What things should I look for in a trading app?
Do you consider a trading app to be a deal breaker for which spread betting and CFD trading provider you choose? With advancements in mobile and tablet trading now, yes you should.
A trading app should offer you the same capabilities as a desktop platform. Reliability and stability are important, so you can be confident that your app won’t let you down when market prices are moving fast. Your app should also provide real-time prices on a wide range of markets.
Many providers also offer a demo app, which can be 100% risk free. Demo accounts are a great way of finding your style of trading and testing the markets without depositing any real money.
You should also be able to manage your risk by using a range of risk management tools and orders. Technical indicators allow you to see trends and can be useful in helping you to know when to enter or exit a trade.
Do trading apps provide a full trading experience?
A good app should provide most features that are offered by a desktop trading platform, right on your fingertips.
It’s a good idea to research your app providers before making any commitments. That way you can decide which one will be the most reliable and secure.
Elements to look for when you open your trading app may include the ability to see live market prices without logging in. Secure instant access such as fingerprint login or a pin code are also handy.
Types of in-app security, like having personal details masked, can set your mind at ease in case of a lost device.
You should be able to open and close trades as well as monitor your live trades. Depositing and withdrawing funds from your app provide a hassle-free trading experience.
Do mobile trading apps offer the same range of markets as desktop platforms?
It is common that traders tend to speculate on the markets they’re most familiar with. Be it FX, indices or commodities, having a range of markets is still a must, no matter the platform. Consider an event has happened, which may impact company x. The curious mind would like the option to search company x within the range of markets available.
Within an instant there is an opportunity to trade. So while on the move with your trading app, the key is to have minimal added disruption.
What charting tools are available?
From a look and feel perspective, you want your charts to be slick. Can you view charts in full screen? Are charts optimised for your app? Can you open, edit and close a trade position through charts? The ability to trade through charts allows for a good experience while viewing an open chart.
For the individual trader, choosing a chart type can be important. Also find out whether your app offers charting tools and indicators to help with your analysis.
Technical indicators like moving averages or MACDs can help you analyse trends and allow you to identify where to place trades. With a range of indicators and drawing tools, you can mirror your desktop trading. Adjustable timeframes are another great way of scrolling through historical or present data.
Signals and notifications
If you’re choosing to invest your capital, you’ll want to know every movement of it. Through notifications and alerts, being able to keep up to date in real-time is key.
Find out whether your app provides notifications, SMS and email alerts. These offer added flexibility and give you that full trading experience.