Table of Contents
Stock market apps are useful tools that allow you to stay up to date with your investments. With such an app, an investor will not miss any opportunity. For the most part, they are easy to use, and all you need to use them is a mobile device and an Internet connection. How to choose a good app for investing and what to pay attention to?
What are stock market apps?
A stock market app is a mobile version of a standard investment platform, which is operated on a computer. An investor can download it to his phone, so he can stay up to date with his trades, as well as other market information. Stock market apps are a good choice for those investors who live on the go and travel frequently, and therefore do not have time to spend a large amount of time in front of a computer.
The best stock market apps – ranking
Beginning investors do not always know which stock market application to opt for. In such a case, it is worth using a ranking that compiles the most popular and best stock market applications. Intermediaries that provide investment platforms have been checked in terms of offers, fees, affordability of the interface and available investment tools. Taking these elements into account, the best stock market apps were selected.
This is a CFD broker that also allows you to invest in real stocks. It has been operating on the market since 2016 and is subject to several financial regulatory institutions, including CySEC and FCA. This gives the investor confidence in the high level of security (read also: Best CFD brokers and What are CFDs).
The broker offers more than 6,000 CFDs on a variety of assets, such as stocks, currencies, cryptocurrencies, commodities, etc., as well as in 7 major financial markets for investing in real shares of companies (read also: Best currency to invest in)
The stock market application from Capital.com has the advantage that you don’t have to pay for commissions on transactions. The broker charges spreads, but these are among the lowest on the market. Also significant is the fact that the trader has 4 base account currencies to choose from, including PLN. This allows him to avoid currency conversion costs. The mobile application for investing is available for Android and iOS devices. It features a clear interface, as well as many functions, such as price alerts. The only downside is that the Android version of the app is more limited.
If a trader is looking for a broker that is affordable for novices and also allows for passive income, eToro may be a good choice. The broker offers more than 2,000 CFDs on a variety of assets, including currencies, stocks, commodities, cryptocurrencies, etc., as well as 14 global markets and the ability to buy real cryptocurrencies.
This stock market app offers no commissions on transactions. The broker charges small spreads, and the amount depends on specific assets. eToro also offers social trading and copy trading features. The first one allows users to contact each other, and thus they can share investment ideas. On the other hand, the second option allows users to copy the stock market movements of other traders. This allows you to earn from their experience without your own input.
The downside of the eToro broker is that it offers only in USD currency. Therefore, before a trader can start trading, he or she must either stock up on US dollars or use the automatic currency conversion available on the trading platform.
The eToro broker’s mobile trading app is available for Android and iOS devices. The platform is user-friendly and has all the necessary features.
This is a broker that offers CFDs and access to the Forex market. It is based in Cyprus and is regulated by the financial institution CySEC. It has been operating since 2014 and allows you to speculate on price changes in commodities, currencies, indices and stocks. You can use the following trading accounts: Classic, Gold, Prime and Elite. The accounts differ in the amount of the minimum deposit, as well as the spreads, leverage, and access to certain instruments.
The Alvexo broker provides the proprietary Alvexo Web Trader platform, as well as Meta Trader 4. Both tools meet the requirements of even the most demanding traders. Of course, a stock market trading application is also available, allowing the investor to trade anywhere and anytime.
It is also possible to use a demo account, which is free, and check out all the features that the platform offers. The disadvantage, however, is that the broker does not provide the ability to buy the underlying instruments.
This broker has more than 20 years of experience, which is regulated by CySEC, so the investor can be sure of maximum security. It offers more than 250 CFDs on various assets, and a separate investment option is real stocks.
Trading commissions depend on the assets traded by the trader. It is worth knowing that investing in stocks and cryptocurrencies are free of fees. In addition, with other assets there are commissions and low spreads, which in some cases are even USD 0.00.
Another advantage of this broker is that it provides 3 base account currencies, including PLN, so the investor does not have to worry about currency conversion. In turn, the stock market application from Libertex is compatible with Android and iOS software devices. It’s worth knowing that the app has received several industry awards and is properly secured.
This is a Polish stock market application. It is an easy-to-use and transparent tool that is supported by Android and iOS. The company that provides it was founded in 2004 and is based in Warsaw. XTB is licensed by the Financial Supervision Commission.
XTB gives access to the largest European and American stock exchanges. Investors can transact in ETFs, trade in Forex and CFDs. It is a trusted intermediary whose services are used by traders from all over the world. What’s more, with the company listed on the Stock Exchange.
The stock market application offers a free demo account so that the user can analyze the features it offers and determine whether it is suitable for him. At the beginning, the investor receives virtual money in the amount of about USD 2,000.
Moreover, this broker provides training materials so that the investor can deepen his knowledge of technical analysis or investment risk.
It’s a stock market trading app, available on both Android and iOS, and allows you to invest from your phone in real stocks, cryptocurrencies, CFD contacts, Forex and ETFs. It is a relatively young app, having been founded in 2017, but it has gained immense popularity due to its security, convenience and ease of use. Even buying stocks is commission-free.
For less experienced people, to whom the app is recommended, several important services have been reserved, such as a free demo account, training, as well as social trading, which allows investors to automatically copy the investment moves of more experienced investors and generate the same profits.
To create an account on Finax, you need to fill out a questionnaire that addresses your investment goals, financial literacy, and the planned length of your investment. Based on the data provided, the system creates either a more dynamic or conservative investment portfolio for the user.
Then Finax buys the right securities for the investor in such a way that the optimal results are generated and the portfolio maintains the right proportions. This is a good solution for beginners (read also: Stock market investing for beginners).
There is also a free Finax stock market app for Android and iOS. It allows the investor to access his account, charts, as well as all settings. Moreover, there is an extensive educational section. The app also allows you to set up automatic notifications.
This is a stock market investment app that allows direct access to major European exchanges, and you can buy real stocks or ETFs with low commissions through it.
When planning long-term investments in stocks and ETFs, this app may be the best solution. It offers as many as 200 free European ETFs, which the investor can trade without commissions. The app allows you to track your performance of stocks and financial markets in Europe, as well as around the world.
In this case, there is no free demo account, but there is also no minimum initial deposit amount. What’s more, registration is free and fast, and there are no investment account fees or any other hidden fees.
In terms of the number of transactions, it is the world’s largest cryptocurrency exchange, which allows you to buy them for different other currencies. It is the best exchange application for investing in cryptocurrencies (read also: How to invest in currency).
With it you can buy, exchange, sell and store cryptocurrencies in your wallet. Payment methods that are accepted are credit card, debit card and cash balance. In this case, no commission is charged, and only a small spread.
The app is free and supported on iOS and Android. It also allows cryptocurrencies to be staked, as well as stored in a savings wallet in many different variants, making it possible to earn interest even when there is a lot of freedom in terms of access to funds.
This is a good application for investing in cryptocurrencies, which features versatility. As a rule, it is an exchange, so the app allows you to trade euros in Etuerum, Bitcoin, Ripple, Ritecoin, as well as many more.
With the help of this app, an investor can monitor the prices of all cryptocurrencies in real time, as well as get access to the latest news on the subject, send cryptocurrencies or receive them from other users, and securely store them in the app.
If the investor wants, he can so use his own cryptocurrency wallet to make payments online, or withdraw his cryptocurrencies and then deposit them into an external physical wallet. On the other hand, with the Coinbase Earn feature, an investor has the chance to earn free cryptocurrencies by watching informative videos.
What are the features of the best stock market apps?
Many novice investors ponder, which stock market app? Choosing the right one is often difficult, due to the large number of offers. For this reason, below is a set of features that a good stock market app should have.
Credibility and security
Whether an investor trades on a computer-based platform or a mobile one, security should come first. For this reason, the broker you choose should operate legally, and be regulated by key financial regulatory institutions. It is also advisable to check in advance what additional security features it has. To be sure of the application’s security, it’s also best to read reviews about it posted online.
In most cases, investors have specific requirements for the assets they want to invest in, such as stocks, commodities, cryptocurrencies. It’s a good idea to make sure beforehand that the chosen investment app makes them available.
The broader the broker’s offering, the better. If the broker has more assets, the better the investor can diversify their investment portfolio. In addition to real assets, the broker should also include CFDs in its offer. These are complex financial instruments that allow you to use leverage and take short positions. However, it is worth remembering that CFD trading carries a higher investment risk.
The cost of trading is one of the key issues when choosing a broker. Fees affect a trader’s potential profit. In the ranking above, there are stock market applications that offer free access to the financial market. The user does not have to pay either for registration or for using the application.
The cost only appears in the form of a spread. In some cases, the customer may hit commissions on the transactions themselves. It is obvious that the best stock market app should be associated with low fees. For this reason, it is worth checking the price list of a particular broker before making a choice.
Mobile applications have special features, in particular, a small screen and secondary support. Therefore, the investment application should be designed in such a way as to provide convenience of use. All the most important functions should be easily accessible.
It’s not just about user convenience. Sometimes when trading CFDs or other financial instruments, a trader needs to make quick decisions. At such a moment, he certainly does not want to waste time searching for the functions he needs. What’s more, it’s worth taking into account that some stock market apps are created more for beginners, while others are aimed mainly at advanced people (read also: Apps for investing in the stock market).
If a trader is interested in technical analysis of price charts, he will certainly care about the tools that enable him to do so. Therefore, before an investor decides on a particular broker, he should check whether his trading application is equipped with such functions. The largest number of analytical tools can usually be found at brokers who target their stock market applications to more advanced investors.
Most brokers set their minimum deposit requirements. Although it is not that important, it can be important for an investor who does not want to lose too much money at the beginning of an investment. For example, in the case of Capital.com the minimum deposit is PLN 100, while in eToro it is USD 50. These are not high amounts of money, so anyone can try their hand. However, it is worth knowing that there are intermediaries on the financial market that require much higher deposits for the initial deposit.
The possibility of using a demo account, on the one hand, allows you to learn without risk, and, on the other hand, increases the credibility of the intermediary. Moreover, it is useful not only for beginners.
Thanks to the possibility to test the functions of the selected application without any obligations, you can facilitate your decision-making in relation to whether it corresponds to individual expectations.
In addition, in the demo version, the trader can try out different investment strategies and see if they are effective. Therefore, experienced traders sometimes return to the demo account to see if the new tactics will be effective.
Methods of transferring funds
When a trader selects an application to suit his preferences, it is also worth checking what methods he can use to fund his investment account and withdraw profits. Most intermediaries provide transfers by bank transfer, as well as by credit or debit card, but with additional options it varies.
In this case, it is not only about convenience and individual expectations, but also the speed with which the funds reach their destination. It is also worth knowing that some payment methods are associated with additional fees. Therefore, the intermediary should also meet the investor’s criteria in this regard. Although payment methods are not that important, they are worth paying attention to.
Stock market applications, especially at the very beginning, can cause some problems. Sometimes, even after several months of use, it happens that a customer will run into such a problem that he will not be able to solve on his own. Then customer service comes to the rescue.
As for the best stock market application, it is available 24/7. What’s more, users have a choice of different ways to contact consultants, such as email, phone, live chat. It is worth checking whether the situation is similar at a particular broker.
This issue is especially important for beginners. If the stock market investment application has a properly developed educational section, the investor can additionally learn and improve his knowledge. Training materials are usually available from brokers who target beginners. Most of the most popular brokers provide their clients with training materials. It is worth using them, especially when more complex financial instruments, such as CFDs, are to be the subject of investment.
Alerts allow investors to stay abreast of what is happening in the market. Alerts on important events will allow quick action, such as opening or closing important trading positions.
Alerts often determine losses as well as profits, so it is worth making sure that the chosen trading app will offer such a function.
Price alerts are also important. Demand and supply affect market prices. Whether an investor buys or sells an asset is determined by price changes. The stock market application that an investor chooses should be equipped with such notifications.
These allow an investor to effectively analyze short-term price movements. This is also one of the key starting points when it comes to determining whether it is worth starting or ending a trade.
How to create an account in the stock market app?
An account on the app can be set up easily and quickly, and the whole process takes no more than 10-15 minutes. Below is a step-by-step guide that will take the investor through the entire registration process, right up to making investments.
Step 1 – registration
Go to the website of the broker of your choice, such as Capital.com, and click the “trade now” button. Then a new window will appear, in which you need to enter only your e-mail address and password. Then you have to click “continue”. The broker may ask you to fill out a short questionnaire and then you should follow the instructions. Registration can also be done with a Facebook, Apple and Google account, if the potential investor has any of them.
Step 2 – account verification
Capital.com, on the basis of which the verification process is presented, is a regulated trading intermediary and is under the supervision of state institutions. Therefore, it is obliged to verify the identity of its customers. Therefore, in the next step the user is supposed to send the broker scans of such documents as:
- Proof of identity,
- Proof of current residence, such as a bank statement with information on current address.
- Once the broker’s employees confirm the user’s identity, all functions will be unlocked and he will be able to use the application to play on the stock market without any problems.
Step 3 – download the application and practice on a demo account
After setting up and verifying the account, the trader can download the application to his cell phone. This can be done in either the Google Play store or the Apple Store, depending on the operating system on the mobile device. The next step is to launch the application and log into it.
Even before the investor deposits money, he will get access to a demo account. It is worth using it for investment risks and liabilities, to try out all the features that are available from the broker. The demo account also allows you to test the application, as well as the trading of stocks and CFDs itself. The investor then uses virtual money, so if the transaction turns out to be wrong, he will not lose anything.
Step 4 – depositing funds on deposit
If a trader wants to start real trading, all he needs to do is deposit money into his account. To do this, he needs to go to the “account” tab, then “payments” and finally “withdraw funds”. In the window that appears, he needs to enter the amount of the transfer and choose the method of money transfer, and finally approve his decision. When the funds appear in the investment account, the user can start trading.
Step 5 – investing
The next step is to select from the available range of financial instruments the asset that interests the investor. Once there is a new tab where the investor can see a real-time price chart, as well as a little lower buy and sell options, as well as a box with the amount of investment. Then choose the amount of the transaction, and then click the “buy” button. This makes it easy to take possession of the asset.
What’s more, if the user scrolls a little lower, he will find more detailed information about the asset, which will help him make more accurate investment decisions.
Advantages and disadvantages of stock market apps
Before an investor makes the right decision and decides on the app of his choice, he should learn both the advantages and disadvantages of this type of solution.
Advantages of stock market apps
Among the benefits of using a stock market application are:
- Safety – stock market apps are regulated, making them safe. Access to the platform using a phone is associated with a high level of security compared to web browsers,
- Free access – stock market applications can be downloaded completely a free. However, if the online platform charges any fees, you will also have to pay a set amount for using the application. The amount of the minimum deposit that applies to the selected platform is the same as for the use of the application. The identical rule applies to commissions, spreads and other fees and costs,
- News and tools that are available at hand. If an investor does not have time for traditional trading, a stock market application will be a good choice for him. It allows him to save time and be sure that no opportunity will be missed,
- Access to features up-to-date on the computer trading platform. A stock market trading application usually provides access to the same functions as a traditional platform. The only difference is usually the layout of the interface, which is adapted to different screen sizes (read also: Stock market simulator).
Disadvantages of stock market apps
Like everything, stock market earning apps also have their drawbacks. These can include:
- Some are not up to par with the classic computer version – an investor should carefully choose stock market apps. Some offer only basic functions,
- Fees – no matter which app a customer chooses, he has to pay taxes on any investment. Short-term options are taxed higher than other capital gains. Some investment apps may automatically charge the investor’s profits while advertising themselves as commission-free. Other apps also charge an interest margin. In a situation where a broker offers to trade so-called borrowed money, it is worth checking how much the annual interest rate is on this type of loan.
How to use a stock market application effectively?
A stock market listing application can significantly increase the effectiveness of an investor. A beginner will certainly find it useful to have a few tips on how to effectively use the opportunities offered by a stock trading app.
Daily tracking of current financial news
Every investor should keep up to date with everything that is happening in the market. A stock market app for Android or a stock market app for iPhone will help him in this task. All important data will be visible on the investor’s phone.
Use of social trading functions
This type of function has, for example, the eToro stock market application. It allows you to see the transactions of other investors. In this case, you can copy the actions of more experienced investors. Thus, you can learn from the best and achieve better and better results.
Configure the interface according to your own preferences
Most stock market applications allow any configuration of the interface. The investor should set the products that interest him at the top of the list, which will save him time.
Enable price change alerts and customize them according to your needs
Stock market trading apps were created for people who live on the go and want to keep up to date with their investments. However, if a trader doesn’t have time to keep checking the quotes, he should turn on alerts that inform him of important changes. This way he won’t miss any new information.
Use educational materials and a demo account
Many mobile apps offer extensive training sections and interesting educational materials. It is worth using them to supplement your knowledge of the stock market and investing. A demo account, on the other hand, will allow you to test the app, your investment strategy, and also allow you to gain new experience.
Small amounts to start with
At the beginning of the investment, it is best to make a minimum deposit and start implementing your investment strategy. Once the investor makes his first profit, he will be able to gradually increase his investments (read also: How to invest small amounts of money).
Sticking to your strategy
Discipline is the key to success in the stock market. It is best to stick to your strategy and not react to insignificant and temporary price fluctuations. Above all, you should also not start trading if you do not have a clear risk management plan.
Learning to control your emotions
Fear and greed are an investor’s worst advisors. Emotions make a trader want to close or open positions at the wrong time. Professionals and experienced investors are able to keep a cool head when others succumb to emotions. Because of this, they can enjoy higher profits.
Stock market apps – FAQ
Below is a list of frequently asked questions that relate to stock market apps.
Do stock market apps provide the same features as traditional platforms?
Stock market apps have been developed to provide access to the same functions that the computer version provides. However, it is worth preparing it that the layout of the platform may be slightly different. Intermediaries must take into account the differences in screen size between a computer and a mobile device. Besides, all other functions, which include charts, orders, stops, losses, etc., should work the same way.
Is it better to use stock market apps or trade on traditional platforms?
The choice depends on the individual trader’s preferences. If he is a person who likes to work on a big screen, at a computer, then most likely standard trading will be the best option for him. On the other hand, if the person is an active person who moves around a lot during the day, a smartphone trading app will be a better option.
Which stock market apps will be suitable for beginners?
One that is easy to use and has a user-friendly interface. In the beginning, it is best to opt for an app that is not heavily developed, but it is also worth checking online reviews of the chosen platform. Security and wide access to financial instruments are also important.
Are stock market apps free?
Downloading and using a demo account in most cases is free. Only making transactions and investments may incur additional fees, depending on the broker you choose.
Are stock market apps safe?
Trading apps are regulated and safe. The mobile version does not expose investors to as much risk as the web browser version. However, it is worth remembering to choose only reputable providers.
Stock market apps are useful tools for investing, and choosing the right one is important if an investor wants to comfortably as well as effectively make money in the financial markets (read also: Basics of investing in the stock market). The most important criteria to consider are security, low fees, a wide range of financial instruments and a wide selection of investment tools and additional options. With the right application, mobile listings will improve the investor’s earning potential, as he will get the opportunity to invest from anywhere in the world.