The best trading apps let you trade the global financial markets from your mobile phone or tablet and are often lighter versions of a broker’s main web-based or desktop trading platform. We have ranked, compared and reviewed some of the best trading apps in the UK to help you choose the most appropriate account for your investment objectives.
Compare Trading Apps
| Trading App | Markets | CFDs | SpreadBetting | DMA | Investments | Founded | PLC? | More Info | Risk Warning |
|---|---|---|---|---|---|---|---|---|---|
 | 12,000 | ✔️ | ✔️ | ❌ | ❌ | 1983 | ✔️ | Visit City Index | 70% lose money when trading with this provider. |
 | 5,233 | ✔️ | ❌ | ✔️ | ✔️ | 1977 | ✔️ | Visit IBKR | 60% lose money when trading with this provider. |
 | 9,300 | ✔️ | ✔️ | ❌ | ❌ | 1989 | ✔️ | Visit CMC Markets | 66% lose money when trading with this provider. |
 | 178 | ✔️ | ✔️ | ❌ | ❌ | 2010 | ❌ | Visit Pepperstone | 79.3% lose money when trading with this provider. |
 | 10,000 | ✔️ | ✔️ | ❌ | ❌ | 1999 | ❌ | Visit Spreadex | 69% lose money when trading with this provider. |
 | 9,000 | ✔️ | ❌ | ✔️ | ✔️ | 1992 | ❌ | Visit Saxo Markets | 70% lose money when trading with this provider. |
 | 17,000 | ✔️ | ✔️ | ✔️ | ✔️ | 1974 | ✔️ | Visit IG | 73% lose money when trading with this provider. |
 | 2,100 | ✔️ | ✔️ | ❌ | ❌ | 2002 | ❌ | Visit XTB | 77% lose money when trading with this provider. |
 | 100 | ✔️ | ✔️ | ❌ | ❌ | 2011 | ❌ | Visit FXTM | 77% lose money when trading with this provider. |
Use our mobile trading app comparison to compare each provider by account types, what you can trade in, and fees. We only include providers that are authorised and regulated by the FCA where your funds are protected under the FSCS and where customers have voted for them in our awards survey.
Side-By-Side Comparison
Use our side-by-side trading app account comparison to compare the best trading app by pricing, market access, account types and services.
Best Trading Apps 2022
Our picks for the best trading apps are based on over 7,000 votes in our annual awards, our own experiences testing the accounts as well as an in-depth comparison of the features that make them stand out compared to alternatives.
- City Index – best-trading app 2022, excellent trading signals and market coverage
- IG – widest market range on a trading app
- CMC Markets – excellent in-app sentiment indicators
- Pepperstone – good for tight forex spreads
- Saxo Markets – excellent for DMA access
- Interactive Brokers – most suitable for sophisticated traders
- Spreadex – an excellent app with great customer service
Trading App Reviews
Our methodology for reviewing trading apps: When we review trading apps we always open live accounts, deposit real funds and test them by trading in a live environment. We also interview the CEOs and spend time talking to sales and support staff so we can highlight the pros and cons of each account, what markets you can trade in, how much it costs, and how they compare to the competition. We also explain what makes them different and tell you who they are most appropriate for so you can choose the best account for your trading.
City Index Trading App
Pros
✔️ Trading signals
✔️ Post-trade analysis
✔️ Wide range of markets
✔️ UK based
Cons
❌ No DMA
❌ No investment options
❌ No futures & options
City Index Mobile Treading App Review
City Index’s mobile app provides access to 12,000 markets through spread betting and CFDs has just had a facelift with some behind-the-scenes improvements as well.
When I traded on the City Index app I was able to able to access asset overviews, news, and alerts as well as key market info. But, one of the stand out features of the City Index app is the inclusion of SMART signals and Performance Analytics. Having full access to SMART signals means you can keep an eye out for new trading opportunities and place corresponding trades on the move. Performance Analytics also gives the full breakdown how where you have been profitable or not in the past and provides feedback on whether or not you are sticking to your trading plan. Both, mean that the app has a bit more use than just a way to monitor the market when not in front of your normal trading screens.
It’s a well laid out trading app, with the major instruments front and centre, but also the peripheral markets like sectors, thematic indices (like blockchain, NFTs and cannabis), trending markets and options quickly available. The app also has quick access to popular markets, so you can keep an eye on where the days trading volumes are going.
Using and navigating the app is intuitive, with icon-based menus for markets, watchlists, alerts etc. There is a news feed and economic calendar, as well as technical analysis from Trading Central. You can draw and edit charts on the app and add up to four indicators to them. The mobile charting package includes logarithmic sizing and switches between landscape, there is the usual suite of technical indicators from Trading View, but you can’t execute direct from the chart on mobile yet.
Overall City Index’s trading app is a good addition to it’s main platform and should suit traders looking for stimulus and research on the go.
74% of retail investor accounts lose money when trading CFDs with this provider
Interactive Brokers Trading App
Pros
✔️ Institutional trading tools
✔️ Wide range of order types
✔️ Excellent research and analysis
✔️ Investment account options
✔️ Very low cost trading platform
Cons
❌ Desktop version too advanced for beginners
❌ Customer service slow
❌ US based
Interactive Brokers Trading App Review
As with the main trading platforms, IBKR’s trading apps are some of the best around. I tried all three different apps on offer, IBKR Mobile, IBKR GlobalTrader and IMPACT.
IBKR Mobile is the mobile version of the main trading platform and has the most functionality, where you can view your derivatives and investment portfolio, view charting, trade options, futures, and CFDs. You can also access the iBot feature which helps you search for things like dividend dates, corporate earnings reports, and economic events around stocks or markets you are interested in trading. Charting is initially simple, but under the settings, you can add indicators, show live orders, and annotations and change the bar size and chart type.
There is also the IMPACT lens features that measures your portfolio and gives it a ranking based on how ethical your positions are. The news section also lets you filter and search for IBKR news and analysis from The Fly Swawkbox, Real Vision (an excellent premium analysis vlog from Raoul Pal) and Bloomberg.
IBKR GlobalTrader has a slightly easier feel and is focussed more on stock traders. You get inspiration for investing in stocks, based on their sector, price moves, news flow. News is also filtered down based on the positions in your portfolio.
For more ethical investors the IMPACT app is focussed on helping you make more ethical investment decisions. You get access to the same markets to trade in by the app ranks your portfolio by how ethical they are. It will also show you a more ethical alternative, with a similar investment profile which you can switch to with the click of a button.
Overall, Interactive Brokers’ trading apps, are some of the best around with excellent functionality and access to one of the widest selection of markets and investment products around.
60% of retail investor accounts lose money when trading CFDs with this provider
CMC Markets Trading App
Pros
✔️ Excellent sentiment tools
✔️ Wide range of markets
✔️ Tights spreads and low costs
Cons
❌ No investment account
❌ Limited shares on offer
❌ No DMA equities trading
CMC Markets Mobile Trading App Review
CMC Markets’ trading app lets you trade over 11,000 markets via CFDs and financial spread bets. It’s suitable for active traders and has the same fast-paced feel as the main platform.
One of the things that makes CMC Markets app stand out for me when I tested it is the focus on media as well as execution. Instead of providing an app that is just a slimmed-down version of the main platform, there is a huge amount of educational and news content available as video. So the app provides a bit more than just a way to stay connected to the markets, it can be a resource and a way to learn whilst on the move.
The analysis section provides insights and intraday updates, news from Reuters, economic calendars and CMC TV can keep you informed and entertained. There are also some quite good platform tour videos, so you can get to know the platform better, some educational videos on how to trade and you can join live events.
The app quite nicely highlights trending, popular and typical markets, which are ranked by activity so you can see the most liquid markets and what is being traded.
One of the standout features though is CMC Markets’ client sentiment data, which is displayed around the order tickets. When you bring up an asset you can see what percentage of clients are long or short, related products and also break it down between which way the profitable and non-profitable clients are trading.
Overall, CMC Market’s trading app is an excellent resource for active traders on the move.
66% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider
Pepperstone Trading App
Pros
✔️ Tight spreads
✔️ Fast execution
✔️ Good MT4/MT5 trader tools
Cons
❌ Limited shares on offer
❌ No investment accounts
❌ Major markets only
Pepperstone Mobile Trading App Review
Pepperstone has two trading apps, MT4 and cTrader which provide access to CFDs and spread bets on the major markets for active traders with tight spreads.
Pepperstone’s version of the MT4 trading app, will connect you to your MT4 account with Pepeprstone but when I tested it the algo and automatic trading functions of the desktop version are not available through the app.
The cTrader Pepperstone App though is feature-rich including, market sentiment, market depth economic calendars, and technical analysis from Autochartist which displays regularly updated trading signals.
There is no stand-alone trading signal feed, but once you are looking at a market, Autochartist will display the most recent signal from 15 minute, 30 minute, 1 hour and 4 hour time frames and automatically display a buy or sell one-click order button based on if it is a long or short signal.
The app also breaks down your trading statistics based on previous trades per asset. So for example, if you are trading a US stock on the app, it will tell you how well you have done in the past with your overall net profit, what commission you have paid, your best and worst trades and how long you generally hold a position in that stock for.
Market access is narrow and pricing is tight.
79.3% of retail investor accounts lose money when trading spread bets and CFDs with this provider
Saxo Markets Trading App
Pros
✔️ Professional-grade trading platform
✔️ Integrated research and analysis
✔️ Excellent market range
✔️ Investment account options
Cons
❌ Maybe too advanced for beginners
❌ No investment accounts
❌ Major markets only
Saxo Markets Mobile Trading App Review
Saxo Markets’ trading app is a real workhorse and offers excellent market coverage and functionality. The app provides access to over 30,000 CFD markets as well as on-exchange futures, options, and physical investing.
When I used the Saxo markets trading app I got access to a lot of the functionality of the main platform including, level-2 prices, positions, orders, watchlist, trade blotters, charting, options chain tables, stock screeners, price alters, and SaxoSelect Investments. SaxoSelect lets you invest in longer-term capital-grown investment products run by leading asset managers such as Blackrock and Morningstar who create automated portfolios based on your investment objectives. So, as well as having full access to Saxo’s full range of derivatives products you can also manage your investment portfolio from the app.
The SaxoTraderGo app also provides access to Saxo’s research services where you can view Saxo Wire, and get an overview of the major market movers per asset class, news is filtered by what is trending in the “Hot Topics” section. There is quite a good integration of Autochartist as well where you can trade directly from the signals, choosing if you want to add stops and limits.
There are also some quite good educational videos on topics such as technical analysis, risk management, fundamental analysis, and some general “how-to” guides on how to get the most out of the platform. Through the app, you can view live and previous webinars including Saxo’s quarterly outlook and new feature training.
Overall, one of the best trading apps on the market suitable for experienced and sophisticated traders who want more than just trading and charting.
IG Trading App
Pros
✔️ Biggest market range
✔️ High levels of liquidity
✔️ DMA accounts
✔️ Investment accounts
Cons
❌Customer service can be slow
❌No futures and options
❌Almost too big
IG Mobile Trading App Review
IG’s trading app offers access to the same range of markets and account types as the main platform. You can trade CFDs and spread bet on over 17,000 instruments and invest in longer-term products like ISAs and physical shares.
It was nice to see that when I used the IG trading app I could also get access to trading signals from Autochartist with entry, exit and stop levels that can be executed on mobile with the signal data on the same screen as the order ticket. IG’s trade analytics package is also available so you can review your trading win rate, return, and profit and loss ratio as well as see whether you are a better short or long-term trade, the app will also highlight your best and worst markets. The app trade analytics will also show your total financial exposure and your most recent trades.
The app’s news, section, whilst not as comprehensive as the web version can be filtered down by asset class, you can see what is most relevant to you. There is also a macroeconomic event calendar and a diary of company announcements so you don’t get caught off guard with unexpected figures or can take advantage of upcoming market volatility.
One key advantage of the IG app is that IG provides markets over the weekend so you can trade to reduce or increase your exposure on the move and out of normal market hours. You can also see level-2 data and trade DMA on shares. The app syncs with your accounts so watchlists and recently traded and viewed markets will be easy to see. Charting, is good, landscape and portrait, plus you can trade directly from the charts, as well as drag and drop, stop and limit levels.
Overall, IG’s trading app is one of the best out there, with more features and markets than most of the competition.
Your capital is at risk. 73% of retail CFD accounts lose money
Markets.com Trading App
Pros
✔️ Blends and sector trading
✔️ Hegde fund sentiment analysis
✔️ TipRanks Integrated
Cons
❌ No investment accounts
❌ Analysis limited to US stocks
❌ HQ not in the UK
Markets.com Mobile Trading App Review
When I tried the Markets.com app I found it fairly basic, but does provide everything necessary to stay connected to the market on the go. Basic is not always a bad thing, sometimes you just want an app to trade on.
The app has charting from TradingView, watchlist, top movers and some analysis and opinions. but it doesn’t have access to the full suite of TipRank data that the MarketX main platform does.
You still have access to the same 3,000 or so tradable assets via CFDs or spread betting and pricing is the same as online. You can trade out of hours and there are some nice features like being able to close a trade by swiping left (as though you were deleting a text message), or edit the trade by wiping right.
Overall, it’s a good app for keeping track of your positions and the market in general but lacks the added value and features of the main trading platform.
Spreadex Trading App
Pros
✔️ Excellent reputation and service
✔️ Sports trading also available
✔️ Smaller personal brokerage
Cons
❌ No investment accounts
❌ Some may be put off by sports
❌ Limited order types
Spreadex Mobile Trading App Review
The Spreadex trading app, as with the main trading platform, is suited to traders who just require a click and trade app and won’t be using it for research or signals.
The app has access to the same 10,000 markets which you can trade by spread betting or CFDs (no physical investing yet). Pricing is very competitive in the major markets but does get wider the more exotic the product. Spreadex has always been very good at offering access to smaller cap stocks, some of which are also available on the app, as well as the main platform and over the phone.
The watchlists, highlight, popular market, the risers and fallers, but there is not much in the way of cluttered educational content or analysis. you can view market updates, weekly analysis, and financial trading blogs, but these are just links to webpages from the app.
One good feature I found when testing it though is that you can talk directly to customer support via live chat through the app. This is one area where Spreadex has always excelled as a smaller UK broker, offering good customer service where you can get in touch with someone who knows what they are talking about quickly.
Overall, the app is a good compliment to Spreadex’s service.
69% of retail investors lose money when trading spread bets and CFDs with this provider
XTB Trading App
Pros
✔️ Wide range of major markets to trade
✔️ Good webinars and education
✔️ Zero commission trading
Cons
❌ No investment accounts
❌ Can seem complicated
❌ HQ is not in the UK
XTB Trading App Review
XTB’s trading app provides access to about 1,500 markets through CFDs and does provide some added value over the more basic apps from other brokers.
Specifically, the app highlights your favourite markets, and what is “hot” at the moment so you can see what traders are trading as well as sentiment indicators for those most popular markets. You can filter XTBs client trader sentiment by buyers and sellers, and also by asset class, so you can see where order flow has been going and decided if you want to follow or take a contrarian position.
Charting is fairly basic, no trading from the charts, by the crosshairs feature, does give you a visual of where your orders are relative to support and resistance on the same screen, which is a nice touch.
I did find when trading on the app though there is a good “Discover” section where you can view popular markets such as stocks that have exposure to “inflation protection”, environmental assets, top ETFs that are being traded and also a tab for stocks and markets that are being talked about on Reddit.
You can get access, via the app, to XTBs educational videos, such as their Masterclass, and interviews with people like Jamie RogoZzinksi from WallStreetBets.
Overall, the app has some good features and is a good complement to the main trading platform.
77% of retail investor accounts lose money when trading CFDs with this provider
What Are Trading Apps?
Trading apps are mobile versions of a brokers trading platform that enable traders to execute transactions on the move. Trading apps are an essential part of trading that enable traders to be connected to the market at all times. The majority of financial spread betting is still executed via desktop or laptop computer, but traders need CFD or spread betting apps to keep track of positions, move stops and limits and monitor profit and loss.
Trading apps are trading software that’s been specifically designed to run on and take advantage of the functionality and form factors of smartphones tablets and other portable devices. These trading apps are designed to be intuitive to use and navigate around and they make the most of the screen real estate available to them.
Choosing The Best trading App
The best trading apps are heavily regulated to ensure that client funds are protected and have the major features from a broker’s main trading platform to keep you connected to the market on the move. Make sure you also choose a trading app that is compatible across multiple devices, does not have a delay in executing trades on the move and is simple to use.
If you are looking for the best mobile trading platform start with here are the most important features to consider:
All of the brokers listed are UK based and authorised and regulated by the FCA
Regulation
Choose a good broker,
You must be sure you have chosen a good broker in the first place. Good spread betting and CFD apps invest serious money in keeping their clients connected to the market at all times. Always make sure your broker is regulated by the FCA and refer to our list of the best spread betting brokers to get started with a new account.
Features
Check the trading app features,
You need to ensure that the app you are choosing has the features you require. For example, on desktop you may require all the sentiment data and charting technical analysis. But when on the move, all you require is a clear interface and easy dealing buttons so you can execute quickly when the moment is right.
Execution
What is latency like?
If you are a scalper and trade in and out quickly looking to nick a couple of pips you need a lightening fast app from one of the major providers with super tight dealing spreads. If you are a longer terms trader and just want to be kept informed of live prices whilst not at your desk, a simpler app may be all you require.
Compatibility
Cross-device is key.
The Best mobile trading platforms will work on any device. Some spread betting brokers offer native apps and also a web-based mobile trading platform. In some cases the web-based trading platforms are better than the apps – as they more closely represent the full web based platform. You also need to ensure that any mobile trading platform you choose also works on Apple and Android devices…
Usability
Simplicity is paramount.
More volume is going through on mobile and this means that the top brokers competing for the best mobile trading platform have to make them easy to use. Mobile trading apps provide a way for clients to be connected to the market at all times. As most day and short-term trading is no leveraged clients need to keep track of their positions 24/7. By choosing an app that puts the pertinent information to your positions right in front of you. i.e. endless news feeds are probably not going to add much value to a trading app. But, open positions and P&L clearly displayed are key.
Popular Markets On Trading Apps
Trading apps offer user access to all sorts of markets and instruments though not necessarily all in one place Some apps will offer you access to CFDs on equity indices, individual stocks, commodities and Forex trading. However, they may not allow you to invest in and own stocks and shares, funds and ETFs etc.
Here we highlight which trading apps are best for trading specific markets such as:
- Forex
- Commodities
- Indices
- UK Shares
- US Stocks
Forex
CMC Markets is one of the best trading apps for forex as they offer the most forex pairs to trade. There are currently 71 forex pairs available to trade on the CMC Markets app. You can trade forex as a CFD or spread bet through CMC Markets. Second place goes to Saxo Markets, although you cannot trade forex as a spread bet through Saxo markets.
However, Forex trading it’s hard to see past the mobile version of MT4. The app is widely offered by forex brokers and thanks to the way that MetaQuotes built out their infrastructure the app syncs seamlessly with the desktop equivalent, which means that you can trade across devices and remain in touch with your positions and performance when you are on the go.
The MT4 app has an easy to use interface with a customisable quote list that you can trade from. If your broker offers them, you will be able to trade equity indices and commodities such as oil gold and silver from the app as well.
The app allows you to draw charts over various timescales and add indicators to them.
Trading and placing orders is straightforward in the MT4 mobile trading app and as soon as your trade is executed you can see your position and P&L in the trade history.
One of the most useful features is that you can download the app from the app store and use a proforma demo account independently of a broker to get familiar with its operation.
If you want to trade FX from a mobile device then the MT4 app is the one the others have to beat. However, If you have an interest in trading individual equity CFDs or other products then it probably won’t be for you.
Commodities
IG offers the widest range of commodities trading through it’s mobile app. There are 38 commodities to trade including gold, silver, oil and gas.
Indices
Spreadex offers the best range of indices for trading on it’s app. Spreadex offers 34 indices for trading via CFDs or financial spread betting.
IG offers the most UK shares on it’s trading app. You can trade large, medium and small cap stocks through the IG trading app as a CFD or spread bet. You can also invest, rather than trade in stocks via the IG app with an investment ISA or SIPP account.
US stocks
As a US broker Interactive Brokers offers the best access to US stocks via it’s trading app through physical shares or CFDs. IBKR does not, however, offer spread betting on US shares so you cannot trade USD shares in GBP as you can with financial spread betting brokers like IG.
Cryptocurrency
It is no longer possible for retail traders to trade cryptocurrency via CFDs or spread betting. However, you are able to invest in cryptocurrency through cryptocurrency exchanges or if you qualify you can open a professional trading account.
Different Types Of Trading Apps
Every trader will have a different user experience and set of requirements from and for their trading app these req requirements will be based on a variety of factors including but not limited to their level of trading experience, their budget, in terms of the amount of money they have to invest or trade with. The markets and instruments they wish to trade their trading style location and trading frequency.
Let’s be honest if you have a short term scalping strategy but live in a corner of the country with an intermittent mobile phone signal then you are not going to be using a trading app.
However, if you live in the centre of a large town or city you will probably have a rock-solid mobile connection and may even be able to access 5G. Realistically you still won’t be able to scalp using a trading app but you could do most other things.
As with all trading software, the best trading app will be the one that ticks the most boxes for you on your list of requirements, hopefully, you will find one that comes close to meeting them all.
Beginners
IG is ranked as the best trading app for beginners as it offers lots of educations guides, webinars and analysis to learn. The IG trading app also has a clear interface with simple to use features. If you are new to trading it is important to remember that derivatives are a high-risk form of speculation so ensure you fully understand the risks of trading before you start.
CFDs
The things to look out for in a trading app if you’re going to be using it to trade CFDs are a wide range of markets CMC Markets offers 9300. IG Group 17,000 and Saxo Markets almost 20,000.
You should look for orders type other than just plain buy and sell, so for instance stops and limit orders and the ability to place stop-loss trades ideally at the outset of a trade and or in running.
Other items for would-be CFD traders to consider are the funding charges or rollover swaps applied to overnight positions
You will also only want to trade with an FCA regulated broker to ensure your funds are protected from fraud or failure, under the UK’s Financial Services compensation scheme. Don’t be taken in by offers of higher leverage rates offered by brokers based in offshore and largely unregulated jurisdictions.
The best day trading app
The needs of the day trader are similar to those of the CFD and Swing trader and indeed they may be the same. A wide range of markets will offer the day trader the maximum number of trading opportunities. Day traders will also want decent charting tools as well as news feeds and alerts, alongside pending order types such as limits and stops.
Day traders will want to be able to trade long or short with equal ease and will therefore want to choose apps that offer margin trading in CFDs and rolling spot FX etc. As day trading is an active trading strategy you will want to be comfortable navigating around the app and using its functionality for example you will want to be able to set alerts and preconfigure your charts and watch lists etc, time is money after all.
Professional Trading Apps
Saxo Markets has one of the best trading apps for professional traders. The Saxo Markets app provides direct market access CFDs, futures trading, options and access to it’s wide range of investment products.
Futures & Options
Saxo Markets provides access to all the futures markets you can trade on it’s online platform via DMA connectivity. The futures trading app is robust and has good order execution options.
High Volume Accounts
IG is one of the best trading apps for high net worth individuals because of it’s market range, but also the stability of IG as a broker. IG is one of the largest CFD and spread betting brokers and is listed on the LSE.
Cheapest Trading Apps
Shopping purely on price where trading is concerned is not always the best policy traders would do to better to adopt a holistic approach to selecting their trading app looking for a trade-off between functionality, ease of use and trading costs. If you end up paying slightly more in trading fees to access a more polished and user-friendly product that resonates with you that may not be the worst outcome.
When it comes to depth of markets, app functionality, access to research and educational resources etc and reasonable cost then the contest comes down to a trade-off between IG, CMC Markets and Saxo Markets.
Those that are looking purely for Spread Betting should also consider Spreadex, whilst social and copy traders should also look at the offerings from Pelican and eToro
Trading app account opening requirements
Opening an account via your phone and a trading app is a very similar process to any other online application. You will be asked to provide contact information such as your name and address telephone number etc.
There is a good chance that if you are resident in the UK and have been for some time that the broker will be able to verify your identity electronically and if that’s the case your new account could be up running very quickly. If you are asked to supply supporting documents a scan or image of the required documents can usually be uploaded or emailed to the App provider or broker.
Trading apps versus desktop platforms
Trading apps are designed to make the most of the form and functionality of smart devices something that they do very well. What they don’t do however is change the nature of trading that is still about making the right decisions, managing risk, running profits, cutting losers and stocking your trading plan and this is largely down to the individual trader.
Trading apps have some native limitations too; they may not offer all the functionality of their desktop equivalents. Space can also be an issue. It’s not always that easy to plot long term charts or study a table full of figures on a small screen, even when it’s in landscape mode.
One way to understand exactly what a trading app does well and not so well is to give it a thorough workout using a demo account that simulates live trading but that doesn’t require you to risk any real money. That means you can experiment and use all the order types, instruments charting tools etc and work out if the app is the right one for you and how you can use those features in your trading.
Can you make money trading through an app?
Trading apps offer convenience. You take them with you on your phone or tablet wherever you go and you can access the markets from anywhere you can find a reliable high-speed connection. This means that you can trade from pretty much any location too though whether you should is another matter.
However, there is a lot to be said for being able to check the markets and monitor your positions when you are out and trading apps can free you from being stuck in front of the desk all day.
One approach to trading using apps might be to do your research on a PC or laptop and once you have established the instruments and levels that are of interest to you.
You can place alerts or pending orders in those instruments at those levels and the trading app will alert you when those levels are reached or if those orders are executed.
Some trading apps offer you the chance to participate in Social or Copy trading, under copy trading you follow and copy more experienced traders. You choose which traders and strategies to follow and allocate a sum of money with which to copy their activity and the trading app does the rest. When they trade you trade, when they make money so will you and of course if they lose money so will you.
Just as in self-determined trading it’s important to have a strategy or plan when you are copy trading. You need to have a set of criteria to follow in your trader selection and be disciplined about how much money you allocate to each trader and you probably won’t want to duplicate your exposure either so rather than copying three traders that trade US tech stocks, instead try and pick the best out of the three and follow them.
Whether you are copy trading or trading for yourself you should always have a strategy and try to stick as closely to that as possible. Your strategy won’t really change regardless of the device or system you are trading on. Though your ability to execute it might, for example, it would be difficult to view charts in an instrument over multiple time frames simultaneously on a mobile device.
If you are new to trading you will want to keep your strategy relatively simple, to begin with, there will be plenty of time to build in complexity later on and if trading from an App it will make sense to play to its strengths by for example setting alerts and creating watchlist of the instruments and markets that you are interested in and to keep these lists relatively short to maximise the best use of your screen real estate.
Making money in trading whether using apps or other software is about having strategy and money management rules and sticking to those. Traders tend to lose money when they deviate from their plan and trade emotionally or shoot from the hip. Trading profits are never guaranteed but by creating and following a sensible trading plan you can slant the odds of success in your favour.
Trading App FAQs:
What is the best trading app?
IG is the best trading app in the UK according to our matrix of broker data.
Are trading apps free?
Yes, if you have an account with an online trading platform you will also get access to their trading app. However there may be some options costs such as level-2 data.
Can you make money on a trading app?
Yes, you can make money trading via an app. Around 20% of traders on trading apps in the UK from regulated brokers make money.
Are trading apps safe?
Trading apps issued by FCA regulated online trading platforms are safe and your funds are protected up to £85,000 by the FSCS if a broker goes bankrupt. However, they are a high-risk type of speculation and around 80% of traders lose money on them.
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- Last updated by
- Richard Berry
- April 6, 2022
- 9:26 am
