Staying ahead of other investors is a good way to profit from the financial markets. When you leave the house, however, the only thing you might have with you is your mobile device. This is where mobile apps come in handy. Mobile apps are often extensions of their desktop cousins, with a focus on flexibility and speed. Here are 7 of the best apps for investors and financial traders you might want to check out.
7 of the Best Apps for Investors and Financial Traders
Bloomberg is a financial media powerhouse. This company has an extensive library of tools and helpful articles on just about anything related to finance. Bloomberg’s mobile application lets you get real-time stock information. It also gives you access to market news. Keep tabs on the companies in your portfolio as well as information about prospective buys.
2. E*Trade Mobile Pro
If you use E*Trade, then E*Trade Mobile Pro is something you should definitely download and install. It lets you trade stocks right from your mobile device, transfer money from any financial institution to your E*Trade account, and keep tabs on the markets using E*Trades build-in software and data analysis tools. The app also lets you receive live stock quotes as well as charts, which makes sense given that the whole purpose of the app is to make it easy to trade while you’re away from your desk.
3. Virtual Stock Market
Unlike many financial apps, Virtual Stock Market lets you trade with a virtual account of $100,000. The app uses real stock prices and tracks real-time movement of the markets, so it’s just like trading, except that you can’t lose money. That makes it easy for you to test new investment ideas or trading theories without risking your own capital. You can also “play” against other people, which makes the whole thing seem like a game of sorts. If you are new to trading, this app is very helpful. There’s nothing quite like doing actual trades to prepare you for a live account. There is a paid version of this app, but it’s not necessary to purchase it if all you want to do is do is play around with it. Even the paid version, however, is far cheaper than its competitors.
4. Stock Twits
Stock Twits works a little like Bloomberg in that you get access to news and information about the markets. However, unlike Bloomberg, the app serves as a gateway to a social network for traders. Using Stock Twits, you can interact with traders who use the same investment strategies as you do, gain insight from other traders with different strategies, and become part of a trading community.
5. iStockManager/TD Ameritrade Mobile
iStockManager was an iPhone app offered by TD Ameritrade. The company recently changed the name to “TD Ameritrade Mobile.” The application allows you to buy and sell stocks from your TD Ameritrade account, use TD Ameritrade research and analysis tools, and get account balances. The company is adding more functionality to the app like enhanced news and research and cash management functionality. If you’re familiar with TD Ameritrade, then you know that it’s mostly for long-term investors. Active traders might find the commissions a bit too high. Still, a mobile app does make it nice to see what’s going on in the market and makes trading easy when you’re away on vacation or when you won’t have access to your laptop or desktop for a while.
If you’re a technical trader, ChartsLive is a good app to have. It’s a detailed technical charting application that gives you a built in chart designer and support for over 40 different indicators, overlays, and moving averages. You can pinch and zoom in on the screen to get a closer look at your charts too, meaning that this app can legitimately be used to help you make real trades. That kind of functionality is sometimes rare in a trading app.
One on side of the trading continuum, there’s Bloomberg. On the other, stands Morningstar. The mobile app lets you do pretty much everything you can do on the full site since you can sync to your Morningstar.com portfolio and watch lists. You can create and edit watch lists, view performance charts for ETFs, Indexes, and individual stocks. You can even research Canadian companies and get real-time quotes for companies on major indices.
Guest post by Gaynor Cooper, on behalf of forex currency trading experts, Sunbird FX – home to the metatrader 4.0 platform. All views and opinions belong to the writer and do not necessarily represent Sunbird FX.