With so many apps to choose from now, it’s important to know which ones are the best, and which ones to avoid. This is especially so in the category of apps for trading stocks as you are dealing with real money, and need something that works well and has good, up to date information. The market is now truly global, operating 24 hours a day, be it the NYSE or The FTSE index in London. With hundreds of options in the AppStore, we all need help in filtering through them all. There are review sites like our own or similar ones like these stock apps recommended by learnbonds, that set out the pros and cons of some of the leading apps. We list some of the important features to look out for in choosing the best.
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Security.
In trusting your money to a 3rd party, it’s vital to make sure that the app or website you are dealing with is financially secure. Although there are watchdogs to help prevent fraud and loss of money, there is always a risk that that something got missed out. You should do some serious due diligence before investing.
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Reliability.
As information becomes more and more important, you should select only a site or an app that offers as close to real time data as possible. No need for Reuters unless you are a professional investor, but apps like Robinhood provide this service for all levels of investor. Constantly check with the ratings in the AppStore because there are frequent updates, and sometimes bugs creep in to the software. It would be bad news for your app to crash just as you tried to place an order.
Data protection.
This has become a bigger issue than ever before as protecting your data is of paramount importance. Not only should you confirm that your data will never be shared, but also research the company involved for any previous instances of hacking or data leakage.
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Password protection.
As it has become much more convenient to use your mobile device for almost any transaction, we sometimes forget that we are open to having our passwords stolen. We suggest you use a password protector to keep them all safe. We list some suggestions on our best vault apps for the iPhone list.
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Be alert and avoid phishing.
Remember that criminals are at this game for a long time and on occasion, a seemingly innocent email to “Update your password” could in fact be a ghost site looking for your sensitive information. Best advice is to be cynical at all times when asked for this.
