Trading on the go has never been easier with trading apps, but what should you look out for when deciding on a broker and an app? Especially as a beginner, this can be a difficult task but don’t worry; we got you covered. Here we have the best tips and tricks for you to help you find the perfect trading app.
Are trading apps useful?
Definitely! Trading apps are great for day-traders since this way, you don’t need to carry around your laptop but can check your portfolio or even make trades on the go. But, be aware that there are also disadvantages to trading apps. Unfortunately, some trading apps have a bad reputation since you don’t get as much statistics, market overview, and information as on the big screen. This is indeed a problem if your strategy or trading method is based on this information. That’s why trading apps are not great for everyone. The other criticism that many people have is that trading apps are too easy to use and addictive. If you catch yourself checking your portfolio every 3 seconds and overthinking every trade, then trading apps might not be the right choice for you. These apps can be a great way to do your trading, but they can also cause issues that you should be aware of.
How to find the perfect trading app for you!
Did you decide that you want to try trading apps? If so, we have the best tips and tricks for you. This way, you can easily find the right trading app for you!
Do your research when it comes to brokers
You are just starting your trading journey, and you don’t even have a broker yet. If so, you need to do your research before deciding on one broker! This broker is the platform where you make your trades, and not every broker is a good one. That’s why we recommend reading the reviews before you start investing. Thanks to the reviews of former and current users, you can get a good impression of this broker.
Decide what you want to trade and what trading methods you want to use
If you don’t know what you want, you are more likely to make mistakes and choose the wrong trading app. The truth is, not every broker offers the same assets and trading methods; that’s why you need to know what you want. How about trading binary options? This trading method is excellent for beginners but also very lucrative. Have a look at these binary options trading tips. Is this the right choice for you? Look for a broker that offers trading binary options and an app.
Use a demo account
Did you decide on a broker with a trading app? That’s great, but before you start investing, we recommend using a demo account to get a feeling for this app. Sometimes it is a legit broker app, but you just don’t get along with the navigation. That’s fine! It is easy to switch a broker if you haven’t invested anything yet; that’s why it is so important to try a demo account!
Test the customer service
Problems happen; that’s why you need to have a broker that you can count on! We recommend testing the customer service by contacting them. How fast is the reply? How helpful is the customer support, and what is your impression?