What are the best online trading apps in UK to trade from your mobile phone? The best online trading apps UK have become increasingly accessible in the United Kingdom. These online share trading apps can be downloaded into your mobile devices such as tablets and smartphones. With more online traders turning this into their ‘9 to 5’ job, it is important to trade online using the best stock trading app in UK. According to research in UK, choosing the best free online trading apps also offer the best trading experience. The purpose of this article is to explain what is online trading apps and also provide the uses of stock trading apps.
What is An Online Trading App?
An online trading app is a mobile app that is used to buy and sell of shares. An online trading app is downloaded on your smartphone and can be used on the go. Most online traders in the UK prefer online stock trading apps because they are user-friendly and easy to use with low fees. Stock trading apps for iPhone and stock trading apps for Android are both available for download on iOS Store and Google Play Store respectively.
Why Do I Need An Online Trading App?
Online trading applications, especially for iPhones and Android smartphones, have increased in the United Kingdom over the past 5 years. Online trading apps UK help investors and make it easy for them to analyse currencies, stocks, shares, access real-time date and place orders of trades anywhere and anytime of the day on your fingertips.
The majority of experienced investors prefer mobile trading apps because they usually like being able to access market news, quotes, charts and their online trading accounts on the go. Just like with Prop Firms South Africa, in the UK, there are some reputable online brokers who have their own trading apps. You can download these apps by visiting their website.
Most stock trading apps for beginners usually provide easy and easy access to news, charting and price quotes. This is one of the reasons we need online trading apps UK.
List of the best Online Trading Apps in UK?
What is the best online trading app to buy and sell stocks? We’ve decided to put together a list of the best online stock trading apps in the UK. This list offers some insight into the top online share trading apps available in the financial market and evaluates the key services and features that they provide to investors.
This list is not designed to be a ranking but rather a comprehensive list of Best Free Online Trading apps in United Kingdom.
- FXTM – An automated online trading app
- Stock Trainer – An online trading app to practice with
- MetaTrader – The popular online trading app
- TD Ameritrade – Best Online Trading App UK
- FOREX.com – Top Mobile Trading App
- IG – Best stock trading app for beginners
Features of the best Online Trading Apps
There are some fundamental Online Trading Apps features you need to check out before you download the app. A good trading online app will provide some of the below features:
- Does the online trading app give you full access to market news or charts
- Can you open, close or modify your position using the mobile app
- A good app must have an easy-to-read trading dashboard with details on balance, margin, profit and much more
- One of the features of the best online trading app is allowing cross-device trading, which means you can open a position on your desktop (PC) and close it on your mobile device such as smartphone or tablet
- How many financial instruments does the app allow you to trade? Can you trade financial instruments such as major, minor and exotic currency pairs, gold and silver and indices, commodities and CFDs?
- Must be able to refresh data at the touch of a button
- Must provide news and company reports
- Does the app support customer support?
- Platform layout (Usability)
Benefits of Online Trading Apps
The convenience and user-friendly mobile trading apps is the number one benefit that app developers seek to tap into. So it’s no surprise that brokers in the UK and other providers now provide online trading apps to deliver the same convenience and user-friendly benefits. Below are some of the benefits of online trading apps UK.
- Convenience – Mobile apps make it convenient for traders and investors to buy and sell stocks online anytime and anywhere. They come with functions that desktop platforms come with. With mobile trading apps, you can get everything on a single screen.
- Mobility – As mentioned before, trading apps are accessible on the go and you can trade anywhere.
- Speed – Investors need a fast app that will help them react to the market immediately when they see a trading opportunity.
Disadvantages of Online Trading Apps
Online Trading Apps also come with disadvantages too. If you wish to become an online trader in UK, you need to be aware of disadvantages of mobile trading apps. Below are some of the challenges you might encounter when trading using mobile apps:
- Screen size – Some smartphones or mobile devices have small screen and this could be a hindrance for some traders. Some people also struggle to read what’s written on the screen.
- Execution Speed – Although online trading apps are very fast on mobile devices, they can also be slow when your mobile network is slow. A good app must have stability.
- Distractions – Mobile phones are designed to provide you with notifications and allow people to contact you. However, if you are busy messaging people while trading, you might make mistakes because your attention is divided. If you are using online trading apps on mobile to trade online, try to reduce the distractions.
- Over-trading – With an app installed on your phone, you might end up trading more than you should because it’s convenient and portable. Make sure that you don’t overtrade by disciplining yourself.
How to Use Online Trading App?
Online Trading Apps are used the same way you would use any other mobile app. Online trading apps for iPhone and online trading apps for Android need to be downloaded first before you use them. Just like in deriv, make sure you visit Google Play or the App Store and search for the trading app. Once it’s installed, login with your existing account number and password. If you don’t have an account, create an account.