The world of trading has experienced a paradigm shift in recent years. A growing number of brokers are offering trading apps these days. This has made retail trading more accessible than ever before.
But what should one look for when trying to decide upon a trading app? App stability, security, the ability to trade in real time, risk management and charting are just some of the features you should look for when choosing a trading app. Our article below will help you better understand the world of mobile trading.
Do trading apps provide a full trading experience?
Most brokers these days design mobile apps to offer as full a trading experience as possible. Your trading app should offer a range of trading analysis tools and resources. Charting, risk management and the ability to track live trades are also available. A good trading app will also allow you to fund your account and withdraw funds from your mobile device. Above all, you should be able to open, close and track your trades from your mobile device. You should also be able to access real-time pricing data from your mobile device. All you need is a secure network connection and you can begin trading with your mobile app. A good app will let you track live trades even when you are on the move.
Do mobile trading apps offer the same range of markets as desktop platforms?
Using your mobile trading app, you should be able to access the same range of markets as your online trading platform. Most apps available in the market these days offer live pricing on a wide range of global asset classes. These include indices, currencies, commodities, treasuries and thousands of globally-listed shares.
What are the Charting tools available?
Using your mobile app, you should be able to access live charting on any instrument you wish to trade. A lot of reputed trading apps also offer the ability to trade through charts. Charting analysis, as well as a wide range of risk management orders, are also available. These include stop-loss orders and guaranteed stop-loss orders. You can also place and amend limit and take-profit orders. Some trading apps offer advanced technical analysis tools. These let you analyze price trends and patterns to identify potential entry and exit points.
Signals and notifications
A good mobile app should also offer real-time market data. You should have the option to be kept up-to-date via notiﬁcations and alerts. Push notiﬁcations will help you stay on top of breaking news and major market events. This feature will help you make informed decisions on the instruments you invest in. Other important features include the ability to create watchlists and price triggers.
So, what do you really look for in a Trading App? With all the creative and detailed Trading apps within our reach, the things that you may to have to consider before choosing the right app is an App that is stable and not only secured but would also give you easy access of all the tools and updates you needed even if you are on the move. No matter what you choose, always consider the pros and cons before you start trading with any App.