As you can see, eToro has topped our list as the best trading mobile app overall, grabbing an incredible 4.9/5 rating; this is due to its incredible versatility, social features, and worldwide reputation.
With regards to the other apps which made it to the top 10, they vary in terms of strengths, weaknesses, and features – for example; XM is one of our top Forex & CFD apps, and Capital.com is a brilliant mobile app for exchanging cryptos.
Best Online Trading Apps 2020
You can download all of the following mobile apps from online brokers for free.
- eToro: Best overall trading app
- Capital.com: Best for global CFDs
- Moomoo: Best for US stocks
- XM: Best for worldwide trust
- Plus500: Best for active traders
- City Index: Best for customer service
- Robinhood: Best for free stock trading
- Freetrade: Best for stocks/shares UK
- TD Ameritrade: Best for US stocks and ETFs trading
- Forex.com: Best for forex
What is a Trading App?
A trading app is a mobile application which you can use to trade different markets. These apps are usually free and serve as an addition to the main platform offered by brokers.
In this guide, we’ll be taking a look at the different available types of mobile platforms and answering some of the most commonly asked questions.
Types of Trading Apps
Not all mobile trading platforms are the same. They vary in terms of what you can trade, where you can use them and regulation. Let’s now take a look at some of the different types of mobile trading platforms out there.
Stock Trading Apps
Stock apps are mobile trading applications which allow you to buy and sell stocks which are investments in certain companies which sometimes pay out dividends and thus can act as a form of passive income.
Stock trading apps are popular as they offer the general public a way of profiting from the economic growth of companies. If you think a company will do well in the future, you can put your money where your mouth is by buying their stock using stock trading applications and then selling it if/when the price of the stock goes up.
If you live in the United States, I would recommend that you use either TD Ameritrade, Robinhood, Charles Schwab, or the E-Trade stock app for stock trading.
If you live in the UK, I would recommend Freetrade stocks app for free trading.
For global stock trading, our favorite mobile trading mobile app is eToro, although eToro is a CFD trading platform, so you don’t actually own the stocks, but you can still profit from them.
Forex Trading Apps
Currency (Foreign Exchange) trading is another popular type of trading globally.
One of the main reasons people like trading forex is that unlike stock trading, you can trade forex 24 hours per day, 5 days per week – therefore there are far more opportunities to trade the market.
A lot of people who trade stocks turn to forex after the stock market closes for the day. Forex trading platforms aren’t too dissimilar to the other apps listed on this site, the only difference is that most of them connect to a mobile app called MT4 which is basically the standard for forex trading.
That being said, there are some forex apps that have native charts – these are my favorite. Forex trading is more global and in some cases, easier to do than stock trading.
If you’d like to have a go trading some forex on mobile apps, then I recommend you check out Forex.com or XM – both are 2 of our top favorite forex brokers. You can also check out our full list of the top forex apps.
CFD Trading Apps
CFDs, also referred to as ‘Contracts for Difference’ are financial instruments that you can trade through a variety of different broker firms.
They allow you to profit from price movements of stocks, commodities (like oil for example), indices, shares, forex, and more – all without having to buy or sell the underlying asset.
CFD trading platforms are one of the most common types, as they provide an easy way to trade anything all from one app.
As you might have noticed from the list above, our best global CFD mobile app is Capital.com, although eToro also provides a huge range of CFDs globally too, and has a nice feature that lets you copy other traders.
Bitcoin & Crypto Trading Apps
The meteoric rise of cryptocurrencies in 2017 led to a severely increased interest in the crypto markets.
You can trade popular cryptocurrencies like Bitcoin, Ethereum, and XRP on several mobile trading platforms all over the world now.
There are two main types of crypto trading, one involves actually buying/selling cryptocurrencies (spot trading), and the other involves exchanging contracts based on the price of cryptocurrencies (similar to CFDs) rather than physically owning them – this allows you to use something called leverage which can increase profits, but also losses.
We’ve put together a list of our top Bitcoin trading apps.
There are other types of trading, including options, mutual funds and ETFs – but there are only so many that we can include in one list, so we kept it to the most popular and beginner-friendly types of trading.
Are Trading Apps Legit?
The majority of trading apps are legit, however, that being said, there are some illegitimate ones floating around. This is one of the main reasons we started this site; to help you find only legit and trusted apps.
Trading App of the Month (April, 2021)
Capital.com is Trading Apps trading app of the month due to its varied asset options, competitive fees and ease-of-use for newer and the most experienced traders.
– 0% Commissions
– Free Sign Up
– Educational courses
– Fast orders
Below we have listed some of the most popular pages on the site.