From apps to operate in trading, to apps to manage our income and expenses, our Smartphone can become the device that centralizes our finances.
If you are interested, we encourage you to continue reading.
An app for trading ETFs:
First of all, what are ETFs? An Exchange Trade Fund, is basically a classic investment fund with which it is traded as if it were a stock of a lifetime, but sharing with the usual funds the characteristic of diversification, which in theory tends to minimize, never completely eliminate the risk to capital.
The National Securities Market Commission continues to consider them as a form of collective investment (several investors unite in an investment fund) but contrary to what happens with traditional investment funds, ETFs can be bought and be sold at any time.
If we want to trade ETFs through online brokers, they offer the possibility of trading ETFs in the form of CFDs, that is, using the variations in the prices of the index to operate, instead of buying and selling in order to get profit.
Some pros and cons of trading ETFs or any other financial instrument through CFDs:
Advantages: we can always position ourselves in favor of the trend if we have the necessary expertise to know how to read the market indicators, and once we have learned how to trade CFDs we can use different instruments, such as raw materials, cryptocurrencies, shares or launch ourselves to operate in the Forex.
Cons: we do not own the asset and it is necessary to study how to trade before starting to make our investment, since the basic rudiments to master it require patience and study. In addition, trading any asset with CFDs involves operating leveraged, which means financing a large position with debt lent by the broker, and the trader contributing a minimum part of the total value of the operation, which implies the possibility of incurring large losses if the operation goes wrong, or even in debt if the chosen broker does not protect us against them.
The improvement of telephone networks makes it possible to operate through our Smartphone once we have downloaded our broker's app from the store, when not too long ago it was an essential requirement to operate from our computer, desktop or portable, greatly limiting the time at which to open a position.
In addition, trading from the mobile phone allows you to control the operation at all times, since, although when opening the operation we establish a stop loss and a take profit that jump to limit losses and collect profits respectively ( although there may be circumstances where they do not automatically make us lose, or win, more than expected), we also have the possibility of closing our operation early. By the way, this is something that some traders find inconvenient, since taking profits or stopping losses sooner than we had anticipated with our analysis prevents us from gaining valuable information about what made us succeed or fail, information thanks to the which will improve our trading.
Apps with which we will never have an overdraft in our checking account:
As long as we have enough income, of course, since there are no apps that perform miracles, at least for the moment.
The first app that we should have installed on our Smartphone is that of our bank, since in addition to making transfers and other day-to-day operations, most banks already include the possibility of using Bizum, the ideal tool for making small payments and thanks to which we will no longer have to always invite that freeloader friend who mysteriously never has change in his pocket to an aperitif.
Although bank apps usually allow budgeting to control what we spend, perhaps we find it more convenient to download an app dedicated exclusively to controlling what enters and what leaves our checking account, such as Fintonic, Digit, Mint that offer the possibility of categorizing expenses, to know by heart where we are spending the money and know where we can try to contain the expense, if our objective is to end the month with a little more money.
It is worth investigating what apps can offer us in this sense, since they have been developed as businesses, but also to facilitate tasks that previously required much more work on our part.
