Best Trading Apps: 2022 List
With regards to the other apps which made it to the top 10, they vary in terms of strengths, weaknesses, and features – for example; XM is one of our top Forex & CFD apps, and Capital.com is a brilliant mobile app for exchanging cryptos.
Overall, the
most important thing for us when looking at the best apps is whether or not
they are regulated by bodies like the FCA, SEC, FINRA, MiFID, CySec.
Best Online
Trading Apps 2020
You can
download all of the following mobile apps from online brokers for free.
- 1. eToro: Best overall trading app
- 2. Capital.com: Best for global CFDs
- 3. Moomoo: Best for US stocks
- 4. XM: Best for worldwide trust
- 5. Plus500: Best for active traders
- 6. City Index: Best for customer service
- 7. Robinhood: Best for free stock trading
- 8. Freetrade: Best for stocks/shares UK
- 9. TD Ameritrade: Best for US stocks and ETFs trading
- 10. Forex.com: Best for forex
What is a
Trading App?
A trading
app is a mobile application which you can use to trade different markets. These
apps are usually free and serve as an addition to the main platform offered by
brokers.
In this
guide, we’ll be taking a look at the different available types of mobile
platforms and answering some of the most commonly asked questions.
Types of
Trading Apps
Not all
mobile trading platforms are the same. They vary in terms of what you can
trade, where you can use them and regulation. Let’s now take a look at some of
the different types of mobile trading platforms out there.
Stock
Trading Apps
Stock apps
are mobile trading applications which allow you to buy and sell stocks which
are investments in certain companies which sometimes pay out dividends and thus
can act as a form of passive income.
Stock
trading apps are popular as they offer the general public a way of profiting
from the economic growth of companies. If you think a company will do well in
the future, you can put your money where your mouth is by buying their stock
using stock trading applications and then selling it if/when the price of the
stock goes up.
If you live
in the United States, I would recommend that you use either TD Ameritrade,
Robinhood, Charles Schwab, or the E-Trade stock app for stock trading.
If you live
in the UK, I would recommend Freetrade stocks app for free trading.
For global
stock trading, our favorite mobile trading mobile app is eToro, although eToro
is a CFD trading platform, so you don’t actually own the stocks, but you can
still profit from them.
Forex
Trading Apps
Currency
(Foreign Exchange) trading is another popular type of trading globally.
One of the
main reasons people like trading forex is that unlike stock trading, you can
trade forex 24 hours per day, 5 days per week – therefore there are far more
opportunities to trade the market.
A lot of
people who trade stocks turn to forex after the stock market closes for the
day. Forex trading platforms aren’t too dissimilar to the other apps listed on
this site, the only difference is that most of them connect to a mobile app
called MT4 which is basically the standard for forex trading.
That being
said, there are some forex apps that have native charts – these are my
favorite. Forex trading is more global and in some cases, easier to do than
stock trading.
If you’d
like to have a go trading some forex on mobile apps, then I recommend you check
out Forex.com or XM – both are 2 of our top favorite forex brokers. You can
also check out our full list of the top forex apps.
CFD Trading
Apps
CFDs, also
referred to as ‘Contracts for Difference’ are financial instruments that you
can trade through a variety of different broker firms.
They allow
you to profit from price movements of stocks, commodities (like oil for
example), indices, shares, forex, and more – all without having to buy or sell
the underlying asset.
CFD trading
platforms are one of the most common types, as they provide an easy way to
trade anything all from one app.
As you might
have noticed from the list above, our best global CFD mobile app is
Capital.com, although eToro also provides a huge range of CFDs globally too,
and has a nice feature that lets you copy other traders.
Bitcoin
& Crypto Trading Apps
The meteoric
rise of cryptocurrencies in 2017 led to a severely increased interest in the
crypto markets.
You can
trade popular cryptocurrencies like Bitcoin, Ethereum, and XRP on several
mobile trading platforms all over the world now.
There are
two main types of crypto trading, one involves actually buying/selling
cryptocurrencies (spot trading), and the other involves exchanging contracts
based on the price of cryptocurrencies (similar to CFDs) rather than physically
owning them – this allows you to use something called leverage which can
increase profits, but also losses.
We’ve put
together a list of our top Bitcoin trading apps.
There are
other types of trading, including options, mutual funds and ETFs – but there
are only so many that we can include in one list, so we kept it to the most
popular and beginner-friendly types of trading.
Are Trading
Apps Legit?
The majority
of trading apps are legit, however, that being said, there are some
illegitimate ones floating around. This is one of the main reasons we started
this site; to help you find only legit and trusted apps.
