When trading stocks, traders can use several different apps to make the process easier and more convenient. However, with so many trading apps available, it can be not easy to know which one is the best for your specific needs. Below is a list of popular stock trading apps with a short analysis each to help you narrow down your decision:
eToro
eToro is a top-rated social trading platform that allows users to trade various assets, including stocks. One of the main benefits of using the eToro app is that it offers a demo account, which means that you can get a feel for the platform without risking any of your own money.
Another benefit of using eToro is its wide range of educational resources, including eBooks, webinars and tutorials, which can be extremely useful if you are new to trading stocks and want to learn more about this area before investing any real money.
Other notable features offered by eToro include its user-friendly interface and robust mobile app, making it easier to stay on top of your trades and investments even when you’re on the go. eToro is one of the best stock trading apps in the UK, and it is favoured by many traders.
Plus500
Like eToro, Plus500 is another popular choice for those looking to trade stocks in the UK. One of the main benefits of using Plus500 is that it offers a wide range of assets, including but not limited to shares, forex, and cryptocurrencies.
In addition to its extensive selection of assets, another benefit of using Plus500 is that it has a flat trading fee structure, which means that you will only be charged for what you trade rather than having to pay any monthly fees or commissions, which can help to keep your costs down.
Plus500 also makes it easy to view your portfolio and positions on-the-go thanks to its user-friendly mobile app, so if you’re someone who likes to stay on top of their investments while out and about, it’s worth considering.
Therefore, if you’re looking for a stock trading app that offers many features and benefits, Plus500 is certainly one to consider.
Markets.com
Markets.com is another excellent choice for those looking to trade stocks online in the UK. This platform offers a great selection of assets, including shares, forex, indices and commodities, so you should be able to find an app to suit your needs.
One of the main advantages of using Markets.com is commission-free trading on all of its assets, which means that you will only ever pay the spread when you trade, which can help keep your costs down.
Another benefit of using Markets.com is that it has shallow deposit and withdrawal limits, making it easier to manage your investments. It also has a user-friendly mobile app and a range of excellent educational resources, so you should be able to learn more about the world of investing while using it.
Overall, therefore, Markets.com is an excellent choice for looking for an all-around stock trading app in the UK. With its wide selection of assets, low fees and easy-to-use platform, there’s plenty to love about this option.
Drawbacks of using trading apps
Despite their popularity, there are a few drawbacks to using trading apps, such as the fact that they can be pretty complex and challenging for those who are new to investing. Many of these apps require a certain level of knowledge and experience to make effective trades, which can be challenging if you are just starting.
Another potential drawback is that some trading apps may not offer the same level of security and privacy as other platforms. For example, some stock trading apps may keep track of your activity or sell your personal information to third parties without your consent. While this may not leave you particularly vulnerable to scams or identity theft, they may not be the best option for investors who prefer to have higher levels of security and privacy.
Finally
Choosing the right stock trading app can take some time and effort, but with so many great options available in the UK, it shouldn’t be too difficult to find one that works for your needs. Whether you’re looking for something that offers lots of assets or commission-free trading, there’s an app that’s right for you. We recommend using a reputable and experienced online broker such as Saxo capital markets before investing your money.