Best Apps for Trading
With the modern mobile technology available today, individual investors can pursue day trading, pick up penny stocks, or direct their long-term trading options through easy apps installed on their smartphones.
We’re a long way from the days when you had to pick up a phone and call a broker, although it wasn’t too many years ago that most people were having phone conversations to buy or sell. Now, these popular mobile apps are changing the game when it comes to controlling wealth – from high-powered executives to individuals consumers, those who are interested in the market are making plays in real time from anywhere they happen to be.
The new Robin Hood trading app is one of the most talked about offerings on today’s market. It’s billed as an easy trading tool for beginners, but its biggest feature is betrayed by its name — unlike other trading apps, Robin Hood promises no-fee trades. The users trade with zero commission, and that’s part of what has brought users flocking to this mobile platform.
Simply link Robin Hood to a bank account, and you’ll get a fully functional dashboard for making purchases, tracking positions and much more. This guide from Business Insider provides a detailed view and guide on how to use this app effectively.
Its makers say Stocktouch is a “must have for anyone who cares about the financial markets.”
One of the biggest plus sides of this particular app is its visual layout. Instead of displaying one stock ticker on a full screen, Stocktouch offers a screen showing each individual stock as a tiny blip in a colored field of dots. Users then click in for more granular information – the versatile screen layout really provides functionality for getting from a broader market to an individual stock option.
The StockTwits app is a little different than its peers — instead of being focused on trading functionality, this Twitter-oriented application allows users to get up-to-date messages on what’s happening in the market. For a kind of public forum on trading, beginners and anyone else can quickly get locked into conversations around specific market offerings, and get more informed about how to get positions.
E-Toro offers trading programs for both web and mobile. Available for both Apple and the Android platform, E-Toro provides dashboard views of market context for a stock offering, with easy buttons for sell points and other data points.
When it comes to tools from popular trading houses, lots of investors are using TD Ameritrade Mobile.
With real-time indices, buttons for balances of positions, and market summaries, this is another trading tool that users can take advantage of straight from their smart phone touchscreen.
One of the most photogenic babies in the world can’t be wrong — so a lot of people are also using E-Trade’s mobile app to keep in touch with the markets.
This app has mutual fund research tools, enhanced quote details for products including exchange traded funds, and the ability to place stop-loss orders. An available dashboard shows portfolio performance, open orders and more. Manage accounts on the move with customizable portfolio displays and transparent gain and loss information.
Not to be outdone, Fidelity offers a tool taking advantage of the popularity of its online platform. Fidelity Mobile borrows a lot of the advanced functionality of the website, with easy funding and trading options. Get access to performance and accounting tools, and trade into and out of a core account with ease. Check out individual equities as well as ETFs and other sorts of products from a central mobile brokerage hub.
Another big investment house with its own mobile app is ScottTrade. ScottTrade mobile users can take advantage of seven dollar trades, or access their accounts from mobile or web platforms, or go to any of many locally available brick-and-mortar locations.
Take advantage of any of these popular trading apps to break into the market and keep making consistent plays in dynamic industries. With the mobile technology we have today, it’s easy to really know your stock purchases and track them over time, and to get in and out of positions within a given market day.