How to choose the best trading app
Learn what to look for in a trading app, and how to choose the best one for you.
What is a trading app?
A trading app is a digital platform provided by an online broker, like Capital.com, that provides access to financial markets on your mobile device with an internet connection. These platforms might offer a variety of asset classes, such as shares, forex, commodities and indices. Trading app features often include real-time price charts, technical analysis indicators and risk management tools.
Trading apps aim to make trading accessible, and convenient for traders to manage their positions anytime and anywhere. Whether you’re a seasoned trader or a beginner, your app should equip you with everything you need to execute your trading strategies effectively.
How to choose the best trading app?
How to find the best trading app depends on several factors unique to your trading style, goals and preferences. As a result, the best trading app will often be different for each trader. However, there are some simple questions that you can ask yourself to help guide you.
- What markets and financial instruments are you interested in? Choose an app that provides access to the markets and assets you want to trade.
- What’s your trading style? Your app should cater to your chosen trading strategies, whether you’re a day trader focusing on short-term price movements or a position trader with a long-term outlook.
- How much support and resources do you want? Look for a platform built to support your development and learning as a trader, with educational materials, customer support and analytical tools that match your needs.
By assessing these factors, you can narrow down your options and find a trading app that aligns with your trading objectives.
Which assets can you trade on apps?
There are various financial products to choose from, and each caters to different traders’ unique needs. Here’s some financial products that you might have heard of, their availability, and why they’re popular with traders.
- CFDs (Contracts for difference) allow you to speculate on the price movements of assets like stocks, forex, and commodities without owning them. CFDs offer leverage, where traders can open larger positions with a smaller initial investment, amplifying potential profits and losses.
- Futures are contracts to buy or sell an asset at a predetermined price on a specific future date. Futures are standardised and commonly used for commodities and indices, suitable for hedging or speculating on future price movements.
- Options give you the right, but not the obligation, to buy or sell an asset at a set price before a certain date. Options can be used for hedging or leveraging positions with limited risk.
- Spot trading involves buying or selling financial instruments for immediate delivery at the current market price. It's common in forex and commodity markets for traders looking for immediate execution.
Remember – align your choice with your trading goals, risk tolerance and the assets you're interested in.
What to look for in a trading app
Now that you know what you want, it’s time to look through the options. When evaluating trading apps, consider how the following features might boost your trading experience:
- Regulated and licensed – ensure that the broker providing the trading app is regulated and licensed by reputable financial authorities. This adds a layer of security and trust, knowing that your funds are protected and the broker adheres to industry standards.
- Fair, consistent and low fees – trading costs directly impact profitability. Take this into account when building a trading strategy or choosing a platform and look for an app that offers low spreads and transparent pricing. If you trade frequently, you could potentially save on costs by finding a trading app that offers 0% commission and zero overnight funding charges.
- Advanced trading tools – charting tools and technical indicators are essential for analysing market trends, developing a trading strategy and making informed decisions. Good trading apps should offer a high-quality range of chart types and drawing tools suitable for different trading strategies and asset classes.
- User-friendly interface – make trading more accessible and efficient by choosing an app with an intuitive and clutter-free interface. Ease of navigation, free educational resources and 24/7 customer support can help to further enhance your trading experience.
- Fast trade execution – speed can be an advantage in trading, especially in fast-moving markets where prices can shift significantly within a short period, and timing makes the difference between a profit or loss. An app with fast trade execution ensures that your orders are filled at the prices you anticipate, minimising slippage.
- Recommended by traders and industry-leading bodies – awards and recognition from leading industry authorities – such as ForexBrokers.com, Online Money awards and Good Money Guide – can indicate the reliability and quality of a trading app. Look for awards that praise aspects of a trading app that you consider important, as well as independent user reviews on platforms like App Store, Google Play and Trustpilot.
- Free educational resources – whether you're new to trading or looking to enhance your skills, access to educational resources can be invaluable. Look for apps that offer tutorials, webinars, articles and other learning materials to help you boost your knowledge and skills. As a bonus, find a platform which provides free, up-to-date market news, signals and alerts.
- Access to global and local assets – pick a trading app which provides a wide range of local and global markets to trade, across asset classes such as commodities, shares, indices, forex and cryptocurrencies. Access to a broader range of assets makes it easier to diversify your portfolio and explore different trading strategies.
- Demo account – choose an app that offers a demo account to practise trading with virtual funds, before risking real money. This could help you test out different trading strategies and markets, and get comfortable with the platform.
Why trade with us?
It’s time to find a reliable brokerage and set your strategy in motion. Capital.com is a multi-award-winning online CFD trading platform with an easy-to-use desktop application and mobile app. Join our community of over 660,000 traders in 183 countries and trade CFDs on 3,000+ assets including shares, indices, commodities and forex.
- User-friendly trading app: Trade wherever you’re online on our feature-packed mobile trading app, and execute trades as fast as 0.03 seconds.
- Ease of use: Find a seamless experience with the information and tools you need to make better trading decisions.
- Advanced trading tools: Charts, drawing tools and helpful resources to help you analyse historical price data, volume activity and trends.
- Competitive spreads and transparent pricing: Know what you're getting with a broker that’s up-front about fees and minimises costs with competitive spreads.
- Risk management: Robust tools like stop-loss* and take-profit orders help reduce risk and protect your gains.
- Educational resources: Guides, courses, webinars and videos to brush up on your knowledge and get up to speed.
- Dedicated customer support: Talk to the team and get a direct response to your queries – Capital.com provides 24/7 email, telephone and live chat support in multiple languages.
- Industry recognition and customer feedback: Choose a broker that’s won recent awards from leading industry authorities. Check out our exceptional customer feedback and ratings on independent review platforms like Trustpilot.
*Stop-losses are not guaranteed.
