Stock Trading Apps Vs. Other Trading Apps
Today you can trade any imaginable instrument and derivative using only your smartphone or tablet, but it hasn't always been like that. Only a few years ago, trading apps were awfully limited and often not more than glorified mobile charting tools that could only dream of competing with their desktop versions.
Over the last 5 or so years, the development has been rapid, and most mobile trading platforms are now full-fletched trading tools that can be used to analyze and monitor as well as open and close positions.
The development started with cross-market platforms such as MetaQuotes’ MetaTrader 4 and 5 which offered everything from forex and indices to stock trading. However, it didn’t take long before the stock market took over and today, the best mobile trading tools are stock trading apps.
Take a look at the American stock trading app Robinhood, for example. In our opinion, the Robinhood is superior to most mobile trading apps out there and not only because of the no-fee approach but because of the software itself. Trading stocks using Robinhood is much easier than on other platforms.
Another good example is the difference between the MetaTrader 4 and the MetaTrader 5 platforms. Most traders would agree that the MetaTrader 4 platform, which is mostly aimed at the forex market, is lacking a bit in comparison with the newer MetaTrader 5 which has been designed to support the world’s stock markets.
But the question still remains. Why are stock trading apps better than other trading apps?
The Answer Lies In the Difference Between the Markets
There are, in fact, several reasons why the stock market is going mobile faster than other markets, but the main one has to do with the difference between markets.
Compared to other available markets, the stock market is the most well-established and user-friendly. Now, some of you might comment that the foreign exchange market is the biggest in the world, which is true. However, the forex market is big thanks to institutional investors and central banks.
When it comes to retail traders, the stock market is still the most attractive. It’s also the market that gets covered the most in mainstream media which only makes it even more attractive to new traders.
In turn, this has resulted in stockbrokers receiving more new traders than other brokers, and it’s the demand that drives development and innovation.
So, the reason why stock trading apps are better than most other trading apps is that brokers focus on meeting demand where it’s needed.
With that being said, some of the leading trading apps in the world are cross-market platforms that allow you to trade stocks, forex, and other instruments. Also, all of the leading online brokers offer state of the art mobile software regardless of which market they focus on. It just so happens to be that the stock trading apps are slightly better than their competitors.
It has never been easier to trade using mobile software, and the market is growing so rapidly that you can see major differences in the software offered from year to year. And thanks to a higher demand and interest in the stock market, stock trading apps have been spearheading the development during the last few years.
To learn more about the best stock trading apps and other mobile trading tools, we suggest you follow the link further up in this article.