What are the best apps that you can use to trade with using your Android device? In this article, I’ll show you some of my favorites and explain why.
For each Android trading app, I’ll show you the features and try to provide you with information so that you can understand which one is best for you.
You can choose the one that suits you based on your level of experience, your trading preferences, the type of interface you prefer, etc..
Here you find the complete list:
Platform: etoroMinimum Deposit: 200 €License: Cysec
- Copy the BEST Traders
- TOP crypto choice
Platform: Iq OptionMinimum Deposit: 10 €License: Cysec
- Last generation User Interface
- Low minimum deposit
Platform: plus500Minimum Deposit: 100 €License: Cysec
- Among the best CFD brokers
- Broad cryptocurrency selection
Platform: 24optionMinimum Deposit: 100 €License: Cysec
- Among the best CFD brokers
- Free demo Account
Android Trading app for those who are just starting from scratch
Let’s start from scratch, that is, from those who have zero experience in online trading and have an Android smartphone. If you’ve never traded on the stock exchange before, which app do you feel is right for you?
You need to choose one that is intuitive that allows you to be understood even by those who have never used it.
In practice, they must be easy to navigate and you must immediately understand where they are (at least) the main functions: how to choose stocks, how to set a position, how to view the chart, how to open a position and close it.
These are the basic pillars around which the most specific and complex functions operate in.
For those who are starting from scratch, here are two interesting apps designed for Android.
24option Android App
24option it is a very simple app to use and allows you to easily choose the asset with which you can trade based on a list that you can filter to display one or more categories including stocks, cryptocurrencies, commodities, Forex, etc.
For further details about the company, you can read our 24option review.
An equally simple feature is the part relating to order setting wherein you can choose the quantity to be traded, the stop loss, the take profit and any pre-order.
Among the disadvantages of this app are: chart viewing, which is not really intuitive at the beginning but with little practice becomes effective; the details of the CFDs, which must be recovered from a separate window; the preview of the margin, or the preview of the amount of credit required to open the position, which does not appear but that can be calculated not too easily through the CFD details.
Among the most obvious advantages, in addition to the ease of opening a position, is the possibility of practicing with a demo account without a deposit required.
Plus500 Android App
Plus500 is one of the clearest and most intuitive Android trading apps on the market. For further details about the company, read our Plus500 review.
Let’s say right away that you can start practicing in seconds as the demo account only requires an email and setting a password. The platform’s interface is very intuitive and allows you to have everything at your fingertips.
It is a very convenient platform to use. In fact, it’s very pleasant. It has a large number of easily selectable assets and it always has the graph under control.
The order window also shows a preview of the amount of the position according to the parameters entered and the details of the CFDs are always easy to consult.
In short, an Android app of fine workmanship and an example to follow for others. If you want to try the Plus500 app, you can access here for free and start right now.
Of course, we have also published a complete Plus500 tutorial.
Advanced Android Trading Apps
If you have a few months or years of practice behind you, you may want to move to a more advanced level and act like a real trading professional. How? With the MetaTrader app, which is full of technical analysis features and has the ability to view multiple charts at once, is well suited to operations of most professional traders.
MetaTrader is not for everyone because unlike the basic platforms provided by brokers, it is not designed to be intuitive even for those starting from scratch.
It is a platform that needs some instructions to know, which is why we have published a guide to MetaTrader available online on our website Tradingmasters.io that you can read as many times as you like.
Right now, MetaTrader has over 10 million Play Store downloads and an average of 4.6 out of 5 reviews. On such a large number of installations and reviews, it’s not bad, is it?
My review is this: it’s a great and highly professional app. You can try it for free with a demo account from here and then (if you want and when you want) you can start playing in the stock exchange with real money using the same app, but accessing it with the real account.
If you use our link above, you will receive an email with all your login details: username and password for MetaTrader 4.
Choose an app to use on the stock exchange based on your trading preferences
Everyone has their own trading style and their own preferences. For example, there are those who prefer to have more tradable assets available. Others, on the other hand, prefer a certain type and therefore brokers who offer a wide variety of them.
Let’s say you like the idea of trading stocks on the stock exchange: which Android app should you choose? If you like to browse even the least known stocks, then you have to choose an app that has so many, like Plus500.
If you need only the most important ones, but still in good quantity, then you can choose 24option.
Do you prefer cryptocurrencies? There are some apps on Android that have a lot of them, like IQ Option. This app allows you to choose from about 20 cryptocurrencies to trade on, although it has the disadvantage of not offering leverage, as other brokers do (Plus500, for example, which allows you to trade cryptocurrencies with leverage, as you can see in this page).
As for Forex, all apps now offer the ability to trade on all major exchanges. The difference between one and the other can make the spread, as there are brokers who offer a lower spread than others.
The spread is the difference between the bid and ask price, ie between the price of “buy” and “sell”, or rather, between the position long (rise) and short (fall).
This represents a cost applied by the broker so the lower (narrow) the more convenient it is. The best brokers offer the tightest spreads.