Initially, traders viewed stock market apps with a degree of scepticism, and with good reason. When they were first released, trading apps could not do everything that a website could. For instance, whilst traders could use their app to check market signals and read some market analyses, they could not always use it to deposit and withdraw money or to make trades. The latest generation of apps, however, is doing much more than you might ever have imagined. Here are three success stories of apps on the stock market.
Scutify: where interaction is the name of the game
Scutify is an educational app that enables traders to engage in discussions with each other and to pass on skills and knowledge. It is modelled on several different types of platform and it brings them all together into one streamlined app. The first model that Scutify uses is that of a think tank, drawing together a range of selected traders as experts who can provide market analysis on a given issue. The second model is that of a social network specifically for traders, which enables traders to connect with each other from all over the world. Finally, Scutify also works as a publishing platform, collating articles on the stock markets, and regularly updating them to ensure that they are accurate. The app integrates all of these functions together into one seamless whole, and as a bonus it can also send updates to an Apple Watch.
The CMC Markets App: streamlined trading for the iPhone
This is an extremely versatile app, which enables traders to perform numerous actions such as placing advanced orders for trades (ideal for scheduling trades at a time that best suits the individual trader), accessing timely and accurate stock market data and providing a detailed overview of a product that you may be interested in trading (for instance, commission costs, trading hours, margin rates and more). The home screen of the app is customisable, so users can make it as intuitive as possible. In addition, this app provides customisable watchlists that are integrated with performance measures and live streaming data, and all of this can be synced automatically with the user’s web platform. These are just a few of the functions that this app offers: explore it, and you will discover many more. All in all, this app provides the perfect balance between streamlined simplicity and the in depth detail that is needed to make wise trading decisions. It places a wealth of information at the trader’s fingertips.
Stock Wars: Trading Before You Trade
Stock Wars looks exactly like a classic trading platform, but with a difference: it is just a simulator, and no real money is exchanged. The reasoning behind this app is simple: just as pilots use flight simulators to develop the skills that they need without endangering their lives, traders also need a way of honing their trading ability without putting their finances at risk. Designed specifically for beginners in the trading world. Stock Wars lets traders build an online portfolio of assets, make trades, and read and apply stock market information. If a mistake is made, there is no real harm done, and the trader can learn from their experience. After a few weeks of using this app, they will be able to launch themselves into the real markets, and to hit the ground running as they apply the skills that they have learned on the simulator in the ‘real world’ of stock market trading.
Try out these apps today
All of the apps mentioned above are free to download via the Google Play store, so why not give them a whirl today? Sharpen your skills with Stock Wars, or deploy one of the other apps to start trading in a more streamlined and intelligent manner. As you can see, trading apps have moved beyond being just a stripped-down version of trading websites. Now, trading apps are doing things that websites cannot, and making online trading much more fast, exciting, accessible and easy to engage in.