An options trading app is a software application that provides users with access to the options markets. These apps allow traders to place orders and manage their portfolios from their mobile devices. There are several different options trading apps available, each with its own set of features and benefits. Here are five of the best options trading apps for Australian traders.
Plus500
Plus500 is a popular CFD trading platform that offers a mobile app for options trading. You can use it on iOS and Android devices, and it provides users with access to live prices, charts, and news. Plus500 also offers a demo account so that traders can practice their skills before investing real money. Users will need to pay a commission on their trades, but no minimum deposit is required to open an account.
IQ Option
IQ Option is another popular CFD trading platform that offers a mobile app for options trading. You can use it on iOS and Android devices, and it provides users with access to live prices, charts, and news. IQ Option also offers a demo account so that traders can practice their skills before investing real money. Users can open an account and start trading for as little as $10.
eToro
eToro is a social trading platform that offers a mobile app for options trading. You can use it on iOS and Android devices, and it provides users with access to live prices, charts, and news. eToro also allows users to copy the trades of other successful traders. This feature can be helpful for those who are new to options trading and want to learn from more experienced traders. eToro does not charge commission on trades, but a withdrawal fee is charged.
BinaryTilt
BinaryTilt is a binary options broker with a mobile app for options trading. You can use it on iOS and Android devices, and it provides users with access to live prices, charts, and news. BinaryTilt also offers a demo account so that traders can practice their skills before investing real money. The minimum deposit you need to open an account is $250.
HighLow
HighLow is a binary options broker that offers a mobile app for options trading as well. You can use it on iOS and Android devices, and it provides users with access to live prices, charts, and news. HighLow also offers a demo account so that traders can practice their skills before investing real money. The minimum deposit you need to open an account is $50.
What are the advantages of using an options trading app in Australia?
Access to markets
The most significant advantage of using an options trading app is that it gives traders access to the markets. Therefore, they can place orders and manage their portfolios from anywhere.
Charts and news
Another advantage of using an options trading app is that it provides users access to charts and news. It is vital because it helps traders stay up-to-date on market conditions.
Demo account
Many options trading apps offer demo accounts, which is a significant advantage because it allows traders to perfect their skills before investing real money. Another advantage of a demo account is that it allows traders to test the app and its features before committing to a real account.
Low minimum deposit
Some options trading apps have low minimum deposits, which is an advantage because it allows traders to start trading with less capital. It can be beneficial for those new to options trading and who want to learn without risking money.
What should you consider before signing up on an app?
Commission and fees
One of the things to consider before signing up on an app is the commission and fees. Make sure to check what the commission is for each trade and the withdrawal fee.
App features
Before signing up for an app, check out its features. Some apps offer more features than others. Make sure that the app has the features that you need.
Customer support
Before signing up on an app, check out its customer support. It is crucial if you need to get help when you have any problems with the app.
If you are not interested in any of the brokers listed above, here’s a bonus: Saxo Bank. Headquartered in Copenhagen, Saxo is one of the leading international brokers and offers Australian traders a chance to trade stocks, options, futures, currencies, and more. Click here to trade options with Saxo.
