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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.