The world of trading and investing has been transformed over the past decade with the rise of smartphones and trading apps. These powerful and intuitive apps have made trading and investing more accessible than ever before. In this post, we’ll explore 10 key features of top trading apps and how they are redefining finance and trade.
Democratising Access
One of the biggest impacts of trading apps is that they have democratised access to financial markets. In the past, trading required a stock broker and often had high barriers to entry like high account minimums. With trading apps, anyone can open an account with no or low minimums and start trading stocks, options, cryptocurrencies, and more from a smartphone. Trading apps have been instrumental in giving the average person access to advanced trading capabilities.
Real-Time Market Data
Trading apps provide users with real-time streaming data on market prices, news, charts, and more. This enables traders to have their finger on the pulse of the markets at all times. Apps are directly connected to live market data feeds for up-to-the-second info. Seeing real-time data versus delayed info is crucial for acting quickly on breaking news and price movements.
Intuitive Mobile Interfaces
Unlike clunky old trading platforms, apps have intuitive and responsive mobile interfaces optimised for smartphones and tablets. The streamlined designs make checking portfolios, executing trades, analysing charts, and managing orders easy while on the go. Features like swipe trading, touch ID login, and notifications keep the mobile experience smooth.
Advanced Charting and Analysis
Serious traders appreciate the advanced charting and analysis capabilities packed into online trading apps. Apps allow traders to customise charts with technical indicators, draw trendlines, use advanced order types and more – all on a mobile device. Robust analysis helps traders spot opportunities and enhances informed decision-making.
Customisable Push Notifications
Staying up-to-date on market moving news and your portfolio is easy with customisable push notifications. Trading apps allow users to select alerts for price movements, news events, changes in holdings and more. The notifications pop up on a user’s phone just like a text message or email. This keeps users engaged and informed in real-time.
Paper & Virtual Trading
An interesting feature of many trading apps is that they offer paper trading or virtual trading capabilities alongside real money trading. Paper trading allows users to practise trading stocks or options in a simulated environment with fake money. This helps new traders learn the ropes before putting real capital at risk. Seasoned traders also use paper trading to test new strategies.
Social Trading Capabilities
Trading can be isolating, but trading apps help add a social element back through features like sharing trades and strategies, copying other successful traders, and more. Platforms like eToro pioneer social trading by letting you automatically copy top traders. Other apps have community chat rooms and feeds for idea sharing.
Educational Content & Courses
The best trading apps recognise many users are new to investing, so they incorporate lots of educational content to help get users up to speed. Some apps offer entire courses on options trading, technical analysis, fundamentals, and more. Interactive courses, videos, webinars, and guides teach the nuances of trading to create informed users.
Cryptocurrency Trading
While stocks and options trading apps have gone mainstream, many leading apps have also incorporated cryptocurrency trading like Bitcoin and Ethereum. Access to these volatile digital currencies in one unified app along with traditional assets has attracted many new users. Robinhood helped pioneer crypto trading apps and now most players have followed suit.
Advanced Security Features
With money and personal data at stake, trading apps place a premium on security. Leading apps use bank-level encryption, secure login, and real-time fraud monitoring. Some even offer insurance to cover user losses from criminal activity. Prioritising state-of-the-art security helps keep user funds and info safe.
Global Market Access
Top trading apps allow users to access financial markets across the globe all from one platform. Investors can diversify their holdings by trading stocks, currencies, commodities, and more from exchanges in Asia, Europe, North America, and beyond. Apps are breaking down geographic trading barriers.
Powerful Automation
Sophisticated automation takes apps to the next level. Traders can set up automatic deposits, dividend reinvesting, portfolio rebalancing, order bracketing, loss harvesting, and more. Automating repetitive tasks allows traders to implement discipline while focusing energy on analysis. Intelligent bots even allow mimicking top traders’ strategies.
Lower Fees than Traditional Brokers
Trading apps help cut costs by eliminating traditional broker middlemen. Low or zero trade commissions and account minimums translate to higher returns. Automation further reduces manual labour costs associated with investing. The savings empower traders to keep more of their capital working for them in the markets.
Trading apps have placed sophisticated trading capabilities right in your hand. Their real-time data, advanced analysis, paper trading, and security features are redefining finance and levelling the playing field for investors. Although apps carry risks, they enable more people to reap the rewards of the markets. With a world of opportunities at your fingertips, it’s an exciting time to become an app-enabled trader. The power is now in your hands.
