ahead of the markets on the go.
Essentially, trading apps have to be convenient to use on the go as you might need to update your personal details, photo ID or verify your documents.
ForexTime provides all that and much more. You can get information on their new services and trading products, create personal portfolios and follow the trading strategies. Get minute by minute current news and market analysis made by their in-house analysts.
One of the popular apps for mobile trading, the thinkorswim trading desktop platform, started as an independent product but was bought by TD Ameritrade in 2009. Now, it is available to be downloaded on Apple and Android mobile devices.
Essentially, thinkorswim mobile trading app gives a tough competition to other players in the market even if it is priced higher than others.
ThinkTrader (formerly known as Trade Interceptor), is among the best trading apps for mobile devices that provide users with advanced software that will make it easier for you to track the stocks and best currencies to make your investment.
Earlier, this platform was limited to desktops alone. Still, it has only become more versatile and more comfortable to trade on the app even as it has been adapted to mobile devices. Let us take a look at the benefits of using this mobile stock trading app.
Interactive Brokers presents IBKR Mobile application, a one-stop solution for investors, giving access to stocks, futures, options, forex, and futures options. Traders can get electronic access to various global market destinations.
Interactive Brokers ranks high among the best mobile trading applications around the world in our forex broker comparison guide. Wherever you are, you can stream real-time data and charts and monitor your trading activity.
IBKR from Interactive Brokers holds the reputation for being the best mobile trading app around as it has the most secure interface system. If you have any queries or need information beyond what's available on the mobile platform, you can connect with the technical and customer service team instantly.
Alternatively, you can read up our detailed review on Interactive Brokers trading platform.
Touted as the best mobile trading app, Robinhood started as a mobile app for Apple devices that allowed its customers to trade stocks and exchange-traded funds (ETFs) without paying a commission.
It is now available as a mobile platform even for Android devices offering democratized trading. It is also available in another version as the Robinhood Gold app, using which you can invest in more companies and increase your buying power.
OANDA trading platform offers Oanda fxTrade. It is an award-winning mobile trading app that provides the investors with tools that can revolutionize the trading process.
Global trading in foreign exchange can become smoother with Oanda fxTrade application with its fast and reliable trade execution. You can place orders directly on the chart. Place, view, and close trades and orders, including limit and stop orders, directly from Advanced Charts With Oanda fxTrade, you can manage your risk exposure, monitor account profitability and trade opportunities as you buy, sell, and edit orders on the go.
In today’s fast-paced world, Forex trading has become a part of everyday business. Forex trading is larger than any other financial markets. Here, financial institutions and large international banks can trade foreign exchange in a decentralized environment.
According to the Bank of International Settlements, this global trade is estimated to generate £3.9 billion on an average day. Forex trading improves international trade as companies of one country need to complete their transactions in the currency of the countries with which they have trade relations.
Forex trading converts international currencies- for example, dollars are exchanged for euros easily and quickly.
Many firms and individual investors are entering the forex trading markets as it has proven to be a profitable investment opportunity. Though significant experience is required to make lucrative profits in forex trading, it is not difficult for a novice to start trading.
With the advent of forex trading software, automation has become a common practice. Mobile trading is one of the easiest ways to trade currencies and the best mobile trading app is one that can be used to both trade in Forex, plus provide you with useful information regarding the world of trading.
Trading tools like heat maps and daily currency correlations are available on many apps.
Your choice of the best mobile trading app will depend on several factors. This includes your personal preference, the type of broker platform you use, the type of mobile device you own, and whether you want a free app or a paid app with extended functionality.
While most of the apps are 100% free, paid apps come with more exciting options and advanced functions.
The most important thing is to ensure that the app allows you to use your current trading account and connect to your broker’s trading platform. You do not need to create a new trading account for your mobile device.
The amount of money you need to get started in using a mobile stock trading app is basically zero. Most of the mobile app trading is free. However, some of the mobile apps require some payments should you require an extended functionality.
Additionally, the amount of money you need to begin trading depends on the type of asset you want to buy. You need to remember only to use the money you can afford to lose while trading, as this type of investment involves risks of losing.
Forex trading requires a degree of preparation from the investors’ end, which is why a well-rounded trading application is required. Most Forex brokers offer applications on their websites, but if you use a smartphone or a tablet to trade on the go, you need the best apps for mobile.
Not all trading apps are efficient and provide all the features.
In our search for the most comprehensive mobile trading platforms, we have come across these great apps. Pick one of these trading platforms that offer spectacular features like incorporated economic calendars that are handy while trading your stocks or when you need to study the market trends.
Once you have chosen an app, you can use a step-by-step approach when you start as an investor. The official websites of these apps and Youtube offer hundreds of videos explaining their functionality and usage.
From our comparison, ForexTime offers the most comprehensive features for traders. However, the best mobile trading app depends on your personal trading requirements.
Your choice of the best mobile trading app will depend on several factors including your personal preference, the type of broker platform you use, the type of mobile device you own, and whether you want a free app or a paid app with extended functionality
New traders should look for trading app that provides a demo account, like ForexTime or platforms that offer advanced analysis tools to help new traders, like thinkorswim or Interactive Brokers.