Smartphones are now an essential tool for anyone who is serious about trading.
They have the ability to keep you in the action, so that you’re never more than a few seconds away from the information you need.
But here’s the thing…
There are now so many smartphones on the market, it’s a headache choosing the best one for you. And if you’re used to just one brand, it’s even worse.
What if your brand isn’t the best?
We take a look at the best smartphones for stock trading. But first…
What are we looking for?
Using a smartphone for trading, whether it’s day trading or forex or any other securities-based work, means having certain features and capabilities at your disposal.
We think the most important aspects of a good smartphone in this arena are:
- The display. If it’s clear and bright, we want it. Traders need to have something they can look at even in the harshest sunlight of a busy trading day. And they can’t miss a single element of the data they’re looking at
- Battery life. If you’re rushing around trading all day, or if you’re a trader who’s also holding down a full-time job, you need to be able to rely upon a strong battery. The battery has to give you enough power to service trades at key points in the day. It also needs to be able to supply you with key financial data throughout that day
- Screen size. If you’re looking at a small screen, you’ve seriously limited your own potential as a trader. If you’ve got a screen that is small (less than 5 inches, for example), you’re in danger of literally not seeing what needs to be seen
- Speed. We’re fully aware that all smartphones are pretty quick these days. But that doesn’t mean they’re all fast enough. The phones we’ve looked at in this article come up with the goods as regards fast processing
Samsung Galaxy S9 and S9+
It’s a beast of a machine anyway, but it’s also one of the best for trading due to the fact you have so much space to use visually.
The team at Samsung have created a smartphone that simply has the best use of screen space. In other words, the device gets the very best out of the available space (around 5.8 inches), so you get a screen that can present a bigger selection of information.
A trader will understand our point here. Attempt to look at charts on a less vibrant and smaller screen and you’re likely to miss the vital information. Chart analysis needs the best display possible too.
Some phones do try to deliver a vibrant, rich display, but they still do it on screens that don’t offer a larger view. The S9 manages both richness of display and a large-sized view. It’s a perfect smartphone for someone who needs the full picture on the go.
Speed-wise, it’s as capable of quickly processing financial data as the next smartphone on our list, which you may have heard of…
Apple iPhone X
The Apple rage of phones needs absolutely no introduction. While consumers have always loved them, in recent years the iphones have been nothing less than extraordinary. This constant focus on raising the bar has made the iPhone a true classic.
But what’s it like when you’re trading?
It’s key feature is similar to what the Samsung model offers in that it gives you a huge amount of screen space. There’s pretty much nothing on the front to get in the way of the screen, so again, with charts and numbers you’re getting a great service. While it’s not incredibly big, it’s covered.
Speed-wise, we found it easily up to par with the Samsung S9 models, and that means quick data and a fluid feel as you zip around applications and Web pages. But the real winner for this smartphone is the battery life.
If you’re reasonably sensible with it, you can get up to 10 hours of battery. Whichever way you look at it, that means a good level of support for the day trader, for example. And with that speed too, you’ve got the perfect trading partner.
If you’re on a budget…
This is an undiscovered gem, and we’re impressed with the functionality and suitability for trading. At the same time, it’s not extortionate when it comes to price.
Perfect for the trader who wants a second phone just for the purpose of trading (a concept that actually makes perfect sense when you think about it), the OnePlus 6 has a lovely, bright and huge screen at 6 inches plus. The best thing about it is the fact it reaches the very edge of the front of the smartphone. So you get maximum value out of the screen, without the compromise a budget device often makes.
Speed-wise, you’re sacrificing processing power with a smartphone that is built for a budget, but it really is perfect for that second model.
And the rest…
Recent smartphones have been stunning, but if you remember our list of preferences back at the beginning of this piece, you’ll know that there are still some aspects a good trading device needs. We think the following are worth your consideration.
It’s had seemingly a million updates and iterations, but the commercial models that have come out in recent months have been nothing short of staggering. The downside comes with the screen, with the best of the series still not quite reaching the edge.
The phones are quite speedy though, and we recommend them as an option, with the top-end models coming up as a midway point between the OnePlus and the Samsung and Apple models.
Battery life is a key point here, with the phone easily managing a full day.
Google Pixel XL
The search giant’s phones are still babies in the market, but this one is a great choice if you’re looking for mid-range prices.
Battery life is exceptional, with over a day possible. If you’re scanning charts for hours on end, this could definitely work in your favour. The phone is 5.5inches, with around 70% of that size devoted to the screen.
A good choice, and even the older versions (the 2016 model, for example) pack a lot of speed into the game. And with a new version about to be released, you can expect the price to go down again.