Day trading apps are on the rise and nearly every online broker pours money into the creation of them for smartphone gadgets. They are no longer all about viewing portfolios and doing simple trades. Today’s top devices promise to offer you the full 360 experience, ranging from advanced order forms and comprehensive charting, to robust options and a range of sophisticated trading instruments. There are also practice or simulator apps for beginners seeking to try trading.
This page explains what to look for in a mobile trading app, plus a list of the best intraday trading apps to trade. You’ll also get a rundown of the various apps available, for Android and iOS, plus practice app advice, as well as beginner recommendations.
What To Look For in an App
Effective apps will improve your trading experience and help you make accurate, educated trade decisions. Below are a few important items that you should be searching for in your app:
- Features – You need an app that will give you all the important details you need. So check that you get market forecasts, charts, trends, news reports, plus tickers for regular stock prices.
- Simple to use – When you’re an intraday trader, every second counts, so make sure the app is simple to use. You need to be able to easily define and apply the main details.
- Concise – The best apps give you enough information to lead you to the right trade, but without bombarding you with too much info that would force you to make impulsive choices.
- Reliability – If you’re about to enter or exit a position, you don’t want the device to crash. First, check feedback to ensure it’s accurate, reliable and up-to-date.
- Price – Many brokers offer applications that are free. So, if the broker charges you for use of the app, verify that you are getting additional features. That being said, when selecting a broker, a free app shouldn’t be the deciding factor.
- Safety – Trading apps have millions of users and have billions of pounds handled. This makes them an enticing proposition for hackers. IOActive, the security company, checked twenty-one of the most common applications, and found that four were vulnerable to hackers. You don’t want to lose your hard earned capital so first check reviews for information about security.
A good day-trading software should have ticked all these boxes. If in any of these areas the app that you are considering falls short, think twice.
App Reviews
And now you know what you need to look for. But, what applications would you select with so many options out there? We’ve collated some of the best apps available today to make the decision a little easier.
IQ Option
The mobile app IQ choice features a sleek user face and a smart mobile interface. You can trade in all of the most common fx pairs, plus the top three cryptos – bitcoin, ethereum, and litecoin. But what really distinguishes the app from others?
You benefit from lightening fast speeds of execution. This is an absolute necessity if you want to optimize profits, as every second counts in an intraday trader’s life.
You are getting invaluable 24/7 customer service. A technical issue will cost you valuable time and significant income. That’s why you get help in 19 languages, so, whatever the question, you still have someone to talk to.
IQ Option Trading App: Screenshot
FxPro
If depth and specialized tools are high on your list of priorities then FxPro will tick those boxes. You get a smart and easy to use mobile app in addition to the multi-asset features and competitive pricing.
The advanced charting functions and technical indicators are one of the main standout features. Instead of being difficult to use on a small, mobile device, it’s quite easy to adapt and customize your chart to your needs.
You may also use the feature of a split-screen. This helps you to display a chart on one screen, as well as all your trade details. The cherry at the top is the single tap order execution to ensure rapid trade. All of this makes it a top contender for the best trading smartphone application.
FxPro App: Screenshots
BinaryCent
It’s easy to see why BincaryCent is considered among the best apps for trading. It provides three distinct perks.
Firstly, trading is available 24/7, which offers you enough opportunity to perfect your trade. Second, when you do not have a lot of money to start with, it’s affordable. The total deposit is just $10, with min. trades of only 10 cents. Lastly, you get 24/7 customer service through chat, calls, and texts, giving you a secure, day-round service blanket. All of this makes them one of the best free apps around.
Plus500
Plus500 now provides one of the best applications for intraday trading after substantial investment. If you are looking for leveraged CFDs to be traded, you have cash, fx, indices, commodities, cryptos, ETFs and options available. But apart from the choices, why did 104,432 new traders in 2016 jump on Plus500?
The fact that in less than 5 minutes you can open a free unrestricted trial account has certainly not hurt the app. Perhaps it’s the fact they charge zero fees and offer access to all the leading stock exchanges including NYSE, Euronext, LSE and more.
The app also comes with a safeguard against negative balance, meaning you can’t lose more than your account balance. In addition, you have access to a multitude of real-time charts, and you can finance your account with credit and debit cards, and PayPal as well.
AVA
AVA is yet another increasingly common phone app for trading. In addition to a host of commodities, you can exchange fx, indices and stocks. The software is available to both iOS and Android users. AVA has optimized the software so it takes no time to install and configure.
After you have set up your app you can either register for a live or demo account. If you opt for fx pairs, the flexibility of up to 200:1 on big pairs can be advantageous. Perhaps the highlight, however, is access to learning opportunities. You can take advantage of hands-on fx and CFD training offered by seasoned traders willing to share their trading tricks.
As all the apps that made this list, you’ll get a fast and secure mobile platform to boost your trading experience. An app that comes directly with live customer service, negating any fears about technical issues.
Apps For Beginners
You’re about to embark on a steep learning curve, if you’re new to the game. You may already have a clear understanding of how the markets operate but it’s not so easy to know how to play the market effectively.
Below we rounded up some of the top-day trading features for beginners.
- eToro – You just need $50 to start trading stocks, commodities, indices and currencies, making it perfect for traders who are novices. You also get a distinct sense of community, with exposure to live conversations and seasoned traders, enabling you to evolve in real-time. Put in easy to configure performance charts and a simple rundown of your portfolio and you have the ideal forum for beginners.
- ETX – Another perfect platform for beginners, ETX gives you access to hundreds of live prices, open and close prices, plus the ability to position stop losses and make them change. Portfolio management was made simple, so you can work through the entire device with only a few taps. A user-friendly and graphing kit provides a beginner with all the necessary things to get a bold entry into the day trading arena.
- Binary.com – They have hosted trades worth more than $2 billion and are making their platform more accessible to beginners. The app is elegant, with a simple layout which makes it a walk in the park to get to grips with it. It also offers a straightforward fee structure, meaning that when you start, you won’t get stung by unexpected costs.
etoro App iPad Screenshot:
Day Trading Demo Apps
Having some practice with a trading simulator application is always a good move before you step into the ring. Your account will be funded with simulated money, so you won’t cut into your profit with any mistakes you make. They are the best place to get to know the markets and to smooth out any problems in your plan.
A few good apps for practice are as follows:
- HighLow – Their free trial account offers $10,000 of virtual money for you. The app’s design is kept basic, making it the ideal place to check and keep a track of results across various instruments. On top of that, if you want to move to live trading, you will also benefit from a cash back bonus of up to $50 for new accounts.
- Markets.com – Their free trial account of $10,000 of virtual money makes them stress-free for getting to know CFDs and the markets. Your demo account helps you to evaluate, prepare and execute your positions straight away. It also throws in a number of risk management features including stop loss, take profit, entry cap and entry stop. It will allow you to sharpen your skills before putting real money on the table.
News Apps
Once Warren Buffet said we should read five newspapers a day. Therefore the news applications below are well-worth downloading. They will ensure that important information is sent directly to your computer, allowing you to make swift and informed trade decisions.
- CNBC – You’ll not only get broken business and financial news, you’ll also benefit from real-time stock market quotes, plus a variety of easy-to-view charts.
- Bloomberg – There’s more to it than just breaking news and stock exchange information. You can build a watchlist of companies and stocks on which you want information, thus you can personalize the app.
- Yahoo! Finance – The elegant design makes navigation a breeze with a distinctive style. The sophisticated graphics make it also one of the best applications for iPad users. It also enables portfolios and quotes to be synchronized through various platforms, all while monitoring stocks, commodities, currency, and more.
You can get your hands on apps such as Power Trading Radio and Day Trading Radio if you want to hear the news, instead of reading it.
iOS vs Android
Although Apple and Android may be at war, luckily the trader does not have to struggle too much. You can usually find the day trading applications you can use for iPads, and iPhones in the Android app store, too. All the major, common app providers realized that providing access to both user sets is the smartest way to preserve peace.
That being said, certain apps can vary slightly from one OS to another. For example, TradeHero, considered one of the best iPhone apps, falls slightly short of the mark for Android users. After the October 2016 updates, the interface was not the same. Nonetheless, the company has re-assured consumers that the new models would have the missing functionality.
Another common option where you’ll find differences is the TD Ameritrade app. Reviews show it’s one of the best iPhone applications for day trading, but their Android version has so far failed to impress as much. Reviews from both stores display much higher ratings for the iOS version.
And it’s worth reading feedback before you purchase an app to make sure your product option isn’t going to keep you from benefiting from all of the features.
Final Word
Day trading devices have come a long way over the last few years. You can now place the entire trading experience in your pocket from a credit card-sized gadget. Before you head over to the app store, though, it is worth doing your homework. Check feedback to ensure that you are getting the features that your business style needs. Every second counts so test that you will get a fast and stable interface as well. Bear in mind, however, the best Android app may not be as detailed or run so smoothly on your iOS device, and vice versa.
