Best Trading Apps

Richard Montana | August 1, 2022

An online trading app is a mobile application on which you can buy and sell various financial instruments and invest in other assets online. All you need is a smartphone and an internet connection to get quick and easy access to the global markets including forex, stocks, indices, commodities and cryptocurrency.

With a mobile trading app, you can analyse the markets, open, manage and close positions all conveniently from the palm of your hands. There are many advantages to using a trading app which has seen them increase in popularity over recent years.

However, with there being so many trading apps to choose from it can seem overwhelming to decide which is the best trading app for you. That is why we have put together this handy guide to help you narrow down your search.

Top 10 Trading Apps

Here you will find our best trading apps, based on thousands of hours of extensive research, testing and analysis across hundreds of brokers. Upon conclusion of each of our broker reviews, we have assigned each trading app with a rating.

Some of the most important factors that contribute towards a good app for trading and investing online have been considered including the features and functionality. We have carefully examined things such as the financial instruments, tools, fees, usability, education, versatility, funding options, regulation, customer service and more.

Each of our chosen trading and investing apps have undergone and passed our stringent broker reviews with flying colours, based on what we consider to be amongst the most important considerations when choosing an app for trading online. These apps are well-established within the online brokerage industry, providing top trading conditions to traders and investors of all experience levels.

Having the best apps according to our findings listed in one place, can help you save time when looking for the best trading app for your own individual needs.

Broker
Rating
Regulated
Min. Deposit
Founded
Max. Leverage
1.

ADGM FRSA, ASIC, BVIFSC, CBI, FFAJ, FSCA, IIROC, JFSA

Min $100 Deposit

2006

1:400

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
2.

ASIC, BaFin, CFTC, DFSA, FCA, FINMA, FMA, FSA, FSCA, JFSA, MAFF, MAS, METI, NFA

Min $250 Deposit

1974

1:200

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
3.

ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB

Min $200 Deposit

2010

1:400

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
4.

ASIC, CySEC, FSA, SCB

Min $200 Deposit

2007

1:500

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
5.

ASIC, CySEC, DFSA, IFSC

Min $5 Deposit

2009

1:888

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
6.

ASIC, CySEC, FCA

Min $200 Deposit

2006

1:30

68% of retail investor accounts lose money when trading CFDs with this provider.
7.

ASIC, FCA, MAS

Min $100 Deposit

1983

1:200

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
8.

ASIC, CIMA, CFTC, FCA, FSA, IIROC, JFSA, NFA, SFC

Min $100 Deposit

2001

1:50

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
9.

FCA, FSC

Min $1 Deposit

2006

1:300

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
10.

CBI, CONSOB, FCA, PRA

Min $1 Deposit

1999

1:20

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

AvaTrade

We chose the excellent AvaTrade as one of the best trading apps because they offer online trading on a great selection of financial instruments across multiple markets via the powerful and easy to use AvaTradeGO app. They also offer you the popular and intuitive MetaTrader 4 (MT4) trading app. The platforms have a wide range of trading tools and indicators for a convenient and efficient online trading experience. Both of the provided mobile trading applications can be used on iOS and Android devices, making trading whilst on the go a breeze.

The intuitive AvaTradeGO app has a user-friendly sophisticated dashboard and an abundance of advanced features for a quick and easy online trading experience. You can connect to global markets with hundreds of trading instruments including the world’s top forex pairs, commodities, stocks, indices, cryptocurrencies and more.

The trading apps live feeds and social trends can be used to discover new trading opportunities whilst there are a set of other helpful features unique to the AvaTradeGO app including intuitive position management tools, clear charts, zoom for details, market sentiment and much more. You can see your trades at a glance, create your own watch lists, and view live prices and charts.

The AvaTradeGO mobile trading app provides you with step-by-step guidance on how to open trades, gives you feedback on your trading activity and offers support any time you need it. You can conveniently manage multiple brokerage accounts from within the app and seamlessly switch between demo or real accounts.

In addition to offering one of the best trading apps in terms of proprietary options, AvaTrade also offer the MT4 platform which is used by millions of traders of all experience levels from around the globe. This trading app has a vast array of built in indicators for studying various markets and charts for potential trading signals. There are trading tools for quickly placing trades and position management. The alert notifications can be set to alert you when a specific event occurs or price level is reached. This is great as it means that you do not need to watch the charts all day long whilst you wait for your signal to appear.

Founded way back in 2006, AvaTrade are amongst the world’s largest online brokers in terms of trading volume, offering low fees, competitive spreads and good execution speeds. They are also regulated in an impressive number of jurisdictions including Europe, Australia and South Africa. Their regulatory licenses span over multiple continents, making them one of the most well-regulated brokers that you will find anywhere.

Pros
  • Great selection of trading instruments
  • Easy to use trading apps for iOS and Android mobile devices
  • Wide variety of high quality trading tools and indicators
  • Social trading platforms for copying signals
  • Innovative technology at your fingertips
  • Competitive spreads and swap rates
  • Outstanding multilingual service and support
  • Secured deposits with a regulated broker
Cons
  • Cannot accept traders in the USA
  • Possible inactivity fees
  • CFD trading only
  • Minimum deposit of $100

IG

IG are included in our best trading apps for their industry leading online brokerage services. This includes a wide selection of trading apps for desktop, web and mobile devices. You can choose from a fantastic selection of platforms including IG’s proprietary trading platform, ProRealTime (PRT), L2 Dealer or the ever popular MetaTrader 4 (MT4) trading platform.

IG’s trading apps are user-friendly yet packed with an abundance of powerful tools and features to help deliver an enjoyable trading experience. You can choose a trading app that is compatible with your devices and offers the features and functionality that your trading strategies require. I found all of the apps to be very user-friendly making it quick and easy to perform market analysis and manage your trades. They also have plenty of tools for finding opportunities and making informed decisions. The apps integrate with Reuters which delivers the latest market news and expert analysis directly to your mobile device.

If you are already familiar with a particular trading platform then you may wish to continue using it. If on the other hand, you are new to trading online then the MetaTrader app is often a popular choice among new traders whilst the in-house developed IG trading app is also very powerful and full of useful features. I don’t think you can go wrong with either but it is worth considering that the MetaTrader app is available through many other brokers just in case you plan on using another provider down the line.

In addition to providing some of the best trading apps, IG is a regulated broker with a huge selection of over 18,000 financial instruments including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Options, Bonds, ETFs, CFDs and Futures. You can trade these markets online with tight spreads, low commission fees and reliable trade execution speeds. I think IG can be a great choice of broker for anyone looking to trade on modern apps in a regulated environment with plenty of options and tools at your disposal.

Pros
  • Trade wherever, whenever with intuitive trading apps
  • Easy to use platforms on both desktop and mobile devices
  • Full dealing functionality which allows instant trading
  • Open and close positions on thousands of markets with ease
  • Access exclusive expert analysis to inspire trade ideas
  • Set price alerts so that you’ll never miss an opportunity to trade
  • Fund and deal securely with secure encryption technology
  • Enjoy a seamless trading experience with a customisable layout
  • Free to use with demo accounts
Cons
  • Inactivity fee after 2 years
  • Minimum deposit of $250
  • No commission free stock trading

Pepperstone

Pepperstone are one of the largest online brokers offering a good choice between the popular MetaTrader and cTrader mobile trading applications. Both of these trading apps are well established options that are used by millions of traders across the globe. They are considered very user-friendly with intuitive interfaces, providing convenient online trading on your mobile devices from anywhere in the world.

Using the Pepperstone trading apps, investors have access to a wide range of trading instruments including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Bonds, CFDs and ETFs. They offer low cost trading with tight spreads and fast trade execution speeds. I would say they have some of the best trading conditions that I have seen from any broker over the years that I have held an account with them.

The MetaTrader mobile app is packed with useful features and trading tools for analysing the markets and trading online. This includes technical indicators and drawing tools to mark important price levels on your charts. You can choose between multiple chart types and timeframes. It supports push alert notifications to let you know when a specific price is reached or event occurs. You get real time price quotes of different financial symbols and free financial news to assist with fundamental market analysis.

The cTrader mobile trading app is another popular choice amongst traders of all experience levels. The cTrader app is fast and responsive, offering a transparent online trading experience from your mobile and tablet devices. You can expect to get just as much information and functionality as you would using the cTrader desktop app. You get access to a complete range of order types, technical analysis tools, price alerts, trade statistics, order management settings, symbol watchlists and a variety of settings to customise the platform for your trading on-the-go requirements.

You can get the MetaTrader and cTrader apps for Android and iOS devices, freely available to download from Pepperstone. You will need a brokerage account to trade on these apps, with Pepperstone being rated as one of best online brokers for trading online, primarily due to their industry leading trading technologies and strict regulation. These factors amongst many others make them one of our top choices for the best trading apps.

Pros
  • Intuitive MetaTrader and cTrader mobile applications for Android and iOS devices
  • Professional charting with an abundance of indicators
  • Decent range of trading instruments
  • Excellent selection of premium tools
  • Tight spreads and low commission fees
  • Deep liquidity pools deliver superb execution speeds and top class pricing
  • No dealing desk so no conflict of interest
  • Integration with social trading platforms for copying other traders
Cons
  • Do not have a proprietary trading app
  • Minimum deposit of $200 is not the lowest
  • Cannot accept traders in the USA
  • Mostly CFDs offered
  • Not the largest range of instruments you will find

IC Markets

IC Markets are included in our list of the best trading apps due to the fact that they provide some of the best trading conditions for trading online via the powerful MetaTrader and cTrader apps. As you will have noticed from the other brokers that we have included in this list, these are amongst the most popular and user-friendly trading platforms available today.

The True ECN trading model is incorporated into all of the platforms at no extra cost for all clients. This means that you get rapid trade execution speeds at the best available prices. The brokers commission fees are also very competitive whilst there is a variety of fast and convenient deposit and withdrawal options.

In addition to some of the industry leading trading conditions and trading apps, IC Markets also offer free trading tools, educational materials and multilingual support 24/5 via phone, chat and email. I have had trading accounts with this broker for many years now and put them at the very top all round. I think they are ideal for anyone who is looking to day trade manually or run automated trading strategies.

Pros
  • High-performance trading apps and tools
  • Access a world of choice and CFD trading on the world’s most popular financial instruments
  • Buy and sell CFDs at low spreads and fast execution
  • Fund accounts via leading payment methods and transfer funds between accounts
  • Check out economic events in the calendar
  • Easy monitoring of your balance, equity and margin
  • Get in contact with 24/7 dedicated support from the IC Markets App at any time
  • Make deposits and withdrawals directly from the app with different currencies and multiple methods
  • Quickly and easily transfer funds between accounts with minimal hassle
Cons
  • Do not have a proprietary trading platform
  • Cannot accept traders in the USA
  • Minimum $200 deposit is not the lowest
  • Could add some more standalone tools

XM Group

XM Group make it into our best trading apps category. They offer the well-known MetaTrader app which was developed by MetaQuotes and as we have already discussed is widely regarded as one of the most popular trading platforms. It is simple to use, with an intuitive user interface and variety of trading tools for analysing the markets. You can easily follow the markets and conveniently place and manage trades whilst on the go, all from directly within the app. The app is compatible with mobile devices running on iOS and Android whilst it is free to download either directly from the broker or from the relevant app stores.

The broker has a wide range of trading instruments for trading on the app including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies and CFDs. XM Group clients can trade online with no-requotes, low spreads, fast execution and negative balance protection. They also get a choice of 25+ secure payment methods and a client support team that is available 24/5 in lots of languages via phone, chat and email.

I think XM Group is a good choice for anyone who is looking to access the markets in a regulated environment with minimal fuss. I have had an account with them for many years and have yet to run into any issue. The provided trading apps are suitable for traders and investors of all experience levels.

Pros
  • Access the markets via a diverse selection of versatile trading apps
  • Great selection of financial instruments across various asset classes
  • Trade forex with ultra-low spreads as low as 0 pips
  • Zero re-quotes and zero rejections
  • Customize your settings, and top up your account, all in-app
  • Utilize advanced charts and over 90 trading indicators
  • Free trading signals and access to market research
  • Robust trading tools and helpful educational resources
  • Impressive choice of over 25+ convenient funding options
  • Free demo accounts with virtual balances
Cons
  • Cannot accept traders in the USA
  • Inactivity fees if you are not trading frequently enough
  • Only provide the MetaTrader platforms

eToro

eToro deserves a place in our best trading apps, having long established themselves as one of the best social trading platforms. The eToro mobile app is used by millions of traders around the world of all experience levels. The app is extremely user-friendly and can be used for individual trading and copy trading. Using the eToro trading app, you can manage your portfolio, follow markets, copy traders, and perform any action available on the eToro platform from your smart mobile devices.

The eToro app has a large selection of trading instruments in various asset classes to choose from including stocks, forex, cryptos, commodities, CFDs and more. The vast eToro online trading community allows you to connect with other traders to view, compare and discuss trading strategies.

There is a large range of trading signals that users can choose to copy via the eToro trading app with the patented CopyTrader™ technology. The “Popular Investor Program” enables top-tier investors to earn additional income by being followed and copied by other users on the eToro app. They make it quick and easy to find signals which you can follow or unfollow at any time.

There is also the eToro club which offers a range of exclusive benefits, services, and tools to its members. These benefits include a dedicated account manager, market analysis, live webinars, expert investment support, premium trading tools, exclusive VIP events and more.

Users of the eToro mobile trading app have peace of mind due to the fact that eToro are regulated by some of the most respected regulatory authorities. I think that they are an excellent choice of trading app if you are looking for a copy trading solution. If you want to trade manually, then you may prefer a MetaTrader broker that provides the MetaTrader app instead.

Pros
  • Access the global markets with an easy-to-use web platform and intuitive mobile app
  • Huge range of financial instruments across multiple asset classes
  • Very competitive and transparent fees
  • Features for new and experienced traders
  • Get access to the trading signals of others via social trading
  • Ready-made Smart Portfolios according to your own preferences
Cons
  • No scalping or hedging allowed
  • $10 inactivity fee after 12 months
  • Minimum deposit of $200 not the lowest
  • There are some high non-trading fees
  • Only one account base currency

City Index

City Index make it into our best trading apps list as one of the first online trading platforms that has since grown into one of the top brokers in the world, serving hundreds and thousands of online traders around the globe. They are owned by GAIN Capital Holdings Inc (NYSE:GCAP), who also own Forex.com and are one of the largest retail and institutional trading service providers.

Through City Index’s trading apps, you can trade a fantastic range of over 12,000+ markets including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Options, Bonds, Spread Betting, CFDs and ETFs. They are a regulated broker that is committed to offering industry leading trading services with fair and transparent pricing, risk management tools and excellent customer support.

City Index offer mobile trading apps for iOS and Android so that you can access your account wherever you are in the world at any time, from your smartphone or tablet. These apps provide secure 24-hour account access, live charts and pricing with built in Reuters news feed and economic calendar. Using the mobile trading apps, you can place and manage orders on the go.

The mobile trading platform key features include:

  • Trade anytime, anywhere: Trade across multiple devices, open on your desktop, close on your smartphone or tablet
  • Live TradingView charts: Plan your next trade with full-screen TradingView charts and a range of 60+ technical indicators
  • Reuters news: Receive the latest global investment news from Reuters in the app
  • Trade across devices: Trade on desktop, close on mobile or tablet. City Index accounts work on multiple devices
  • Personalised watchlists: Create and amend multiple watchlists, to keep an eye on your chosen markets
  • Economic calendar: Keep up-to-date with market events with the global economic calendar
  • Device syncing: All your account details, history and preferences are synced between devices
  • Live chat: Speak directly to City Index’s customer service team instantly through live chat

The MetaTrader 4 (MT4) trading app is freely available for iOS and Android devices with a wide variety of implemented features which are further enhanced by City Index’s service, support and pricing. When you trade forex and other markets with the City Index MT4 app you can benefit from ultra-tight spreads, fast trade executions and unique trading tools.

MT4 is well known for its quick learning curve and trading tools, thus making it one of the best trading platforms for new and experienced traders alike. Through MT4 you can conduct a range of thorough technical and fundamental chart analysis using the numerous indicators provided.

Overall, I think City Index are one of the best brokers that can provide beginners and experienced traders and investors with some of the best trading conditions that you will find.

Pros
  • Flexibility across all of your devices
  • Live professional charting with advanced tools
  • Real-time price alerts on all of your favourite instruments
  • Performance analytics to improve your strategies
  • One-swipe trading at your fingertips
  • Full-screen charts in portrait and landscape mode
  • Total account management in one intuitive app
  • Good selection of technical indicators for market analysis
Cons
  • Certain features restricted depending on your location
  • Product portfolio limited to forex and CFDs
  • Inactivity fees if you do not trade for a sustained period of time
  • No Islamic accounts available
  • Limited e-wallet funding options

Forex.com

Forex.com make it onto our best trading apps list due to the fact that they are amongst the very few online trading brokers that actually accepts US based clients. Not only that, just like City Index, the parent company of Forex.com is GAIN Capital Holdings, Inc. (NYSE:GCAP), who are a publicly traded company listed on the New York Stock Exchange. They have a proven track record of stability, security and financial strength, with plenty of resources at their exposure to continue providing innovative online trading apps.

You can trade a reasonable range of over 300+ global markets from a choice of sophisticated trading apps that are designed to meet the different needs of all different styles and experience levels of traders. Each trading platform is designed to give an enjoyable trading experience with fast trade execution speed, low fees and tight spreads. The mobile trading apps are available on iOS and Android devices (iPhone / iPad / Android / Tablet). This is useful if you plan on trading using multiple devices in different locations as one account can be accessed across the different apps.

With Forex.com’s mobile trading apps, you never have to miss a market move. They offer the ultimate trading experience at your fingertips so that you can easily manage your account and trade on the go with access to full robust trading features, real-time market price quotes, risk management options, advanced TradingView charting and real-time analysis, integrated fund management and more from your mobile devices.

Forex.com is one of the largest MetaTrader 4 (MT4) brokers. They provide users with the option of trading online via the free MT4 trading app that is used by millions of traders around the world and considered by traders as one of the most user-friendly trading apps, thus making it a popular choice for beginners whilst having enough advanced functionality to satisfy the more seasoned traders. MT4 has a variety of built in tools for analysing charts, following various markets, placing/managing traders, setting alerts, getting economic news updates and much more.

Pros
  • Execute in seconds with one- swipe trading, then monitor your open positions from anywhere
  • Analyse price movements at a glance using intuitive charting tools
  • Customize your watchlists and alerts to maximize opportunity
  • Use advanced orders and partial closes to adapt your strategy on the fly
  • Stay ahead with integrated analysis, Reuters news and real-time price alerts
  • Choose from 60+ technical indicators, 50+ advanced drawing tools and 14 chart types
  • Access advanced analytical tools including integrated trading strategies
  • Identify correlations by overlaying multiple markets onto a single chart
  • Manage your account on the move – fund, withdraw and report whenever, wherever
Cons
  • No commission demo accounts
  • Could add some more payment options
  • Inactivity fees if you are not trading
  • Product portfolio limited to forex and CFDs

Trading 212

Trading 212 is a popular mobile trading platform offering flexible zero commission trading on 2,000+ instruments including stocks, forex and cryptos. They provide a powerful and user-friendly trading app that is suitable for traders of all skill levels. It comes with some handy tools to help you with your market analysis and making informed trade decisions. With Trading 212, you can get convenient access to an excellent range of trading instruments across multiple asset classes without any hassle.

Pros
  • Thousands of trading instruments to choose from
  • Easy to use trading app
  • Commission free trading
  • Low minimum deposit
  • Good variety of deposit and withdrawal options
  • 24/7 customer support
  • Helpful educational content including videos and guides
  • Demo accounts to practice trading
Cons
  • Cannot accept clients from some countries
  • No MetaTrader platforms
  • No Islamic accounts
  • Funding fees may apply

FinecoBank

FinecoBank is an Italian bank that offers online trading services, asset management and banking services to a global clientele. They offer online trading in multiple asset classes including Forex, Stocks and CFDs. The broker provides you with an advanced and sophisticated trading app that is designed and built in-house to satisfy the special needs of both retail and institutional traders alike. I found the platform to be a powerful, fast, and customizable work station that is easy to use, regardless of your experience level.

Pros
  • Give you access to an advanced proprietary trading platform
  • Web based platform and mobile app for trading on the go
  • Competitive trading conditions and fees
  • Good variety of educational resources
  • Trading guides and tutorial videos to teach beginners
  • Market analysis from experts
  • Provide banking, trading and asset management services
  • Excellent customer service
Cons
  • Limited funding options
  • Platform fees apply
  • Do not currently support cryptocurrency

Trading Apps Guide

What is a Mobile Trading App?

A mobile trading app enables traders to trade global markets from their mobile devices. Users can download a trading app, login to their trading account and access trading instruments from various markets including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Options, Bonds, ETFs and CFDs. Most online brokers provide these mobile trading apps free of charge and for use on iOS and Android mobile devices.

Mobile trading apps are great for those who wish to trade whilst on the go as they can access their online trading account and manage positions from anywhere in the world. You will need an account with an online trading broker to be able to trade on a mobile trading platform and also an internet connection. You can see a list of our best online brokers if you do not yet have an account with an online brokerage firm.

In the past, investors who wanted to trade a particular market and instrument, would have had to go through an offline broker which meant that the markets were much less accessible than they are today. As technology has improved over the years, there are now hundreds of online brokers offering online trading services to clients of all experience levels from around the globe. Anyone who has aspirations to be a successful online trader can open a trading account with an online brokerage and gain access to the brokers trading apps for trading the markets online.

When using a trading app, you can view real time bid and ask market prices of multiple assets. You can load charts of different types to analyse the historical and current prices of chosen trading instruments over multiple timeframes. The trading apps will have a selection of technical indicators that can be used to help identify potential trading opportunities on your favourite markets. Once you have identified a suitable trading opportunity, you can execute, manage and close your buy or sell position directly through the trading app.

Choosing a Trading App

Following on from our best trading apps list, we will now look at what mobile trading apps are used for and some of the most important factors worth considering when looking for a suitable mobile trading app.

Regulation

When you choose a mobile trading app it is imperative to ensure that the brokerage providing the app is regulated by one of the most respected government authorities. The regulatory authorities that some traders will look for include the Australian Securities and Investment Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) and the Financial Conduct Authority (FCA) in the United Kingdom.

Investors can have more protection when they opt for a regulated broker compared to an unregulated “offshore” broker. A regulated broker is obligated to conduct business according to the strict rules and regulations implemented in order to help give investors protection. It is usually a wise idea to verify a broker regulation claims by checking the brokers regulatory license number with the relevant authorities to ensure that the regulation is legitimate and still valid.

Instruments

Each online broker will have a different choice of markets and trading instruments for you to trade through their mobile trading apps. If you have a specific market or instrument in mind, it would be a good idea to check that it is available to trade through your chosen broker and trading app. In addition to this, if you plan to branch out into different markets in the future, you may want to opt for a brokerage firm who operates in these additional markets. You will find that there are plenty of brokers that you can choose from that offer a mixture of different financial instruments.

Tools

Different mobile trading apps will contain a different selection of trading tools for conducting market analysis by studying the charts for potential trade opportunities. These can help spot trending and ranging markets. Most trading apps will have the most popular technical indicators such as the moving average, Bollinger Bands, CCI, RSI, Stochastics, MACD, etc. However, if you require more specific tools for your technical, fundamental, price action and sentiment analysis, check that the broker offers these tools via their mobile trading apps. Some additional tools to look out for include market insights from experts, economic calendars, depth of market level 2 pricing and sentiment analysis tools to help gauge what other traders are doing. It can make trading a lot more efficient by having the required tools readily available from one platform rather than having to check elsewhere.

Fees

Whilst most mobile trading apps are provided free by the broker, there are some who charge monthly and volume-based fees, usually for specialised trading apps that have specific features a professional trader may need. In saying that, the majority of free trading apps will more than likely be sufficient enough for the average retail investor.

Commissions

In addition to possible mobile trading app fees, you may wish to consider the other online trading costs. Most online brokers charge a commission fee for placing trades in addition to the spreads and overnight swap fees. These costs are a part of trading although they can vary significantly depending on the broker you choose. Thus, it is important to consider the overall trading costs that you will incur and the potential impact they will have on your trading strategy.

Spreads

The spread is the difference between the buy and sell (bid/ask) price which can vary depending on the trading volumes and liquidity providers used by the broker. Some brokers offer fixed and variable spread accounts on their trading apps, others will offer commission free accounts but instead mark up the spread to make up for this. Usually, the greater the liquidity a broker has, the tighter the spreads are likely to be. It is important to consider the spread when planning your trades, especially if you are planning on using scalping trading strategy.

Swaps

If you keep hold of a position with your broker overnight then you will most likely need to pay a swap fee. The swap fee is an interest fee for the procedure of moving open positions from one day to another, also commonly known as the rollover. This is another cost that may need to be factored in to your trading plan. Some online brokers offer swap free Islamic trading accounts that conform with Sharia law which enables Muslim traders to engage in online trading through mobile apps.

Other Fees

Along with the trading app, spreads, commissions and swap fees, there can be other discount brokerage fees that you may be charged. If you are considering choosing a broker, ensure that you understand any additional fees that there may be. Some of the other fees that are worth consideration include account funding and inactivity fees.

Usability

If you are already familiar with a specific trading platform then it could be a good idea to choose an online broker that offers that platform as a mobile app. However, if you are yet to have a trading platform of choice, then it may be a good idea to start with a broker that offers a popular and user-friendly trading platform such as the MetaTrader 4 mobile app. The MT4 trading app has plenty of online tutorials available to help you learn how to use it and is often considered as one of the most intuitive trading platforms, making it a popular choice amongst new traders.

Leverage

Nearly all online brokers will offer you trading with leverage on their trading apps. In a nutshell, leverage allows you to open a trading position larger than you could if you did not have any leverage. If for example you had leverage of 1:100 and a trading account balance of $500, you could effectively open a position size of $50,000 (500 x 100 = 50,000). Although leverage can increase your potential profits, it can also greatly increase the risk and lead to large losses. It is of the upmost importance that traders have an in-depth understanding of what leverage is and the significant risks it involves before they start trading online with leveraged positions. Check the brokers trading app you are looking at offers a leverage level that you are comfortable with.

Education

You will find that some brokers offer traders a range of useful educational resources to help empower them and make them better traders. These educational materials can include videos and trading guides to help them improve their trading knowledge and skills. There may be detailed tutorials on how to use the different trading apps which could be helpful for those who are new to online trading and need help in order to familiarise themselves with the choice of mobile trading platforms that are available to them. If you are new to trading and need as much guidance as possible, you might want to explore our best brokers for beginners.

Compatibility

You should check that the trading app will run on your mobile device. The majority of trading apps run on iOS and Android mobile devices. Check the specifications provided by the broker to ensure that your device is compatible and meets the minimum requirements.

Funding

Online brokers will offer a choice of methods for making deposits and withdrawals to your trading account via their mobile trading apps. Whilst you will find that most brokers accept bank wire transfers and card payments. Others will offer online payment processors such as Skrill, PayPal, Neteller, etc. Ensure that the broker you are considering supports your preferred funding method via their mobile trading apps.

Support

If you have an issue with the brokers trading app that you need immediate assistance with, you would want to ensure that your broker has a prompt and efficient customer support team. They should be on hand to help you with all technical and general questions as and when you need them. The online chat support option is often one of the quickest ways to speak with a member of the brokers support team whilst other options include telephone and email. The greater the hours of availability from the brokers support team, the better. Some brokers offer support 24/5 whilst others can be reached 24/7. You may want to check the brokers office locations and open hours as they may be in a different time zone to you which could affect their response time. The broker should have a method of contacting them that is most convenient for you and available in your language. If they can be reached directly through the trading app, that may be considered more convenient.

Conclusion

In this trading apps guide, we have covered what we consider to be the best trading apps and some of the things that you can look out for when choosing the best trading app for your own individual needs.

Whilst there are many trading apps to choose from, you will find that most brokers provide a similar choice, MetaTrader being one of the most common apps. You will find it being offered by the majority of brokers whilst others may have their own proprietary app.

It is important to remember that you choose a trading broker and app that meets your requirements and use this information only for educational purposes and not as advice. Take your time to research and conduct your own due diligence.

You can even test a trading app with a free demo account to see if they are suitable before making a commitment. Please feel free to use our broker comparison tool if you need some further inspiration.

About the Author

Richard Montana
Richard has many years of experience in broker research, testing, analysis and reviews. He knows what to look for through years of trading himself with different brokers and listening to the feedback of others.

Review Methodology

For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. This includes pros, cons and an overall rating based on our findings. We aim to help you find the best broker according to your own needs. You can read more about our review process.