Up until recently, being an investor was difficult, as the technology to manage your investments was either 1) very primitive, or 2) wasn’t in existence as we know it today. Now, with mobile investing apps, you can monitor your portfolio whenever you want, do research about a new asset, and even make actual trades.
While investing can sometimes be confusing or intimidating (especially for newbies), it’s an exciting and rewarding activity to get involved to. But in order to make smart and safe trading decisions, you should always be looking for robust, safe and useful financial platforms and trading tools that can help you improve your performance on the go, through more informed and advanced investment decisions.
From saving money, tracking expenses, cost-splitting, transferring money to trading, it’s quite easy to manage your money from your phone nowadays. As the number of financial applications that help you take control of your finances keeps growing, it’s becoming harder to know which ones to focus on – i.e, the truly useful, top-rate apps that will genuinely help you manage your finances.
Find the right mix of functionality, features and security
To determine which financial apps will really help you with your finances, you need to find the right mix of functionality, features and security.
Start by determining your goals, and then think about what features, options and tech specificities you need to accomplish what you want.
As you weigh your options, consider the reputation and popularity of the company supporting the app to be sure your personal information will be safe and secure. Read reviews and understand what people like (or don’t like) about it.
Looking for a CFD trading app?
Using a CFD trading app to take advantage of market movements on the go is a great way to make your money grow, wherever you are.
Once you’ve determined the trading set ups you want to follow to invest your money (in other words, your trading plan), you should be sure that the mobile platform you’ve selected offers all the tools and indicators you need to make your investment decisions in the best conditions.
If your strategy is based on short-term price movements through pivot point trading, you need to be sure that your app offers pivot levels and one-click trading to enter and exit the markets quickly.
Trade wisely when using your mobile: follow your investment plan to avoid overtrading
While mobile apps can be of great use in finding amazing opportunities to invest money in an easy, secure and convenient manner, it’s important to remember that having a trading platform available 24/7 doesn’t mean you have to be trading all the time.
You should just ‘take advantage of the convenience without being tempted into risky financial behavior, such as trading too frequently and making important changes rashly’ explains the Wall Street Journal in Going Mobile: a User’s Guide to Investing Apps.
Financial news and trading apps offer a simple way to better understand the markets and make your money grow through investing. Of course, not all trading and financial apps are created equal, but knowing what you want is a good place to start. Just remember to take your time in deciding what’s best for your investments.
Disclaimer: This content does not necessarily represent the views of IWB.