TOP ONLINE TRADING APPS OF 2021

What are Trading Apps?

Trading apps are used for trading stocks, bonds, commodities and other financial instruments. Most trading apps are iPhone/iPad applications that allow the user to trade items through brokers while visiting other locations.

Trading apps can be associated with brokerage houses or traded out of one’s home. Trading apps are becoming increasingly popular because they do not require constant attention from the trader when in use. They also enable traders to make trades in smaller increments than traditional full-service brokerages. The Wall Street Journal cites Fidelity Investments as releasing a trading application in 2011 allowing investors to make stock trades for $7 per transaction using an Apple iPad 2 without requiring a fee from their customers.

Fidelity does not charge its any fees directly but instead requires customers to pay a fee to either their broker or their online broker.

Benefits Of Trading Apps

Trading apps offer many benefits over traditional brokerage services, such as:

  • Ability to make trades while away from full service brokerages.
  • Allow the user to make smaller transactions than with full service brokers.

Top 10 Trading Apps

These are the top 10 trading apps you can download on your mobile

1. Stock Market

Stock Market is one of the most powerful Android application for tracking and organizing information on financial world. It provides quick access to more than 10,000 stock exchanges around the world.

2. Wall Street Survivor

This is one of the best free stock market apps which allow you to track stocks, currency rates and commodities in real time. You can save up to 25 different portfolios and get live prices on more than 100 currencies. Additionally, it also supports futures and option trading with its special features like Options Insight and Futures Insight.

3. Yahoo Finance

Unlike other finance apps that just offer quotes or headlines, this app offers a full range of data about companies that let you make your own decision whether they are worth investing or not. It provides a simple and intuitive interface that is easy to use on a mobile device. You can get live stock quotes, watch lists, portfolios, charts, news from Yahoo finance platform.

4. News360

This app provides more than 10 million articles from over 3,000 sources including business magazines and newspapers so you can stay updated with current market trends. News360 also gives you the option to customize your own news feed by selecting topics of your interest for reading related stories.

5. Bloomberg

The official Bloomberg terminal application for Android enables users to watch videos of worldwide markets on their smartphones and tablets directly from company’s website or YouTube channel. You can monitor personal portfolio as well as create price alerts for specific tickers.

6. Google Finance

The app offers full access to finance information on the go including financial news, tools for tracking stocks, currencies, commodities and mutual funds in real time.

7. My Portfolio

This application is a personal finance tool that helps you track your income, expenses and bills along with bank accounts so you can find out where all your money goes every month. It also allows importing data from banks or credit cards providers to keep everything up to date.

8. Investment Calculator

Investment Calculator gives you an insight into how different investments perform over a period of time by providing both the annualized growth rate as well as actual return figures. You have option to compare results based on different months or years which makes it easy to track the comparisons.

9. StockTouch

This app provides virtual portfolio consisting of 5,000 stocks from all major U.S. exchanges. It gives you information on earnings per share, outstanding shares, Beta ratio which are important financial ratios for analyzing company’s stock price performance.

10. Delta

Delta is best suited for day traders who want to track individual stocks along with market indexes and other currencies in real time. You can set up alerts based on specific companies or your portfolios so that you will be notified whenever there is a change in their value.

Cons of trading apps

Many times they will not have access to real time quotes when traders are operating without wifi or data capabilities. The app usually has limited features when in an area where it does not have internet access. Another disadvantage is that there can be a significant lag between the time that a trader makes a trade and the time that it is available for viewing on the app’s terminal. This slight delay may cause traders issues in knowing if their trades succeeded or failed.

Other cons involve the inability for traders to directly view local news and to not have access to certain account features that often come available with full services brokers such as:

  • Retirement accounts; and
  • Stock trading.

Despite these disadvantages, trading apps are very useful tools for users who understand how to manage them and use them correctly. They can be used anywhere a wifi connection is accessible, making it easy for anyone who wants the freedom of mobility when conducting stock market transactions.

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