Best Stock Trading Apps
Over the last few years, retail stock trading has gone online. Online brokers give retail traders access to a wide range of tradable assets, including stocks, ETFs, mutual funds, and index funds.
Mobile platforms are the preferred tools of traders. Initially, desktop-based platforms outperformed mobile trading apps. They had more features, better execution, and better technical analysis tools. These days, however, mobile apps have caught up with their desktop-based peers. Traders can now trade on the go enjoying the same features and capabilities on their mobile phones as on a desktop app.
What do the best stock trading apps have in common? What should you expect from your stock trading app?
At the most basic level, you want your stock trading app to perform reliably in three categories:
- Trade execution
Depending on how you use your trading platform and what your goals are, you may need lightning-fast execution. Stock trading apps are for those looking for a hands-on way to manage their portfolio. If you make frequent moves with your investments, you will also find a mobile stock trading app useful.
Does Your Mobile Trading App Give You a Full Experience?
Through a desktop-based trading app, you gain access to a wide range of markets, scores of technical indicators to use for analysis, and outstanding charting features. Your mobile stock trading app should cover everything a desktop app can offer.
The best stock trading apps allow you to open positions, track them and close them through the mobile app.
Never trade stocks with an unregulated and unlicensed broker. Make sure that your broker has a license from your local financial authority. Only then can you expect the laws to protect you. The regulatory body in UK is the Financial Conduct Authority (FCA).
If you trade frequently and use technical analysis, you need powerful charts and charting tools.
The best stock trading apps support a wide range of technical indicators and options for auto trading.
You can manage your risk by using special order types. The best mobile stock trading apps support an exhaustive selection of order types. Your app has to allow you to set orders that support stop-losses.
If you buy stock as a long-term investment, you don’t need fancy trading and analysis tools.
Perks and Special Features
The trading apps of serious investment brokers offer many perks that may seem insignificant at first glance. These perks can prove extremely useful, however.
- The ability to trade fractional shares
- Commission-free trading
- Technology to help you make decisions
- Coaching sessions
- Economic data tools
You need your trading app to help you make seamless trades and stock investments. You need stability, reliability, features, and execution speeds. You also need reliable deposits and withdrawals. The best stock trading apps give you all this and more.