Trading App Test 2021 - Best Trading & Broker Apps in Comparison (Our Experience)

Up-to-date and reliable information is the basic prerequisite for sound decisions in any investment and thus the foundation of any successful investment strategy. In addition to classic financial media and business channels, financial apps and trading apps are becoming increasingly important for many traders, as they are quickly and flexibly available on the smartphone at any time and anywhere.

Trading App
Trading App

We show you the best trading apps,

that allow you to trade on your mobile phone or tablet
that let you keep an eye on your portfolio on the go
where you pay the lowest fees
that are easy to use for beginners and advanced traders alike.

eToro Logo

Our test winner

Our test winner in the area of trading apps is eToro. eToro scores best due to its ease of use and extensive features.

Click here to go directly to our recommendation eToro.

The processing of one's own capital transactions is even more convenient with the help of trading apps, which, in addition to a broad range of information, also offer the possibility of reacting to current news and changes on the capital market with a few clicks or swipes via trading platforms and to reorganise one's own portfolio accordingly by placing orders.

In addition to ease of use, the clarity of the information offered, individual filter and selection options and the tools required for placing orders are of particular importance when evaluating trading apps. Based on these criteria, we have tested various apps and created a ranking of recommendable applications.

Mobile trading with trading apps

Trading means exploiting fluctuations in the financial market for your own profit. For anyone who does not observe markets full-time and can react at short notice, trading can sometimes be a difficult matter. A few trading instruments, such as stop loss markers, at least ensure that an impending loss can be limited.

Another possibility is the use of trading or broker apps. These applications are specially developed for mobile devices such as smartphones or tablets and offer traders the possibility to react to market fluctuations or financial news at short notice. No matter whether they are at the beach, the pool or at work. Trading, or broker apps are also referred to as online trading or broker apps.

with trading apps

Most apps offer the same functions as the associated trading platforms we already know. As a rule, currencies, cryptocurrencies, shares, commodities and precious metals can be traded. Other functions can include checking prices, placing orders or analysing securities accounts.

Depending on the provider, different trading options are available. Likewise, demo accounts and/or social trading are available with the large mobile providers as well as on the associated platforms.

The best trading app providers at a glance

App provider

Functions

Operating systems

eToro App

 Social trading
 free demo account
 mobile analysis tools
 free demo account
 mobile trading possible

Android & iOS

Libertex app

 free demo account
 mobile analysis tools
 mobile trading possible

Android & iOS

Capital.com app

 mobile trading possible
 mobile access to more than 3,000 markets
 mobile analysis tools
 Price notifications

Android & iOS

Plus500 app

 mobile trading possible
 free demo account
 mobile analysis tools

Android & iOS

flatex trading app

 Favorites adjustable
 mobile trading possible
 Tips for beginners and video tutorials

Android & iOS

Comdirect Trading App

 mobile analysis tools
 mobile trading possible
 adjustable course alarms

Android & iOS

Consorsbank APP

 mobile trading possible
 adjustable course alarms

Android & iOS

IG Markets  

 free demo account
 mobile trading possible
 Free choice
 mobile analysis tools

Android & iOS

CMC Markets App

 mobile trading possible
 customizable interface
 free demo account

Android & iOS

Moneta Markets App

 mobile trading possible
 Real-time quotes
 free demo account

Android & iOS

Top 10 Trading & Broker Apps in detail

Let's now take a look at what the trading apps can do exactly:

eToro
Libertex
Capital.com
Plus500
flatex
Comdirect
Consorbank
IG Markets
CMC Markets
Moneta Markets

The trading app test winner: eToro

Toro is one of the big players in the field of financial services for private and individual clients. Founded in 2007 as a pure forex trading platform, the provider is particularly known for its comprehensive social trading options. A total of around 10 million customers from 140 countries use the platform's services. They can trade directly and easily with their smartphone.

Buy cryptos with eToro
Beobachtungsliste


Diagramme


Copytrading


Beobachtungsliste

Diagramme

Copytrading

There are two options:

Proprietary trading, in which the investment is designed on the basis of one's own research and trading strategies, or
Joining the portfolio of a so-called signal provider, i.e. transferring it 1:1 to your own portfolio.

etoro homepage - Trading with confidenceIn total, several thousand underlyings from the following trading segments are available:

Forex,
shares,
indices,
ETFs,
bonds,
(crypto) currencies,
commodities and
CFDs

Trading at eToro can initially be tested for an unlimited period with a free demo account.

It is possible to start live trading with a capital of 200 USD, later at least 50 USD must be deposited per deposit. Financial supervision is carried out by both the British FCA (Financial Conduct Authority) and the CySEC (Cyprus Securities and Exchange Commission). This guarantees deposit protection of up to €20,000 per investor.

The fee schedule recorded in spreads is not entirely clear, as different fees are due depending on the investment vehicle. The app, which is available for iOS and Android, is clearly designed and easy to use.

A newsfeed clearly presents news and transactions of preferred signal providers. An in-house trading academy additionally offers the possibility to deepen one's own knowledge with live webinars, eCourses and trading videos.

newsfeed clearly presents

Pros

  • Huge selection of assets
  • Extensive social trading options
  • Unlimited free demo account
  • News feed and trading academy

Cons

  • Deposit protection according to CySEC standard (20,000 euros)
  • Withdrawal fee

Conclusion:

As a global player in the field of financial services, eToro has extensive know-how from which even capital market newcomers can benefit.

A free demo account, simple operation and helpful tools such as the NewsFeed and the Trading Academy offer additional opportunities for new customers. These facts make eToro our trading app test winner. Only the fee schedule could be a little more transparent.

Libertex

Libertex is one of the top dogs among online brokers, the company was already founded in 1997. Based in Limassol, Libertex is a regulated online broker (CySEC) that offers users legal deposit protection up to EUR 20,000 (Investor Compensation Fund - ICF). The following CFD trades are possible here:

ETFs,
shares,
foreign exchange,
indices,
cryptocurrencies and
commodities.

libertex
Market overview


Tradingd


Shares


Market overview

Trading

Shares

At Libertex, you can trade with a leverage of up to 1:30 (private investors) or 1:600 (professional investors). Attention: High leverage is of course always associated with high risk. A total of 213 tradable assets are currently offered. All account types offer access to the detailed analyses and reports of the market institute Trading Central.

As a Libertex customer, you can choose between using the proprietary Libertex platform and the world's leading trading software MetaTrader 4. While beginners are well advised to use the Libertex platform, professional traders, on the other hand, will opt for the MT4 platform.

The online broker Libertex offers a clear and transparent fee structure, whereby the provider, unlike most of its competitors, does without spreads. Libertex, on the other hand, finances itself exclusively through a commission, i.e. a surcharge stated as a percentage, which has to be paid with every executed order.

Neither deposit nor withdrawal fees or inactivity fees are charged. For leveraged trades that remain open overnight, appropriate swap fees are charged.

As deposit methods, users can choose both credit card, debit card, bank transfer, the Sofort payment service or numerous popular e-wallets. Regardless of the deposit method chosen, the minimum deposit amount is EUR 100.

Libertex is an extremely reputable CFD platform. The offer is right, opening an account is easy, positive reviews can be found on the internet and Libertex sponsors Sevilla FC and Tottenham Hotspur.

Neither deposit

Pros

  • Regulated broker (CySEC) with 23 years of experience
  • Large selection of CFDs on shares, forex, ETFs, indices, cryptos, commodities
  • Over 40 crypto CFDs and crypto pairs on offer
    Simple and user-friendly smartphone app (iOS/Android).
  • MetaTrader 4 is supported
  • Free demo account can be used without restrictions
  • Legal deposit protection up to 20,000 EUR (ICF)
  • Market news from Trading Central for all account types

Cons

  • Limited types of account types
  • Little training material

Conclusion:

Libertex is a small all-purpose weapon that enables trading in many assets via CFDs. Overall, the platform founded in 1997 has an extremely broad product portfolio. On top of that, it has an excellent trading app that makes it easy to trade on the go.

No wonder it has become one of the most popular platforms worldwide - our number three in the trading app test.

Capital.com

Capital.com is a CFD broker from Cyprus that was founded in 2016 and quickly built up a large user base of more than 20 million traders. The platform convinces with its clear trading interface, extensive training and learning material, large asset selection from more than 3000 assets and innovative AI functions.

Although Capital.com is only a few years old, the provider scores points for its functions, such as the website, which not all brokers can offer.

capital com

The following assets can be traded at Capital.com:

Forex (138)
Indices (27)
Cryptocurrencies (over 200)
Commodities (37)
Shares (over 3000)


Another great advantage of the platform: while many brokers require high minimum deposits of 250 euros or even more, at Capital.com you can start trading with just 20 US dollars or even 20 euros. Capital.com basically offers three account types: The Standard Account as well as the Plus and Premier Account. The three accounts do not differ in terms of fees, but only in terms of additional functions and are determined by the amount of money deposited.

The Standard Account is what you normally get up to a deposit of 3000 US dollars. All important functions are already included here.
The Plus and Premier Account are available from a minimum deposit of 3000 and 10000 US dollars respectively. You also get your own account manager and exclusive offers.
Both accounts offer access to all markets listed above, leverage of up to 1:30 according to EU regulations, micro-lot trading, learning videos, AI functions and extensive risk management tools.

Capital.com is largely financed by the spreads, only in some cases additional fees are added. These can be incurred, for example, for overnight funding or currency conversions. Capital.com does not charge any fees for deposits and withdrawals.

The broker is regulated by CySec, the FCA and the Belarusian Central Bank. This means that deposits are automatically covered by the European deposit protection up to 20,000 euros.

Capital.com is largely

Pros

  • Clear platform
  • Broad product portfolio of over 3000 assets
  • Minimum deposit from as little as 20 euros
  • Regulation by CySec and FSA

Cons

  • No CFDs on ETFs tradable

Conclusion:

Capital.com is rightly one of the up-and-coming brokers that put the user at the centre of trading. It is not without reason that there are now more than 20 million registered users: the features and prices are simply very convincing.

Plus500

Plus500 is a broker that focuses on forex and CFD trading. Plus500 was founded in 2008 and has its current headquarters in Israel. The provider is regulated by the British Financial Conduct Authority (FCA).

plus500

The provider is particularly convincing due to its large range of tradable underlyings and the possibility of trading from the desktop as well as from mobile devices. The trading platform is available in three different versions:

Mobile Trading APPPlus500 App
Desktop platform
Browser platform
A free demo account can be used at any time to test new trading strategies or to familiarise yourself with trading.

The minimum deposit is 100 euros, so that small investors have the opportunity to trade. Traders can choose to deposit in euros, US dollars or British pounds. A total of more than 30 currency pairs and CFDs are available for trading at Plus500. There is no margin call obligation at Plus500.

Mobile Trading APPPlus500 App

Pros

  • Regulated broker since 2008
  • > 30 tradable currency pairs and CFDs
  • Browser, desktop and mobile app
  • Free demo account
  • Simple and user-friendly handling
  • Minimum deposit 100 euros

Cons

  • Customer support difficult to reach
  • Long term for withdrawals
  • Order restrictions

Conclusion:

For small investors, the broker is a good choice and enables clear trading in foreign exchange and CFDs even for beginners. For the somewhat professional investors who want to invest larger amounts, numerous order restrictions are an obstacle. For us, Plus500 made it to fourth place in the best trading apps.

flatex

The online broker has been present on the trading market since 2006 and now serves over 120,000 traders and investors in online trading.

flatex

However, anyone who wants to speculate with CFDs must raise a minimum amount of 1,000 euros, so CFD trading via flatex could be unattractive for many small investors.

The flatex trading platform is available as a web platform and mobile trading app for Android and iOS systems. For those seeking help, customer service is available by phone, email or live chat.

The minimum deposit is 100 euros, so that small investors have the opportunity to trade. Traders can choose to deposit in euros, US dollars or British pounds. A total of more than 30 currency pairs and CFDs are available for trading at Plus500. There is no margin call obligation at Plus500.

minimum deposit

Pros

  • BaFin regulated broker since 2006
  • Orderflat
  • No minimum deposit for securities trading
  • Free custody account

Cons

  • High fees for CFD trading
  • Minimum deposit 1,000 euros for CFD trading
  • Platform partly not stable

Conclusion:

Unfortunately, we could read from many experience reports that the platform tends to be instable in times of hectic markets. The fact that a minimum deposit of 1,000 euros is required for CFD trading also cost flatex a few points in our test. Nevertheless, flatex was able to convince with other criteria and made it to fifth place in our trading app test.

Comdirect

Founded in 1994, Quickborn-based comdirect bank is one of the online banking pioneers.


The direct bank has specialised in a broad range of services for private customers. 

Comdirect

Through the broking offer, they have access to stock exchanges in 32 different countries worldwide, where they can trade in the following assets:

Shares,comdirect logo
ETFs,
certificates and
CFDs (Eurex)

It can be somewhat confusing, especially for new investors, that banking and online trading are largely handled separately both on the browser-based platform and in the mobile apps, so that two or even three (in the case of CFD trading) separate accesses are usually required to use both offerings (individual trading functions are also possible with the combination app "Mobile App").

In addition, securities account management is possible free of charge with the "ProTrader" software of the trading app.

Since a demo account is only available in the CFD app (with 50,000 euros virtual credit), experience with the other trading apps can only be gained in live trading or to a limited extent with the help of sample portfolios.

Overview - Values of Dax, Bitcoin and much more follows the usual procedure.

A compact and functional account overview provides users with all the necessary information on invested and free capital as well as current profits and losses with just a few swipes (usually in real time). Watchlists and news from the economy and politics provide a further overview, but charts and data (with the exception of the real-time prices of Deutsche Börse in ProTrader) are only displayed with a slight time delay.

The fees for domestic trading are a uniform 4.90 euros plus 0.25% of the order volume (minimum 9.90 euros, maximum 59.90 euros).

A monthly custody account fee is waived for new customers in the first three years, after which a fee of 5.85 euros per quarter is due if the customer does not maintain a current account or savings plan with the bank or makes fewer than two trades per quarter.

To train their own trading skills, Comdirect offers users the option of course units via text, video and PDF; the app can also be used for this purpose. Contacting the provider is possible via the contact form or by telephone (Mon - Thurs, 09:30 - 16:00; Fri, 09:30 to 12:30).

Neither deposit

Pros

  • Functional account overview
  • Stand-alone trading software "ProTrader"
  •  available free of charge
  • High security due to BaFIN regulation
  • Clear fixed fees
  • No deposit and withdrawal fees

Cons

  • Separate apps for banking, trading and CFD
  • No demo account (exception: CFD app)
  • Quarterly custody account fees may be due after three years
  • Limited availability of telephone support

Conclusion:

Due to its clear fee structure and its good information and training offer, comdirect can also become an interesting option for new investors.

However, the division of the individual trading segments into different apps or accounts, the lack of a demo account (with the exception of CFD trading) and the limited availability of telephone support are negative points.

Consorsbank

Consors Bank, founded as a private bank in 1994, was taken over by the French financial services provider BNP Paribas in 2002. The headquarters of the direct bank, which serves around 950,000 customers, is located in Nuremberg. In addition to other classic banking products for private customers, Consors also offers online broking with almost all investment vehicles except currencies.

Consorsbank

Since no free demo account is available, even trading beginners have to start directly in live trading.

A web-based platform and the following stand-alone software are available for trading:

Active Trader,
Active Trader Pro,
Future Trader,
Premium Trader


However, only Active Trader is available free of charge, for (almost) all other stand-alone trading software fees are charged, which are based on the respective account status of the customer (StaTrader, Platinum Stars, StarInvestors). For smartphones, a trading app is also available for iOS, Android and in the Windows App Store.

In addition to the mandatory information, authentication by PostIdent or VideoIdent is also required to open an account.

In terms of fees, Consors scores points by waiving custody account fees as well as fees for placing orders. Certificates and bonds, a fixed commission of 4.95 euros per transaction is due, plus 0.25% of the transaction volume and, if applicable, other fees depending on the trading venue. Similarly clear fees are charged for trading foreign shares. Other additional fees such as deposit and withdrawal fees are not due.

The clarity of the platform is particularly helpful for new investors. In addition to current price and chart representations, a "market overview" also informs about upcoming dates on the financial market. The "Newsflow" provides the necessary information on daily developments. In order to meet the personal interests of the users, they can create watch lists at will, with which individual values can be observed.

Positive: Automatic synchronisation keeps the personal lists up to date, regardless of whether they were created via the app or on the PC.

In addition to FAQs and a financial glossary, Consorsbank offers its own blog, a comprehensive community and numerous seminars and webinars for personal knowledge enhancement. Contact can be made via email, chat and telephone hotline (Mon - Sun, 07:00 to 22:30). If desired, a telephone consultation appointment can also be arranged.

Consorsbank-Trading-App

Pros

  • High security standards (BaFIN deposit protection)
  • No custody fees
  • No deposit and withdrawal fees
  • Clear fee schedule
  • Up-to-date information thanks to "Newsflow" and "Market Overview
  • Hotline available from Monday to Sunday

Cons

  • No demo account available

Conclusion:

Low and clear fees as well as a comprehensive range of information make the Consorsbank trading platform a good option for both newcomers and experienced traders on the capital market.
However, it would be desirable to set up a free demo account to optimise risk.

IG Markets

The British broker, which has been active since 2006 and has a branch office in Düsseldorf, offers interested parties the opportunity to trade in:

Currencies,IG Markets Logo
equities,
commodities,
options and
indices.

In total, over 8,000 different financial instruments and 75 currency pairs are available. Trading is possible both via the L2 Dealer software and via app (available as iOS and Android app).

IG Markets

Thanks to a free demo account, newcomers can test the app's functionality without financial risk with a virtual capital of 10,000 euros, but only for a maximum of 14 days.

Award from Focus Money of 20 CFD brokers with the best technology Award to IG MarketsThe opening of a real account follows the usual industry regulations (specification of email address and password, mandatory personal information, information on available capital and previous knowledge, risk instruction). In addition to the video and Postident procedure, authentication is also possible by sending in a copy of an identity document. The customer can then choose whether the securities account is to be kept in euros, US dollars or British pounds.

There is no minimum deposit amount. In addition, the spreads are relatively favourable from 0.8 pips.

A wide range of news, analyses and financial dates offers customers up-to-date information. Through interactive learning material and webinars, customers can deepen their own financial knowledge at will.

Due to the control of the British Financial Conduct Authority (FCA) and the secondary control by the Federal Financial Supervisory Authority (BaFin), the security standard of the broker is extremely high. Customers are well protected in the event of insolvency; the deposit guarantee is at least 50,000 GBP per customer.

IG-Markets-Trading-App

Pros

  • Over 8,000 financial securities available
  • No minimum deposit
  • Low trading fees
  • High security standards through FCA and BaFIN regulation
  • All information, incl. support hotline
  • Free choice of deposit currency

Cons

  • Free demo account only available for 14 days

Conclusion:

IG Markets meets all the requirements of a customer-friendly trader. In addition to a large selection of financial stocks and favourable fees, the broker's high security standards should also be mentioned.

However, the limited time frame (14 days) for a free trial of the information and services remains incomprehensible.

CMC Markets

Founded in 1989 in the UK, CMC Markets Group has many years of experience in classic forex and CFD trading. With the opening of its forex platform in 1996 and the expansion to derivatives trading in 2000, the company is one of the pioneers of digital forex and CFD trading. Today, users of the platform get access to 5,500 underlying assets from the areas of:

Shares,CMC Markets Logo
indices,
commodities and
bonds as well as
300 different currency pairs.

CMC Markets uses its own software called "Next Generation", which was developed in cooperation with Adobe. This is available both as a web-based version and as a good app for iOS and Android in the App Store.

CMC Markets

A special refinement of the application is that trading can be done comfortably and quickly with just one click / swipe directly from the displayed charts. An interface surface that can be adapted to the individual needs of the customer further simplifies usability and clarity.

New customers can test the functionality of the platform with a free demo account with a virtual credit of 10,000 euros. Comprehensive guides, platform manuals and webinars help to find one's way around the platform and to expand one's own skills.

CMC Markets is one of the few providers to waive a minimum deposit for real-time trading with a live account. Overall, the requirements for starting real-time trading are also comparatively low.

Award-winning trading platform with personalised customer service - CMC Markets

As usual, CMC Markets charges fees for trading in spreads, whereby a minimum commission of 5 euros is always due. Additional surcharges may be incurred by holding positions overnight or over the weekend (known as holding charges), as well as for inactivity (10 euros per month).

Note: According to the provider's guidelines, an account is considered inactive if no trading activities can be recorded for more than 2 years and no positions are open. In addition, fees for guaranteed stop loss orders (GSLO) - which are actually supposed to protect against losing money quickly - may also be due under certain circumstances.

The company is regulated by the London headquarters of the British Financial Conduct Authority (FCA), which is considered particularly strict. For individual support enquiries, the speaking customer service is available via e-mail, live chat or telephone (weekdays between 8:00 a.m. and 8:00 p.m.).

Neither deposit

Pros

  • No minimum deposits required
  • Order placement with one click / swipe
  • Variety of order types
  • Extensive learning tools

Cons

  • Holding costs and inactivity fees

Conclusion:

The clear platform, comprehensive learning opportunities and the simple and fast placement of orders make CMC Markets an excellent trading app, also for beginners, which is recommended without restrictions.

Only holding costs and the threat of inactivity fees provide a small blemish.

Moneta Markets

Moneta Markets is a new broker founded in 2020 by Vantage International Group Limited. Vantage Int. is an established broker and has been trading since 2009. With its headquarters in the Cayman Islands, Moneta is regulated by the local regulatory authority CIMA, so one can speak of a reputable and also proven broker via the parent company. 

Moneta Markets

Since Moneta Markets is a CFD broker, a variety of CFDs can of course be traded on values of the following categories:

ETFsMoneta Markets Logo
Shares
Forex (currencies)
Indices
Commodities
major cryptocurrencies

At Moneta Markets, you can trade with a trading leverage of up to 1:30 (for private investors) or up to 1:600 (professional investors only). The respective maximum differs from asset class to asset class. Caution: A high degree of leverage always entails a high degree of risk, especially with volatile shares and unpredictable stocks. A total of over 260 trading pairs are available. At Moneta Markets, there is only one account type, but it offers all functions.

As is usual with other brokers, at Moneta you can choose between using an in-house web interface (which won a prize in 2020) and the popular MetaTrader 4 or 5 trading software. Beginners and few traders are in good hands with the web-based interface, while Metatrader offers more advantages for absolute professionals.

At Moneta, you do not have to pay any regular fees for your account and the account opening is also free of charge. Withdrawals are also completely free of charge. However, the actual trading fees in the form of the spread itself are flexible and not fixed. As usual with other brokers, the respective spread depends on the currency pair and is slightly above average with this broker, as the spread is almost the only source of income for Moneta Markets.

Deposit methods here can be credit card, debit card, bank transfer, Bitcoin, FasaPay, Sticpay and JBC, with a minimum deposit amount of $200 no matter which payment method you choose.

Moneta Markets is an up-and-coming and fast-growing broker that, after only one year on the market, has already won an award from M&A Today for its innovatively good web interface. A short time later, its excellent customer service also won an award from CV Magazine.

Mobile Trading APPPlus500 App

Pros

  • Regulated broker (CIMA) with very good customer service
  • More than 180 CFDs on shares from all over the world
  • Whole 45 forex currency pairs and 6 well-known cryptocurrencies tradable
  • Very simple and user-friendly interface App & Online
  • Support for MetaTrader 4 & 5
  • Free demo account and over 100 training videos for clients
  • Client funds are securely stored in individual accounts

Cons

  • Limited selection of shares
  • Payout only possible by bank transfer
  • Fees are not fully transparent

Conclusion:

Moneta Markets is a good and particularly simple CFD broker that allows trading in many different assets and especially CFDs. With over 260 trading instruments, Moneta has a very wide variety of trading options.

Together with the excellent customer support and the award-winning web & app platform - our number two in the trading app test.

Overview of features of various trading & broker apps


Demo account

Maximum leverage

Charting

Risk management

eToro 

Yes

1:30

Yes

Yes

Libertex

Yes

1: 300

Yes

Yes

Capital.com

Yes

1:30

Yes

Yes

Plus500

Yes

1:30

Yes

Yes

flatex

Yes

1:30

Yes

Yes

comdirect

no

1: 5

Yes

Yes

consorsbank

no

1:20

Yes

Yes

IG Markets

Yes

1:30

Yes

Yes

CMC Markets

Yes

1: 500

Yes

Yes

Moneta Markets

Yes

1: 500

Yes

Yes

What are the advantages of using a trading app?

With a trading app, trading in securities is possible at any time and from any Internet-connected location in the world. The advantage of a trading app is therefore obvious. Traders who do not have the possibility to access their securities account via a computer at any time can react quickly and flexibly to price changes and news from the financial world via a trading app.

No matter where they are in the world. All traders need is the app installed on their smartphone or tablet and a stable internet connection.

Best trading app to practice with for beginners and novices

Beginners should go for our test winner eToro. The online trading app has a demo account and social trading. This allows beginners to easily familiarise themselves with trading and the functions without having to use their capital for practice purposes

The Trading App demo account has a virtual credit balance of 40,000 euros. The amount can be used as the mood takes you, without beginners having to fear for their invested capital. Of course, the profits are also only available virtually. Anyone who has tried out all the functions with the demo account is ready for trading in the real trading account.

Installing the eToro trading app: step-by-step guide

After testing various trading apps, we recommend our test winner eToro for mobile trading. The app offers all the functions that we know from the platform and is particularly suitable for trading beginners. The trading app is available for Android and iOS users in the respective stores and can be set up easily in just a few steps.

Step 1: Download the app

Android users can download the app from the Google Playstore. For iOS, the download is available in the Apple Store. Alternatively, eToro offers links to the download apps on its own homepage. The installation of the apps only takes a few minutes.

Step 2: Register in the app

If you are not yet registered on the platform, simply register again. You can either enter your username, email and password manually or use your Facebook or Google account to log in. You will then receive an email with a confirmation link that you need to click.

In the next step, personal details are requested, such as date of birth, name or address. The data is needed for verification and for later deposits and withdrawals. Registration without providing the data is not possible, as eToro as a broker is required to store at least this data of the users.

After sending the data, a window opens in which we have to answer questions about our previous trading experience. At this point we have the option to use a live chat with eToro customer support. At the end of the questionnaire, we receive an assessment of our previous experience and suggested actions to go with it.

The next step is our verification. To confirm our authenticity and the accuracy of our data, we need to upload an identification document. A photo of the passport or ID card is sufficient for the mobile trading app. After confirming the picture, the trading app is ready for use.

To familiarise yourself with the app and its functions, we recommend using the demo account first. For beginners, the demo account is a real opportunity to familiarise themselves with trading itself.

Step 3: Top up your mobile account

Before you can start trading, you first need to fund your account. eToro offers a variety of payment options in the trading app. These include credit/debit card, PayPal and SOFORT bank transfer.

As soon as the deposited amount is credited to the account, trading can begin.

Important features of the best trading app

In our test, we not only paid attention to fees and installation, but we also looked at whether the providers have taken important functions and features into account in their online trading apps:

Using chart histories, investors can track historical prices. Price histories can help to find the correct time to buy or sell an asset.
Those who use a trading app for trading want simple functions and the possibility to close a trade or place an order with just one or a few clicks. User-friendliness and functions that can be learned quickly are important criteria for app trading.
The question of the accessibility of customer support is also important. It is important to have a direct line in case of problems and support and not to be on hold by phone. The best option is a live chat that can be conducted directly from the app. Our test winner eToro scored particularly comfortably on this point.
The choice of payment options is also an important point. The most common payment options are by bank transfer or credit card. PayPal offers special buyer protection, but is so far only offered as a deposit option at eToro.

Regulation and margin calls in the trading app

When choosing a trading app provider, it is important to consider the regulation and the rules regarding any margin requirements.

Regulation

If you want to trade safely, you should pay attention to the regulation of the provider's activities. It is not important that the app itself is regulated, but rather that the brokers behind the apps are licensed. The regulation of an online broker by the European authorities can be significant for investors and offers some advantages in terms of security:

Investors' capital is held in escrow so that it does not belong to the insolvency estate in the event of the provider's insolvency.
Deposited capital is subject to deposit protection.
Brokers must have a certain minimum capital to operate a trading platform or trading app.
Government regulation provides traders with a safe trading environment and has safeguards and controls in place to protect investors. This is not to say that unregulated providers are dubious, but if you want to be on the safe side, you should look for European licences. The providers refer to the licences most on their website. European authorities regulating online brokers are for example:
Bafin - Federal Financial Supervisory Authority.
Cysec - Cyprus Security and Exchange Commission (Cyprus)
FCA - Financial Conduct Authority (Great Britain)

Margin call

In addition to the broker's licensing, investors should also pay attention to any margin requirements or margin calls. Margin calls arise when the trading account falls below zero, i.e. losses ensure that the credit balance on the trading account is not sufficient to cover the losses.

In principle, this should not be the case, as brokers use various tools to prevent margin calls or at least warn investors beforehand, but margin calls can still occur in rare cases. In the main, margin calls occur in margin trading or when trading futures contracts. Margin calls can also occur in CFD trading.

Small investors are exempted from margin requirements in CFD trading by a decree of the ESMA (European Securities and Markets Authority). The decree dates from 01.08.2018 and states that CFD accounts of retail investors may not fall below zero. The broker alone bears the risk. The licensing of the provider is irrelevant, the decree applies to all CFD trades made in the European Union.

There are trading platforms and trading apps that completely waive the margin call. The trading possibilities with leverage are clearly restricted in these cases and limited to leverage up to a maximum of 1:30.

Trading App Fees: What do trading apps cost?

Of course, before downloading a trading app, it is also important to look at the fees and costs that you will incur later. Therefore, we have compiled the most important cost points below:

Fees of the three best trading apps in comparison

Trading conditions


eToro

Libertex

Capital.com

Deposit

No

No

No

Buy

No

0.22%

No

Hold / overnight

No

No

variable

Sell

No


No

Payout

5 USD

No

No

other fees

No

No

Spread fees (variable)

Trading app for free: Who offers free trading?

Most trading apps can be used free of charge. Costs are only incurred when trading takes place. However, users should be aware of these costs, as they can significantly reduce profits. eToro, Libertex and Capital.com offer their trading app free of charge, but fees still lurk here.

As a rule, the fees are similar among the providers, but small deviations are often significant, especially for small investors. eToro was the only provider that convinced us in our test. Apart from withdrawal fees, there are no other costs for trading.

Accepted payment methods of the trading apps

We have already mentioned that flexible and secure payment options are one of the most important features of a good trading app. We have compiled the most secure payment options here:

PayPal

Instant bank transfer

Credit / debit card

  • Direct deposit and immediate availability for trading
  • Offers comprehensive buyer protection
  • Bank details remain anonymous
  • Payouts also possible via PayPal
  • Available as a deposit option at eToro
  • Immediate availability of the trade amount on the account
  • Transfer only possible with online banking access data and TAN
  • Payment service provider Klarna
  • Immediate availability of the deposited amount on the trading account
  • Payment is secured by banks
  • Bank data are protected against misuse
  • Among the top trading app providers we have mentioned, you will find the following payment methods:


    transfer

    PayPal

    Credit card

    Neteller

    Instant bank transfer

    eToro 

    Yes

     Yes

    Yes

    Yes

     Yes

    Libertex

    Yes

    no

    Yes

    Yes

     Yes

    Capital.com

    Yes

    no

    Yes

    Yes

     Yes

    Plus500

    Yes

     Yes

    no

    no

    no

    flatex

    Yes

    no

    Yes

    no

    no

    comdirect

     Yes

    no

    no

    no

    no

    consorsbank

     Yes

    no

    no

    no

    no

    IG Markets

    Yes

     Yes

    Yes

    no

    no

    CMC Markets

    Yes

    no

    Yes

    no

    no

    Moneta Markets

    Yes

    no

    Yes

    no

    no

    Minimum deposits for trading apps

    Most operators of a trading platform or trading app require a minimum deposit on the trading account. In our test we compared the minimum deposits of the three best providers:

    eToro: 200€
    Libertex: 10€
    Capital.com: 20€


    Especially for trading beginners, minimum amounts of up to €200 are sufficient for the beginning.

    Customer service

    How does Demo App Trading work?

    A demo account is a trading account with virtual credit. This credit is available to everyone as play money, so to speak, to simulate real trading and gain experience. In general, the aim is to get to know the functions and the app or platform of a broker. For beginners, demo app trading has the additional benefit of learning more about trading.


    In summary, the following applies to Demo App Trading:

    Risk-free learning of trading and investment
    Risk-free testing of the trading platform
    Testing the fees
    Try out new trading strategies without risk
    The scope of demo app trading always depends on the respective provider. In principle, however, a demo account should have the same functions and markets as the real money account.

    Best trading app for Android and iOS

    In our test, the eToro trading app was particularly convincing. Our test winner provides the app for the mobile operating systems Android and iOS in the respective app stores as a free download.

    Installing the app is simple and can be done in just a few steps. Thanks to the user-friendly interface, handling the app is also very simple and easy to understand even for beginners.

    Both versions of the app offer the option of using a demo account and also the copy trading function, a form of social trading. We were particularly impressed by the various deposit options on our trading account.

    Our trading app experience

    Trading apps are on the rise, the possibility to trade at any time and from any internet-connected place in the world is very tempting for many traders. But what do trading app experiences say about this flexible trading option? We have looked around in various forums and summarised the trading app experiences of users here.

    Clear
    Fast
    Uncomplicated

    These are three keywords that we read again and again in the app experiences. Traders like the possibility to react quickly to market conditions and fluctuations. Criticism is gratefully accepted and mostly answered by the app developers. Errors and bugs in the apps are quickly corrected so that mobile trading can really be fun.
    The criticism that is voiced about trading apps is not about the applications, but rather about the human handling of trading apps. Testimonials often point out that at least two weeks of demo account use is required to become familiar with mobile trading. In this category, too, eToro could look back on the best experiences and reviews of the trading app.

    newsfeed clearly presents

    Trading app advantages and disadvantages

    Let's now take another look at all the advantages and disadvantages of trading apps in the overview:

    Pros

    • Mobile trading possible from anywhere in the world
    • Access to control functions at any time
    • Fast possibility to react to market movements
    • Chart analysis possible on the move
    • Trading app can minimise the risk of loss because it is possible to react quickly

    Cons

    • Depends on the stability of the app and the internet connection.
    • Partially limited versions available as app
    • Even the smallest changes trigger emotions and spontaneous reactions

    Investing or day trading?

    For many it is the same thing. For many, investment and trading belong together and are hardly distinguished. Anyone who is thinking about making a profit on the financial market (we deliberately do not use the words investing or trading here) should definitely familiarise themselves with the terms and their meaning.

    Those who want to invest are usually looking for a way to invest their capital over the long term. The investor plans for a longer period of time of several months or years. In doing so, the investor selects shares, funds, cryptocurrencies or commodities and precious metals of which he believes that the price will move upwards in the future.
    Short-term price fluctuations are more interesting for trading. A trader exploits rising or falling markets for himself and wants to make short-term profits. The term day trading comes about because most traders do not hold their stocks overnight, but buy and sell on the same day and thus exploit price fluctuations for themselves.

    Automated Trading Apps

    Automated trading is becoming increasingly popular among private investors and is supported by more and more providers. What is behind it and what does automated trading actually mean? In automated trading, traders open trading positions with the help of software. It is not necessary to initiate or confirm the process. The software automatically scans the market movements and reacts to underlying values and parameters already entered in advance.


    Automated Trading Apps

    Example: We specify in advance: "Open a trading position X at a market value of Y and use 20% of our credit balance. Close the trading position at a profit of 10 %".

    Automated trading works in different ways. Often they are smaller programmes that are available as add-ons or plug-ins and can be used on the trading platforms.

    Attention: The respective trading platform must allow automated trading and must not exclude it. A look at the provider's general terms and conditions quickly provides clarity. If the provider excludes automated trading, he may retain all profits from the automated trades!

    Pros

    • Trading is unemotional, there are no head-over-heels decisions.
    • Time saving, as the effort is low
    • Human errors are excluded

    Cons

    • No individual adjustment of the trading strategy in case of market changes, the human factor is missing
    • Only conditionally suitable for beginners

    Conclusion and recommendation of the best trading app

    We looked at many trading apps during the test and found a test winner. In our view, eToro provides the best trading app, followed directly by Libertex and Capital.com. The eToro trading app has many functions, including a demo account that can be used all the time and the option of copy trading.

    The clarity and ease of use make the trading app interesting for beginners. The fees were also convincing in our test. Apart from a flat fee for withdrawals, the functions and trading in the app are completely free of charge. Since eToro is a licensed broker, the app also scores points in terms of security.

    Cryptoscene

    The best all-round app and trading & broker app test winner: eToro

    The provider eToro is the No. 1 primarily due to its clear app. In addition to shares, CFDs, ETFs and options, the platform's broad product portfolio also includes various digital currencies (for example, Bitcoin, Bitcoin Cash, Ethereum, Dash, Litecoin, Ada, Ethereum Classic, Stellar, Ripple, EOS, NEO as well as currency pairs such as Bitcoin against Euro and Ethereum against Euro).

    The special feature: eToro allows trading of both real assets and CFDs on the respective assets. Traders can therefore decide whether they want to buy physical shares, real cryptocurrencies or ETFs. Since eToro is subject to deposit protection by the CySEC (Cyprus Securities and Exchange Commission), deposits are protected up to an amount of 20,000 euros.


    The app is very clear and an excellent trading app for beginners.
    CFDs as well as real cryptos, shares, ETFs etc. can be traded at eToro.
    In addition, the platforms offer various levers, with the help of which high returns can be achieved even with small trading sums.
    Best trading app with demo account.
    Diverse assistance and the clear presentation of various trading signals, with which trades can be planned and analysed, can offer valuable support to beginners in particular.

    FAQ

    Why do you need trading apps?

    Trading apps allow users to react instantly to economic and financial news and trade on national and international financial markets from their smartphone.

    What trading apps are available?

    There are numerous trading app providers such as Capital.com, eToro, Moneta Markets, Libertex, Onvista, Comdirect. The best trading app in our test is the one from eToro.

    What should a good trading app for beginners be like?

    1. ease of use with a clear design, 2. up-to-date financial news with push notifications about events, 3. prices in real time.

    App Trading - How does mobile stock trading work?

    Step 1: Register, Step 2: Download a good app, Step 3: Mobile trading with the trading app: Deposit money and you can start trading Forex, shares and other assets.

    Was there a trading app on Lions Den?

    No

    libertex
    • 23 years of broker experience
    • Large number of tradable assets
    • Free download
    Buy cryptos with eToro
    • Best usability on Android and iOS
    • Easy trading even on the move
    • Best community functions
    •  such as social trading
    • Free download
    capital com
    • Over 3000 shares, commodities, currency pairs and more
    • Favourable, transparent pricing
    • Free download

    Hi, my name is Benzion. I have twelve years of experience in the Forex industry, and I have launched two successful crypto trading services. I have in-depth experience on several blockchain networks like Bitcoin, Etheruem, EOS, Cardano, Hyperledger, ICON, Komado, etc. I also have in-depth knowledge of blockchain techniques, including various consensus mechanisms, DLT, smart contracts, security, and privacy measures. Benzion Friedman