If following the financial markets and trading instruments is something that you would like to accomplish while on the go, you are in luck: mobile trading is a major focus of financial technology developers who seek to provide seamless experiences from desktop to laptops and from smartphones to tablets.Mobile trading is not exactly new; some of the biggest stock brokerages have been offering mobile account access since the days of personal digital assistants such as the Palm Pilot.
It took nearly two decades for developers to create apps that bring the full experience of desktop trading to mobile devices; these same developers are now working on bringing the functionality of a Bloomberg terminal to your iPhone or Android-powered device.
One of the most successful businesses focused on electronic markets is Michael Spencer’s NEX group, a financial technology company at the center of global markets.
With the above in mind, here are the top mobile trading apps as of 2017.
In terms of branding and familiarity, you can’t go wrong with E*TRADE, a name that is synonymous with online trading. E*TRADE is known to encourage clients to make research a priority in their lives as financial traders; to this effect, this mobile app strongly focuses on making information easy to access and digest. Beginners will find educational tools that can be displayed from just about any screen, and the interface has been optimized for voice search and commands for the benefit of Apple Watch users.
This is the only app that can be unequivocally characterized as being more advanced and intuitive than E*TRADE Mobile. TD Ameritrade offers two options for clients who wish to trade from their mobile devices; the Mobile Trader platform is for very active traders who take market positions based on technical analysis. The charting functionality offered by the Mobile Trader app rivals desktop software, and the sheer amount of indicators, watch lists and alerts make it ideal for active investors.
Just about all mobile trading apps are free for clients to install; they do not have to worry about fees until they actually take a position in the market and are then charged a commission by this broker; this is not the case with Robinhood, a mobile-only trading platform that does not charge any trading fees. The social media features incorporated in this app make it very attractive to beginner investors who would like to learn from fellow traders. For more active traders, Robinhood offers a Gold level that only costs a few dollars per month.
If you are new to investing and trading, you will need to learn the concept of trading on margin, which is similar to obtaining online loans that you can use to attain your investment goals. With TradeHero, you can learn all about mobile trading without having to risk your savings. TradeHero is highly educational; you start out with $100,000 in virtual funds that you can augment with margin trading. You will also have an opportunity to earn cash prizes by entering trading tournaments. Of all mobile trading apps, this is one of the friendliest and most engaging.
In the end, your choice of mobile trading app will be determined by how comfortable you feel with it. The apps listed herein offer a mix of instruments you can trade, but they strongly focus on equity securities. If you decide to focus solely on foreign currencies, futures, and options, you may want to research apps that are dedicated to those instruments.
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