Best trading app New Zealand
Which is the best trading app in New Zealand? Do the best sites for trading also have the best apps? Do you want to trade stock, forex or CFDs?
We reviewed a number of apps, among others, apps from Saxo Bank, OctaFX, Alpari International, FXPro and HotForex that didn’t make the list below. Based on these reviews we found that the Plus500 app is the best trading app in New Zealand. And then FXCM and easyMarkets also got their apps in the top three trading apps in New Zealand, whereas eToro has the best trading app for beginners.
The wonderful news for you as a trader is that all the three trading apps in the list below are completely free. The 3 best trading apps in New Zealand are:
- Plus500 Trading App
- FXCM Trading App
- easyMarkets Trading App
These three mobile trading apps for UK are furthermore run by brokers that are correctly regulated and thus you can feel safe about your money. But as always with trading, never invest more than you can afford to lose. Below you can read our reviews of these top seven trading apps.
3. Plus500 Trading App.
User feedback of the Plus500 app is positive and that is also our impression when doing this review and thus it made top three in our list. The selection of assets users can trade through the app is amazing. CFDs on options, commodities, indices, cryptocurrencies, fiat currency pairs, shares and commodity ETFs. Visit Plus500
80.5% of retail CFD accounts lose money.
2. FXCM Trading App.
The app FXCM Trading Station Mobile is well liked by most traders because of excellent charting features, easy to use technical analysis with scores of preinstalled technical indicators as well as news streaming for fundamental analysis.
3. easyMarkets Trading App.
The easyMarkets mobile trading app has accrued mostly positive reviews from its users. The charts come with a wealth of technical indicators, such as Bollinger Bands, various MAs and oscillators. Reliability comes to mind as a very strong advantage of this trading app. Visit easyMarkets
What to look for in the best trading app
The most important feature of your mobile trading app would be the possibility of cross-platform trading, i.e. you should be able to enter a trade on your desktop and close the same trade in the app. Another important aspect is how simple the app is to use. The easier the better. Furthermore, the app needs to make a wide variety of assets available for trading, to fulfill all of your trading-related needs. All the reviewed trading apps on this page offers trading in both stocks, forex and CFDs, however, the number of assets provided for trading in each asset class will vary.
Of course, you also want the app to provide both live and demo accounts. This way, you’ll be able to test the app and to practice in it before you start using it for real money trading. In-app copy trading is also a feature you will likely appreciate. And lastly, on your part, you will need a highly reliable connection to avoid potentially very costly mistakes.
Plus500 Mobile App Review
Plus500’s mobile CFD trading app is a platform most users appreciate. The feedback concerning the features and the utility of the Android- and iOS versions is great.
Our first impressions of the app were similarly positive. Plus500’s mobile app:
- Downloads and installs quickly. It makes your phone its home within seconds.
- Its dashboard is simple and intuitive.
- It comes in a Demo version, allowing you to put it to the test.
- It delivers on all of its promises.
- Switching to real money is a matter of a click.
- The app does not misfire following periods of inactivity.
What Exactly Does the Plus500 Mobile App Promise?
The selection of assets users can trade trough the app is amazing. It supports options, commodities, indices, cryptocurrencies, fiat currency pairs, shares, and commodity ETFs. Special mini indices, such as the Crypto 10 index, are also parts of the package. Through such indices, users gain great exposure to various market segments.
All of the featured assets can be traded via CFDs. Leverage is available for those with a bigger appetite for risk.
As far as cryptocurrencies go, the app supports Bitcoin, Litecoin, Ethereum, and IOTA.
The app features an impressive number of technical indicators. Applying technical indicators is simple and quick. When you apply an indicator to a chart, it will stick around on all charts that you pull up afterward. You need to remove it to get rid of it.
Opening a Position Through the Plus500 Mobile App
The dashboard of the app features several popular assets. In the lower half of the screen, there is a chart, showcasing the price evolution of the selected asset. If you want to add technical indicators to the chart and draw trend lines, simply rotate your phone to landscape mode. The app allows you to select chart-type, add indicators, draw, and select time frames for analysis.
Whatever you do in landscape mode remains visible when you return to portrait mode. In the top right corner of the dashboard, there is a search icon. Click it, and seek out the asset of your choice.
Select it and do your technical/fundamental analysis on it. Once you are sure of the direction of your trade, hit the Buy or the Sell button. You can do this directly on the chart. You can also trade from the dashboard. Select your trading amount, double-check the required margin and set your Take Profit and Stop Loss. You can also set Trailing Stops. Hit Buy or Sell and you are done.
You can manage your Open and Closed positions through the menu in the top left corner of the dashboard.
Besides superb technical analysis tools, the Plus500 mobile app also provides a handy trading sentiment indicator. This indicator is visible when you are opening a position. This way, you can take it into account together with your TA, before committing to a trade.
The sentiment indicator tells you how other users trade the same asset. Plus500 covers TA through the superb selection of technical indicators it offers.
For your fundamental analysis needs, it offers a handy Economic Calendar. You can access this calendar through the main menu button as well.
At the bottom of the screen, the main menu gives you a handy overview of your account. This section contains information on your balance, equity, margin, and Profit/Loss situation. It updates in real-time.
The app lets you set trade alerts as well.
As mentioned, the user feedback concerning the Plus500 mobile app is positive. People appreciate the Demo account. Some have complained about the chart setup, which they deemed too convoluted.
As with any such solution, there are some complaints about the app. At least one user thinks the app is slow to update. Others have not been impressed by the capabilities of the platform.
The free withdrawal feature is a major hit with everyone, however. Start trading with the Plus500 mobile Trading App now.
The latest iteration of the Android version of the Plus500 mobile app has delivered a redesigned main trading screen. Users can now also resize the chart by dragging on its borders. These additions have not significantly impacted the user experience the app offers.
Some users have recently complained that trade execution speed have somewhat slowed down. It may take 2-3 seconds to execute a trade, which is indeed a little slow. During our tests, the app did not drag its feet during execution, so we cannot confirm that issue.
The user interface of the iOS version of the app has been improved as well. iPad users can now enjoy full-screen charting. Trailing stops are now graphically implemented on the charts.
FXCM Trading App
FXCM’s Trading Station Mobile is a great little trading app at first glance. It does what it is supposed to do, it is easy on the eyes, and it does not hiccup if your internet signal is strong.
It offers decent technical analysis, it goes into the fundamentals as well, and it supports a decent range of tradable assets.
Most of its users seem to appreciate it. The Android version on Google Play has racked up a user rating of 3.9 out of 5, which is not half bad.
That said, there are some complaints about the capabilities and reliability of the app.
- Some users say that the app crashes frequently for a variety of reasons. Sometimes it happens when the user switches time frames on the chart, other times it crashes when the internet signal is poor.
- The app logs you out every time your phone goes into rest mode. You then need to log back in.
- On some larger mobile screens, the app does not display well.
- Other users have found the dashboard very confusing.
- Others have found that the charts are very slow to load.
- Trading account activation has been a problem for some Trading Station Mobile users as well.
The Android version of the app is just 15 MB big. It requires at least Android 4.0 to run. The iOS version is 92.6 MB big. Users have rated the iOS version a 3.1 out of 5.
The Strengths of the FXCM Trading Station Mobile App
The app gives traders access to a wide range of tradable assets. The exact selection of available assets depends on one’s geographical location. Some assets are not available to users from certain jurisdictions.
The asset selection focus is on FX, regardless of location. The FX selection comprises 56 pairs.
- The charting features of the FXCM Trading Station Mobile are great. The charts look good and they support a massive selection of time frames.
- Technical analysis is easy through the app. It supports scores of preinstalled technical indicators, Fibonacci lines, and trend lines.
- The app features a section dedicated to fundamental analysis as well. It offers streaming news and analysis directly through the platform.
- Among the trading tools of the app is a handy Economic Calendar.
- FXCM Trading Station Mobile supports an impressive range of order types, among them basic and advanced orders.
How to Open a Position through the FXCM Mobile App?
Opening a position on the FXCM mobile platform is as simple as tapping an asset (currency pair), performing the technical analysis on the charts and picking one of the Buy, Sell, simple OCO, and Entry options.
On the order creation page, traders can select the amount they intend to trade, their order type, the time in force, as well as the take profit and the stop loss. Once the right settings are in effect, the trader hits the Submit button, thereby opening the order. The platform supports trailing stops.
Some users consider the dashboard of the mobile app confusing. We have found it quite straightforward.
The “home” screen displays several assets (in our case, FX pairs) showing the buy and sell prices as well as the spread.
From this screen, users can navigate to the Open Positions, Summary, Closed Positions, Orders, Research, and Actions pages by simply swiping from one screen to another. At the bottom of the page, there is a navigation bar that fulfills the same role.
Using the menu button on the top left, traders can tinker with the settings, make deposits, generate reports about their trading activity, and quit the application.
Every chart features an options button on its top left as well. Traders can add indicators to the chart through this button. They can also use other supported technical analysis tools, such as trend lines, Fibonacci retracement and expansion, and shapes. They can request information on the price history of the selected asset. Through this options menu, it is also possible to add chart shortcuts and save chart templates.
The app supports a surprisingly healthy range of technical indicators. Before adding an indicator, traders get the chance to tinker with its settings and variables. They can even set the color of the selected indicator.
The FXCM mobile app may misfire sometimes for some users. For us, it worked and handled its duties well.
Its charting is great. Its selection of tradable assets could be more generous, however. Its fundamental analysis section features squawk box-like news. Users can switch it over to calendar-type news as well.
The selection of technical indicators the app supports is rich. The app also allows for an outstanding level of control when adding the technical indicators to charts.
easyMarkets Mobile App Review
The easyMarkets mobile trading app looks good and it works as intended. The application has accrued mostly positive reviews from its users. Its Google Play score is currently 4.1 out of 5.
That said, there are some user complaints that do not seem to make a lot of sense.
- Several people have complained that the app is slow to load. We have not noticed such problems. From what we saw, the mobile platform launches just as quickly as any of its competitors.
- Others have complained about lag when opening positions. We have not experienced any lag in this regard either.
- Some do not like the visual appearance of the trading interface. While the graphics of the app are not particularly outstanding, it looks just as good as any other modern mobile trading app.
The dashboard does not include charts by default. You can, however, open the chart of an asset by clicking on it. We should also add that the chart looks great. Users can add a wide range of technical indicators to it in landscape- as well as portrait mode.
Upon its first launch, the app jumps into tutorial mode. It explains its functions and shows the user how to make the most of its capabilities.
The platform does not go into disarray after a period of inactivity. Its functions, including its charts, continue to work as intended.
What Does the EasyMarkets Mobile App Aim to Deliver?
- Decent tradable asset selection.
- A slew of interesting special features.
- Live Price notifications.
- Fixed spreads.
- Top-notch account management and support.
Asset selection takes center stage on the dashboard. All supported asset categories are displayed top center. In this regard, the app offers Forex, indices, shares, cryptos, commodities, and metals. A handy search tool makes it easy for traders to find their preferred assets.
Most trading through the app happens via CFDs.
How to Open a Position Through the EasyMarkets Mobile App?
Opening a position with easyMarkets starts with asset selection. Once you have located the asset that you want to trade, click on it. The app will give you details on the trade you are making. It lets you choose the expiry time and it shows you the potential payout in both directions.
The broker has recently added Japanese, Australian and Hong Kong-listed shares to its tradable asset selection.
As soon as you click the Buy or Sell button on this screen, your trade goes live. You can open the chart belonging to the selected asset, at the bottom of your trading screen. You can perform your technical analysis right there. Other shortcuts next to your chart button let you analyze the fundamentals as well.
You can monitor the status of your open positions through the Positions button at the bottom of your easyMarkets dashboard.
The My Account feature will give you a detailed picture of your account. It covers your balances, margins, and your current Profit/Loss situation.
Special Features of the easyMarkets Mobile App
The Demo version of the app is fully-featured. It offers all the functions of the real money version. The only difference is that you will not risk any real money through it.
As mentioned, once you click on the tradable asset of your choice, the app opens a trading screen. At the bottom of this screen, there are features that should fulfill all of your technical- and fundamental analysis needs.
- The chart comes with a wealth of technical indicators. You will find everything here from the Bollinger Bands to various MAs and oscillators. You can also change the chart type and the time frame. The chart supports 11 time frames, from one minute to one month.
- Next to the chart, there is a Trading Signals button. This section provides you with trading signals that are detailed and easy to apply.
- The News button gives you a peek into the fundamentals that drive the price.
- The Financial Calendar highlights future events likely to impact price evolution.
- You can re-launch the tutorial feature at any time if you need extra information.
- Sensitive to user feedback, the easymarkets team has recently implemented a feature which is truly exceptional, albeit not unique. This feature is called dealCancellation and it allows traders to undo their trades in exchange for a small fee. If you do not like a losing trade you just had, you can undo it in 1,3 or 6 hours. Through cancellation you can recover your lost funds, minus the mentioned dealCancellation fee. Be aware that you have to activate the dealCancellation feature and pick the timeframe before you launch your trade.
- The iOS version of the app supports dealCancellation as well. This version is now also available in German and Japanese.
As mentioned, most users are happy with what the easyMarkets mobile app offers them.
Some of the user complaints are related to withdrawal issues and the alleged mishandling of funds. Such issues have little to do with the app itself. Start trading with the easyMarkets Trading App now.
For further reading, you can see our reviews of the overall best trading platforms for the UK here.
Please share all the comments you might have on these trading apps in the comment field below. Which is the best trading app in New Zealand according to you? And do you feel that the best trading app for beginners would be the same app?