A trading app is a mobile friendly software, specifically designed to be suitable for its use on smartphones and tablets. However, this is the definition of any app, so, specifically a trading app allows the sale and exchange of shares (i.e. fictitious values attributed by the market to shares) in order to earn on the fluctuations of the market itself, which in this context is extremely variable. There are several apps, in this guide we aim to analyze the best ones.
Most famous trading apps: pros and cons
Among the apps that we analyze here are: eToro , Capital.com , Trading212 and then Plus500.
We will describe the pros and cons, to help you better orient yourself in this area.
1. eToro
Although the promised benefits may seem too many at first, to the point of being suspicious, it is all true. For this we can say that the application is, hands down, this is the best trading app we’ve reviewed. Here’s why:
eToro’s pros:
✓ It is also possible to invest for those who do not reside in the United States, by doing so through leverage
✓ The platform is strictly regulated by FCA and ASIC
✓ There is a system called “copytrading”, where you can copy the investments of the most successful traders
✓ There is no commission on the exchange of shares or on their purchase and sale
eToro’s cons:
✓ It is not particularly suitable for the more experienced: here it is not possible to carry out technical analysis of market fluctuations
2. Capital.com
We can say with certainty that when it comes to CFDs this application is among the market leaders, it is essentially real-time tracking of asset prices. We can define it as an excellent application. Here’s why:
Capital.com’s pros:
✓ Trading in this case will be available shortly 24/7, with no limits
✓ It’s among those who lead the trading industry through their spread
✓ The phone application is very clean both in terms of interface and speed of operation
Capital.com’s cons:
✓ In case you make a deposit directly from your bank account, the minimum is $ 250
3. Trading212
The main advantage of this app is that it carries free stock on different operating systems, especially both Android and iOS. This is a decent trading app, and it’s not bad at all. Here’s why:
Trading212’s pros:
✓ Regardless of the stocks you buy or sell, including forex, there is no commission to pay
✓ Unlike other platforms, there is no minimum deposit
✓ Clients using this platform exceed 300,000
Trading212’s cons:
✓ Tools for analyzing your sales are limited
✓ It is not particularly popular as an application
4. Plus500
The main strength of this app is the fact that it is user friendly, due to its very clean interface and its extreme intuitiveness. Among all it is the one that we would use least, however it also has its strengths. Here’s why:
Plus500’s pros:
✓ This trading platform is heavily regulated by brokers
✓ CFD instruments are varied, around a thousand
✓ The minimum deposit in this case is low around $ 120
Plus500’s cons:
✓ Traditional assets are not offered here, as is the case on other platforms
We have only analyzed some of these apps, but it is important in this field to always keep up to date with the latest news. In case you want more financial literacy, we strongly recommend this site to get you started: here you can find the best stock trading app UK.
How does a trading app works?
One of trading takes advantage of the convenience offered by a tablet or a phone to allow the operator to be always connected to the online trading market and keep an eye on a drop in the share prices of a certain asset, thus proceeding to their purchase. When the prices then rise again, the trader will sell the shares making money with them, then they will buy other shares by repeating the process. The ultimate goal is obviously to get rich through these sales and purchase cycles.
What are the risks of a trading app?
The extreme fruitfulness of the stock market is balanced by the volatility of the market itself: prices can change suddenly, shares can lose value in no time at all, leading to the loss of one’s capital. At the same time, the financial market offers a huge amount of potential gains, which may be able to change your life and perhaps that of your family as well.
Final thoughts
Our main advice is always to invest only what you could afford to lose, keeping in mind that the profits generated through a trading app like eToro, which we recommend much more than all the others could really change your life and provide you a second salary certainly higher than that of your main job.
