The financial market has two key types of traders, the long-term investor, and the short-term speculator. The investor is in the market for the long haul, allowing their stakes to simmer in investment accounts until they are ripe for huge returns. The speculator is a hands-on type of capitalist that loves to manage their assets via agile trading.
The proliferation of internet services has lowered the barrier of entry to the financial market for all investors. Today there are varieties of easily accessible online trading platforms, to match just about any trading preference, strategy, or need.
The best of them have a trading app that makes it easier for traders to conquer the market. So how do traders choose the right trading platform? Choosing the perfect share dealing platform is a critical decision that should be influenced by factors such as;
- Security: Ensure that your platform of choice is regulated by a robust licensing body and is credible
- Trading fee costs: Common charges in FX trading are paid as commissions or cut from the spread. Look for brokers that have friendly rates.
- Ease of withdrawals: While most platforms have easy cash deposit procedures, the less reliable broker complicates the withdrawal of profits, commissions, or capital. Work with platforms that have a smooth, transparent and speedy cash withdrawal process.
- Type of trading platform: Most trading action happens on the trading platform or app, so choose a stable feature-packed, and user-friendly application to work with.
- Fantastic customer service: Problems will arise when trading, so choose a platform with the best customer support.
Without further ado, here’s the list:
1. Saxo Markets
Saxo Markets has an excellent website that has top-notch market research, innovative SaxoTraderGO and SaxoTraderPRO platforms, and a wide variety of quality international assets.
The platform’s mobile apps are brilliant as well, making it easy to execute trades on the fly. SaxoTraderGO for the individual trader is a feature-packed platform with excellent usability, perfect for the new or experienced trader.
Saxo Markets has three account levels, the Classic account, Platinum, and the VIP account. A trader needs a minimum of £500 to open Saxo’s base Classic account. The platinum account has a minimum deposit amount of £50,000, and £1,000,000 for the VIP account. Saxo Markets has a Financial Conduct Authority (FCA) license.
The AvaTrade platform is home to the remarkable AvaTradeGo app that traders use to buy and sell a wide variety of UK listed and international assets. Its main trading platform has a Windows and Mac version with very useful fundamental and technical analysis tools for the apt trader.
Traders on AvaTrade can alternatively use MetaTrader 4. Avatrade has ASIC, FSCA, FSA, ADGM – FSRA and a Central Bank of Ireland regulatory licenses.
eToro is hands down one of the best platforms for beginners or ultra-busy speculators that do not have enough time to analyze the markets. The platform has a robust social trading network, which offers valuable trading education and copy trading directions from some of the best traders in the market.
eToro’s mobile trading app is available in Android and iOS versions. Its downside is that it only accepts the US dollar trades for transparency. eToro (UK) Ltd has an FCA license.
Plus500 is perfect for the trader interested in multiple financial assets and markets. This trading platform has both Windows and iOS compatible versions and a mobile version of Plus500 that works with Apple devices such as its iPad, iPod, and its watch.
Its mobile apps are a pleasure to work with, making it easy to use the Guaranteed and trailing stops. Plus 500 is licensed by the FCA, and its shares are listed on the London Stock Exchange (LSE).
5. IG Markets
IG Markets has been in the trade for over three decades and has numerous active clients. Its platform has very attractive commissions and charges. Its native IG Trading Platform has some of the best trading features on the market, complete with an intuitive mobile app with the best charting package.
Newbies on IG Markets will enjoy the platform’s robust education features, weekly webinars, live sessions, and a variety of trading courses. IG Markets has a Bermuda Monetary Authority license.
Trading apps keep the latest financial world events, developments and news at the trader’s fingertips, and enhance mobility while trading. In trading, it is crucial to have a mobile means of keeping tabs since the market is open 24 hours a day.
Most prominent trading software like MetaTrader 4 or 5 have mobile versions, but there are apps also built to cater to specific market purposes such as gamification of the trade or market news reporting. It is important to have a variety of apps for an all-rounded trading toolbox.