There was a time when only rich people and individuals capable of taking financial risks used to engage in online trading. However, today, with so much information available online about stocks, funds, and shares, individuals with different professional and financial backgrounds participate in online trading. The popularity of online trading has increased even further following the advent of cryptocurrencies like Bitcoin.

The best thing about online trading is that it can be done from anywhere as long as you have access to an Internet connection. Additionally, there are multiple apps that can boost your market intelligence and trading profits by making the process of investing in the right stock/fund/share easier for you. The section below would introduce you to five mobile apps designed to help day traders to trade more safely and earn bigger profits.

1. Use a VPN Application

Day traders need to remain active online during the daytime, i.e., till the stock market is open. It’s mandatory for them to stick to this schedule if they want to make the most of the changing prices of stocks. So, they often need to connect to the Internet using public Wi-Fi hotspots, which are typically unencrypted.

Unencrypted internet connections leave these day traders at high risk of making their personal information accessible to malicious third parties. Additionally, hackers and cybercriminals get the opportunity to spy on their online activities and monitor how they are performing as traders. If this continues to happen, the day traders can become victims of cybercrime and even end up losing money.

Having a VPN app on your mobile phone can be the most comprehensive solution to this problem. If you connect to the Internet with a VPN, all your online activities will take place through an encrypted tunnel. This will prevent all third parties from seeing your trading details and online traffic.

2. Stock Ratings

If you want to succeed as a day trader, you must know how to choose stocks wisely. Stocks Ratings will help you to do just that, even as a beginner. This free app is meant only for iOS users (you’ll need an iPad or iPhone for using it). You can use it to identify the high-performing stocks and make your portfolio even stronger. The app will also help you to determine whether you should buy, hold, or sell stocks.

Stock Ratings will offer you a summary of analyst downgrades and upgrades every day. You’ll receive these figures for stocks listed on New York Stock Exchange (NYSE), Toronto Stock Exchange (TSE), London Stock exchange (LSE), and more.

3. MSN Money

MSN Money can be used both by iOS and Android users. This app by Microsoft Corporations is known for its clean interface, a feature that makes switching between the stocks and news sections absolutely seamless for the users. It will take just a few clicks for you to customize the stock watch list.

Indeed, many users use MSN Money to keep track of their investments. However, the primary focus of this app is the news section. If you want to read some truly informative stock market and finance-related stories, make sure you have this application downloaded on your mobile phone. The app collects its stories from reliable sources such as CNBC, Fox Business, Reuters, WSJ, Bloomberg, MarketWatch, Forbes, etc.

Another highlight of the app is the collection of useful tools it features. These include a currency converter, mortgage calculator, retirement planner, wealth estimator, and tip calculator.

4. Stocks Live

You will get this app only on iPad and iPhone. The app comes with a series of features that make tracking trades and investments simpler than ever before. It will also allow you to keep a close eye on the market by providing you with real-time updates and quotes. The features that are loved most by existing users of the app are:

Search watchlist (indexes, ETFs, and stocks) and track it,
Newsfeed,
Support for multiple currencies,
View chart along with multiple customization options and more.

5. TraderTv.live

This app is much different from all the other applications mentioned on this page. It is a streaming service and goes live at 9 AM and remains so till 12 PM. With this application on your phone, you’ll be able to watch shows featuring professional traders. You’ll get to see those traders in action during the trading hours and make your trading decisions taking a cue from those actions.

Watching TraderTv.live will allow you to follow detailed analysis about various trading strategies and learn to implement them effectively. Additionally, you will also get to watch interviews of some of the industry’s biggest names, including big brokers.

Conclusion

To become a successful day trader, you must first learn to observe. Additionally, you must also ensure that your finances are safe as you try your luck in the market. The applications mentioned above will help you to do both successfully.

By S N Chatterjee

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

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