Best stock trading app Ireland
Greetings, and welcome to the nextmarkets guide to finding the best stock trading app in Ireland. As a trading analysis platform and experts in the field of all things trading related, we know this area well!
We will guide you through the do’s and don’ts when trying to find the best app to begin or continue your investment journey, while also offering you some tips to help you through the world of brokers and trading overall. With that in mind, let’s jump right in!
Searching for a stockbroker app in Ireland
When you are looking for a suitable stock trading app in Ireland, there are a few things to consider about yourself beforehand; are you new to investing? Or have you got a bit of a background in these areas and won’t need as much help as someone who is brand new?
Also, it is worth considering which types of stocks you want to invest in and to review your investing goals.
As you may have guessed, there are a myriad of different stock trading apps in Ireland and many have been designed for different types of investing and different levels of expertise. For instance, the infamous eToro is more suited to beginners, whereas another famous stock trading app in Ireland, Plus 500, is a bit more technical and geared towards international trades.
Finding the best stock trading app
So, now that you have determined what your investing goals are and your level of experience, we can move onto what to look for in a stockbroker app. And while this may seem like a simple ‘check-the-online-reviews- step’, it is a bit more technical; afterall, money, trading and stocks is rarely straightforward! You’ll be able to buy Tesla stock to fund your retirement? Or would you prefer a short-term investment and are looking to buy Apple stock to fund a holiday? It’s all possible.
Check the cost
Through your internet search, you will have undoubtedly encountered phrases such as ‘free spreads’ and ‘free stock broker apps.’ If you are looking for tips on how to buy stocks in Ireland, these and other stock broker apps which offer free accounts can seem like the obvious choice to go for, but just because the account is free, it doesn’t mean that all the services of the app are!
Many stock broker apps offer free accounts, but there are often fees and charges for additional services; e.g. there may be a fee for broker assisted trades, or even a transaction fee.
Check to cost and check for associated costs. Some stocks cost more than others, so for example, if you buy Netflix stock, it may cost more than if you buy Amazon stock but may be more affordable than if you buy Facebook stock. So always check!
Support
We cannot put enough emphasis on how important support is when you are using a new app, especially when learning how to buy stocks in Ireland.
Do all your short-listed apps offer 24/7 support? How is their customer support overall? Are other traders happy with how their issues were handled? If not, move on!
Education resources
If you are a bit of a dab hand in the world of investing, this area may not be so important to you but if you are somewhat of a fledgling, you will need to look into education resources of the app you have chosen.
Are there vlogs? Are there articles linked to the app that show you how to buy stocks in Ireland? Is there a difference when you buy Google stock from other stocks?
As before, if not, then it’s time to swipe to the next app!
Additional factors to consider
Clarity!
There is an old saying; ‘If it sounds too good to be true, it probably is.’ And nowhere is this truer than with brokers and investing.
If you have found an app that guarantees that you won’t lose any money, it is a red flag.
When looking for a good investing app, you need to look for one that also explains the risks that come with trading and investing. Nobody knows what a stock is going to do, so any app that proclaims that it does know is unlikely to be legitimate and you will probably lose money.
Usability
OK, so this does in some ways tie into the level of experience but any app that you use for making investments should be easy to understand and have good usability.
As mentioned before, the world of trading can be confusing, even to those who are experienced, so to break down those walls and to boost confidence, you should look for an app that is easy to use and offers simple, jargon-free tips and advice.
If you feel like you are looking at blueprints from an alien spacecraft, you guessed it, move on to another app to make your investments.
Red flags
Security-issues
OK, so as is the case with any site where you will be placing your money, you should always research the app to ensure it is not the victim of frequent cyber attacks or hacking.
Sadly, many online investment sites and apps do have a history in their early days of being hacked but you can weigh this issue with how they now protect their investors.
If you aren’t sure if the app you are using to invest has any protection for investors against hacking, look for the app’s regulations. If they are Ireland-based, the app should be approved by the Irish Stock Exchange plc and the Ireland Strategic Investment Fund.
Bad reviews
While we mentioned earlier that finding a suitable trading app is a bit more complicated than simply reading the reviews, there is a lot of insight to be had by looking at customer reviews.
In relation to broker apps, keep an eye out for phrases like ‘poor customer service;’ as mentioned before, you will want an app that offers you real support when you are investing, especially if there is an error.
Try to pick an app that (based on reviews) offers good customer service, is clear to use and enables you to learn as you go. Keep an eye out for apps that can provide investors with different levels of support and advice based on your expertise level with trading and shares- they are often the best!
Additional issues to avoid
Pressure
More commonly seen with dodgy real-life stockbrokers, it is worth exploring if you feel that the app you have chosen is pressuring you into making bad decisions.
We have all left something in our basket on an online shopping site, only to be reminded about purchasing it a few hours later. But in relation to stocks, if you feel you are being pressured into investing in stocks you know nothing about, delete the app and contact the provider and the authorities.
Guarantees
We touched on this briefly before, if the app claims it is the best app to buy stocks in Ireland and guarantees that you make money from it by purchasing earmarked stocks, that is a huge red flag.
There are no guarantees when investing; nobody can predict stock movement 100%, so any app that proclaims it can is likely to be fraudulent. Never take anything at face value. It’s imperative that you consider all available information and base decisions on well-informed insights.
What to look for in an app
So,when looking for a good investor app, there are a few takeaway points.
Be sure to find one that offers you support 24/7 and helps you become educated in the world of trading, using jargon-free language across all areas. Keep an eye out for apps that can offer different insights based on your knowledge of investing. Make sure that if you feel the app is glitchy, or is putting too much pressure on you to make an investment, that you delete the app and report it to the correct authority.