If you’re an online trader, then yours is a busy and high-pressure lifestyle. You’re constantly checking markets, watching your investments to see how they’re performing, and trying to stay one step ahead of the curve. Your powerful smartphone is always in your hand; you’re either talking to contacts or checking financial news to get information as and when it happens and make judgements accordingly.
Put simply, the life of an online trader is an extremely busy one indeed. With that in mind, you’ll need a powerful suite of tools at your disposal to make the process of online trading easy. It’s hard to imagine a modern online trading lifestyle without a range of apps to make things easier and speedier; every single one of us is glued to our smartphone twenty-four hours a day, and this is true for nobody more than the online trader. Whether you’re just starting out or you’re a veteran, check out this list of the best apps all online traders should be using.
Stash is the perfect app for those who are looking to grow into the world of online investments. This app is strictly for beginners; its comprehensive suite of tutorials and assistive tools won’t benefit the seasoned trader much, but newbies will appreciate its intuitive approach. When you sign up to Stash, you’ll be asked to fill out a quick questionnaire concerning your investment profile. Stash combines the answers you give with a well-researched set of factors such as fees and past performance to suggest sensible investments for you. Combine this with a great set of tutorials and the Auto-Stash trade-while-you-work feature, and you’ve got yourself the perfect app to get started on trading. It’s free for the first month, then Invest accounts will set you back $1 per month and Retire accounts will cost $2 per month. There’s also a fee of 0.25% per year once you’ve got an account worth $5,000.
If you’re the kind of person who likes to let the pennies look after themselves, then look no further than Acorns. This app and its portfolios are developed in partnership with Dr. Harry Markowitz, who won a Nobel Prize in 1990 for his work in economic theory. That pedigree should tell you a little bit about how well-designed this app is. Visually, it’s great; its menus are clear and it’s always obvious what function the app is performing at any given time. Acorns will take your latest credit and debit card transactions and “round up” the amounts to the nearest dollar. The difference between the amount and the actual payment will then be invested in portfolios Acorns chooses for you based on a survey you fill out. There are plenty of extra features for those who are well-versed in trading, so this app is a great all-rounder.
Unlike its namesake, Robinhood won’t let you rob from the rich and give to the poor, more’s the pity. Rather, it’s a fully-featured trading app which offers the ability to trade stocks with no commission and no transaction wait time. The app is beautifully designed and executed, allowing users to trade both stocks and crypto with ease. It doesn’t come with in-built analysis, unlike many of its peers, and it won’t assemble a portfolio for you. Those who are experienced in trading, though, would do well to give Robinhood a try. Unlike the previous two apps on this list, Robinhood is totally free, too, which more than makes up for its comparative lack of in-depth features in our books.
Go Options App – Google Play Store (Free) / Apple App Store (Free)
Before you jump into the real-world of trading, it might be a wise idea to begin practicing, after all, practice does make perfect. The true advantage with a practice account is that you don’t risk losing a penny allowing you to sharpen your skills risk-free. With that said, Go Options is an app designed to deliver a binary trading experience with accurate market data – you have the ability to trade without any boundaries or restrictions. One nice feature is the inclusion of cryptocurrencies; the digital currencies that has had the trading world on alert. For those who have little to no experience, you have access to a super-charged guide that will walk you through the important steps of trading, you can also click here to garner additional advice and tips from Binary Options Expert. Once you are familiar, you’ll be prepared to challenge your friends and attempt to become a true trading expert. Go Options is available on iOS and Android.
Nutmeg was originally created as an accessible, intuitive online wealth manager, and has expanded to become a full investment platform. Users can utilise Nutmeg with as little as £500 starting capital, which is great news for those who aren’t yet established as traders. This app is great for those who are investing to save money; Nutmeg asks you what you’re saving for when you first sign up, then delivers a recommended portfolio of ETFs (exchange-traded funds) based on your profile. The ETFs Nutmeg presents include equities, cash, and corporate and government bonds, so you’ve got a lot of choice. Nutmeg doesn’t lie to you about pricing and it doesn’t hide any information; you can check your portfolio 24 hours a day, 7 days a week, and you can always withdraw cash with no exit fees. This is a fantastic app with a huge degree of transparency. Nutmeg charges 0.75% on portfolios up to £100k, and 0.35% on portfolios over £100k.