Trading has recently been widely discussed in all circles. The reason for this is that trading is rumored to be capable of producing profits in a relatively short period of time. There are numerous trading applications available now, but it is not uncommon for some of them to be unreliable.
So, in this article, you will learn about the best and most trusted trading apps for beginners, as well as how to identify them. Come on, read on for a more detailed explanation!
What exactly is trading?
According to Investopedia, trading is an economic concept that involves the buying and selling of goods and services. In the context of investment, trading refers to the exchange of investment objects, which can be stocks, currencies, or other types, for the same object under predetermined conditions.
How do I find the best safe trading app?
You can identify the following things to determine whether the trading application you are using is reliable and safe.
1. Ascertain that the trading application has permission.
The first step is to ensure that the best trading application you use has permission from relevant bodies such as the Commodity Futures Trading Commission or the Financial Services Authority. The presence of absolute and valid licensing indicates that the trading application has passed the test and has been recognized. When compared to fake applications, the security of this application is obviously much higher.
2. Examine user feedback.
As a beginner, you should investigate how testimonials from users who have used a trading application. Is there positive feedback, or is it not recommended to download? Of course, good testimonials and reviews must explain the fundamental considerations even if they do not recommend a trading application.
As a result, you must also determine which users are providing feedback, and it is best to select testimonials from experts on the YouTube platform, blogs, or other media.
3. Customer service that responds quickly
The best trading application will make it easier for its users to conduct transactions. Aside from trading-related articles, developers will usually offer customer service, either through chat or phone telemarketing. With customer service, application users can inquire about anything from the application's features to the objects used in the trading itself.
4. Learn about the company profile of the founder.
Before you invest your money and assets in a trading application, find out who the application developer is and what the company is. After confirming that this application has been registered and has permission from the party that legalizes it, you can double-check it by confirming again on the Ministry of Trade's website.
There is a special page on the Ministry of Trade's website that lists the names of any companies that already have permits. In fact, you can search for the complete address, contact phone number, and valid license number in the page's search field. Of course, with this extremely complex information, you can feel more confident about placing assets and conducting transactions on trusted trading platforms.
5. Learn about the app's privacy policies.
When you first enter and register in the application, you will be asked to enter personal information and agree to the privacy policies. Before agreeing to it, read what the contents of the "contract" have to do with your personal data.
Make certain that the trading application company you use will store, maintain, and not share this sensitive data for trading or other purposes. After reviewing the applicable privacy policies, you can decide whether or not to proceed with the registration process.
5 of the most reliable trading applications
The large number of trading application platforms available often leaves you perplexed as to which application is best for you to use. Check out our recommendations for the best and most trusted applications for beginners, complete with the following benefits and drawbacks.
IPOT is an acronym for Indo Premier Online Technology, also known as IndoPremier, which has been downloaded by over a million people. It's no surprise that this application includes features that make it easier for traders to transact.
The IPOT application itself offers numerous benefits, including a full robo trading system, reports of gains and losses since joining, and stock development charts. Furthermore, the IPOT application is accessible not only through mobile phones but also through desktop computers.
Meanwhile, in terms of flaws, IPOT has several, such as a complex display, which means that beginners will need more time to learn this single trading application.
The Stockbit trading app is one of the best and most trustworthy trading apps for beginners. The reason for this is that Stockbit has a fairly user-friendly interface, a forum for discussing stock trading issues, and a price prediction tool.
Stockbit also has a virtual trading feature in the form of a virtual demo of IDR 100 million that you can use to practice. You can begin to understand the flow and safe way of trading without feeling a loss by experimenting with virtual savings.
Stockbit's transaction fees are also low because each purchase transaction is charged 0.10% and each sale transaction is charged 0.20%. Unfortunately, Stockbit's disadvantage is that some of its best features are only available on a premium or paid basis.
At the end of this year, Ajaib was widely recognized as the best and most trusted trading application. This trading application, which has a distinctive genie lamp logo and a blue background, has a simple appearance and is easy to use for beginners.
Other than stocks, the Magic application offers mutual funds and time deposits as investment options. The registration process for new users is also very simple. This application will be easier to use if it has a simple user interface.
Ajaib also has a Big Dictionary of Investment Language for those who are just starting out in trading, so you can recognize new terms and understand their applications. The Magic application also has detailed issuer information and real-time graphic data.
However, due to high user traffic, this application still experiences lag and long loading times. However, the development team will continue to improve the application's quality.
4. FXTime FXTM
According to the name, ForexTime FXTM is the best trading application for forex trading activities. The ForexTime application has been used in 180 countries since the launch of the official website. Of course, there are many users who are pleased with and recommend this particular forex trading application.
For those of you who want to try forex trading but lack experience, the ForexTime application includes a demo mode that you can use. You can use this demo to learn about and practice forex trading without fear of losing money.
There's no need to be concerned if you don't understand the language used in the application because ForexTime is available in several languages, including Indonesian. Furthermore, the ForexTime application can be downloaded via mobile devices or computers running Windows or Mac OS.
When it comes to the trading system, the withdrawal process at ForexTime is also fairly quick and simple. The available leverage is quite diverse and flexible, and the leverage value can be higher even for a professional trader.
In terms of drawbacks, the ForexTime app continues to sell a limited number of products. In terms of customer service, this company is only open during the week, from Monday to Friday.
5. TD Ameritrade Inc.
This particular trading application is not well-known. TD Ameritrade is one of the best trading apps for beginners in the United States. TD Ameritrade offers a wide range of instruments that are not limited to forex trading.
This application development company also provides quite comprehensive information for beginners, so they can read guides and tips to avoid losing too much money.
Unfortunately, as a global application, TD Ameritrade has the disadvantage of high transaction fees and the lack of transaction options using a credit card, debit card, or e-wallet as a destination for transferring money.
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