Since New Year marks a new beginning, we can therefore say that the onset of 2021 is a good moment to start trading CFDs. Why should we do that? That's because CFDs offer advantages that are great for people like us who just wish to stay at home and earn money amidst a world health crisis. What are these advantages? Whether you are an experienced trader or not, CFDs are financial instruments that are easy to learn because of the many readable and downloadable online resources that will help you familiarize and master this financial instrument.
With CFDs flexibility, they are also good instruments for hedging and portfolio diversification. Since CFDs are transacted in the online market, you do not need to physically visit a brokerage market to seek brokerage services. All you have to do is to open an online account and start trading or talking to an online broker for advice: the Dow Jones today offers great opportunities that you don’t want to miss. For non techie individuals, trading with this instrument can be easy managed with the help of the following investment applications on the list.
1.Sofi
The full name of this financial application is SoFi Invest Money & Buy Crypto. This application is perfect for newbie traders because it offers events where member traders can share and learn from each other. In terms of cost, starting an account with Sofi is cost efficient because it only requires a minimum of $1 deposit and they require no fees on online stock or ETF trades. They also support self-directed and managed portfolios, plus retirement and cryptocurrency accounts. It's downfall however is the absence of advanced investment tools and the limited availability of assets.
2. Acorns: Invest Spare Change
This investment app is way better than the first app on our list. Aside from the disadvantage of paying $1 to $3 for monthly subscription, we can no longer see any other downfall. Acorns is an app that is suitable for individuals who wish to be involved in automated investing. The company that runs the app takes pride in the easy, automated micro-investing accounts that they offer. Their promos on shopping and earning in collaboration with their card partners are also enticing for shopaholic traders. The app offers Robo-advisor brokerage, retirement, and checking accounts to their clients.
3. Fidelity Investments
With an app that has the ability to be used on mobile phones and can be used on almost all type of accounts, Fidelity is also a promising app to be downloaded when trading. Just like other apps, Fidelity provides fractional share investing to its members with no minimum deposit required and minimal or flat rate fees in some of their accounts. Since it supports investment accounts such as Stocks, ETFs, mutual funds, fractional share investing, and others, fidelity is almost perfect except for the $12.95 fee for phone trades.
4. TD Ameritrade Mobile and thinkorswim
With vast coverage of accounts, this is perhaps a great app for trading CFDs because it supports accounts including stocks, options, ETFs, mutual funds, bonds, and even CFDs. Its flexibility also covers features that are designed for newbie and expert traders. Another good news and a good reason for experienced traders to get this app is the fact that the company does not let you pay additional fees for advanced trading platforms. The disadvantage however is the possibility that Accounts may become Schwab accounts after acquisition.
Conclusion:
You've just had a glance of 4 of the famous apps which we think could help you on this year's trading journey. Since downloading these apps may cost you money, we suggest that you thoroughly plan for your trade and download the apps that you need the most.Remember to base your choices on your financial capability and goals in order to find the most suitable app for you.
