7 mobile applications for traders

The stock market has one interesting feature: since everything in the stock market is related to events around us, when you follow stocks, you tend to be aware of everything that is happening in the world.

Whether you’re looking for attractive companies for long-term investing or want to make a short-term trade in some commodity (like copper or oil), the stock market makes our hearts beat faster, inspires us, and often leaves us fooled.

That’s why an investor can’t do without special mobile apps. Among them, there are not only those that help find a reliable deal, but also social networks, newsletters and even full-fledged mobile trading platforms, thanks to which even inexperienced beginners can invest and trade.

Robinhood

Robinhood

Robinhood is mentioned in all reviews of stock market apps because it’s really very good. The most important thing for brokerage firms is the amount of commissions they charge their clients for using their money in trades. Even independent traders usually pay commissions per trade on the brokerage platform they use. However, Robinhood is a free trading platform where you can trade stocks of companies and exchange-traded funds without paying a dime per trade. Robinhood earns income through accumulated interest from its users’ accounts. Moreover, this platform gives its users the possibility to make personal lists of securities that interest them and get real-time information about market data and quotes. Robinhood is a beautiful, modern application with a user-friendly interface. If you are going to trade on the stock market, you cannot do without it.

Yahoo Finance

Yahoo! may be treated differently, but their financial news has earned the highest reputation among investors over time due to the fact that it is accurate and covered all aspects of financial activity. At some point Yahoo Finance launched an app, and today it is the most trusted source of financial news and the latest news from the stock market. With the help of this modern and beautiful app, users can track stock quotes of the companies that interest them in real-time and learn the latest news about them, as well as compare different securities among themselves, follow investment portfolios of other users, and get full access to all information on Yahoo Finance.

Betterment

Some people are intimidated by this trading concept where you only have to set trading conditions and do nothing else, but many users are crazy about Betterment because it seems to allow them to make money effortlessly.

Betterment

It’s a so-called independent robo-advisor – Betterment invests your money for you using a set of sophisticated algorithms, picking the best stocks for you according to your budget and lifestyle. If that seems too good to be true for you, Betterment’s creators assure you that, based on 30500 test periods, their portfolios performed better 88% of the time than comparable portfolios of stocks managed by human experts.

Once again: not the same numbers, but better. The best thing about this app is that the initial investment amount can be anything, even one dollar, and its commissions are penny-perfect, from 0.15% to 0.35%, depending on how much money you invest.

Forcerank

Forcerank is a new application from the creators of the Estimize platform. In principle, it makes sense to be wary of apps that haven’t stood the test of time, but Forcerank is built on a proven resource. Estimize is a community of over 47,000 sell-side and buy-side analysts, as well as independent traders, investors, and students. Because they are so knowledgeable in so many different areas of finance, they produce the best consensus forecasts in the world. Their results are impressive: Estimize claims that their users’ forecasts are more accurate 74% of the time than those of sell-side analysts. Forcerank is essentially a mini version of Estimize, made as a game for those who love markets and understand them. Users can compete to see who can make the most accurate forecasts, and while their user base is still much smaller than Estimize’s, this app has great growth potential.

StockTwits

This app can be described in just a few words: StockTwits is the Twitter (NYSE: TWTR) for stock analysts. Period.

The only problem with StockTwits is that, just like a normal Twitter, anyone can tweet about the stock market, stocks, and the current situation changes here, no matter how idiotic or new at it they are. However, the big advantage of StockTwits is that many of the world’s biggest investors consider it to be a valuable tool. In addition to providing real-time insights into users’ opinions on certain securities, StockTwits provides reliable information on trending stocks and market news, helping investors stay up-to-date on everything that’s happening with the stocks they’re interested in. StockTwits has actually become an open channel for exchanging information about investing, thanks to which sophisticated traders and investors can cooperate profitably.

eToro

eToro

eToro is a great crowdsourcing platform that’s a lot like StockTwits, but with one important addition: it not only allows you to communicate with famous traders, but also to directly follow their trades (and copy them).

If this seems like cheating to you, don’t be too indignant. It takes a lot of time to study the stock market, and it will probably take you a lifetime to become an expert on it. That is why it is necessary to collect pieces of knowledge everywhere and always, it does not break the rules of the game. The eToro user base includes several million people from 170 countries, and you can thoroughly examine the portfolios, earnings, and transaction history of any of them.

Everyone has their own rating and risk score, compiled from other users’ evaluations, so everyone can see how safe and secure the trades they make are. If you want to learn and earn at the same time, this app is made for you.

Stocks Trader

Another discreet app available for iOS and for Android. Stocks Trader counts as one of the best mobile apps for tracking current quotes, pre-opening and post-closing quotes, monitoring various portfolios, and even getting full-screen charts. Everything is sent in push notifications.

Stocks Trader gives you direct access to most American brokers, allows you to track various aspects of financial activity and even provides a trading simulator so you can learn how to trade without risking real money. The full version of the app is a bit pricey at $15.99, but the free version is great for beginners who want to try their hand. Along with Robinhood, this application should be installed on every trader’s smartphone.

Kevin Doran

I have been trading forex since 2015. Over the past few years, I have tried and tested all the most popular Forex Brokers. I publish my reviews to help you choose a reliable broker and reduce your risks.

Rate author
proptradefirm.com