Best stock trading apps to use

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With many different apps available on the market, it can be a daunting task to find the best stock trading apps. This article will go through some of those options and give you an idea of what may suit your needs. 

Free trade

The first way to start trading this app is by choosing a market sector from a list of 12, all of which have been hand-picked by professional investors as being the most profitable at the time being. 

These sectors include everything from cash flow stocks to utilities and small caps. Once you have chosen your preferred area, you can choose an individual stock from one of the many listed on the London Stock Exchange (LSE). You need not limit yourself to just LSE listings – if there is a specific company that you wish to trade in with, you can do that as well.

How much does it cost? 

The first £1,000 is free for everyone, which is great news for beginners. After that, there are two plans to choose from – the monthly plan at £5 or pay as you go for £0.50 per trade.

SaxoTraderGO 

SaxoTraderGO is one of the most popular stock trading apps on the market. It is available through all mobile devices and is designed to be simple yet powerful for any trader.

The first step towards using this app is choosing between two plans – Basic or XL. The difference between these two lies in their charts as you have less information via the Basic plan but more with the XL plan and tools such as real-time news feeds and watchlists.

In addition, no deposit fees are also included within those two plans, which is excellent for both beginners and advanced traders looking to test out new trading strategies.

The following way you can use this app is by choosing the market you wish to focus your trades on – stocks, currencies, or commodities. The latter two are available through a separate app called SaxoWebTrader, which costs £3 per trade but includes more in-depth information about commodities and currencies.

How much does it cost? 

SaxoTraderGO costs £1 every time you make a single step of investment. However, this could be just 0.004% if you invested heavily in their XL plan (which has no fixed fee). Either way, this makes it one of the cheapest stock trading apps on the market.

Avatrade 

Avatrade is a popular choice among beginner and advanced traders alike, thanks to its wide range of convenient features for any investor. It is available through all mobile devices as well as desktop PCs.

The first step towards using this app is choosing whether to invest in stocks or trade CFDs. If you choose stocks, you can diversify your portfolio by choosing an individual stock or ETF straight from the LSE. On the other hand, you can trade CFDs on over 4,000 stocks and shares listed on the world’s major exchanges.

How much does it cost? 

The only costs associated with using this app are withdrawal and deposit fees – depending on what you are trading. For stocks, you will have to pay £0.25 per withdrawal, and deposits range from free up to £500 depending on the type of payment method used.

Firstrade

The first step towards using this app is choosing whether to invest in stocks or ETFs. If you are investing in the former, then the best part about this app is that no commission fees are required at any time, which means more money for your pocket. On top of this, they boast a wide variety of stocks and ETFs that you can choose from to diversify your portfolio and avoid putting all of your eggs in one basket.

How much does it cost? 

Firstrade offers 100 free trades, which is great for new investors to test their strategies before investing any real money. Afterwards, trading costs vary depending on what type of account – non-margin or margin accounts. The latter allows you to borrow funds from the brokerage for investing.

In conclusion

When choosing a trading platform it is advisable to try various demo accounts before making a final decision. Each trader has a unique strategy in mind and testing different tools and apps allow them to find the perfect tools for their trading journey.