The stock market is a fantastic place to grow your money. It’s still up there with the best ways to make money, but it isn’t always easy.
It doesn’t matter whether you’re looking for short or long-term investments because even day trading can net you huge gains if done right. The problem is that the stock market has become highly competitive over the past few years. There are all sorts of people out there trying to scalp stocks and make millions off of little old investors like yourself.
The good news is that technology has advanced so much, you now have access to some fantastic tools that give you a real chance at succeeding in this cut-throat business.
To provide some context and guidance as far as apps go, Here is a list of the best stock trading apps to use.
#1:Saxo Bank Australia
Saxo Bank has an award-winning trading platform with a great selection of tools; below are some of its features:
Key features:
- Enhanced trade tickets
- Fundamental and technical analysis tools
- Extensive charting package
- Options chain
- Performance analysis
- Comprehensive account overview
Asset classes:
- Access stocks
- ETFs, bonds
- mutual funds
- managed portfolios
- options
- futures
- other leveraged products
Interface: Supports one-screen setup (you can drag the chart to the second screen). Access through both mobile and desktop.
Read this article for more information.
#2: Robinhood
Robinhood is a free stock trading app that has become extremely popular in recent years. This is because they offer commission-free trades to investors who are also looking for an easy way into the business without having to pay much – if anything at all.
There are some downsides to their service. Although you can take advantage of many different stocks, only equities are available on the platform. That means that you have no access to other assets or derivatives, which could limit your growth in the long term. This is why it’s so important to diversify when entering financial markets. The Robinhood platform does have a news feed that you can use to keep up to speed on the latest happenings in different industries. Still, it’s not as extensive or informative when compared with services from other providers.
#3: ZuluTrade
ZuluTrade is another excellent app for beginners because they offer a social trading service that allows you to copy other people’s trades easily and mirror their success without committing your own money. This is a great way to get started if you don’t feel ready yet, or you could even use it long-term, depending on who you follow and how well they perform. The only problem with this kind of system is that it can be very time-consuming if done manually, especially for a beginner trader.
#4: Thinkorswim – formerly known as TD Ameritrade
The platform includes live streaming prices, advanced charting and even a social network where you can discuss your strategies with other traders.
The only problem is that this service isn’t free- you will have to pay a monthly fee after your first 30 days unless you choose to go ahead with a full account opening; however, if you’re serious about your trading and don’t mind paying the fee then.
Bottom line
There are many great tools out there that will enable you to take advantage of what’s happening in global markets, but it’s essential to pick the right ones for your needs. Look around and take advantage of any free trials that are available before you commit your cash because there is no point in investing time or money into something that doesn’t meet your requirements! Keep exploring until you find a service that offers everything you need at an affordable price, even if it means trying out more than one app.
This will give you the best possible chance of success because it allows you to be flexible, which is one of the keys to becoming a successful trader.
There are plenty of free stock trading courses that teach everything from investing basics to advanced strategies, so there’s no excuse not to take advantage of all the available great information.
