Since I started trading in 2020, I have come across numerous trading apps hat claims to be the best trading apps in the financial market. If you run a search on Google for “the best trading apps” you will see different search results with all of them claiming to be the best trading app. But with my years of experience in trading forex, stocks and futures, I have come across and used different trading apps. And today I can tell you there are a lot of junk apps out there claiming to be the best trading apps. I have tried many of them and found out some of them are just junks while some are grossly overhyped.
With your permission, I am going to reveal to you the best trading apps in the financial market. I will also enlighten you on what to look out for when you want to choose a trading app. This post is composed based on my experience with a lot of trading apps. The pros and cons have been taken into consideration when compiling this list.
Features of the best trading apps
For an app to make it into the list of the best trading apps, there are certain features or criteria which the apps are expected to pass. We are going to look at some of these features or criteria:
One of the essential features a trading app need to have before it can be said to be one of the best trading apps is real-time updates. It market prices for assets, financial quotes, and financial news, among other things, must be up-to-date with current market analysis. As a trader, you will not be successful with trading if you are using a trading app that is lagging in giving current market prices quotes of assets, financial market news
and the rest. It is essential that a trading app has an up-to-date price quote, asset quotes and economic news.
Trading educational resources
Another criterion that I use to access an app to know if it is one of the best trading apps is trading educational resources. A good trading app must have trading educational resources a trader can seek help from if he or she is having difficulties understanding the trading platform or some trading terminologies. This feature is especially beneficial to beginners who are still trying to know their way around trading. With educational resources, a trader can carry out research on an asset right from the trading app without having to leave its interface.
Having listed out some of the criteria used in accessing if an app is one of the best trading apps in the financial market today. We will now look at some of the best trading apps in 2020
NetDania Stock and Forex Trader
NetDania stock and forex trader is classified as one of the best trading apps in the financial market today. It is very highly rated among traders in the financial globe and is a preferred choice of a trading app by most traders because of its versatility. One attribute I enjoy about this app is that it gives traders access to real-time interbank rates. One other essential feature of this app is that it provides up-to-date price quotes on assets. With the app, you have access to live streaming of charts, and market news directly from the Market International and FxWirePro. A vital attribute of this app that traders can utilise is its ability to give traders the freedom to set price or current trends alerts on their preferred assets. Also, they can personalise the menu for their desired new and quotes.
The trade interceptor is currently one of the best trading apps available in the financial market. Trade Interceptor has gain popularity among traders because of its ability to provide traders with a lot of available options. Traders can trade different assets all at once. It also provides traders with access to analysis and technical tools. Trades can choose from over 100 technical indicators.
One feature that traders love about Trade Interceptor is that traders have access to live stream of price quotes and chart quotes. Traders also have the option of setting alerts for new release and price level of assets.
Traders also get the privilege to access the Daily Economic News calendar as well as real-time market news. It also allows traders to do demo trading and backtesting of trade techniques by applying their knowledge of price data. This attribute is beneficiary to beginners as well as experienced traders.
Bloomberg business mobile app
Bloomberg business mobile app is an excellent and popular app among traders in the financial market. It is a subscription-based trading app that gives trades access to numerous options to users. But for a trader whose main aim is to access real-time updates on the latest market news, then the basic app is enough for you.
With Bloomberg business mobile app, traders have access to global financial markets. They can obtain business news, price of assets, and tools to monitor their portfolios. The app menu is personalisable. The WatchList feature ensures traders can follow and examine their market positions and charts. It also has a TV feature which users can take advantage of this.
Another good trading app is thinkorswim mobile from the stable of the reliable broker TD Ameritade. It gives Ameritrade customers the freedom to trade different kinds of assets. Another critical feature of thinkorswim is the live stream option. With this, traders have the privilege to live-stream technical charts and even have the opportunity to create chart tools by themselves with the help of the app.
It offers traders up-to-date business and financial news. It users can also live stream CNBC broadcasts. It also affords users the ability to monitor trade positions, make order deposits. It can be used by active traders to make changes to their trade orders and alert preference.
Thinkorswim has an inbuilt myTrade Community feature that gives users the option to communicate and interact with other traders. It also has a demo which traders can use to test their trading techniques.
Like I said earlier, there are a lot of trading apps out there in the market. But most of them are not reliable, and some are a complete waste of your time and resources. But due to my trading experience, I notice that some can be classified as the best trading apps in the market today. I have listed some of these trading apps in this article. Feel free to explore them and give your feedback in the comment section of this post.