Best Mobile Trading Apps 2018
Best Mobile Trading Applications For 2018
One of the best parts about living in the 21st century is just how connected people can be thanks to devices like tablets and smartphones. It used to be that having an Internet connection and access to various websites, software and services meant needing a computer that was more or less permanently installed in an office. And while we still use those devices every day, we have much more portable devices that give us the same power and versatility in much more convenient platforms.
Because of this, we’re now able to do things like communicate with friends and family, catch up on the news or even do our banking, trading and investing while in a car, at a party with friends, or even on vacation on the other side of the world. That’s opened up a wealth of opportunity for people that want to get involved in trading and investment but don’t want to do it the old fashioned way. Now, with various types of trading apps and other related software, you don’t have to! But which ones are the right ones for you? That depends on a lot on what type of financial goals you have.
We’ve put together a list of recommended apps that we think traders would benefit from for a variety of reasons.
In the business world, knowledge is power, and what you don’t know can definitely hurt you, or, at the very least, cost you. This is why staying informed is so important. One of the best ways to stay informed is to follow one of the many business-focused periodicals around the world, and Bloomberg is one of the best, especially for English speakers.
The Bloomberg app is useful for a number of reasons. Users get important financial news, which helps to make informed business decisions. However, users will also get a digital “stock ticker” of stock prices. This can be customized specifically to focus on assets of interest, so this combination of actual financial news with real-time updates of stock performance is a great aid for making decisions on how to conduct business and trades.
Like Bloomberg, this is another media outlet with a focus on business. However, it’s important to note that you should never get all of your information from just one source. So while we’d recommend Bloomberg, other outlets, like CNBC and, of course, older established periodicals such as the Wall Street Journal, are invaluable. However, what separates the CNBC app from others like the Wall Street Journal and Bloomberg is the additional video content.
Because CNBC is a broadcast outlet, in addition to text-based financial news, as well as updates on stocks with stock tickers, users also get news programming. The CNBC app is a great way to catch up on actual broadcast news, including any favorite programs you might have, so you can keep up to date on the go.
Stock Market Simulator
As the old saying goes, “practice makes perfect,” and one of the best ways to get better at trading in the stock market is to actually start trading. Of course, losing money makes this a prohibitive activity, but with practice software like Stock Market Simulator, this takes all the sting out of learning, and allows you to take all the chances you want, and make all the mistakes you need to, and learn from the experience without getting financially wiped out.
This app allows people to play with up to $10000 simulated dollars, making trades on the stock market using data that is updated every 15-20 minutes. So while that is not quite, real-time, up-to-date data, it’s enough that you can make your trades and see the results.
For people that are familiar with the musical instrument simulators of years past like “Guitar Hero,” TradeHero is a similar premise. Instead of a real-world, up-to-date simulator, this learn app takes place in an entirely fictional, simulated stock market. However, the twist here is that other traders are also connected and playing.
This adds an edge of human competition, communication and learning that Stock Market Simulator doesn’t provide. So for people that want to learn how to trade, but do so in a more competitive—but still financially safe—virtual environment, TradeHero is a great option.
People who are new to trading and want to do it in small ways may want to consider this trading app. It requires a monthly subscription fee, but in doing so, traders get access to a very simple, easy to use system that can teach you the things you need to learn for proper trading in smaller amounts.
This is definitely not an app that more experienced traders will like since it simplifies and streamlines many things, making it more difficult to trade in a nuanced way. But for people that want safety and just want to learn how to invest small amounts in things like index funds chosen by an expert, this is a good way to get your feet wet in trading. Click Here
For people that want to start trading a little bit more seriously, TD Ameritrade is the next step up. Trades here will cost about $6.95 per trade, but for casual and slightly more serious investors, this is a great piece of software. The app comes with up-to-date business information, allows for fund transfers and, for an extra bit of fun, has a feature called “SnapStock” that lets users scan the barcode of a product in front of them and get an introductory run down the company that produced the product and its stock information.
Ameritrade gives you a complete run down of business news, including CNBC, but also includes tracking data for traders of many interests, including equities, options, futures and even Forex. This is a good way for people who have graduated from practice and smaller trades to take the next step up. And once you’re ready, this combination of apps is a good way to move into much more complex, larger scale, more ambitious trades, like binary options.
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