Choosing from the wealth of apps out there that can be used for online financial trading can be a bit trickier than choosing other apps. This is because you need to create an account to trade with an app and really try out its features, because of course, you will be using it to make real trades with your real money. This means you can’t really do what many of us do when choosing between other tools and download a few of them before choosing which we want to stick with going forward. You can sometimes play with a demo, but really it is best to research the features and pick the platform that appeals to you best that way, rather than by trial and error.
So, what are the most important things you want from your financial trading app?
There are apps from a lot of different companies that offer financial trading, and some companies have multiple apps depending on what you want to trade. ETX Capital, for example, are one of the big trading companies and have separate apps for day trading and binary options. You are best off choosing an app from a well known brand like them, because you will get far better support, and you also know everything is compliant, secure, and above board.
Significant User Community
When a platform has a fairly large user base, bugs are reported more quickly and you get a more reliable service. This is extremely important because you really need your trading app to be reliable and to process your trades dependably. A good user community also means the possibility to connect with other users for advice, help and tips. Again, this usually means picking an app that is connected with one of the big names, where you can join their website’s online community as well as being a user of the app.
When you are using a trading app as a novice trader, you want to understand exactly what is going on, what the status of your accounts is, and how to find the information you need – as well as action trades. Making your first forays into financial markets can be daunting enough without unwieldy interfaces or confusing navigation making things worse. For more experienced traders, apps that make it hard to get to the price information you want or which bury the things you are looking for under lots of sub-menus can slow you down and make trading frustrating. Whatever your level, then, you want an app with a user friendly interface. Look for apps with positive reviews on app websites, and take a look at screenshots and video tutorials to get an idea of what the app looks like before choosing it.
One thing you will need to use a lot is the technical analysis and other insights for your chosen markets. Trading companies present and deliver information traders need in various ways, like graphing suites that add on to the app through to supplementary tools you can use alongside the app, and special member areas on their websites that allow you to be privy to expert insights. It’s down to your own taste and strategy what type of analysis you like, but look for a platform that offers you lots of options and analysis styles. Also, look out for third party tools that can help you even further.
Which app is right for you will depend a lot on what you want to do, but these are important features for traders of all levels and styles.