Any serious trader that isn’t taking advantage of the massive range of trading apps and mobile gadgets out there is definitely missing out. And we’re not only talking about apps that you can use to trade but others that make investing easier than ever before and tools that open positions for you automatically. Obviously, you also want to have the best apps that provide you with the latest market updates and a gadget that helps you keep track of your portfolio.
Because of this, we have listed the 10 best apps for traders right now. These apps can be used by anyone, regardless of previous experience but some are market specific and might not suit your personal goals.
So, without further ado, here are the top 10 apps that every trader needs!
Acorns is the most practical app that you never knew you needed. After you’ve connected the app to your credit or debit card, the app will automatically round-up any purchase you made with that card and invest it in a high-performing instrument.
It’s brilliant and a perfect way to make sure that you’re constantly adding to your portfolio.
2. An Online Brokerage App
Naturally, any trader needs an app that can be used to trade on the go. In the past, people were limited to only opening and closing trades when they were at their computer or even worse the home phone. However, today, anyone can trade at anytime, anywhere.
As mentioned in the intro, a top shelf app with financial news is essential to every trader’s arsenal, and no one does financial news better than Bloomberg. The Bloomberg app is easy to use, and it will ensure that you always stay up to date with the latest economic news and events.
4. SigFig Wealth Management
This innovative app has been designed to help you outline and execute an investment plan based on your specific needs. By doing so, you can avoid spending time on developing your own plan with the risk of it all falling apart. Better yet, every investment plan created by SigFig is guaranteed to be as tax-efficient as possible.
5. An App For Practice and Strategy Development
Even the most experienced trader might need help and support for new strategies at times, and the best solution for this is a trading app for practice, also called a trading simulator.
A good alternative is to use one of the aforementioned online brokerage apps and sign up for a risk-free demo account.
Stocktwits is the social media platform for stock investors and other traders. Think of it as a mix between Twitter and Facebook with the sole purpose of sharing trading knowledge and experience with other like-minded traders.
We can’t emphasize enough how important it is to stay up to date with the latest financial news and tips. As mentioned, Bloomberg is a great option, but traders that pair their app with Benzinga’s app will get a clear advantage over other traders.
Another good source of financial information that can be accessed via mobile devices is BullMarketz.com.
8. An App for Automated Trading
If you’re not already using automation as a part of your trading strategy, you need to consider it, and the best way to get started is with an automated trading app, also called a robot. Most brokers today offer mobile versions of their platforms with the option of automating certain parts.
9. Motif Explorer
This is the perfect trading app for people looking for well-performing portfolios that have been put together by industry professionals. The portfolios offered via Motif Explorer come in a range of setups covering different industries, company sizes, investor goals, and more.
10. Delta Portfolio Tracker
When trading cryptocurrencies, it’s easy to get overwhelmed by the sheer number of options. Moreover, it can be difficult to keep track of all the cryptocurrencies one has bought. But don’t worry. The Delta Portfolio Tracker helps to collect all of your crypto investments in the same app so that you always have a good overview. Better yet, the app can also provide investment tips based on your preferences.