Complete Guide: How to Choose the Right Stock Trading App on Your Phone

Stock trading via phone is no longer a stranger. This trend will continue to grow strongly, thanks to clear benefits: no need to visit a physical trading floor, save time, and continuously monitor the market 24/5 to seize any opportunity. However, with hundreds of reputable stock apps on the market, choosing the right tool is an important first step.

Classification of stock trading apps: 3 main types

Mobile stock trading platforms can be divided into 3 main groups, depending on their purpose:

1. Direct trading apps (CFD and derivatives)

These apps allow you to trade contracts for difference (CFD) on international assets without direct ownership. Main advantages include:

Strengths:

• Profit whether the market goes up or down
• Leverage trading (up to 1:20 for stocks, 1:200 for other assets)
• Lower transaction fees compared to direct buying/selling
• Quick account opening (in just 10-15 minutes)

Weaknesses:

• No direct ownership of securities, no voting rights
• High risk when using leverage ineffectively
• Requires good risk management skills

Notable apps in this category:

• Mitrade (iOS: 4.5/5.0, Android: 4.5/5.0): Supports 300+ US stocks, indices, forex, commodities. Extremely narrow spreads (e.g., 0.06 pip for Apple), no commission fees. Free demo account with 50,000 USD virtual to practice.
• IC Markets (iOS: 4.4/5.0, Android: 4.6/5.0): cTrader platform, regulated by ASIC, high transparency.
• eToro (iOS: 4.6/5.0, Android: 4.4/5.0): Social platform, allows automatic copying of trades from top traders, leverage up to 1:400.
• FxPro (iOS: 3.5/5.0, Android: 4.5/5.0): Operating since 2006, 100+ tradable assets, maximum leverage 1:500, but with high fees (up to 9 USD/lot).

2. Domestic stock trading apps

These apps mainly support direct buying and selling of stocks on Vietnamese exchanges (HSX, HNX, UpCom). This is a traditional investment form, where you hold actual ownership rights.

Strengths:

• Direct ownership of stocks, receive annual dividends
• Limited risk (only invested money)
• Voting rights at shareholder meetings

Weaknesses:

• Large initial capital required (e.g., to buy stocks worth 100,000 VND, need at least 10 million VND for 100 shares)
• High transaction fees and commissions (0.15-0.35% of transaction value, plus ~30,000 VND per order)
• Profit only when prices rise (cannot profit from falling prices)
• Complex account opening procedures, takes 2-5 working days
• Limited trading hours, long settlement times (T+2)

Popular apps:

• VPS Smart One (iOS: 3.5/5.0, Android: 3.9/5.0): Relatively low fees (0.2%). Supports VN30 (domestic derivatives).
• VNDIRECT Trading App (iOS: 3.0/5.0, Android: 3.9/5.0): From one of Vietnam’s largest brokers. User-friendly interface.
• TCInvest (iOS: 3.0/5.0, Android: 4.2/5.0): Bank-standard security, highly rated by domestic traders.

3. Apps for analysis, news, and support tools

These apps do not support direct trading but focus on technical analysis, news updates, and market data. They are useful tools when you are preparing to make trading decisions.

Featured apps:

• TradingView (iOS: 4.5/5.0, Android: 4.5/5.0): Powerful technical analysis tools, social network for traders, where you can learn and share ideas.
• Investing (iOS: 4.7/5.0, Android: 4.2/5.0): Real-time stock valuation, diverse analysis tools for global assets.
• CafeF (iOS: 4.5/5.0, Android: 3.6/5.0): In-depth Vietnamese stock and finance news, follow hot stocks domestically.
• MarketWatch (iOS: 4.5/5.0, Android: 4.5/5.0): Top business news and international market data (S&P 500, Dow Jones, etc.).

Comparison: Underlying stocks vs. derivatives

Choosing between these two forms depends on your strategy and capital:

Specific profit examples with/without leverage: Suppose the price rises from 1,000 USD to 1,100 USD:

• Buying underlying (without leverage): Invest 1,000 USD → Profit 100 USD (10%)
• Buying derivatives (with 1:20 leverage): Invest 50 USD → Profit 100 USD (200%)

However, if the price drops from 1,000 USD to 900 USD:

• Underlying: Loss of 100 USD
• Derivatives: Loss of 100 USD (full margin loss)

How to choose a reputable stock app

When choosing, consider the following factors:

1. Licensing and regulation: Select brokers licensed by international securities authorities such as ASIC (Australia), FCA (UK), CySEC (Cyprus). These licenses ensure your funds are protected in segregated trust accounts.

2. Trading fees: Although CFD fees are lower than direct trading, they still vary across platforms. Compare spreads (bid/ask difference) to find the most cost-effective option.

3. Risk management tools: Good apps provide stop-loss, take-profit orders, and account protection against negative balances. These are essential to safeguard your capital.

4. Trading platform: Some apps support MT4/MT5 (industry standard), while domestic stock apps often use proprietary platforms.

5. Ratings and customer support: Check ratings on App Store/Google Play, read genuine user reviews, and evaluate customer support quality.

Guidance for different investor groups

For beginners: Start with reputable stock apps with simple interfaces, good risk management tools, and free demo accounts for practice. Mitrade, TCInvest, and Investing are suitable options.

For intermediate investors: Those wanting to trade international derivatives can choose IC Markets (cTrader platform), eToro (social platform), or FxPro (with multiple platform options).

For advanced investors: Combine different apps: use TradingView for technical analysis, Mitrade/IC Markets for trading, and CafeF/MarketWatch for news updates.

Start your trading journey

No matter which app you choose, remember that stock trading always involves risks. Always:

• Start with small capital to learn
• Use risk management tools (stop-loss, take-profit)
• Never invest money you cannot afford to lose
• Keep updating your knowledge and skills

Reputable stock apps today are fully equipped to support you from initial steps to complex trading decisions. The key is to select tools aligned with your goals and experience, then practice systematically and disciplined.