Brokers With Smart Watch Apps
As smart watches become increasingly popular, many brokers have introduced apps which enable their clients to monitor their portfolios and even execute trades. Read on for a guide to trading on your smart watch, including the key factors to consider when you buy, and instructions for getting started. We also list the best trading brokers with smart watch apps in 2024.
Top Brokers With Smart Watch Apps
Only a few brokers offer trading on smart watch apps. These are the 4 best brokers with smart watch app support:
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1
IGForex trading involves risk. Losses can exceed deposits.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.01 Lots1:30 (Retail), 1:250 (Pro)FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOBCFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread BettingWeb, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentralPayPal, Wire Transfer, Mastercard, Credit Card, Visa, Debit CardUSD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD -
2
Interactive Brokers
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$0$1001:50FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMAStocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, CryptocurrenciesTrader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentralCheque, ACH Transfer, Wire Transfer, Automated Customer Account Transfer Service, TransferWise, Debit CardUSD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF -
3
Personal Capital
$1 (Cash), $100,000 (Robo Advisor)VariableSECStocks, ETFs, Mutual Funds, Fixed IncomeOwnWire TransferUSD -
4
Empower
$1 (Cash), $100,000 (Robo Advisor)VariableSEC, FINRAStocks, ETFs, Mutual Funds, Fixed IncomeOwnWire TransferUSD
This is why we think these brokers are the best in this category:
- IG - Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
- Interactive Brokers - Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
- Personal Capital - Empower (formerly Personal Capital) is a popular, SEC-regulated US financial advisory and investment platform that offers pensions, ready-made investment plans and do-it-yourself, commission-free investing through a large range of mutual funds, ETFs, individual equities and fixed-income securities. The broker has an impressive 3.4 million clients.
- Empower - Empower, previously Personal Capital, is a US-based and SEC-regulated trading platform and advisory firm. Clients can access pensions, robo-advisors and do-it-yourself investing in stocks, mutual funds, fixed-income products and ETFs. Millions of clients trust Empower with their long-term investments, attracted by the suite of free financial planning tools and excellent reputation.
IG
"IG continues to provide a comprehensive package with an intuitive web platform and best-in-class education for beginners, plus advanced charting tools, real-time data, and fast execution speeds for experienced day traders."
Christian Harris, Reviewer
IG Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting |
| Regulator | FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB |
| Platforms | Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral |
| Minimum Deposit | $0 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:30 (Retail), 1:250 (Pro) |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD |
Pros
- The ProRealTime advanced charting platform is free as long as certain modest monthly trading activity requirements are met
- The proprietary web-based platform continues to caters to traders of all levels, with advanced charting tools and real-time market data useful for day trading
- The IG app offers a superb mobile trading experience with a clean design that helped it secure Runner Up at our Best Trading App award
Cons
- IG has discontinued its swap-free account, reducing its appeal to Islamic traders
- IG applies an inactivity fee of $12 per month after 2 years, deterring casual investors
- Stock and CFD spreads still trail the cheapest brokers like CMC Markets based on tests
Interactive Brokers
"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."
Interactive Brokers Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies |
| Regulator | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA |
| Platforms | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral |
| Minimum Deposit | $0 |
| Minimum Trade | $100 |
| Leverage | 1:50 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF |
Pros
- There's a vast library of free or paid third-party research subscriptions catering to all types of traders, plus you can enjoy commission reimbursements from IBKR if you subscribe to Toggle AI.
- With low commissions, tight spreads and a transparent fee structure, IBKR delivers a cost-effective environment for short-term traders.
- The TWS platform has clearly been built for intermediate and advanced traders and comes with over 100 order types and a reliable real-time market data feed that rarely goes offline.
Cons
- TWS’s learning curve is steep, and beginners may find it challenging to navigate the platform and understand all the features. Plus500's web platform is much better suited to new traders.
- You can only have one active session per account, so you can’t have your desktop program and mobile app running simultaneously, making for a sometimes frustrating trading experience.
- IBKR provides a wide range of research tools, but their distribution across trading platforms and the web-based 'Account Management' page lacks consistency, leading to a confusing user experience.
Personal Capital
"Personal Capital (now Empower) is a great option for investors seeking a flexible way to build an investment portfolio or pension plan. It is a particularly good fit for US traders owing to the SEC oversight."
Personal Capital Quick Facts
| Demo Account | No |
|---|---|
| Instruments | Stocks, ETFs, Mutual Funds, Fixed Income |
| Regulator | SEC |
| Platforms | Own |
| Minimum Deposit | $1 (Cash), $100,000 (Robo Advisor) |
| Minimum Trade | Variable |
| Account Currencies | USD |
Pros
- Well-known and popular investing platform
- Segregated client funds with a top-tier custodian bank
- Strong regulatory oversight from SEC
Cons
- An annual advisory fee of 0.89%
- US residents only
- No forex, futures or cryptocurrencies
Empower
"Empower is best for hands-off investors looking for a US-regulated platform and robo-advisor with free financial planning services. However, investors need to be willing to make a large minimum investment and pay higher than average fees for premium services."
Empower Quick Facts
| Demo Account | No |
|---|---|
| Instruments | Stocks, ETFs, Mutual Funds, Fixed Income |
| Regulator | SEC, FINRA |
| Platforms | Own |
| Minimum Deposit | $1 (Cash), $100,000 (Robo Advisor) |
| Minimum Trade | Variable |
| Account Currencies | USD |
Pros
- Award-winning customer support team
- Robo-advisor service with pre-built portfolios and investment strategies
- Beginner-friendly financial dashboard with customizable widgets
Cons
- No demo account for prospective users
- Limited choice of payment methods with only wire transfer
- 0.49% - 0.89% management fees are high vs alternatives
How To Use Smart Watches For Trading
Monitoring Markets
It is easy to monitor stock markets, for example, with your smart watch. Trading apps offer a straightforward way to view one or two stock tickers at a time, alongside limited market information.
For example, you can monitor the current price and the current trend line indicated either by red, showing bearish movement, or green, showing bullish movement.
Brokerages such as IG, Interactive Brokers and Robinhood provide smart watch apps that enable customers to monitor orders and open positions.
Receiving Alerts
There are several apps for your smart watch which can provide trade alerts. Apps such as WatchAlert by Modulus allow users to monitor their portfolio by setting up automatic notifications when stocks meet certain conditions.
Importantly, however, these apps are not necessarily connected to an exchange account, so you would need to open up your broker’s platform on your phone, tablet or computer to execute a trade.
Making Trades
Certain brokers like IG facilitate trading on a smart watch. These smart watch apps offer the same functionality as mobile apps, meaning traders can easily view shortlisted markets and open or close positions with just a swipe.
These apps still require your smart watch to be connected to your phone in order to process the trades. Therefore, the main benefit of using these smart watch trading apps is the decrease in time taken between receiving an alert and executing the subsequent trade.
Pros Of Brokers With Smart Watch Apps
- Trades are even more accessible than your mobile phone
- Facilitate quick responses to stock alerts
- Many brands and sizes to choose from
- Easy to monitor portfolios
Cons Of Brokers With Smart Watch Apps
- Limited features compared to trading with phones, tablets or computers
- Relatively expensive as most watches cost hundreds of dollars
- Few brokers enable trade execution with a smart watch
Trading On A Smart Watch
History
Smart watches have been in production for several decades. Early smart watches such as the Epson RC-20 and the Timex Datalink had very limited functionality and could only display basic information like memos and appointments.
The first smart watch that could receive stock updates was the Microsoft SPOT, created in 2004. However, it wasn’t until the launch of Pebble in 2012 that smart watch technology began to rapidly develop.
In 2013 Samsung launched its first smart watch, the Galaxy Gear. Apple quickly followed suit, launching the Series 0 in 2015. Since then, smart watches have become increasingly popular, with over 127 million units sold in 2021 alone.
Additionally, smart watch technology has been developed to serve multiple purposes. For example, some watches can accurately monitor your blood pressure and heart rate, provide GPS tracking, and even use near-field communication (NFC) for contactless payments. More recently, smart watches have been developed to enable you to trade while you’re on the move.
Smart Watch Brands
Below are some of the best brands for trading on a smart watch. Note that this is not an exhaustive list, and there are other brands such as Motorola, Fitbit, Lenovo, G Shock, OnePlus, Xiaomi and Michael Kors, who also produce smart watches.
Apple
Apple is currently the most popular smart watch brand in the world. There are three Apple smart watch models in production: the Series 7, the SE and the Series 3, ranging in size from 38mm to just under 46mm. While you are limited to only downloading apps via the Apple App Store, the proprietary Apple Stocks app is well-designed and perfect for keeping track of market information.
Bear in mind that Apple smart watches are only compatible with other iOS devices such as iPhones, iPads, Mac computers and laptops.
Samsung
Samsung, the South Korea-based electronics company, has the second-largest market share for smart watches. They offer a range of watches in their Galaxy line, including the flagship Watch 4 model. Apps for trading on a Samsung smart watch are downloadable via the Google Play Store or the Galaxy Store.
Samsung smart watches are only compatible with Android phones.
Fossil
Fossil is a well-known brand that creates reliable smart watches. The flagship model, the Gen 6, is available in both 42mm and 44mm display sizes.
While it runs Google Wear OS, the smart watch is compatible with both Android and iOS devices. This makes the Fossil Gen 6 a viable alternative for those with either iPhones or Samsung mobile devices.
How To Compare Smart Watches
When comparing different smart watches you can use for trading, consider the following factors:
Connectivity
Your smart watch must have an internet connection and Bluetooth capabilities to be used for trading. Look out for smart watches that have 4G, 5G or LTE connections so that you can still access stock information without needing Wi-Fi access.
If you are day trading, real-time updates are important to capitalize on short-term swings. If your smart watch doesn’t have an internet connection, notifications may be delayed and you could miss a good trading opportunity.
Operating System
As your smart watch needs to be connected to your phone or tablet, you must ensure that they are compatible with each other. The Garmin Venu 2 Plus, for example, is compatible with both iPhone and Android devices, whereas the Samsung Galaxy Watch 4 cannot be used with iOS or certain Huawei phones.
Moreover, many apps are restricted to particular operating systems. For instance, the IG Group smart watch trading app only works on Apple’s “Wear OS” rather than the Android “Watch OS.”
Cost
It is best to have a budget in mind when searching for a smart watch. Fortunately, it is possible to find a high-quality smart watch whatever you are willing to spend. Flagship models will typically cost several hundred dollars, for example, the Apple Watch Series 7 which costs $399. However, it is possible to find good watches for less. Older models like the Apple Watch Series 3 are available for $199. What’s more, retailers will often run promotional schemes, so make sure that you research the latest discounts and deals before you commit to buying any watch.
Battery
Battery life is important for accessing the market throughout the day. The key objective of trading using a smart watch is to have constant access to the markets while on the go. If the battery only lasts for half a day, you could miss out on trading opportunities. Your watch battery should last at least an entire day, in order for you to be able to recharge the watch battery while you sleep.
Some of the best watches such as the Amazfit GTR 3 Pro and the Fitbit Versa 3 have batteries that last for several days.
Display Size
The optimal smart watch display size is down to personal preference. But the larger the display, the easier it is to see stock and market information. Of course, some traders might find a large watch to be clunky and uncomfortable.
Smart watches come in sizes ranging from under 40mm to over 50mm such as the Casio PRT-B50. It could be worth visiting a store in person to test out different watch sizes and find out what you prefer.
Customer Reviews
It can be hard to tell how good a smart watch is for trading just by reading the product description. Customer reviews will often give you a better idea of how suitable the watch is for reading stock market information, setting up alerts or even making trades.
You can see customer reviews on the app store or on websites such as Reddit, Facebook and YouTube.
How To Setup Trading On Your Smart Watch
To set up your smart phone watch, you should first read the user manual. Trading on a smart watch requires a connection to a mobile, so you should also read the mobile user guide.
There are many tutorial videos online which can assist you with connecting the smart watch to your phone. It is sometimes possible to use a QR code to connect the two devices, however this is only available to customers with an AT&T or Verizon SIM.
For Apple
- Using the Apple Watch, press the crown button to view the home screen and tap the App Store icon
- In the search bar, use the keyboard to type or say the app’s name
- Select the app that you wish to download, tap the “GET” button and double-press the crown button to begin the installation
- Using your iPhone, open the Watch app on your phone and select “My Watch”
- Select the app you want to install from the list of available apps
- Press the “Install” button
For Android
- On your Smart Watch, navigate to the Play Store
- Tap “Search” and either say the name of the app or type it into the search bar
- Tap the install button next to the app you wish to download
- On your mobile device, open the Play Store app
- Go to the Watch app or Watch faces category
- Choose the app that you wish to download and press install
Final Word On Brokers With Smart Watch Apps
A smart watch can be a helpful additional resource for traders. While smart watches offer a great way to view concise, live stock information, their limited features mean that they cannot be used as the main device for trading.
The best way to use a smart watch for day trading is to set up alerts so that you can quickly make a trade using your computer, mobile phone or tablet. And while there are not many brokers that currently support trade execution via smart watches, this will likely change in the future.
Check out our list of brokers with smart watch apps to start trading today.
FAQs
What Happens If The Apps For Trading On My Smart Watch Stop Working?
If you encounter issues with trading on your smart watch, you should contact the customer support team for both your watch provider and the broker itself. You may need to speak to both teams to identify the issue and find a solution.
In most cases, it should be easy to find an answer to your question, as most brands and brokers will provide multilingual customer support. IG Group, for example, has offices across the globe in countries such as Japan and China.
Are There Geographical Restrictions To Trading On My Smart Watch?
Smart watches for trading can be bought and used in any country across the globe. Whether you are based in Nepal, Kuwait, Ireland or Canada, there are suitable watches you can purchase.
Geographical restrictions are more likely to apply to specific brokers or apps. For example, IG Group does not accommodate traders based in Egypt, India, New Zealand (NZ), Malaysia and Qatar.
How Can I View Stocks For Trading On My Apple Smart Watch?
The Apple Watch has a pre-downloaded Stocks app. You can easily search for the stocks app by typing on the keyboard, using the “Scribble” function or saying the ticker’s name into your watch.
Where Can I Buy A Smart Watch For Trading?
There are many retailers globally that sell smart watches you can use for trading. For example, you can purchase smart watches from mobile phone carriers such as Vodafone, T Mobile and Verizon. Additionally, you can purchase smart watches online from retailers such as Amazon, Argos, BestBuy, John Lewis, Target and Flipkart and Currys.
If purchasing a brand new smart watch is too expensive, you can often find second-hand watches on eBay.
Which Smart Watch Is Better: Apple Watch or Fitbit?
Both brands produce high-quality smart watches, however, Apple’s smart watch is the only one that supports trading. With a Fitbit smart watch you can only download apps available in the Fitbit Gallery, which means that you do not have access to stock and trading apps in the Google Play Store or Galaxy Store.