Most traders have a second full-time job, so they cannot dedicate several hours per day to sitting in front of the computer screen and watching price movements. For them, an optimal solution is to make trades on the go via a mobile app. However, when a beginner tries to find the most suitable application, he usually ends up at a loss as he cannot make a choice. Hence, we decided to provide expert guidance on this issue.
For your convenience, we compiled a list of 8 leading platforms for Australian traders. However, we offer you to start with our guide on how to find the platform suiting your needs perfectly.
First, explore the key criteria you must dedicate your attention to:
· A user-friendly interface. When the design of the app is intuitive, you will not have to waste time searching for functions and tabs needed.
· Compatibility. Check whether the program chosen suits the operating system and model of your smartphone or app. Besides, it will be smart to test it for bugs via a demo account before making any real deposits.
· Processing speed. Any delays in order execution may result in losses as the Forex market is quite volatile. Hence, we recommend you choose the platforms that are equipped with the Straight Through Processing technology.
· Research functionality. Make sure there is access to real-time charts, alerts, updates, news, etc.
· Security features. Search for the apps that offer biometric login, two-factor authentication, and other safety functions.
· User support. Try to contact the support team via chat or email and see how quickly they will respond and solve your problem.
Now, let us move to a step-by-step guide on how to pick up the best trading app Australia:
1. Make sure it is licensed by the ASIC.
2. Explore available assets. Check Forex and crypto pairs, CFDs, stocks, and other assets you are interested in. Also, make sure associated trading fees are reasonable and competitive enough.
3. Check functionality. Meanwhile, make sure all the features you need are easy to find and utilize and avoid platforms with a complex design.
4. Test a demo account. No need to make any real payments to get access to the functionality. You can test any features by trading with virtual money.
5. Register a real account. Opt for apps that do not require too many documents and verification procedures.
In the end, let us present our top list of trading apps available in Australia along with their most profound features:
1. eToro ― easy and comfortable copy trading;
2. Interactive Brokers ― best for stocks;
3. AvaTrade ― a beginners’ choice;
4. IC Markets ― educational content;
5. IG ― low-commission CFDs trading;
6. Oanda ― user-friendly charts;
7. Forex.com ― the most effective analytical instruments;
8. Plus500 ― a leader in terms of safety.
In sum, in Australia, traders have an extensive range of user-friendly and fully-functional mobile apps to choose from. Yet, to avoid scams and safety risks, you had better stick to the rating above.
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