The world is going mobile and fast. As mobile technology continues to improve, investors are relying on their phones and tablets more than their computers, and because of that, app developers are working hard to meet the needs of these investors. Most brokerages now have apps for their customers to use, but what about those who are looking for more than what they're getting from their brokers? There are a lot of great apps on the market; here are five worth checking out.
StockTwits is like Twitter for traders. Download this app to read in real time what traders are doing in response to market conditions. You'll find amateur traders as well as feeds from the most well-respected investing firms and media outlets. Along with the Twitter-style feed, some traders also post charts and videos offering free technical analysis. If you're a day or short-term trader, this is an app to watch throughout the day and best of all, it's free.
Sometimes the best apps are the simplest and that's what makes FuturesLive such a useful app. If you're a commodity trader, you're constantly looking at futures quotes, but in a sea of apps designed for stock traders it's hard to find one devoted to the commodity crowd.
FuturesLive provides quotes for hundreds of futures available from all of the major exchanges, organized by easy to understand categories like energy, metals and livestock. It doesn't try to track your portfolio or provide other bells and whistles that make some apps buggy. Instead, it provides the quotes you need when you need them.
SEE: How To Outperform The Market
Stock Guru for iPad
If you have an iPad, Stock Guru for iPad is a robust engine that provides real time analysis for nearly 7,000 stocks. You can analyze risk, momentum, financial strength and a proprietary guru rating that sums up all of the data for those who don't want to dive into the details. The downside to this app is it's $19.99 price tag, but those who are serious about their stock picking know that good tools cost money; Stock Guru is routinely found on traders' short list of must have apps.
SEE: 5 Top Traded Stocks
The stock market can flip in seconds and that's why every trader needs an app that provides real-time news and current events. Bloomberg is the choice for professional traders and its app provides much of that power for those away from their computers. Not only does it have current financial and world news, but stock quotes and graphs are also easy to find. Along with the app, Bloomberg provides push notifications for breaking news so you're never out of the loop.
Wall Street analysts are the type of people you either love or hate. Some investors rely on their research to make decisions while others ignore them altogether. If you're one that uses analyst ratings as part of your research, check out AnalystRT. This app includes analyst ratings for thousands of stocks and allows you to create a watchlist for stocks that you're considering buying. It will set you back $2.99, but for those who rely on the opinions of analysts, this is a must have.
The Bottom Line
New financial apps are coming to the market all of the time and as mobile technology improves, investors are increasingly relying on their mobile devices to trade and research. If you haven't tried any of the above apps, give them a try or do some further research to see if they fit your investing style.