Back in the day, trading used to be done by telephone, traders would call in, make a deal and wait for a gain or a loss. But because of today’s technological advancements, you now have so much control over your trades!
Read More: We Deal with high-configuration Laptops Get up to 25% OFF on Laptop On Rent In Delhi NCR.
Traders today can use analytical tools, see active charts and graphs and so much more with the use of trading platforms. These platforms allow traders to make trades whenever and however they want.
Plus, with the added features that come with these platforms, you can now make more accurate speculations when trading. And the more accurate your assumptions are, the higher odds your odds get!
CFDs are considered to be a pretty tedious and volatile market to get into but even with this reputation this still attracts all sorts of traders may they be, newbies or seasoned traders. That’s why a good trading platform can make all the difference when trading with CFDs. https://www.loansforgulf.com/
So to know more about trading platforms such as their how, what and why, check out everything you need to know down below:
What is a trading app?
A trading app or a trading platform is a medium trader used to execute trades through their mobile phones, computers, tablets and laptops. These are also compatible with iOS and Android devices and are open 24/7.
These platforms offer international access to various markets such as forex, metals, commodities, indices, stocks, CFDs and more. These also come with trading features such as active charts and graphs, analytical tools, demo accounts, educational material and so on.
But depending on the trading app you choose to get, features may vary. Some trading apps offer more than others, and some will even cost more than the rest.
What are the benefits of using a trading app?
Apart from making trading easier and quicker, this also comes with several other benefits! To give you an idea, here are some of its commonly known advantages:
- Helps you make more accurate market speculations through the use of analytical tools, active charts and more.
- Allows you to venture into other kinds of markets easily. In one account you can hold various trades in different markets like crypto, metals, bonds, forex, CFDs and more.
- Automatically alerts you of your trades when changes occur. These alerts can be emails, text messages and even app notifications to your device.
- Great for beginners since most trading apps offer demo accounts for traders to practice on. This also makes the process of trading easier so you can say it’s both beginner and user-friendly. Plus creating an account is a piece of cake!
What are the best trading apps around?
A good medium can affect your trading profit and experience by, A LOT. That’s why it’s essential to only trade with the best ones around. A great trading app consists of (1) a great reputation, (2) great customer service, (3) accessible learning materials and (4) quality trading tools.
To guarantee a great trading experience, consider working with the best trading apps around! Listed down below are some of the top CFD trading apps to consider:
Interactive Brokers
This trading app is known to be a go-to of all kinds of traders may they be newbies, tenured, small or big traders. This app also boasts vast options of trading tools, offers low costs, low margin rates and is an app that’s great for long-term trading. Here’s a list of its pros and cons to consider:
Pros:
- Has a zero balance minimum for dollars.
- Offers a vast amount of tradable securities.
- Offers a wide range of trading tools.
- Access to various trades.
- Low trading costs.
- Offers free and subscription-based research and data offerings.
- Is beginner and user-friendly.
Cons:
- Has various regional restrictions and regulations all traders need to abide by.
- Has maintenance fees for inactive traders.
Forex.com
If you’re looking for an affordable trading platform, this app is the way to go! Forex.com offers low trading costs and is also another go-to trading app for most traders’ blockchains. Its minimum deposit for CFDs is a dazzling $50, reasons as to why most CFD traders are drawn to this app. Plus depending on what type of account you get, commission fees may vary. Here’s a list of its pros and cons to consider:
Pros:
- Offer low initial costs.
- Has a great platform interface.
- Offers low stock index CFD fees.
- Has no withdrawal costs.
- Allows easy customization of trading tools and charts.
Cons:
- It takes around 2 working days to set up an account.
- Has maintenance fees for inactive traders.
- Instances of money might take a while to arrive after withdrawing.
See Also – Formstack Alternative
eToro
One of the most popular trading apps around has got to be eToro. This offers low premiums for some of their trades, offers around 2000 CFD options, and is regulated by two tier-1 and one tier-2 jurisdiction, indicating that the risk level for both CFD and FX trading is relatively low. Here’s a list of its pros and cons to consider:
Pros:
- Offer copy-trading and funding tools.
- Has a generous inactive policy.
- Creating an account is as easy as can be!
- Offers a stop-loss tool.
- Offer various training materials (webinars and blogs)
- As an economic calendar.
Check Also – PandaDoc Alternatives
Cons:
- Has fewer asset options.
- Has a higher withdrawal rate for small traders.
