Best mobile trading platform in Pakistan
Online investing is becoming increasingly popular in today's world. It is a great way of earning extra income as well as a mainstream activity. If you spend enough time studying the laws of trading, taking an interest in the state of affairs on the stock market, following the news in the economic world and learning to analyse what is happening, while practising with a free demo account on an online trading platform, you can get very good personal results in trading and even make trading your main activity.
Why is online investing so popular these days? First and foremost, it is because it is technically accessible to almost everyone. If you have access to the internet, then that means you also have access to stock market trading.
What's more, online trading platforms are also available in a mobile version in the form of online trading apps. Thanks to continuous improvements and new technological developments, the mobile version of the trading platform is now as good as its full-fledged, desktop version. You will have the possibility to choose the same assets for trading, apply the same analysis tools and use the usual tools for trading, depending on the strategy you choose. If you're just getting started in the exciting world of investing, joining the mobile version is easy.
How to choose the best mobile app for trading in Pakistan? From the experience of experienced traders, when choosing the best mobile app for your trading platform, we advise you to pay attention to the following points:
- how to install the trading app on your mobile device - supported operating system, required amount of free space on your device to be able to install the app, compatibility with your current phone version;
- whether it is possible to start with the free demo version to allow preliminary training;
- whether there are any tips on the platform, like pop-ups, as well as a theoretical section describing the trading process, analysis methods and so on;
- how to deposit and withdraw and what the limits are for these operations;
- which financial instruments will be available to you from the mobile application;
- whether the mobile version of the trading software allows you to apply the same analysis tools as the full version;
- whether the mobile version of the trading platform provides access to the same trading tools as its desktop version;
- what are the fees for using the application or making transactions;
- whether it is possible to customize the mobile platform according to personal preferences;
- whether there is any feedback.
Let's take a closer look at why the above points are important when choosing the best mobile trading app in Pakistan.
Installing the application. Registration
To install a mobile trading application, visit the official website of your chosen broker and look for a section describing the available versions of the working trading software. Here you will find a link to download the mobile app - follow this link and the system will redirect you to the mobile platform installation page. Here you can view the technical parameters of the downloaded program, such as the size of the space on your mobile device in megabytes, compatibility with your device, as well as the available settings for the application's interface language. Your phone must meet all these requirements in order to download the application correctly.
Click "install" and wait for the application to fully download. Once the trading platform shortcut appears on your mobile device, open the app.
Depending on whether you are a new user or not, tap the "register" or "authorise" button.
In the first case, the system will ask you to enter a minimum set of data, such as your username, your work email and come up with a complex password. Once you have entered these details and pressed the "register" button, the system will send you an automatic link to the email provided and you will have to click on this link to confirm your registration.
In the second case, if you have previously used the platform in the desktop version, press the "login" button and simply enter your username and password. Synchronization of all your data will be done automatically and you will immediately see all your transactions and deals, trading history and so on.
Important! When downloading the app, use only links from official sources (official broker's website or the official playmarket on your device). Choose platforms with transparent and clear registration systems.
Trade learning opportunities provided by the mobile trading platform
Reliable brokerage companies offer a demo version of a real account on their platforms for trading. A demo account helps to learn the intricacies of online trading without risking your own capital. A demo account fully replicates a real account, meaning that all of the quotes on it are real, all of the analysis tools work correctly, and all of the trading tools are available. The only difference is the dummy funds that are used in this case. The system will automatically credit your demo account with a certain amount of fictitious test money, which you will be able to operate with for training purposes, but which you will not be able to withdraw.
By using a demo account you will be able to develop your own trading strategy and learn the ins and outs of the platform.
Demo accounts are now also available in mobile applications, which is very convenient and practical.
In addition to the demo account, almost all of the modern platforms offer a training section with video tutorials. Your mobile phone is always with you, so you can watch the lessons on investing at your leisure. Video lessons on the platforms are short, but informative and easy to understand, even if you don't have any trading experience. All the information in the lessons is accompanied by live illustrative examples. Be sure to take advantage of the free platform lessons.
The lessons, coupled with practice trading on a demo account, will help you get up to speed quickly.
When choosing a mobile trading application, give preference to those that offer access to a demo account as well as video tutorials.
Easy deposits and withdrawals. Low limits
Be sure to check the deposit and withdrawal options for your real account, as well as the limits that apply to the platform. Choose those applications that offer known payment systems for deposit and withdrawal transactions and limits that are personally available to you. As a rule, you can make a deposit in a few clicks by clicking on the "deposit" button and selecting one of the deposit options offered by the system. Most commonly, traders use a bank card, but online payment systems are also popular. Making a deposit only takes a few minutes.
You can withdraw money from your account using the same system or a bank card.
Ease of payment transactions is an important consideration when choosing a trading app.
A wide range of financial markets
You should check the "assets" section of the platform to ensure that the broker provides access to trade the financial instruments that interest you. Thanks to modern technology, traders now have full access to trade all the assets offered by the broker from any version of the trading platform.
Choose one of the popular financial instruments:
- Forex Currency Trading. Hyperdynamic and the most volatile online trading market, it is most popular with day traders as well as those who prefer medium term trading.
- Stock market. Speculate with CFDs on shares of leading companies and industry giants without actually owning them.
- Commodities. Trade CFDs in hard or soft commodities such as gold, silver, oil and grains.
- ETF funds. Diversify your trading with CFDs on exchange traded funds, where several assets are bundled into one basket.
- Indices. Choose from a list of broadly traded CFDs on indices that represent a specific market sector or national economy.
- Crypto-currency trading.
- Digital Options. Trading these options allows you to speculate not only on the direction of the price, but also on the magnitude of its change.
- Binary Options. Trading tool that gives guaranteed profits for correctly predicting the price direction of an asset within a selected time frame.
Availability of tools for analysis
Get the most out of fundamental and technical analysis with a built-in news feed and economic calendars.
Most platforms allow you to view news both in terms of a specific asset/company and a general news feed. Quality applications with flexible settings will allow you to display news updates directly on your trading room screen, so you won't miss important stock market events. Real-time updates, links only to trusted and reliable sources of information - choose only those mobile trading apps that offer convenient and accessible tools for market analysis.
Also pay attention to the availability of indicators for technical analysis. With the help of indicators you can easily track current market trends.
Trading tools available in the mobile version
Whereas the original versions of mobile trading offers had fairly limited functionality, modern versions give you full access to all the trading tools you need.
Most often, traders use stop orders, such as stop loss and take profit. The idea behind these orders is to set extreme trade limits. If the price of the asset reaches the limit set, your trade will be automatically closed.
Stop orders are a great feature of trading platforms. Traders do not need to monitor the price chart or worry about technical problems and network glitches. If a Take Profit (profit limit) or Stop Loss (loss limit) has been placed by the trader in advance, the trade is safe.
The mobile version also provides access to the multiplier function, which can be used to activate the leverage action.
Flexible platform settings
The "settings" section of most mobile apps is a joy to use, as is the ability to customise the platform to your liking and convenience. You can customise the screen display by selecting one of the suggested themes, change the zoom of the interface, and choose what data will be displayed on the chart (best trades per expiry, asset price, setting of price change alerts).
Under "trading" select the settings for opening and closing positions - with or without confirmation, as you prefer.
There is also an option to set up keyboard shortcuts, notifications on the platform and to email.
In the privacy settings you will be able to open or close personal information from public display.
The mobile version of the programme should necessarily provide access to feedback. If you have any operational difficulties or questions, you should always be able to contact customer support. On reliable platforms, customer support is available 24/7.
Some applications also offer an online chat room where you can exchange experiences with other traders.
Based on the above tips on choosing the best mobile trading platform in Pakistan, choose your option and test it out with a demo account today!