Whether you trade forex, stocks, crypto, or other financial markets, mobile trading offers the flexibility of analyzing and executing trades from a mobile device. Modern mobile apps are optimized for speed, convenience, smaller screens, and responsiveness, but that is not all. Find out the features and qualities you should look out for to get the best trading platform Android app in Australia.
What Is Mobile Trading?
Brokers offer proprietary trading apps that allow their customers to analyze and trade financial markets. Most modern brokers also offer third-party integration with platforms like TradingView and the MetaTrader 4 and MetaTrader 5 apps. Using an online trading platform in Australia via the mobile app allows traders to explore markets using smartphones, tablets, and iPads. Mobile trading is quicker and easier than desktop computer trading and is available on Android and iOS.
Advantages of Mobile Trading
- On-the-go trading
- Real-time access to markets, data, and news
- Enhanced portfolio management from one mobile app
- Comfortable and flexible way to analyze markets
- Additional features include one-click trading, price alerts, historical charts, and data.
Choosing the best trading broker is the first step to experiencing the advantages of mobile trading. Here are eight key factors to consider when selecting a mobile trading platform.
Regulatory Compliance
Broker license and registration are the first things to check when considering a broker or trading platform. Check that they are licensed by the Australian Securities and Investments Commission (ASIC) and operate within the regulations. The commission has a list of registered brokers where you can confirm the status of your broker.
Trading with a regulated platform has several advantages, including deposit insurance and security, compliance with anti-money laundering (AML) regulations, safety, reliability, and transparency. The ASIC requires strict guidelines that brokers must adhere to; these translate to maximum protection for your funds and personal data.
Trading Assets/Instruments
The asset class you want to trade is also essential before choosing a broker. Brokers offer everyday products such as stocks, forex, cryptocurrencies, commodities, CFDs on currencies, and ETFs. It is best to choose a broker that provides access to all financial markets available in Australia and excellent trading conditions. Consider a broker with low spreads and competitive leverage/margins. The social trading feature, where necessary, can help you if you want to spend less time trading, so consider brokers offering social trading and trading communities.
Customer Support
Excellent customer support could make a difference if you encounter an issue when trading. Check that the mobile app has a customer support option with multiple channels (email, live chat, phone, etc.) and that it is available during trading hours. Customer support should also be available in various languages.
User-Focused Design and Mobile Compatibility
Mobile platforms are designed to enhance comfort, flexibility, and access to the internet and online platforms. Choose a mobile trading broker or platform with a well-designed, modern, seamless app. The apps should have a user-first design with intuitive navigation, customizable layouts and charts, and easy access to quick buttons, charts, market news, alerts, etc.
They should also offer regular updates to improve security, performance, and user experience. Most apps have a minimum Android OS requirement, typically Android 6.0 Marshmallow. There are also minimum phone specs, 512 MB or higher RAM, and 50 MB of free hard drive space. Ensure your device meets these requirements when choosing a mobile trading app.
Fees and Commission
Most brokers charge trading fees, either separately or as spreads. Choose a broker with low fees and commissions, no hidden charges, dormant/inactive account protection, and zero deposit/withdrawal fees. Transparency is critical here, as some brokers can cleverly disguise unexpected costs. Find a broker that is upfront with the terms of service, their obligations, and your responsibilities.
The speed of banking actions is also essential; your chosen broker should process deposits and withdrawals quickly. Your mobile platform should also have flexible cashier options that allow deposits and withdrawals through e-wallets, crypto, and online banking. Multiple banking options ensure more control over your funds and how you send or receive them.
Trading Tools and Features
Advanced charting, trading tools, and features like one-click trading are necessary for effective trading. Mobile trading platforms should have advanced indicators, different charts, and even multiple windows for technical analysis where required.
Choose a platform with tools for market analysis, risk management, and access to real-time data, live news, and educational resources. Evaluate the features to ensure they are up to modern standards to sharpen your trading edge.
Safety and Security
Online apps are natural targets for malicious users, so cybersecurity has become more critical in the last decade. Choose a secure platform with modern encryption protocols, digital signatures, cryptographic hash, and other security measures to ensure the platform’s integrity and confidentiality. Your preferred broker should also offer two-factor authentication (2FA) and harness AI for detecting issues that impact stability and security. The ideal broker also provides negative account protection for enhanced trader safety.
Check Reviews and Comparisons
When choosing a trading platform, check online forums and review websites with honest reviews from real clients. You can get much information about the overall rating, performance, and advantages of using an app, but form your opinion based on personal experience.
Trading Online in Australia
Remember to download mobile apps from trusted platforms like the broker website or the Android Play Store. Register with a broker, verify your identity, download the mobile trading platform via the broker’s website, and complete the integration to explore trading on your smartphone — you can enjoy mobile trading from anywhere in Australia with an internet connection and access to financial markets.
