Mobile Apps are available for almost everything these days. From flight ticket booking, movie tickets & even you can purchase your daily groceries via app.
In the same way apps are available for trading as well. There are many firms which offer apps but we have brought you some top apps which you can use for opening your demat account to start trading.
Why are trading apps so great?
Trading apps can be used for trading, learning, charting, finding trading ideas, and also for market data and news. Some of the apps provide all the features whereas some have few of them.
Trading apps are offered by almost all of the companies which allows trading. Which means a trading app is provided by all the brokers providing brokerage services. Now why are trading apps in demand these days?
The reason behind this is that we all have mobile phones in recent times and providing mobile app ads extra benefits to the device. In olden times you had to sit in front of your computer to execute every of your trade. Which sometimes become cumbersome and tedious. And also make you stay at the same place till you are done with your work.
But mobile apps have solved this problem. Now with the help of apps you can carry out trade anytime & anywhere. It lets you do other work easily along with trading. Mobile app allows you to perform technical and fundamental analysis any time, which is earlier possible with the help of computers only.
What To Look For in an App
Good apps will enhance your trading experience, helping you to make accurate and informed trade decisions. Below are a few essentials you should look for from your app:
- Features – You need an app that provides you with all the essential information. So check you get market updates, charts, trends, news updates, plus the usual stock price tickers.
- Ease of use – Every second counts when you’re an intraday trader, so make sure the app is easy to navigate. You need to be able to identify and apply key information swiftly.
- Concise – The best apps provide you with enough information to lead you towards the correct trade, but without bombarding you with so much information you’re pressured into making impulsive decisions.
- Reliability – You don’t want the app crashing when you’re about to enter or exit a position. Check reviews first to make sure it’s efficient, reliable and kept up to date.
- Cost – Most brokers offer free apps. So, if the broker is going to charge you for app use, check you’re getting worthwhile additional features. Having said that, a free app shouldn’t be the deciding factor when choosing a broker. For more information on choosing brokers, visit our comparison table and reviews.
- Security – Trading apps have millions of users and process billions of pounds. This makes them an attractive proposition to hackers. The security firm, IOActive, tested twenty-one of the most popular apps and found four were vulnerable to hackers. You don’t want to lose your hard earned capital, so check reviews for security information first.
Good apps for day trading will have all these boxes ticked. If the app you’re considering falls short in any of these areas, think twice.
5 Best Trading Apps of 2021
|App||Approves Clients from||App Score||Trading fees|
|TD Ameritrade||US, China, Hong Kong, Malaysia, Singapore, Thailand, Taiwan, Canada (through TD Direct Investing)||4.8||$0.0|
Best Trading Apps for market news, data & learning
|Investing.com||5.0||Free||1. Trading Ideas|
2. Economic Calendar
3. Trading Ideas
|Bloomberg||5.0||Free||1. Product Overview|
2. Financial Data
|Invstr||4.8||Free||1. Account Summary|
2. Comparing Products
3. Social Functions
|Trading Game||4.5||Free||1. Educational Text|
2. Collecting Virtual Money
3. Competitive Among Users
|Trading View||5.0||Free||1. Watchlist |
2. Trading Ideas
3. Trading Forum
|Stocktwits||5.0||Free||1. Basic Charts |
2. Trading Ideas
3. Following People
There are separate articles elaborating about the firms we have mentioned above. All the pros and cons, account opening process, fees, functions & more discussed there. You can visit them to get more knowledge.