With a trading app you can invest in stocks, indices, options, cryptocurrencies and forex on your mobile device.Whether you want to invest in the long term or are interested in immediate transactions, the mobile apps are always a good choice because you know the latest developments in the market and react quickly to price fluctuations.Not for no reason use of small investors use mobile trading apps to be able to act on the go at any time.
Trading apps - independent and bound trading apps
Not all brokers have their own mobile app.One way to solve this problem is the mobile API of the platform that users offer access via their account.The independent trading apps were developed for this variant.With these, mobile trade can be started with almost every broker.
However, many large providers have already developed their own trading apps and make them available to their users.They offer beginners a comfortable solution because they enable inexperienced traders to learn the basics and copy other traders.In addition, these trading apps enable trading with certain platforms and brokers.
Which trading app is suitable for you is not independent of the values you want to trade with and which trade strategy you prefer.Take a look at examples like the Trading app from Etoro.You will find all the facts about Etoro and the app from providers as in demand.
Advantages of investing from your cell phone
Accessibility: With a trading app you can act almost anywhere as long as you have an internet connection.You no longer have to go on the Internet via the PC and the home network or visit a bar where WiFi is freely made available.Whether café, taxi, elevator or park, you always have the opportunity to access your trading account.
Availability: Trading apps enable constant access to the account and trade, so you can act everywhere and anywhere and even get push notifications with the right settings on your device so that you can react immediately to important messages and events.Market fluctuations, events and important changes are no longer missed, since the constant availability of the trading app notifies it as soon as an interesting message is published for you.
Take existing accounts with you: Many brokers offer the opportunity to act on the go.Talk to your broker.There are over 500 broker companies that enable trading on the mobile phone and tablet.Existing customers can almost always take their accounts with them and continue with them from the mobile device.
Strategy improvement: Many trading apps integrate templates for trade strategies or enable social trading or copy trading.In addition, a demo account can be created to improve the skills.Use the apps to improve your skills and strategies.
Technical analysis: Many mobile trading platforms integrate a variety of tools and indicators with which you can analyze the market and thus plan the next step exactly.In addition, there is a complete integration with Metatrader4, the applications you use are imported because MQI scripts are fully supported.
Disadvantages of investing from your cell phone
Loss of connection: Even if internet is available almost everywhere in the 21st century, there are places where the internet connection may be interrupted at least at least at short notice.With an important trade, a lack of action can quickly lead to loss.
Slow execution time: Many trading apps are created from applications developed for PCs.This means that you have access to many of the functions you also have on the PC, but the performance and the experience are often not comparable.In certain cases, the web version is therefore still a better choice.
Missing indicators: Expert Advisors or similar trading tools that can be used on your PC are often not available for mobile devices.So you have to act without the support of important tools, which can be particularly difficult for beginners.
Incorrect applications: To date, not all applications are error -free.Android does not fully support the Java engine.In addition, the SIP and MAC address bans make the use of certain apps more difficult.Errors and not completed applications and tools are still represented today.
Trading apps - know and consider risks
Beyond the advantages and disadvantages, you should know the risks that the use of trading apps bring to carry out trading via a trading app as safely and concentrated as on the home PC.
Because not only false information that deals on the Internet can affect your trade.Not to know your own investor profile often occurs, so before the first trade, make a precise plan for how much you are willing to invest, losing when you want to make your first win and whether it is a risk capital.
Many beginners also try to trade as their “role model”, this is wrong, they have to find their own style.Take a look at the different strategies and adapt the strategies to your behavior and possibilities.
In addition, many beginners invest without having practiced beforehand and have looked around on the platform.If possible, create a demo account and try the app in peace before starting real money trading.
Trading apps - our conclusion
Trading apps offer a very good way to be able to access your own account all over the world and to take part in retail at any time.According to our editorial team, it is important to pay attention to the properties of the respective app when choosing the app.
Check the features such as the broker selection, available tools and indicators and whether additional costs arise.In addition, you should make sure that the trading app enables push notifications so that you no longer miss any note.Also consider the risks and never lose sight of your financial options.
