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Trading in your pocket: top 5 best mobile trading apps

Started by Admin, Aug 21, 2024, 09:07 AM

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Topic keywords [SEO] TRADING

Admin

Modern technology opens new opportunities for traders to trade on financial markets. Today, many brokers and banks offer their clients convenient mobile applications available for smartphones and tablets. Having downloaded such an application from the relevant shop, you can trade anytime and anywhere without being tied to a computer. This is an incredibly convenient and efficient way to stay in touch with the market and make trades in real time, even if you are on the road or on holiday. No matter where you are, your trading terminal is always at your fingertips.

What is a mobile trading application?


A mobile trading application is software designed specifically for use on a mobile device. It can be a tablet or smartphone running a mobile operating system (iOS or Android). Compared to the software installed on your PC (or MAC), or the one you use when trading online via your phone's browser, its look and functionality will be slightly different. Therefore, if you are using a broker's mobile trading app, this option will be easier than the online platform.

Mobile trading has a number of advantages:


  • Accessibility: In the past, you had to be at home or in front of a computer to analyse and trade financial assets. One of the disadvantages was that traders could miss out on many opportunities. Those days are a thing of the past. Now you can trade anywhere (in the shop, on your lunch break, on your way to work, etc.) with a trading app installed on your smartphone;
  • Professional assistance: Leading brokerage firms are well versed in the various processes of stock trading and the benefits of using mobile apps and trading platforms. In turn, using a qualified broker's mobile app is a really good idea if you want the trading process to be successful. A mobile trading app provides real-time updates on the markets and leaves information at your fingertips. In particular, it will help you make the right choices based on a particular event to ensure a good return on your investment;
  • A great educational resource: Many mobile trading apps provide access to educational information. Typically, the educational section of a mobile trading app includes information on terms and strategies used to trade financial assets or markets. They may also contain specific information on how to place orders or risk management in general. In addition, most of them provide their clients with a demo account so that they can test the effectiveness of their trading strategy on a dummy amount.

In the long list of mobile trading apps that exist today, some clearly stand out for the features offered, the reliability of the data provided and the security. Below we take a look at the top 5 of them.

1. XTB


XTB is a broker that has been providing its clients with a reliable and diverse trading package for years. With a wide network spanning 13 countries XTB guarantees high quality service and takes every client seriously. Their mobile app deserves special attention: it is characterised by high speed and intuitive interface, making it a real success.

With the XTB mobile app, you can trade more than 3,000 financial assets in various markets, including commodities, indices, stocks, cryptocurrencies and Forex. One of the main advantages of the app is the competitive commissions and fees. For example, brokerage commissions are reduced to the level familiar with spreads and swaps applied to positions.

Regardless of the instrument selected, spreads remain very low. In addition, XTB does not charge inactivity fees or withdrawal or deposit fees if the amount exceeds 100 dollars, which makes trading with this broker even more attractive.

2. AvaTrade


As an online trading platform, AvaTrade has long established itself as a leader in international finance and has become a symbol of true European success. The broker has created a powerful mobile application, AvaTradeGo, which offers its users advanced trading tools. This app combines social trading, high-quality professional monitoring and automated trading robots.

It is also equipped with display and analysis methods, allowing traders to effectively combine different investment strategies such as copy-trading, the use of trading bots and technical analysis. Portfolio diversification is available through a wide range of assets including cryptocurrencies, stocks and forex. AvaTradeGo does not charge deposit or withdrawal fees, but it is worth bearing in mind that there is a 50 dollars fee if you are inactive for three months.

3. eToro


eToro is an ideal choice for novice CFD and forex traders. No wonder the platform has attracted more than 20 million users worldwide. eToro is recognised as one of the best apps among traders, especially due to its easy-to-use social trading that allows you to copy trades from successful investors.

Available on Android and iOS, the eToro app makes it easy to manage your trading account, use the copy trades feature and follow your sales feed right from your mobile device. The platform provides access to a wide range of financial markets including ETFs, commodities, indices, stocks and currencies, providing an optimal environment for trading with CFD broker eToro.

The broker's pricing policy also makes it particularly attractive: users do not pay commissions for equity trades and do not face deposit fees. However, keep in mind that there is a flat 5 dollars withdrawal fee, and the same amount will be deducted from accounts that remain inactive for a year.

4. Capital.com


Inspired by professional trading platforms, Capital.com has created its own powerful web-based trading terminal that offers its clients the choice of using the popular TradingView or MetaTrader. To further analyse their trading habits and improve their results, users can take advantage of the intelligent eQ trading diary, which helps to identify both strengths and weaknesses.

Capital.com is deservedly considered a one-stop broker, providing access to both CFDs on cryptocurrencies, commodities, indices, ETFs and stocks, as well as traditional financial instruments, including 250 ETFs and 2,500 stocks.

Capital.com's commission fees are notable for their competitiveness. Spreads on CFDs, regardless of the underlying asset, are lower than the market average, which is particularly advantageous for trading cryptocurrencies and indices. The cost of funding is also displayed transparently. However, it is important to keep in mind that spreads on individual stocks are not fixed, which can affect the cost of trades.

5. Admirals


Admirals focuses on convenience and functionality, providing access to trading via the MetaTrader mobile and web app, as well as Mac and PC versions. For mobile trading, the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) applications are available, which are considered to be among the best for CFD trading.

Universal broker Admirals offers five different account types to provide access to a wide range of financial instruments. Four account types are available for CFD trading, including zero spread accounts, while a separate Invest account is available for investing in ETFs and equities.

Admirals' commission structure is also attractive. In the Trade and Zero accounts, CFD spreads remain very low, making trading more favourable. The Invest account has fixed commissions on ETFs and stocks. However, unlike brokers like XTB and eToro, Admirals does not offer a zero commission option.

Conclusion


Choosing the right mobile trading app is an important step towards successful investing. Each of the featured apps offers unique features and tools that can greatly enhance your trading experience and help you achieve your financial goals. It's important to find the app that best suits your needs and make it part of your trading strategy. Your next successful trade could be just one click away.