It won’t come as a surprise to you that the vast majority of retail investors trade through trading apps on their phones, rather than their desktop computers. But do you know how to choose the best one for you?
You may feel overwhelmed as there are so many options to choose from. That’s why TrustedBrokers.com put several trading apps to the test, highlighting their pros and cons. We’re confident that these facts will help you make an informed decision.
eToro
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eToro is one of the most popular trading platforms, with over 20 million active users. It allows you to trade a wide range of markets, including Forex, stocks, commodities and even crypto-currencies from a single platform. eToro’s trading platform is available through its website as well as a mobile trading application, available for Android and iOS devices.
We like how slick and user-friendly its mobile application is. You are just a click away from opening or closing an order. You can also copy other traders or copy a fund with a thematic investment strategy. eToro has made it easy to keep track of any unrealised profits or losses, and manage your overall risk.
eToro is regulated by several bodies including the FCA, CySEC, NFA, CFTC and ASIC. While eToro is available in a wide range of countries, the markets you may access will vary based on the laws and regulations in your country.
AvaTrade
AvaTrade is an award-winning global broker, voted Best Forex Broker in the 2020 FX Empire awards. With AvaTrade, you can trade CFDs over 1,250 instruments, spanning currencies, stocks, crypto-currencies, commodities, energies, metals and even government bonds.
Unlike eToro, AvaTrade supports MetaTrader 4 and 5, two leading trading platforms. You can trade online, as well as on your phone. Its iPhone app is currently rated 4.7 out of 5 stars, with users highlighting its ease of use and safety. You can deposit funds through Apple Pay, buy and sell at the touch of a button, and monitor your portfolio’s gains or losses.
AvaTrade is regulated in the European Union, Poland, Australia, Japan, South Africa, the UAE and Israel. If you like outside of these countries, you’ll be covered by its entity registered in the British Virgin Islands. All client funds are held securely in segregated accounts.
Capital.com
Capital.com is another highly-rated CFD broker you may want to consider. Access over 6,000 instruments from its app, including Forex, crypto-currencies, stocks, indices and commodities. Capital.com supports the MetaTrader 4 trading platform, available through the web, as a desktop download and a mobile app.
As is the case with eToro and AvaTrade, Capital.com charges no commission. Instead, it earns fees through the difference between the price at which you can buy and sell instruments. Capital.com claims to charge tighter spreads than most of its closest competitors. It also touts faster execution speeds. Perhaps it’s no surprise that it’s app is also rated 4.7 out of 5 stars in the Apple store.
The Capital.com Group has offices in the UK, Belarus, Cyprus and Australia, where each entity is overseen by its country’s financial regulator.