This is a question that is not always easy to answer. Several parameters contribute to this answer: ease of interface for the user, amount of money that can be generated, the user’s ability to withdraw large amounts of money with little effort. But not only that, also the security of the transactions, the commissions imposed on the shares and the payment methods that are supported, and finally also the ease of use. We will talk about this and more in the course of the article.
What is a trading app?
A trading app is a program that can be used on a tablet or mobile phone to be able to freely trade a virtual currency, but also stocks and indexes. A market value is attributed to each of these shares, a value that fluctuates according to the variability of the market: the objective of the trade is to seize the best time to sell (when prices are higher) and to buy (obviously, when prices are lower).
Top 5 trading apps
Don’t worry, you won’t have to spend countless hours to figure out, losing your money, which is the best: we’ve already thought of it, putting them together in a handy list.
- Plus500 → It is an officially certified app for stocks, but we have observed that up to 71% of the basic accounts registered there lose money.
- Capital.com → it has won the Best Beginner Stock Trading App Award for a few years in a row.
- Trading212 → the strong point of this app is that the sale and exchange of stocks does not impose any commission.
- IG → what impressed us most about this app is the fact that it is available in more than 13,000 markets.
- eToro → hands down, the best trading app. There is no commission or withholding percentages on earnings, and it is spread across more than 12,000 markets with 2000 and more different stock types.
As you may have seen from the list, eToro is the best trading app currently on the market. Let’s see why.
First of all, you have certainly seen eToro advertising somewhere, it is in fact widespread even on television and appears very often on YouTube. The enthusiasm that investors show for eToro is due to the fact that the platform does not impose any fees, it is all 100% with no deductions. In addition to this, no registration, setting up, or other wasted time is required: eToro in fact derives its income from the 0.5% taxes it applies on deposits.
In case you wish to further understand the matter, this is a site that deals with the subject in a masterly way, here you can find the best stock trading apps.
How does a trading app work?
The functioning of a trading app is very simple: you can buy and sell shares for money, which you can then withdraw. However, the first step is to register: we will analyze it in four steps.
1 – Open an account
Opening an account on the eToro website will take you no more than three minutes, and you will need to enter basic information such as your name, date of birth, and some official documents.
2 – Download eToro
You can then download the app directly from the eToro website. Download it from the official site only, so you can be sure you don’t get any unofficial apps.
3 – Log in
As soon as the App download is complete, you will need to log in: it’s easy, simply enter the data with which you registered.
4 – Make a deposit
At this point you can make your first deposit, which should be around $ 200 (it’s the minimum required by the site), now a small fee of 0.5% will be applied, and it will be the only commission that eToro will apply. You can start trading.
What are the risks of a trading app?
These apps operate on an extremely volatile market, so the main risk is to lose the capital invested. We therefore recommend investing only what you can afford to lose, and to proceed with caution in the application interface to maximize your earnings and minimize losses. There is no better way to learn than by doing it.
The conclusion is quite simple: trading applications have revolutionized the world of finance, and in particular eToro has done it more than others. Don’t worry about security, trading apps are safe, and for your inexperience many of them offer a “demo.” Particularly if you are a beginner, eToro is the best choice to start with.