A Review of the Most Popular Financial Trading Applications
Tuesday, November 21, 2017
Remotely accessing the Internet has
now become a part of our daily lives. While the personal computer is not likely
to vanish from existence any time soon, a growing number of individuals are tapping
into the wealth of the virtual world through the use of tablets, smartphones
and phablets. This is particularly the case when referring to online trading,
as investors need to be able to execute positions within minutes even if they
are away from the office. What are some of the most effective financial apps on
the market today and what does each have to offer?
Robinhood
One of the many obstacles which
modern traders face is the ability to encounter an intuitive platform that
offers exceedingly impressive profit margins. This is the main reason why the
Robinhood trading app has enjoyed a growing sense of popularity in 2017. As
opposed to the majority of other smartphone applications, there are absolutely
no fees or commissions associated with Robinhood. Investors will be able to
accurately calculate their profit margins without having to take into account
extraneous charges. It is also very easy to personalise this application based
off of discrete needs; ideal for professionals and novices alike.
The CMC Markets App
Considering that CMC Markets is one
of the most trusted and well-known online brokerage firms in existence today,
it should not come as a surprise to learn that their mobile investment
application has enjoyed top marks across the board. Not only is the CMC Markets
app available for both iOS and Android operating systems, but a wealth of intuitive tools provide users with all of the most important options when they are
needed the most. Social trading sentiments, advanced charting capabilities,
real-time price readouts and a highly intuitive UI are some of the many
hallmarks associated with this unique app.
Yahoo! Finance
While Yahoo! Mail may no longer be
the most popular email platform, their financial application has definitely
stood the test of time. Yahoo! Finance has been in existence in one form or
another for well over 15 years, so the developers have had ample opportunities
to capitalise upon such experience. We should first mention that this
application is NOT intended to provide users with a proprietary ability to buy
and sell positions. It is rather a centralised portal to access the latest
stock prices and news stories. Yahoo! Finance is therefore often used alongside
dedicated trading apps in order to enjoy the best of both worlds.
Betterment
Betterment represents what can only
be called the up-and-coming mobile trading application. Its most unique feature
is that it literally invests funds at the user's discretion. This is a very
hands-off method, as Betterment employs advanced algorithms (sometimes referred
to as trading "bots") to buy and sell positions based off of the
predetermined desires of the client. Although the concept of automated trading
may frighten off some users, others feel that it is an effective means to
generate wealth without being obligated to constantly monitor share prices and
market movements. Its developers have even claimed that their successful trades
have outperformed similar managed portfolios.
Forcerank
This is a rather new application and
while it has not been around for as long as Yahoo! Finance or CMC Markets, it
merits a closer look due to the social nature of its configuration. Force Rank
essentially compiles the opinions of over 47,000 professional traders and analysts. This sentiment is then utilised to form a consensus in regards to
which assets represent the top picks for a specific time period. Some will view
this app as a more advanced form of social trading. The only major difference
is that opinions are derived from proven experts within their prospective
fields. Forecerank could therefore be used alongside other proprietary systems
in order to gain a more well-rounded perspective before a trade is executed.
The number of mobile-based financial
trading applications seems to be expanding on a daily basis. A few will always
outshine others. The bundles mentioned above represent some of the best in the
business. So, on-the-go trading is now more of a reality than ever before.
