If you decide to use an online app to make your investment decisions, you should only download and install those which are absolutely trusted trading apps. You should not pay any sort of subscription fee or purchase any additional pro features whatsoever. Many times, when you download and install an app on your mobile device, you will be prompted to enter your name and email address. It’s easy to enter your real name and email address on an online form and accidentally end up on a mailing list.
You’ll be inundated with unsolicited emails from time to time with information about new products and offers. This is annoying and can significantly slow down your mobile device.
Another thing to watch out for is scammy websites and apps. Some of these sites and apps are created by people who pretend to be helpful but, in fact, they are simply looking for your credit card details. They then get away with creating an entire website or an entire app just for the purpose of stealing your money.
When searching for a legit and trusted online stock trading app, here are some things you should look for:
Look for an app with a stellar reputation. You should only download and install an app that has a four or five-star rating from other users. The reason this is important is that it gives you an indication of how well the developers have thought through and implemented the app. It also gives you an idea of what to expect from the app. Apps with a higher number of stars are better than those with a lower number of stars. Look for an app that has lots of downloads. This one makes sense.
The more users an app has the more likely it is to be legitimate. Again, apps with more downloads are better than those with fewer downloads. Look for an app that has lots of positive reviews. Again, the more positive reviews the better. What this tells you is that many of the users really like the app. Look for an app that offers educational content.
With that being said, if the app offers nothing but basic information, it’s probably not a good app. However, if the app offers additional resources, it’s much more likely to be a legitimate and trustworthy app. Look for an app with an active and vibrant community. This is another indication of a healthy app. Apps with a vibrant and active user base are usually better than those with a smaller and less-active user base.
One of the best ways to identify a scammy website or a scammy app is to simply observe how many users it has. If there are very few users or no users at all, then it’s probably a website created by a person who is trying to scam you and grab your credit card details. All in all, the above points should give you a pretty good idea as to what to look for in legit and trusted trading apps.