There’s no doubt that the financial marketplace has evolved considerably in recent times, and this is borne out by the incredible rise of cryptocurrencies. In fact, the daily global trading volume for digital currencies passed $50 billion at the end of 2017, drawing it close to the average turnover recorded by the New York Stock Exchange.
The increased diversity of the global marketplace is great news for investors, who can leverage this to build lucrative portfolios that deliver returns over a sustained period of time.
This is particularly true for novice investors, who can utilize online and mobile technology to access their chosen markets while executing effective, real-time decisions. In the article below, we’ll consider the mobile tools that can assist you to trade on the stock market and have a positive impact on every stage of your investment journey.
The eToro Social Trading App
When it comes to executing your first corporeal trades on the financial market, you’ll need to identify an app and trading platform that suits your investment philosophy and outlook. However, it’s important that novice traders continue to learn as they trade, as otherwise they run the risk of incurring initial losses.
In this respect, the innovative eToro social investment platform is a must for traders. This app, which is now available on Android and iOS, offers access to a huge range of financial markets and enables individuals to execute live orders.
More importantly, it connects traders from across the globe as part of a progressive network, each of whom can interact freely with one another and share data, insight and investment strategies.
Best Brokers: Stock Simulator
Venturing into the financial marketplace can be a daunting prospect, and one that may deter aspiring investors from taking the initial plunge.
This is where the Best Brokers: Stock Simulator app can come in handy, as this innovative mobile game enables you to experience the global marketplace in a fun, interactive and entirely risk-free environment.
Not only is this application non-threatening and extremely insightful, but it also offers access to an impressive range of stock markets and alternative asset classes.
The game even enables players to access the burgeoning cryptocurrency market, replicating real-time conditions and relevant trends.
TradeHero
As you build your knowledge base and level of practical experience, you may well decide that you require a more detailed and comprehensive simulator. Similarly, you may also want to hone your skills through an application that introduces an element of competition, as this can help to sharpen your instincts and inspire more effective decision making.
TradeHero is ideally placed to help you achieve these objectives, as it utilises real world data to provide a live simulation of the financial marketplace. Once registered, you can trial a host of trading strategies without any sense of risk of trepidation, as you use fake currencies to execute individual orders.
In terms of competition, users will be afforded $100,000 to build fantasy portfolios and compete directly against one another for top place on the global leaderboard. Those who come out on top will also receive a real cash prize, which represents the culmination of an effective and rewarding learning experience.
This may prove crucial for inexperienced traders, who can copy successful trades and strategies to achieve short-term success, while using these as a foundation for future growth and diversification.
