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Best Stock Trading Apps in Australia (2022)
Long gone are the days when you had to sit by the phone for hours to trade stocks during opening hours. Thanks to stock trading apps, traders can access the market at any time from anywhere, buying, selling, and trading with the push of a button.
While trading apps are there to make life easy, not all of there are created equal. We did some digging online to find the best stock trading apps for Australians.
Table of Contents:
7 Best Stock Trading Apps in Australia
When you’re looking for an app to get started, look no further than these top 7.
We’ll tell you why we picked them and go over the things we looked for when creating our list. Skim over the details and use them to choose your preferred broker with a trading app to help take your trading to the next level.
1. eToro – Best Stock Trading App for Beginners (0% Commission)
eToro has a solid rep that comes from its easy-to-use platform and essential features. It’s the perfect stock trading app for rookies, filled with tons of educational resources.
Though it’s great for rookies, seasoned traders will have all they need to execute trades, including analysis tools to get an in-depth look at the market to decide which trades have the most potential.
- Zero Brokerage. No matter what the trade, there is never a brokerage fee to worry about.
- Shares + Traders can get in on over 1700+ stocks, CFDs, forex, and cryptocurrency.
- Copy Trading. This is an especially solid option for those who don’t have the time to sit and monitor the market, allowing them to copy the same moves pro traders are making.
- Fully Regulated by the FCA, ASIC & CySEC.
- Trusted by 13+ million clients internationally.
- Riskier Markets. With more markets to choose from, traders will have to deal with more risk. While more risk usually means a bigger return, it requires careful attention and certainty to avoid losses.
Key App Features:
Social Crowd Sharing
Perhaps the most popular feature that traders score from using the trading app from eToro is a little thing called crowd sharing. Traders of all levels can use this feature to take a peek at what other traders are doing, taking their pick of those who are highly successful.
Not only can traders observe a trader’s every move, but they can also set up their account for copy trading, which will have them making the same moves the pros do to amp up their trading success.
Opening up the trading app gives traders access to a slew of information. Not only can they check out the latest market news but take a look at real-time data. The app offers each trader a chance to configure their homepage, accessing the charts and other analysis tools that they need to make better trades.
Not everyone has time in the day to stay glued to their phone to check out the latest trends. With the help of automated tools and advanced software, traders can opt for notifications for things like price drops, breaking news, and news about any stock that’s on their watchlist.
All of this is useful information that can come in handy if you’re constantly on the go but want to keep in on the action.
Read our full eToro review for further details.
2. Best Feature-Packed Stock Trading App – Plus500
Since Plus500 hit the scene in 2008, they have been a big name in online trading. Their website is simple to use and optimized for mobile use, making it a preferred choice among many traders.
Opening an account is quick and easy and browsing through all of their markets is made simple. Plus, when it comes to picking stocks, the long list of Plus500 analysis tools comes in to save the day.
- Easy to use platform. No matter what your level of trading or technology is, the platform is simple to use. Browse through and find all you need without any hassle.
- Simple account opening. There is no complicated process here. Instead, users can create an account and be ready to make their first trade in no time.
- Great customer care. You won’t have trouble getting ahold of someone and, whenever a question comes up, you can find the answer to it any time day or night.
- Limited markets. Compared to some of the other choices online, Plus500 is a little limited.
- Research tools could use an upgrade. Not that they are not good, there are just so many great ones on the web.
- Average fees. When comparing to others sites, you’ll find that Plus500 falls right in the middle when it comes to fees.
Key App Features:
If there is one thing we love about this app, it’s the design. Everything is nice and organized and seems to blend together perfectly. Instead of figuring out how to navigate the app, users can log in and start using it in no time, finding all they need at the click of a button.
Not only is the site equipped with SSL certification but also gives users options for two-factor authentications. Using an additional layer of security, users will have to log in to the app and provide an additional credential, whether it’s via cell phone, email, or social media login.
The app is not just about browsing and checking stocks. Users can also place orders, including advanced order types like Guaranteed Stop, Market, Limit, and Trailing Stop. All of these work together to help users secure their investments and make the most out of their time in the market.
All of these are lifesavers, allowing users to set up their account and trades to keep their finances secure.
Read our Plus500 review for further information.
Full disclaimer: “77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
3. CMC Markets Invest
It should come as no surprise to experienced traders that CMC Markets has made it onto our list. The app is just like the online trading platform, though it’s quicker to navigate and more interactive.
With the CMC Markets Invest trading app, Aussies can buy, share, and trade both locally and internationally.
There is no order type that is off-limits, and the app allows traders to do all the research necessary to better choices about trades.
The app is an all-in-one interactive experience that allows traders to really get into trading. Traders can access the latest news and even score access to commentary from some of today’s most pro-market analysts.
- Low Fees. There are no brokerage fees and zero charges on commissions to trade stocks in some of the biggest global markets.
- Variety. The CMC Markets Invest app allows traders to execute any order type under the sun.
- Resources. From analysis tools to pro analysts, this app allows traders access to a ton of resources.
- Automation. From watching particular stocks to setting buy and sell prices, traders can automate their accounts to get the most out of their trading experience.
- Limited. Compared to other stock trading apps out there, CMC is not the most global. There are only four global markets available that are without commissions, with a few others starting off at $11 per trade.
Key App Features:
Conditional Sell Orders
When you’re not there to see what’s happening in the market minute by minute, there’s a lot that you can miss out on. To help keep you in the loop and secure your investments, CMC Markets offers conditional sell orders, which will buy or sell your shares when they hit a target price. Set them up and let the mobile trading app take care of the rest.
At any time if you’re curious about your portfolio, there is a way that you can log in and check it out with help from real-time market info. CMC Markets keeps a close watch on your portfolio, helping you decide when to make moves and when to hold back. Browse your investments and decide when you want to make moves anytime from anywhere.
The app has all of the same options as the desktop web page. The webpage has a ton of things to do, which could get crowded without a mindful app layout. Luckily, the app is highly organized and allows traders to navigate with ease.
Find things quickly with the homepage search bar or scroll down and access all the key options you need including adding and withdrawing funds and executing buys and sells.
4. IG Trading
IG Trading isn’t like other brokers. They realize that different devices work a bit differently, tweaking each of their apps to work with today’s technologies.
Find an app specifically for iPhone, Android, Windows, and more, getting the best possible experience with the device that you have.
Options to download demos and get a feel for using the app before you dive in headfirst are there, creating a full-on immersive learning experience for traders of all levels.
- It’s Free. The download is 100% free and includes an interactive demo to start.
- Global Stocks. Not only does the IG Trading app offer access to global stocks but, they do it without tacking on extra fees. Pay $0 in trade commissions no matter where you trade.
- Native. No matter what device you rely on for your mobile connection, there is an optimized app for you.
- Not for Rookies. For those that plan to trade here in there, IG Trading is probably not the best option. It’s best for active traders that are ready to dive in and start trading.
Key App Features:
Truly Native App
A lot of apps these days work well with a few systems and not so well with others. It can be difficult to make an app that fits all configurations, which is why IG Trading decided to cater to all systems. Whether you’re an iOS user or an Android user (the battel continues!) there is a specific configuration for you.
The native app works perfectly with all environments to adjust to every user.
Apps update but, the more often they do, the safer and more useable it is. IG Trading is always going back to the drawing board, making tweaks to improve security and add new features. Security is an important feature that all trading platforms should practice, adding an extra layer to help reduce the chances of a cyberattack.
Don’t you like to try things before you buy? Well, with IG Trading, you can! Get a chance to get a feel for the app before you signup and create an account, trying it out for size. You won’t have to deposit to check it out, simply heading adding it to your preferred mobile device and taking it for a spin.
The Superhero mobile trading app comes with zero monthly fees and no brokerage fees. It won’t cost traders anything to browse markets, buy, or trade.
Traders won’t need a ton of money to start investing, with some markets accepting trades as low as $100.
The app is interactive and filled with educational tools that can help traders take their skills up a few notches.
- Flat Fees. While there are brokerage fees, they never go over $5 for ASK shares. Traders can score $0 EFTs and US Stocks too.
- Low Minimum Fee. Traders can get into most markets with just $100.
- User Friendly. From the website to the app, traders will have access to tons of educational resources that they can use to help them make better trades no matter what their level is.
- Real-Time Data. To stay in the know, traders can score access to real-time data, seeing how the market is really playing out. Using this data, traders can buy and trade more mindfully.
- Lacking Features. When it comes to features, many other trading apps leave them behind.
- Not Global. Besides access to shares from Australia and the US, traders won’t really find anything else.
Key App Features:
No Monthly Fee
Trading platforms can charge monthly fees if their fee structure allows, which takes profits out of users’ pockets. While there are not too many truly free or low-cost trading platforms on the web, Superhero is one of them.
They don’t charge users fees to keep their account open and they keep their brokerage fees flat. They help traders keep more money in their pockets so that they can get back to the stuff that matters.
Apart from a look at charts and news, the Superhero app allows traders to create watchlists, which they can customize to find the stocks that they’re interested in. when stocks drop to a certain value or when they go up, it’s good to know so that traders can make more decisions to buy or trade.
On top of watchlists, traders can set up alerts too, notifying them if there is something that deserves their immediate attention.
Flat Brokerage Fees
Brokers have to make their money somehow. Still, some tack on fees to things like interest or other things to keep fees for frequent traders lower. Superhero does that, attempting to offer traders an incentive to trade when they want to without worrying about dipping too far below their budget. It costs just $5 flat, and some trades will cost traders nothing at all (like ETFs!).
SelfWealth is free to use and charges just one flat fee of $9.50 for all trades. The app comes with access to all kinds of markets and is optimized to work with all kinds of mobile systems.
There is never an inactivity fee and there are options to sneak a peek at portfolios from some of the most successful traders while you learn the ropes.
- No Extra Fees. While you’ll find brokerage fees, there are no fees charged for the inactivity or subscriptions.
- No Minimum. You can open your account with whatever you have and can keep your balance as high (or as low) as you want it.
- Tools. Check out what some of the top traders are doing by taking a look at their portfolios for inspiration.
- Limited Global Markets. SelfWealth only comes with access to US and Australian markets.
Key App Features:
No Charges for Inactivity
Some accounts out there are not the best for investors, charging once there is no activity. While some accounts start to charge when inactivity extends past a year, others tack on an inactivity fee in as little as one month.
SelfWealth doesn’t do that, allows traders to jump in and make trades when they want to or settle on shares and hold on for a while. Not all traders that choose a trading app want to constantly keep trading, benefiting from accounts that won’t charge them for it.
Market analysis tools are just one of the types of tools that SelfWealth offers. In addition to that, there are portfolio analysis tools that will take a look at an investor’s portfolio and grade it based on its health. A look at the overall value and the value of individual assets is what traders will find, and it’s all accessible from the mobile app.
Trading on a desktop is fun, but there is nothing quite like trading with a mobile device. For starters, traders actually get to swipe, tap, and double-click their way through trades, really getting into it. SelfWealth’s mobile app is designed with ease in mind, where traders can navigate, buy, sell, trade, and learn with the click of a few buttons.
If you’re looking for US and Australian shares, Stake is a great trading app. You won’t pay brokerage fees and you can kiss other fees goodbye while you’re at it.
The platform is simple, interactive, and visually pleasing, allowing you to browse the market, learn, and trade at the click of a button.
- Limited Markets. While this app is great for the US and Australia, it’s not the best for global options.
- Limited Features. While you’ll find some tools, you won’t find as many when comparing them to other trading apps.
Key App Features:
With Stake, Australians have access to all kinds of assets. Not only do they have tons of options within ASX, but they also offer access to top Forex accounts, some of which feature the most brag-worthy stocks like top social media platforms, top tech companies, and even telecommunications.
From domestic stocks to crypto to purchasing within the NYSE, traders have options to do it all from one place.
Zero Brokerage Fees
Even with all of the options to choose from, Stake doesn’t get greedy and starts to rack up the charges. Instead, they make sure to keep them at a minimum, charging mostly nothing for brokerage across the board. ETFs and other US stocks are tradable without brokerage fees, allowing investors to keep more in their pocket and spend less.
No-Hassle In-Depth Analysis
For details about the market that affect your ability to trade, you don’t want just any form of analysis. Stake comes with in-depth analysis that traders can access right from their mobile phones. Simply tapping the icon will bring up the home dashboard which shows how shares are doing along with suggestions on how to maximize trading days and use investments to the fullest.
Guide to Mobile Trading
Getting started trading with mobile apps is simple, though there are a few things you should know before you dive in. Whether you’re a seasoned investor or just starting to embark on your journey, you’re sure to find useful information here that will help you take off and start trading in no time.
How to Choose an Online Broker
When it comes to choosing solid trading options in Australia, there are a few key things that traders should look for. When choosing our list of the 6 best stock trading apps, this is what we looked for in the brokers that provided them.
The Cost 💰️
We’re not just talking about what they advertise. Take a second to read the fine print and really get in the know of what trades will cost you. A lot of brokers out there tack on costs that you might not be aware of if you’re just browsing around. Some examples out there are cost per trade, inactivity fees, and even deposit and withdrawal fees.
All of these things add up and could result in less return on your investments. Don’t wait until you get hit with fees to figure it out, and make sure that you understand the fee structure before you sign up with any broker.
Customer Care 📠️
The last thing you want when you run into trouble is a lack of customer care. We made sure that our guys have customer service that cares, and that is actually there.
Some brokers do a great job of making their contact info visible. Others will send members on a scavenger hunt to find useful information. We like to see brokers that encourage members to contact them for questions or doubts, adding more than one way to get ahold of them. Look for brokers that offer:
- A phone number
- An email address
- A chatbot
- A list of FAQs and answers
- A forum with user interaction
The Platform 🖥️
When everything checks out on the safety end, traders can start looking for preferences, including the platform and the app. If it’s fun to use, you’ll be more apt to feel comfortable using it for buying, trading, and selling.
That’s why we check out the broker’s platform, taking a tour around all of the most used areas. Included on that list are charting and market analysis areas, buying and selling areas, and areas where you can process deposits and withdrawals. The market moves fast, and so should your broker, able to keep up with all of the swift changes that come about during a trading day.
The Benefits of Research: Why and How To
Finding a broker that fits your financial needs and goals is one of the most important parts of trading. A close second is researching the market finding out which ones to buy into and which assets to choose.
Choosing a market and the options within them for investing and trading is difficult and takes time to understand how to do like the pros.
One of the simplest markets for trading is known as ETFs, which also come with lower risk in most cases. ETFs feature assets that are bundled together, which can help new and seasoned investors buy into something with more confidence.
ETFs are not the only stocks out there that are great for investors of all levels, as it just depends on what is happening in the market and across the globe.
Research is the best thing that traders can do, getting them prepared for what the market is going to do and how they can invest in it to turn a profit. Research shouldn’t just cover one or two stocks but, should expand across the market and other markets that are sure to affect it.
All traders and investors are encouraged to keep up with the latest news and keep a close watch on what stocks are doing before they decide to buy, sell, or trade, to get the best out of their invested amount.
Though you might want to refrain from diversifying as a new trader, seasoned investors can take steps to grow their portfolio with the help of research, making one that works for them and their financial goals.
The Cost of Trading Stocks: What you Need to Know
A lot of traders start to dream big before their first trade. They look at the amount they have to invest and take a look at a company that is on the rise and start to imagine what the positive slope could mean for their pockets.
While that’s not a bad place to start, it’s always good to factor in costs and really find out how much it is to trade.
Brokers have expenses weaved into their services in one way or another, each way having something that could affect a trader’s overall revenue. Thanks to the internet, there are brokers of all kinds out there that do not charge a brokerage fee, allowing traders to log in and start trading without having to worry about fees.
Still, that doesn’t mean that investors will get off scot-free if they trade, as ETFs and mutual funds come with a little thing known as expense ratios.
The group of assets within an ETF are managed by a person that is paid a percent annually. That percentage is paid by all investors, sometimes adding up to 0.1% of investments. To put that into perspective, that could mean that, for every $1000 you have invested, you’ll have to pay $1.00 in expenses each year. While on this scale it doesn’t seem like much, it can definitely add up.
Consider Risk Too
It’s not always fun to think about the risks but, it could be the thing that saves the day when investing and trading. Losses do happen and, in most cases, investors are not prepared in the slightest. A good way to start treating risk is to take a step back and think about what would happen if the asset all of a sudden dropped 50% of its value.
What would your next step be? Would you buy, sell, trade, stay? All of these are key questions to determining what your next moves will be. If you said to buy more, you have a higher tolerance for risk, looking at it as a way to buy low and make your lost investments back when the market kicks back up.
Of course, high-risk tolerance is more doable for someone that has a solid set of funds to fall back on. Those without emergency funds that they can dip into might need to act more conservatively overall and really make a plan for the worst. If the market drops, think of what your next moves will be and plan your investments from there.
Trading and Taxes
Another thing that a lot of investors fail to consider is their taxes. Taxes are an important thing to consider, and they can put a damper on the value of your investments if you’re not careful. In most cases, Aussies will have to pay taxes on the profits they make on their investments, something that is referred to as capital gains tax.
One of the main reasons for this tax structure is that it encourages investors to buy and hold onto stocks long term, cutting down the taxes for money that’s invested vs. money that’s sold and traded.
The amount of taxes will go up if your investment turns a profit and will go down if you wind up losing value, making it something all investors should keep track of while trading.
For those that are into trading and looking for ways to decrease the amount of taxes they will have to pay at the end of the year, it’s a good idea to start taking a look into alternate accounts that can offset brokerage accounts. There are many options of this sort, all of which could work to help maximize profits and reduce the amount of taxes paid on investments every year.
How to Trade your First Stock with a Trading App: Step by Step
If you’re ready to get in on the action and have decided that you’re ready to start trading, then the first thing you’ll need to do is pick a broker. Once you have the one that you would like to invest with, then just follow these steps to buy and trade your first stock with a mobile trading app.
Step 1. Create an Account ✅️
As a new trader on a brokerage website, the first thing you’ll need to do is create an account. You can do that by finding ‘Create an Account on the homepage of the broker you selected. Then, simply fill out the required info, choose a username and password, and then head over to your email to confirm it.
Step 2. Download the App ✅️
Before you move on to the next steps, you should download the app so it’s up and ready to go when your account is open and approved.
Step. 3 Verify your Identity ✅️
Because you’ll need to connect your payment information and your tax id, you’ll need to verify your identity before you can get full access. To do that you’ll need to provide a valid id, your tax id, proof of address, and proof of banking account. All of that together can take up to 24 hours, so make sure that you’re prepared for that before you start the process.
Step 4. Log In ✅️
When things are ready and approved, it’s time to log into the app. If you’re a new trader, take advantage of apps that offer a demo account, using that before you add any of your personal funds. If not, take the app for a spin and make sure you know where everything is at before you add funds.
You might want to opt for a tutorial if there is one, getting a feel for where all the most important things are so you can make moves quickly when you need to.
Step 5. Research ✅️
Like we mentioned above, it’s recommended to do some research before you make your first trade. Take a look at what the market is doing using the apps analysis tools and decide what your best move is.
Take it a step further if needed and do some research outside of the app, looking at breaking news and events that could affect the companies that you’re looking into investing with.
Step 6. Find your Stock ✅️
After researching, you may have found the stock you want to invest in. If you did, you’ll need to find it, heading over to the search bar and typing in the name. Once you find it, take a look at the price, seeing how many shares can fit into your budget.
Step 7. Add Funds ✅️
Using one of the accepted payment methods, add funds to your account. Be sure to set a budget and keep that in place while trading, making sure that you don’t overdo it. Select the payment option, the amount, and add funds, moving one step closer to owning your first stock.
Step 8. Buy your Stock ✅️
When using a mobile trading app, you’ll have a place where you can log in and buy, sell, or trade. Once you select to buy, be sure that you configure your account the way that you want to. That means adding stop losses and other orders that will keep your investment safe. Once you get it set up, buy it and consider yourself an official stockholder.
Step 9. Monitor ✅️
When you buy your first stock, your job is far from over. You also have to keep an eye on it and make sure that things are going as planned. If you’re like a lot of traders, you don’t have time to sit and watch the fluctuations on the market, which is why you should add notifications to your account.
These will notify you of important things like price drops and more, making sure that you know what’s going on at all times and can get notifications so that you can decide what your next moves will be.
Creating Trading Strategies
If you’re a true beginner, you’ll need some time to get a real feel for the market before you start developing a trading strategy. You’ll start to grow into what you like and move toward the things that work for you. Once you get the hang of it; you can move on to more advanced trading strategies to start growing your investments.
One strategy is options trading. Options trading comes with a lot of volatility, meaning that it comes with higher risk. The higher risk options with stocks could mean trouble for traders that don’t know the ropes, but it could mean a huge jump in value because of the risk.
Another strategy is trading on margin, which allows the trader to borrow from the broker to trade stocks. Again, this is a strategy that comes with a lot of risks and can mean that traders walk away with much more than they came with.
Margin traders can also take a look at a short stock, which entails selling the stock now and buying it later in hopes to make a profit from the difference. Again, this is not an option that’s recommended for the faint at heart, as it takes some in-depth analysis to get into and requires that all traders know that they’re getting into it before they buy or sell.
Advanced strategies are out there, and they come with a lot of opportunities to make a profit but, they are not recommended for new traders. Traders that are barely making it on the market and learning the ropes are advised to stock with easier trading first, building up their value and then taking it to the next-level little by little.
Pros & Cons of Mobile Trading Apps
As a trader, you always have to weigh your odds. Mobile apps for trading come with a lot of conveniences, though they are not the best option for everyone. Are mobile apps the perfect addition to your trading setup? Let’s find out.
- ✔️ They’re 100% mobile! Buy, sell, trade, research, and learn, all from one spot and, take it with you wherever you go.
- ✔️ Usability – Mobile apps are simple to navigate and easy to use, most of them featuring all of the most-used features right on the home page.
- ✔️ Configurable – From the notifications to the setup on screen, traders can change their app to work they want it to. Add alerts for price drops or set up market orders to stop losses and reduce risk.
- ✔️ Quick Access – All the latest news and market trends are just a click away at all times, some of them even triggered by automatic alerts.
- ✔️ Security – Mobile trading apps come with full encryptions and more security to keep traders safe. Traders should always practice secure practices when using mobile apps, logging in with secure browsers, and protecting passwords.
- ✖️ Limitations Apply – Though you can do virtually anything, no app is 100% inclusive. Some apps come with a limitation and only allow for a certain set of actions.
- ✖️ Space – When analyzing the market and comparing and contrasting graphs, mobile devices just don’t have the size. It can be difficult to see and uncomfortable for in-depth analysis.
- ✖️ Quickly Outdated – Apps are part of a vigorous release cycle, getting left behind quickly if they don’t keep up. Brokers have to keep them updated and stay in the know about the hottest mobile app trends.
Trading Tips for Aussies 📝️
We know you’re probably excited and ready to take off and start trading. Before you do, check out these top tips for trading, incorporating them into your next trading day.
Tip #1. Plan
There is nothing worse than a trading day without a plan. Take a second, set your budget, browse your markets, and have a good idea of how you want to execute your plan.
Creating an investment or trading plan is not something that you can likely do too quickly, taking time to really consider your every move. The best investors and traders are well-prepared, able to execute their exit strategies in seconds if things start to go in an unexpected direction.
Pro Tip: No matter what level of investor you are, it’s a good idea to take a look at what other investors are doing. It gives you a different angle of the market and may help spur an idea that wasn’t there before. Take advantage of brokers with social and copy trading to amp up your strategy.
Tip #2. Research
Research is what helps to keep you out of the red and helps you make more informed trading decisions. Make sure that you do your research, knowing exactly what moves to make and when.
Good research requires good tools, some of which top brokers out there will have. Use the tools provided by brokers to take a look at charts and trends before making any trades. Remember, you’re not limited to the platform you choose, though many of them offer advanced tools to really get a good feel for the market. If possible, add in integrations along with your platform for a more in-depth look at the market.
Pro Tip: The market has a lot to do with current news, which is why it’s recommended to vary your sources. Don’t just look at economic news but take a look at global news or any other news that could directly affect your investments. The more you know about what’s going on in the world, the more you’ll understand how the market works.
Tip #3. Configure
Most modern trading apps allow you to configure your account to avoid losses. Use a stop loss to keep from losing your investments and take advantage of auto trading when prices hit exactly where you want them, even if you’re not around to do it yourself.
Don’t just stop there either, making sure that you allow your trading app to send push notifications. Some of the notifications that the best apps send out include price drops and breaking news, both of which could be a key opportunity for buying, trading, or selling.
Pro Tip: Don’t just execute any order and don’t allow for all notifications. Take some time to really consider what’s most important for you and configure your account accordingly. There are a lot of good things that can come from configuring your account, so make sure to take advantage and start enjoying a more advanced way to trade.
Tip #4. Tweak
The market is changing and evolving all of the time. For that reason, traders always are adaptable. Adjusting to changes in the market and tweaking strategies based on those changes is a way to stay up-to-date and keep from getting left behind.
For investors, research is typically more important, checking the history of assets along with projections. Traders, on the other hand, should stay on top of the market and change with their assets as often as possible. The more fluid investors and traders are, the better they can be at picking and choosing the right stocks for them.
What are Mobile Stock Trading Apps? 📱️
The stock market has been around for a long time, evolving with the times. While you used to have to call in to make your trades, the web changed that, allowing traders to conveniently buy online. Online trading too, has evolved thanks to mobile apps.
Desktop versions are convenient, but apps feature a user-friendly design that’s made for quick access. The modern trading app is a revolutionized way to buy, sell, and trade, where investors can use the help of technology to trade better and keep a better grip on the market.
It’s not just about that either, with access to trends, analysis tools, and news, all from one app.
Because of the opportunity, trading apps bring to investors and traders, they are a hot commodity, one that all of the best brokers in the business are adding to their setup.
Best Stock Trading App Features
Just like any other app out there on the market, not all of them are created equal. Some apps have really gone above and beyond when developing features, on the lookout for all of the top things that investors want and need to trade more efficiently.
Below, we’ll take a look at some of the features that you can expect when you invest with top brokers.
Mobile trading apps are about much more than just trading. One of the most advanced features you’ll find is streaming quotes, one that highlights current prices and trends within the market.
The best apps on the market offer members a way to tap the app and get a real-time look at what’s happening, using that knowledge to decide whether or not they’re ready to trade.
Looking at data is difficult. It’s hard to assume things when data is only in its numerical form, which is why charting is so powerful. Top brokers have taken charting technologies and built them into their mobile apps so that traders can have a look and better understand market trends.
Traders can even select the type of graph, really getting into analyzing events and making key moves to make more mindful trades.
Technology can do a lot of things, one of which is pickup on triggers that investors might be on the hunt for. Instead of leaving traders to look at their phones for hours to try and find the signs, mobile trading platform app technology does it for them.
Some examples of things traders want to know about are price drops, increased prices, news about assets of interest, and breaking market news.
App notifications are configurable, so traders have to find those that they want and select them. Setting them up in the right way could mean instant access to news that matters, alerting traders to log in quickly and see what’s happening.
Because the market deals with finances, it’s critical to always have an idea about what’s going on. That’s why most of the best apps on the market feature in-depth account information. Traders can tap the app at any time and get instant access to their investments and check their account balances.
Advanced Feature: Some apps offer a complete analysis of traders’ entire portfolio, giving some suggestions about stocks they might like to invest in and other tips to maximize their investments and reduce the risk within their portfolio.
Market simulators are a great way for traders of all levels to create a strategy and better learn about the market. A lot of the best apps out there come with market simulators that traders can take for a spin with virtual cash.
These simulators offer real-time data, access to charting, and even a look at what the market is doing so that traders can get a feel for the real thing.
Then, using their virtual cash, traders can invest, seeing what it does from start to finish. From there, they can make moves to trade or to sell, learning how all of it works and getting the hang of things before they add any real cash.
Direct Order Routing
One of the most advanced features on the market is direct order routing, a technology that helps traders get an edge over their trading. It works by using advanced analytics to match traders with assets that would increase the profitability of their portfolios and recuse the risk.
These are presented as suggestions and allow traders to make a decision based on the analysis.
How We Rate Stock Investing Apps
Before we introduce you to the top 6 best stock trading apps on the web, we’d first like to provide some insight as to how we put rank them. When selecting those that are worthy of a spot on our list, we try to choose those with a variety of features to suit all kinds of investors.
Apps are popping up daily and you may have one that is on your radar, that didn’t make it to our list. You too can check out just how good they are by taking a look at all of the top things we look for when selecting the best trading apps on the web.
When we start our hunt for the best apps, we always start with a look at their regulations and licenses to operate in Australia. We do not include any trading apps that come from brokers without regulations, as that could raise more than one red flag.
First of all, brokers without a regulating body and license are illegal to operate. Second of all, without regulations, investors don’t have protection in case something happens with their investment or with the broker. Lastly, there is no guarantee that the website is safe and that the broker is operating under a certain set of standards.
All of that and more is why we make sure all brokers are regulated, only providing the safest and most legit options you can find on the web. In Australia, most entities are regulated by the Australian Securities and Investments Commission (ASIC).
Once all of the legal stuff checks out, the next thing that we try is the app out. What we’re looking for is a solid user experience, one where we can navigate through the app easily and execute all of the orders that you would want to. We not only try the apps out on one device but many, seeing how it adjusts across platforms.
We click buttons and open up tabs so that we have a good idea about how the platform performs and what kinds of tasks there are to make trading easier and more efficient. If applicable, we do try out the demo accounts, seeing what it would be like to make a trade and going through the entire process step by step.
There is no use in downloading an app that doesn’t provide you with the financial options you want. While you may have your heart set on one, you still should keep your options open so that, if you want, you can diversify your portfolio. This would require access to different markets and a wide range of assets.
All of those that are included on our list have more than a few options when it comes to choosing assets, some of the apps coming with hundreds of options in which traders can buy, sell, and trade. It could be a good idea to look at what online trading platforms offer before signing up.
When we make our list, we also take your finances into account. All brokers have a different fee structure. This structure is the way that they make a profit, which they can do by collecting revenue in a number of ways. Trading apps for traders and for brokers are different, each of them coming with its own set of fees that are either better or worse.
Traders don’t want fees added to each trade just like investors don’t want fees for inactivity. While we search for apps that have fees both for traders and investors, we also look at other fees to make sure you’re keeping more of your finances and losing less of them to charges just to have an account.
This is one that most new traders will miss, not understanding the spread and how to keep an eye out for it. The spread is the difference between the buy and sells price of a stock, which is where sellers and traders typically make their money. We check out the spread and make sure that it’s not too high so that, again, you keep more of your investments.
Trading Tools and Features
Most of the stuff above has been critical and, once that checks out, we’re on to the finer details. One of them is trading tools, which can make all the difference in your trading experience.
We like advanced tools and features like copy trading, automated trading, and even real-time charting. Most of the top brokers have their own trading tools and also come with options to add integrations if traders need more.
Apart from the top interactive tools, we make sure that traders can customize their accounts the way they want, getting access to the latest updates without the need to stay logged in all the time.
Instead, the best apps have automated notifications that will inform traders about price drops and fluctuations within the market that would be of interest to traders.
Research and Analysis
We know that there are some traders out there that rely on luck to make them money, but, that’s not recommended. Instead, trading and investing should be accompanied by research, all of it helping traders understand what they’re getting into and how to trade.
That’s why we check for the opportunity to do research and analysis, looking for today’s hottest analysis tools.
Things like charting, access to breaking news, and even customizing indicators, we choose apps that offer research and analysis for all traders, ensuring that they can choose wisely.
Not all traders use the same device. For that reason, we like to see apps that have a lot of compatibilities. Not only iOS and Android but that also work with other devices such as Windows. The more devices, the more available the app and the broker are to traders of all kinds.
Traders prefer different ways to fund their accounts, which is why a broker should offer more than one. We like to see a variety when it comes to adding funds and withdrawing them, making them available to all who would like to use them. Not only is it about the methods, but also about the fees for adding and taking them out too.
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