Mobile apps are a modern solution for trading in financial markets. They can be used to work at any place and any device: a smartphone, tablet, etc. However, it is important to choose the best app in order to ensure that your trading successful. Analysts at the Traders Union prepared an article telling readers about the Best Mobile App for Penny Stock 2024. We compared the apps and gave them our scores.
The minimum deposit in RoboForex is $10. Leverage up to 1:2000. Traders choose RoboForex for reliability, favorable trading conditions, minimum spreads, and commission fees. The company is recommended for beginner traders and experienced investors.
Exness broker is a trusted broker partner that is compliant with all relevant terms. Exness complies with all payment obligations and pays money earned.
TeleTrade is a broker for traders who value the variety of trading instruments and trade using their PC or a mobile app. The company is a good broker both for beginners and experienced traders.
AMarkets is a broker that is more suitable for professional trading. Everything here is designed to accommodate trading with EAs and that is the broker’s strength. The weakness of the broker is that it won’t be easy for traders without experience to work here.
Binary is the right broker for those who appreciate a variety of financial instruments. Due to the low minimum deposit, the company is suitable for novice traders who do not want to risk large amounts of money.
1
Best Mobile App for Penny Stock 2024 - RoboForex
RoboForex is a well-established brokerage company offering a broad spectrum of trading opportunities for active traders and investors alike. With an impressive selection of over 12,000 financial instruments - including currency pairs, CFDs on stocks, indices, metals, energies, and futures - RoboForex provides a versatile trading environment.
The broker boasts competitive trading conditions: tight spreads starting from 0 pips, high leverage up to 1:2000, and fast execution speeds. The broker also offers the CopyFx investment program, which allows traders to copy the strategies of successful investors and earn passive income. Additional perks include instant fund withdrawals and some of the industry’s highest affiliate payments (up to 84%).
RoboForex prioritizes reliability and client satisfaction, establishing itself as a trusted partner for traders worldwide.
👍 Advantages of trading with RoboForex for traders:
•Availability of favorable trading conditions and a minimum deposit
•Unique investment program CopyFx
•Highest affiliate payments: up to 84% of the fee paid by the referral
•Market launch - STP and ECN
•Instant withdrawal of funds
•Minimum deposit - $10
👎 Disadvantages of RoboForex for traders:
•A small number of currency pairs - 36, for accounts: Pro, Pro-Cent, ECN, Prime
•Lack of tools when trading on the R StocksTrader platform
2
Best Mobile App for Penny Stock 2024 - Exness
Exness is one of the world’s largest brokers, known for its competitive trading conditions, high security, and wide selection of assets. The company serves over 700,000 active clients and processes a monthly volume exceeding $4 trillion.
While specializing in currency pairs, Exness also offers CFDs on stocks, commodities, indices, and cryptocurrencies. The broker caters to all experience levels with various account types – from cent accounts and social trading for beginners to high leverage and Expert Advisor support for seasoned professionals.
Exness holds multiple international licenses, including the stringent FCA and CySEC, ensuring trader funds are protected.
With features like 24/7 support, fast withdrawals, and analytics tools, Exness strives to provide an optimal trading experience.
👍 Advantages of trading with Exness for traders:
•Availability of 8 licenses and a membership in the Financial Commission with its own compensation fund to insure traders against losses;
•Wide choice of account types — Standard, Pro, Cent, Swap Free, and Demo;
•Wide range of CFDs, including over 100 currency pairs;
•Zero deposit and withdrawal fees;
•Proprietary platforms for active and social trading, as well as all versions of classic MT4 and MT5.
👎 Disadvantages of Exness for traders:
•The broker’s website offers almost no educational materials;
•24/7 support isn’t available in all languages.
3
Best Mobile App for Penny Stock 2024 - TeleTrade
TeleTrade is a global broker serving clients worldwide. They offer trading on Forex, indices, stocks, metals,cryptocurrencies, and energies. While lacking PAMM accounts and certain investment options, TeleTrade boasts a robust copy trading service, a strong affiliate program, and diverse account types (ECN, NDD, crypto). With sufficient leverage (up to 1:500) and spreads from 0 pips, the broker caters to various trading styles, including scalping, intraday trading, and medium to long-term strategies.
TeleTrade supports traders with market analytics, expert forecasts, an economic calendar, and a comprehensive education section on their website.
👍 Advantages of trading with TeleTrade for traders:
•detailed analytical section;
•informative educational section.
👎 Disadvantages of TeleTrade for traders:
•no PAMM accounts or other money management options;
•a small range of trading instruments;
•few withdrawal options;
•support is available 24/5;
•withdrawals delayed;
•technical support responds slowly;
•sometimes it takes a long time to verify data.
4
Best Mobile App for Penny Stock 2024 - AMarkets
AMarkets provides a wide range of trading instruments, including Forex, stocks, commodities, and cryptocurrencies.
With average execution speeds of 35-50ms and floating spreads from 0 pips on the ECN account, it implements a low-latency environment suitable for high-frequency and scalping strategies. Leverage up to 1:3000 is available across account types. Traders can utilize advanced analytical tools like AutoChartist, Trade Analyzer, Sentiment Indicator, and a large database of EAs. The broker’s copy trading platform allows investors to seamlessly copy successful trading strategies. While offshore regulated, the broker offers additional security through a compensation fund and independent third-party audits.
AMarkets provides a robust environment for those looking for advanced trading conditions.
👍 Advantages of trading with AMarkets for traders:
•Order execution speed is 35–50 ms (average market indicator is 200–500 ms);
•Average market spreads from 0.3 pips (average market indicator is from 0.5 pips);
•Newest passive investment platform – AMarkets Copy Trading;
•A set of analytical tools, including signals, risk management tools, and algorithmic trading, is integrated into the user account;
•Compensation fund of up to EUR 20,000 per each client.
👎 Disadvantages of AMarkets for traders:
•Expert advisors with basic settings are unprofitable. Launching templates without preliminary testing is strongly not advised.
•There is no information about how the rating of managers is formed and how much can the provided statistics be trusted;
•Absence of a regulatory license. The broker is registered in Saint Vincent and the Grenadines, but there is no information about the license from a regulator. The Financial Commission does not issue licenses.
5
Best Mobile App for Penny Stock 2024 - Binary.com
Deriv (Binary.com) offers trading services with a focus on derivative products like binary options and CFDs. The company has a history that dates back to 1999 and is regulated by several entities including the Malta Financial Services Authority (MFSA).
The broker also offers competitive fees and a low minimum deposit, making it accessible to traders with varying budget sizes. Flexible trade duration varies from 1s to 365d.
Deriv Multipliers blend the potential gains of leveraged trading with the controlled risk associated with options. This trading type allows traders to increase their market exposure while managing risks with built-in features like stop-loss and take-profit orders. Multipliers provide a balance between high-risk trading and traditional instruments.
👍 Advantages of trading with Binary.com for traders:
•extensive experience (the company has been operating for more than 20 years) and the availability of a regulator;
•the minimum amount for replenishing and opening a bid is $5 and $1, respectively.
👎 Disadvantages of Binary.com for traders:
•online chat for support is not available on the company's website;
•no cent account;
•sometimes there are platform failures;
•there is no trust management accounts;
•sometimes there are delays in the withdrawal of funds;
•some clients have difficulties with the registration process;
•sometimes technical support takes a long time to respond.
Best Mobile App for Penny Stock 2024 – Security for Traders
Broker’s security and reliability are a priority factor for choosing a mobile app to trade in financial markets. TU analysts performed an analysis of the Top 5 brokers and published the results of their research below.
RoboForex - Security for Traders
Security (Protection for Investors)
RoboForex is regulated by the International Financial Services Commission - FSC Belize (license 000138/7).
FSC Belize is an international financial regulator. The commission sets strict requirements for all its members, and only those companies that meet the regulator's standards and comply with all its requirements are licensed by the organization.
Thus, RoboForex carries out financial activities under its regulations and their requirements, which provide traders with clearly defined rights and obligations and thereby safely secure their monetary assets.
👍 Advantages
-
Clear regulations for trading operations
-
Governs the relationship between a broker and a trader
-
Ability to file claims in the case of a dispute
-
Governs trading NASDAQ and NYSE stocks
👎 Disadvantages
-
A large number of regulatory documents, which must be studied before starting cooperation with RoboForex
Exness - Security for Traders
Security (Protection for Investors)
The Exness Group includes 8 companies that are licensed in their respective countries of registration. The most reputable regulators of the broker are FCA and CySEC. However, subdivisions licensed by these regulators don’t provide their services to retail traders and private investors. Also, Exness is regulated by BVI FSC, FSCA, FSA (Seychelles), and FSC (Mauritius). Also, the broker is licensed by CMA and CBCS.
Since July 2021, Exness has been a member of the Financial Commission that protects traders in case of insolvency of the servicing broker. Therefore, if Exness goes bankrupt, each client can receive compensation of up to €20,000.
👍 Advantages
- Client deposits are segregated from the company’s capital
- Multi-regulation allows the broker to work with traders from different regions
- All regulatory licenses are valid, which means that regulators are satisfied with the broker’s activities
👎 Disadvantages
- FCA and CySEC licensed offices provide their services only to institutional B2B clients
TeleTrade - Security for Traders
Security (Protection for Investors)
TeleTrade is regulated by the Cyprus Securities and Exchange Commission (CySEC). Also, the broker is a member of the Association of Forex Dealers, a self-regulatory organization.
Therefore, TeleTrade carries out financial activities in accordance with its own regulations and in compliance with the requirements of the regulator.
👍 Advantages
- The broker cannot use the funds of hte clients - they are held separately
- An independent person is involved in resolving disputes
- Rights and obligations are clearly defined in the agreement
👎 Disadvantages
- Claims of private traders who trade in small amounts are not considered
AMarkets - Security for Traders
Security (Protection for Investors)
AMarkets is registered with the Financial Services Authority (FSA, St. Vincent and the Grenadines), although this organization is not the broker’s regulator. AMarkets is registered and licensed in the Island of Mwali (Comoros) with license number T2023284 and supervised by the Mwali International Services Authority (MlSA). The broker is also registered in the Cook Islands by the Financial Supervisory Commission (FSC) with registration number LLC14486/2023.
AMarkets also holds A category membership in The Financial Commission, a self-regulated organization in the financial markets. Its certificate confirms that AMarkets fully complies with the European criteria of reliability and quality of brokerage services. Also, AMarkets has a partnership with Verify My Trade (VMT), an independent auditing service. The service performs a monthly audit of the order execution quality, and you can review the results on the auditor’s website. Read more about AMarkets Available Countries.
👍 Advantages
- Compensation fund in the amount of EUR 20,000 per each client
- Monthly independent audit
👎 Disadvantages
- Offshore regulation
Binary.com - Security for Traders
Security (Protection for Investors)
Information
Several organizations act as regulators of the broker's activities, namely: Labuan Financial Services Authority (MB/18/0024), BVI Financial Services Commission (SIBA/L/18/1114), Vanuatu Financial Services Commission (303043), and Malta Financial Services Authority (IS/70156).
Thus, the company carries out financial activities following the regulations and requirements of the regulators. This means that the rights and obligations of both the broker and its clients are clearly defined. The settlement of disputes and the safety of clients' funds are also guaranteed.
👍 Advantages
- Client funds are held separately and are not available for use by the broker
- Controversial issues are resolved with the involvement of an independent arbitrator
- The rights and obligations of the client, as well as the broker are written in the Agreement
👎 Disadvantages
- Regulators do not consider claims of private traders who trade in small amounts
Summary
In the process of choosing the Best Mobile Trading App for Penny Stock 2024, TU experts analyzed features of 5 different brokers. Now you can learn the final score given by the analysts to brokers. We evaluated all apps based on specified criteria.
| RoboForex | Exness | TeleTrade | AMarkets | Binary.com | |
|---|---|---|---|---|---|
|
Overall score |
8.86 |
7.69 |
7.63 |
7.51 |
8.11 |
|
Execution of orders |
8.95 |
9.6 |
3.21 |
8.4 |
9.82 |
|
Investment instruments |
9.73 |
9.43 |
9.3 |
8.2 |
9.54 |
|
Withdrawal speed |
9.71 |
8.79 |
7.79 |
6.57 |
10 |
|
Customer Support work |
9.17 |
9.29 |
8.41 |
8.07 |
5.41 |
|
Variety of instruments |
8.75 |
8.02 |
8.75 |
7.37 |
5.12 |
|
Trading platform |
6.86 |
1 |
8.29 |
6.44 |
8.76 |
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FAQ
If a broker has several platforms, does it mean it offers several apps?
No. If a broker has several trading platforms, there is either an option to switch between them in the app, or only one trading platform is available (usually the proprietary one).
Are there updates for the apps of brokers?
Yes. Mobile apps of brokers are regularly updated and it is very important to update them in the view of proper operation of services.
Are there versions of the apps for tablets?
In some cases, Forex brokers develop separate versions of apps for smartphones, tablets and even for TV sets.
If I remove the app from my phone and then reinstall it, will I lose the information?
No. The information is stored in the user account on the server. You will need to enter your username and password, pass two-factor authentication (if applicable) and you will have full access to your information.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.