How we test
All of our trading app reviews are unbiased and comprehensive. Our mission is to bring you the information you need, without all the extra clutter. So, how do we review trading apps?
We use the most current smartphones to test the best trading apps, we do this to see if the apps are optimised for new devices and more importantly – if they work!
We’re currently testing all trading apps on an iPhone 11 for IOS reviews and a Samsung Galaxy S10+ for Google Play (Android) app reviews.
We use the same internet connection for each review to get a true understanding of the app speed. Speed is extremely important when it comes to trading as this can be the difference between a profitable & unprofitable trade.
1. App download
Firstly, we download the app on an IOS & Google Play Store device for the trading platform we are reviewing.
Next, we register for a standard account on the trading app. Here we take note of how long the process takes along with the required steps. In addition, we use this step as an opportunity to test out the customer support and asking for help filling in the registration form.
3. Signing in
Security is paramount when it comes to trading apps. Once we’ve downloaded the app and registered, we then test how secure the sign-in process is. Some of the questions we ask ourselves are; ‘Has the app got the latest security methods (FaceID, 2FA etc.)?’, ‘Does the app automatically sign out after every session?’.
We then deposit the minimum amount possible on the trading app in question. As standard, we use a Visa card and if it is not available as a deposit method, we use the next most popular method. The purpose of this step in the app review process is to see how easy it is to deposit and how long it takes.
5. Making a trade
This is the part we’re really interested in – the trading experience of the app. We open a regular trade for the minimum amount on the said trading app. What are we looking at on this step?
- Execution – how easy is it to open a trade?
- Tracking – what trade tracking features does the app have (e.g profit/loss)
- Order types – is there a stop loss function?
- Notifications – does the app notify you when there is an update to your position?
- Closing the trade – how quick and easy is it to close the trade?
6. Customer support request
Now that we’ve made a (un)successful trade on the platform – we test the support options on the app to see how quickly we can get an issue resolved. For the purpose of the review, we use the same question for each support request to make the test fair.
One of the most important things people value in a good trading app is how easy or not it is to withdraw from the app. For this part of the review test – we withdraw the remaining balance of our account and take note of how easy the process is along with how long the withdrawal takes to show in our account. To make it a fair test – we use the same bank account, withdrawal method and complete it on the same day/time of the week (working day).