A few decades ago, people who wanted to trade stocks needed to hire brokers and pay a long list of expensive fees. The introduction of discount brokerages gave everyone the opportunity to invest and trade stocks, without hiring expensive mediators.
Online brokerages are just one way the advancement of technology influences stock trading. The introduction of smartphones and mobile apps has also brought many benefits to traders. There are many different apps that can be used for investing, portfolio tracking and staying informed about the latest financial and stock market news and trends. In this article we have reviewed the top five mobile apps every trader needs to have on his smartphone.
The Bloomberg Business App can be used for finance news, market data and portfolio tracking. It was issued by one of the most popular business news agencies and it comes with all the same features as the regular Bloomberg website. The app can work on Android, Windows, iOS and BlackBerry OS and it enables users to create personalized views of news and stock market trends, with many different filters that are on offer. It also comes with a feature that enables users to read news about a particular stock and follow market data for many different categories of assets, including commodities, bonds, futures, equity indices and currencies. Stock portfolios on the Bloomberg Business app are framed in very interactive charts that allow users to easily find all the information they need.
This app is made by the number one binary option brokerage and it is perfect for traders whose portfolio includes binary options. It also comes with the latest news feature that’s great for following recent market trends. The 24Option app can be used by anyone who has an account on this broker network. The app also has real-time trading alerts, which inform users about their portfolio changes. The latest, 3.74 version has new safety features and updated regulation flows.
This app enables its users to track market data about any stock or index. These are some of the features the Yahoo Finance app comes with:
- Watch lists– users can create watch lists for stocks they want to track in real time;
- Graphs– stock information is presented in interactive graphs and tables;
- Other assets– other than stocks, users can also track futures, bonds, currencies, word indices and many other assets.
Users can also use the app for following the latest financial and business news and all portfolio and market changes are announced by personalized alerts.
Beginner traders often have trouble with adjusting to real market conditions. That’s why a trading simulation app is a must for all trading rookies. Stock Wars is the most popular trading simulation, which enables users to trade in a realistic environment and consult with other app subscribers. They can trade with many different types of assets including stocks, mutual funds and currencies. The app is well integrated with social networks, especially with Facebook and Twitter and it enables users to post stock performance Tweets.
Journalists have quickly realized all the benefits of Twitter and its dynamic interface that’s a perfect environment for real-time reporting. Since the stock market is also very dynamic, many traders use Twitter for receiving news and insights. Stocktwits is an app that comes with the same dynamics as Twitter and a large community of traders who share their opinions about current market conditions and stock ratings.
Stocktwits is also good for maintaining contact with other traders and establishing cooperation. It also has Trending Lists with stocks that are popular among investors and other traders who use this fantastic application.
The trading game requires lots of speed and skill, which is why traders should use all the help they can get. Since tech is constantly changing the ways people trade assets, traders also need to be well-informed about the latest trading software and use it to get the right information about the stocks they intend to buy.