Trading was once the domain of those working in the big cities or who had knowledge of the stock market through work or social events. Times have changed significantly since then and it is now possible for any member of the public to trade successfully. It is not easy and it is important to understand how money can just as easily be lost as gained but thanks to the introduction of trading apps, anyone can trade, anywhere.
The question is, what are the best trading apps in 2021?
The leading trading app may depend on which country you are based but using Australia as an example, arguably the best trading app Australia is eToro. This mobile trading application is ranked so highly because it is suitable for both beginners and experienced traders alike. For those who are unsure about investing significant amounts of money online using a trading app, eToro is fully regulated by ASIC plus FCA and CySEC. That means you can trade in a secure environment, knowing your money is in safe hands. The eToro apps is available for Android and iOS devices and covers 17 international markets. While many Australian online brokers charge a variable commission when you trade, eToro charges zero commission and if you are new to trading, you can use the CopyTrading feature. This allows you to follow an experienced trader step-by-step, meaning you can have an almost hands-off approach to trading.
There is no doubt eToro is one of the best trading apps in 2021 but what other trading apps are available?
AvaTrade is one of the most popular Australian trading apps and is a CFD trading platform. That means you cannot buy shares outright but can trade with leverage up to 10:1 short stocks in addition to buying them. AvaTrade comes complete with its own trading platform and the AvaSocial app is a good feature, offering a substantial number of experienced traders you can follow. It is even possible to have a one on one conversation with other traders and ask them questions before you begin trading on the AvaTrade app. AvaSocial requires an additional download but it is worth it, especially if you need some help to get going.
Another CFD trading app worth considering is Plus500. This trading app is licensed by ASIC and the FCA, so immediately you know you are safe to trade using the platform. The minimum deposit at Plus500 is just $100, meaning this app appeals to a wide audience, especially those who want to start small. You will find a wide selection of stock CFD markets when using Plus500 plus all the major exchanges, including the London Stock Exchange, NYSE, and NASDAQ. Furthermore, the Plus500 app has a demo account facility and this means you can trade using real market conditions but without using real money. All markets on the app are commission-free and there are no deposit or withdrawal fees.
Some of the other great trading apps in 2021 include IG, Trading 212, Skilling, and Westpac.