Lately, trading is being widely discussed in all circles. The reason is, trading is said to be able to bring profits in a fairly fast time. Now, quite a lot of trading applications are popping up, but it's not uncommon for them to be less trustworthy.
Well, in this article you will recognize what are the best and most trusted trading applications for beginners and how to identify them. Come on, see a more complete explanation below!
What is trading?
Launching from Investopedia, trading is an economic concept in which there are buying and selling activities of goods and services. If we discuss in more detail in the context of investment, trading means trading in investment objects, which can be in the form of shares, currencies, or other types, which are exchanged for the same object with predetermined conditions.
How to find out the best safe trading app?
To find out whether the trading application you are using is trusted and safe, you can identify the following things.
1. Make sure the trading app has permission
The first step that needs to be done is to make sure that the best trading application you use has permission from the relevant agency such as BAPPEBTI (Commodity Futures Trading Supervisory Agency) or OJK (Financial Services Authority). From the existence of absolute and valid permits, it can be said that the trading application has passed the test and is recognized. The security of this application is certainly much higher when compared to fake applications.
2. Check user testimonials
As a beginner, it's good to find out how the testimonials from users who have used a trading application. Is it getting good feedback or is it not recommended to download? Good testimonials and reviews of course need to explain the basic considerations if you don't recommend a trading application.
Therefore, you also need to re-select who the users who provide reviews are, and it's a good idea to choose testimonials from experts on YouTube platforms, blogs, or other media.
3. Fast response customer service
The best trading applications will help users to make transactions easier. In addition to providing informational articles about trading, developers will usually provide CS services, either through chat or even telephone telemarketing. With customer service, application users can ask all kinds of questions, both about features in the application to information about objects used in trading itself.
4. Get to know the founder's company profile
Before putting your money and assets in a trading application, it's good to know who the developer of the application is and what the company is. After making sure that this application has been registered and has obtained permission from the legalizing party, now you can also double check by checking back on the Ministry of Trade website.
On the Ministry of Trade website, there is a special page that lists the names of any companies that already have permits. You can even search in the search column of the page for the full address, telephone number that can be contacted, and the number of applicable permits. With this very complex information, of course, it can make you more confident to put assets and make transactions on trusted trading applications.
The 5 best and most trusted trading applications and their pluses and minuses
The large selection of trading application platforms out there often makes you confused which application is the best for you to use. To make it easier for you, check the recommendations for the best and most trusted applications for beginners complete with the following advantages and disadvantages.
IPOT stands for Indo Premier Online Technology or also known as IndoPremier, which has been downloaded by more than 1 million people, you know! No wonder this application has been equipped with supporting features that make it easier for traders to transact.
The advantages of the IPOT application itself are quite diverse, including a complete robo-trading system, reports on how many gains (profits) and losses have been since joining, and charts of stock developments. In addition, the IPOT application can not only be accessed via mobile phones, but also through desktops.
Meanwhile, in terms of weaknesses, IPOT has several drawbacks, such as a fairly complex display so that beginners will need additional time to learn this one trading application.
The Stockbit trading application is one of the best and most trusted trading applications suitable for beginners. The reason is, Stockbit has a pretty practical interface, a forum for discussion about stock trading, and a prediction tool when setting prices.
Not only that, Stockbit also has a virtual trading feature in the form of a virtual money demo of IDR 100 million that you can use as a place to practice. By exploring using virtual savings, you can begin to understand the flow and safe trading methods without feeling loss.
Transaction fees on Stockbit can also be said to be cheap because every purchase transaction will be charged 0.10% and for selling is charged 0.20%. Unfortunately, Stockbit's weakness lies in some of the best features that can only be accessed on a premium or paid basis.
Ajaib is the best and most trusted trading application in recent years that is already well-known among the public. This trading application with a distinctive genie lamp logo and blue background has a simple appearance so it is not difficult for beginners to use.
The Magic application also has various investment products other than stocks, such as mutual funds and time deposits. The new user registration process is also very easy. With a simple UI, users will find it easier to operate this application.
For those who are just learning about trading, Ajaib also has a Big Dictionary of the Investment Language, so you can recognize new terms and understand their uses. Another advantage of the Magic application is detailed issuer information and real time graphic data.
On the other hand, this application still lags and takes a long time to load due to busy user traffic. However, of course, the development team will continue to improve the quality of the application.
4. ForexTime FXTM
Judging from its name, ForexTime FXTM is the best trading application that focuses on forex trading activities. Launching the official website, the ForexTime app has been used in 180 different countries in the world. Of course, there are already quite a lot of satisfied users and give good reviews of this one forex trading application.
For those of you who want to try forex trading but don't have experience, the ForexTime application provides a demo feature that you can try. You can use this demo to explore and practice forex trading without having to be afraid of losing money.
No need to worry if you don't understand the language used in the application, because ForexTime is available in various languages and one of them is Indonesian. In addition, the ForexTime application can also be downloaded via mobile devices or computers with Windows and Mac OS.
Talking about the transaction system, the withdrawal process at ForexTime is also fairly quick and easy. The available leverage is quite diverse and flexible, even for a professional trader, the leverage value can be higher.
For the downside, the ForexTime app is still limited in the products it sells. And for customer service, this company is only available on weekdays, namely Monday to Friday.
5. TD Ameritrade
Not many are familiar with this one trading application. TD Ameritrade is one of the best trading apps from America which is suitable for beginners. Not only focusing on forex trading, the choice of instruments available at TD Ameritrade is quite diverse.
This application development company also provides fairly complete information for beginners, so they can read guides and tips so they don't lose too much and lose a lot of money.
As a worldwide application, unfortunately, TD Ameritrade has the disadvantage of high transaction fees and the absence of transaction options using credit, debit or e-wallet cards as a destination for transferring money.
That's an explanation of the recommendations for the best and most trusted trading application for beginners who of course have obtained a license to operate from the state. Well, now you can determine which application you want to choose and fits your needs. It never hurts to try the demo feature in some of the applications that provide it, so you have nothing to lose and lose money.