When looking for the best trading apps in Africa, these are a few things which have to be taken into account. Firstly, how easy the app is to use. This is a feature that is very important especially if you are a new trader. Secondly, it is good to be able to trade on an app which does not cost you more than you can afford. It is preferable to look for ones which do not cost you anything. Fortunately, in Africa, there are quite a few of those. Thirdly, it is advisable to make sure that the app you are thinking of using, is regulated by all the necessary financial authorities. Some apps even offer you a welcome bonus, this is always a good thing as well.
Some More Features to Look For
Apps should offer a trader the option of trading across different platforms. What this means is that if you were working at home on your desktop and then you have to leave home for whatever reason, it would be good to know that you would be able to continue with that trade on your mobile device. Copy trading is another feature that you should make sure you trading app offers. Essentially, what this means is that as a trader you can look at another trader’s trade and if you wish to mimic it, then it would be good that your app allows that action. After all of these boxes have been ticked and you know that you have chosen the app which suits your trading requirements perfectly, then you have to ensure that your connection reliable, to avoid the possibility of losing any of your investment because the internet connection bugged out at a crucial point during trading.
Features which make Certain Apps Better than Others
One of the more recent innovative tools that have been added to the best trading app in South Africa, is the risk management one. What this entails is that traders can for a nominal fee, which is paid up-front, protect his/her trade during a specified period. If the trader loses anything during this time, then the protection aspect of the app will reimburse the trader. This feature can be used during any forex paired trades including silver and gold. This amazing feature is sure to attract many traders. This app is available on both Android and iOS devices. The most frequently used one is the Android app, with over 5000,000 users who have already downloaded the app. Except for a few hiccups; the reviews for this app have been very encouraging.
Another trading app offers traders an upgrade on the Android version as well as an iOS version as well. As always the Android one seems to be the preferred choice, one of the reasons for this is that the installation process is quicker and the home screen offers a more user-friendly feel to it. This is however not the upgraded version of the Android app, it’s the older one of the two. The new one, although has 500,000 users or people who have downloaded it, is still not as popular as its predecessor. The iOS version is not as popular, because the registration process takes much longer and it even has a test which traders are expected to take. Added to this if the trader does not pass this test, and then he/she will not be allowed to trade on the platform. Both these applications offer live and demo accounts. This is a good feature because it affords newbies to do a few test runs, to get to understand the process, before entering the real market. These apps are straight forward and very easy to use, they also provide over 250 assets and are more focused on cryptocurrencies and FedEx pairs.
Other Features which make Good Apps
Other features which some of the best apps have to offer are being able to support exotic, minor as well as major currencies. This means that traders can trade on any of the platforms from forex to cryptocurrencies, with ease and offer over 2,000 assets. Some game consoles also use these apps and because of the interface that they use, traders experience faster and more efficient execution of trades. Even the charting and trading indicators resolution quality is superb. Another plus is that the connectivity is constant, affording the trader to be online and active at all times. This means that there is no chance of losing out on any of the trades because of downtime.
The African trading app scene measures up to any of the international ones. This is because the software and technology that goes into these apps are of world-standards and makes it possible for people in Africa to trade in any of the international markets, in the relevant countries currency and be paid out in that currency as well. This means that when the earnings are converted to the rand, the traders earn a lot more.