Best Day Trading App for iPhone and Android 2022 Your Guide to the Best Day Trading App for Beginners

We at CAPEX offer the best day trading app for beginners and experienced traders alike. We created this guide to give an insight into our platform and what you should consider before using the app.

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More than 2,100 instruments

We at CAPEX have thousands of instruments to choose from for our customers to trade, from shares and bonds to commodities and our exclusive blends. The wide variety allows traders to diversify their portfolios with the help of trading indicators and tools to make the process more efficient. In that sense, you’ll be able to try new markets and discover new favorites. You could even approach those new markets with your demo account, so you don’t have to risk your capital until you know that market better. At CAPEX, you’ll surely find new attractive instruments to invest in and love.

Resources and strategies for beginners

Here at CAPEX, we offer a range of features to help individuals improve their trading abilities.

We produce a variety of client webinars and informative video clips for traders on different skill levels, which you can find at the CAPEX Academy, as well as trading and broker guides like the one you are currently reading. Also, you’ll be able to test and improve your trading skills without risking your finances through a demo account, included with every CAPEX account. With CAPEX, you’ll be an expert in no time!

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What is day trading?

Here at CAPEX, we offer different ways to trade for our range of investors and customers, including the popular choice of day trading. Day trading is the idea of buying and selling assets and trading within a single working day. It can occur in any marketplace, but it is the most popular in the Forex, or foreign exchange market, and the stock market. Day traders genuinely have a lot of knowledge on the subject and a good amount of funding to pursue this daily.

They are active traders instead of individuals who may only check in on the market once or twice a day. Day traders execute intricate techniques and strategies that they have perfected to profit on price changes of a given asset. This trading method requires a high level of commitment and self-discipline because there is a lot of technical analysis and concentration needed for it to be profitable for the individual.

Day traders benefit from short term positions

Day traders use high numbers of leverage (using borrowed funds to increase the return on trades) and short term trading strategies instead of long term. Short term is the preferred method because individuals can capitalise on small price movements that happen in assets with high liquidity. It is also influenced by what traders hear on the news like if a heavily influential voice has something to say on the market, it can benefit what moves to make next in the day trade.

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Day trading strategies

We allow our customers to use what techniques suit them on our best day trading platform. They can use them effectively on our online site and our mobile apps, respectively. We researched several popular intraday (occurring during the day) trading strategies and outlined them below, which include:

Scalping

This strategy is an example of a short term form of trading. It is popular to use when trading Forex while using technical indicators for day trading, but it is also an intense way to trade. The aim is to make many small profits on small price changes throughout the day. Meaning the trader has to be dedicated to the market at the quietest and busiest times of the day. Scalp traders will only hold positions open for seconds or minutes at most, then close them again.

The busier times of the day are when this strategy occurs the most, and there is a higher volatility rate of major currency pairs like USD/GBP. This method is suitable if you like the fast pace transactions, but it is also quite stressful. It embodies what day trading is because you are using technical analysis, including tools like the Relative Strength Index (RSI) which we offer among others on CAPEX.

News-based trading

As mentioned, the news and announcements about the current markets can affect the price of certain assets and how they function daily. We provide resources where we highlight the latest market news for customers who use this day trading strategy. It is an effective method because it allows individuals to take advantage of trading opportunities from the heightened volatility surrounding these announcements and events. One market that is heavily volatile and affected by news is the crypto market. We like to keep a close eye on what is going on in the crypto world because prices are quick to rise and fall and affect the volume of trades in a day.

High-frequency trading

Similar to scalping, high-frequency trading or HFT is a strategy that executes trades quickly. HFT uses highly sophisticated algorithms to have trades completed in milliseconds. These algorithms exploit short term market inefficiencies by using powerful computers to scan multiple exchanges and markets at a time. Still, it does provide an unfair advantage to the average trader.

Range trading

This day trading strategy uses the help of support and resistance levels to determine whether the trader should buy or sell. This feature is available on CAPEX as it allows you to monitor the daily change of an asset and if it stays within a price range or not. It is an active strategy, so it is great for day traders because they are looking at the price of an asset and deciding to trade when the market is in a trading range.

 

Factors influencing Forex Trading

Graph Shape

Important political developments

Tax changes

Consumer & producer preferences – CPI or PPI reports

Interest Rate Decisions - Bank of England MPC Announcements, Fed Interest rate Decisions, etc.

Other market-related FX news

Visit our Special Articles page for the latest market news on cryptos, stocks, indices, and more!

Day trading vs. swing trading

We looked at both day trading and swing trading and decided to compare the two methods and what we think is the better option to use online and on our best day trading app.

Time management

Day trading requires individuals to be present on their accounts at all times of the day. It can be beneficial to them because they will first know what is happening to the market and what trends are occurring. But it does mean less time to take breaks because if the market is extremely busy, you have to stay focused on your positions.

On the other hand, swing trading focuses on trades that hold positions for a more extended period with the aim to maximise profits in the long term. A swing trader doesn’t have to spend all their time on the account but can spend a few hours a day on it, like a part-time job.

Full-time vs part-time

Day trading benefits those who like making multiple trades throughout the day and can do this full-time. It’s also good because you close your positions before the next day, so you don’t have to worry about overnight fees that may come into play if you leave a position for longer than needed. As mentioned in this review, you can use your day trading strategies on our online platform and the app, so it is convenient.

Swing trading allows users to maintain daytime jobs, and it is also a lot simpler than day trading. It has its popularity because it gives individuals more freedom to do other things, but that also comes at a cost because the overall profit will not be as much as a day trader fully committed to it.

Understanding the techniques

If you want to make significant profits, you generally have to invest large amounts of money to see results. Since day trading is also based on indicators and technical analysis, it takes a lot of time to understand this technique fully. It is best suited for traders who are more experienced and have sufficient funds than beginners who are just starting to trade. In addition, day traders tend to choose assets that can earn income daily and make quick decisions based on their knowledge. They research what is volatile and what can make a profit, which requires considerable knowledge and time to understand.

Decision making

For the most part, swing traders don’t need to worry about making hasty decisions but can be more patient about the assets they’re investing in. This method also allows swing traders to order an open position when the market is closed and plan what they plan to buy or sell. You don’t need as much funding to use the swing trade method, but because you’re holding positions overnight, you can be met with fees to do so.

Day trading is a more hectic and stressful strategy, but one that we know is very popular on CAPEX because once the trader understands the method, it can be very profitable in the long run. There may be more risk in day trading because of the fast-paced nature of it all, but with more risks comes more opportunity to have a higher return quicker than with the swing trading method.

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What is the best day trading app?

We at CAPEX looked at several trading apps and think that what we offer is one of the best for beginners and experienced traders. Our website offers two platforms, and each one can be considered amongst the best online trading platform, including WebTrader and MetaTrader 5 (MT5). These platforms are available on our day trading app iPhone, other iOS devices and on Android devices. They offer the same functionality as the desktop version in an on-the-go format.

You can download our day trading app Android on Google Play and the Apple version on the Apple store. We looked at the MT5 platform, and the WebTrader platform offered to users of CAPEX and outlined them below.

MetaTrader 5 (MT5) platform

Our members can benefit from the industry favourite MT5 platform. It’s popular because it’s an online system that is a trusted and world-renowned option for investors and traders. The platform has an intuitive and accessible interface that is fully customisable too.

Our users can run up to 10 charts simultaneously, use easy to access control panels, have 30 built-in key performance indicators to choose from when trading and benefit from instant execution, to name a few of what we offer.

CAPEX WebTrader platform

This platform is designed for the more advanced traders. It is fully customisable with several chart types and 90 popular indicators to choose from when trading. It also comes with advanced tools and recommendations from our financial experts to help you with your trades. Both this and MT5 are easily accessible on our mobile apps and don’t require any additional downloads to use.

We at CAPEX don’t offer a free demo account on its own, but it is included in your account type package. So no matter what level of a trader you are, you have the option to practice your skills and use our tools and resources to help you further.

 

Benefits of day trading on CAPEX

When using our platform, you can benefit from our fast and reliable execution speeds, especially at peak trading times. All of this and more is available on both the desktop version and the mobile app. In addition, we offer advanced charting options and powerful research tools from Trading Central or TipRanks.

In addition, we don’t charge deposit fees on our platform, and the minimum deposit is $100, or the equivalent of your chosen currency, as accounts with us can be opened in EUR, GBP, DKK, HUF, CZK, PLN, ZAR and SEK.

Our platform also has high liquidity, enabling users to enter and exit trades at a stable price promptly. It is ideal for day traders who want to make the most out of their short term positions.

Instruments available

We allow clients to trade across a vast range of over 2,100 instruments.

  • These include Forex, one of the most popular markets for day trading with 55 major, minor and exotic currency pairs.
  • Cryptocurrencies are one of the most volatile markets that include the most popular cryptos such as Bitcoin, Cardano, and Ethereum.
  • Shares such as Google and Apple, amongst other companies.
  • Commodities including gold, oil and gas.
  • CFDs such as cannabis and many more instruments to choose from.

 

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Trade

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Start trading with CFD’s and over 2100 other instruments.

Risks

As with any investing, day trading does have its own risks, these include:

Volatility

Although it is our strong point, it can also be the reason traders lose money. We have highly volatile markets, and traders use this to their advantage. But it is also probable that an asset could favour an opposite direction and cause a loss.

Addiction

Some can look at day trading and build up a psychological addiction. Like gambling addictions, the potential to make large amounts of money in a short period can push an individual to a hot streak or push them into loss after loss. Always set clear objectives when trading, in concordance with your own financial goals.

Margin risks

Similarly with addictions, if you can’t afford to lose the money you’re trading, it’s not a good idea. Some investors use margins to improve their buying power, meaning they are essentially using borrowed money to trade higher amounts. It could increase the amount of money you make, but it could also increase how much you lose.

Conclusion – If you want to day trade, choose CAPEX

Overall, we believe that our trading platform also has one of  the best day trading app. It offers an easy to use interface and allows individuals to use popular day trading strategies and tools on their daily trades. It is an advanced trading method to understand, and it may be a challenge for beginners.

Nevertheless, we at CAPEX offer a demo account to all account holders to let them practice and learn the techniques that will best maximise profits in the long run. If you want to learn with the best day trading app, don’t wait to open your account at CAPEX.

Best Day Trading App – FAQ

✨Can I day trade on a mobile app?
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