Trading is now more accessible than ever. From the transition to online trading to being able to access trading through mobile devices, it’s evident how the trading industry has improved.
Before, trading is done on Wall Street where people need to be in the same area. But now, you can trade in the comfort of your home, or anywhere you prefer. However, although the use of mobile devices has been popular in recent years, there are still traders who are hesitant to use them.
In this article, we’ll discuss the reasons why you should try mobile trading.
1. It’s convenient to use
Nowadays, most trading platforms also offer mobile applications where you can check your trades, which is called mobile trading. Since you can place orders and cheque trades anytime, anywhere, it’s more convenient.
However, it’s recommended to access your mobile trading app if you have stable internet. If your mobile data is weak, it’s best to look for another spot where you can continuously have internet access. Meanwhile, if you have a wireless connection, having access to your trading app isn’t a problem.
Usually, it’s convenient for people who have day jobs to opt for mobile trading since they can stay updated about the latest market conditions, whether they’re at the office or while travelling.
2. It offers real-time market information
Mobile trading platforms usually have updated information about the market. So, aside from your trading status, you can also be informed about real-time market information.
As with most mobile applications, mobile trading platforms also have push notifications and alerts to serve the information you need. Additionally, in case you need to make an important decision, you can act quickly once you receive an important notification.
For instance, if you’ve been dreading finding out what happened to something you’ve predetermined, waiting in front of the computer the whole day isn’t ideal. Instead, waiting for the mobile app while doing the rest of your tasks is better.
3. It’s flexible
Don’t underestimate the features of mobile trading. Usually, mobile trading platforms have the same features as the software on your desktop. For instance, you can trade a wide range of financial instruments, including, ETFs, stocks, bonds, indices, and derivative contracts just like what you can do with online trading on your computer.
As for risk management practises, some more advanced mobile trading allows traders to place various order types, such as limit orders or stop-loss. So, you can still manage your risks even if you’re trading via mobile.
4. It has a user-friendly interface
Advanced mobile trading apps have a user-friendly interface that works for beginners and professionals. If a trader is used to placing orders through the computer, it may take a while before they familiarise themselves with the mobile version. Fortunately, when you find a mobile trading platform with a user-friendly interface, the features are most likely to be the same as the desktop version.
5. It requires low cost
Similar to most mobile apps, the cost of mobile trading is lower than the fees from traditional online trading. So, when you opt for mobile trading, you can maximise your profit. In some cases, mobile trading is already included in the package when you avail of a trading account, so all you need to do is download the app and sign in with your existing account.
Meanwhile, if in case there are additional fees when availing of mobile trading, you should research the ideal pricing, and see whether your broker offers a competitive price.
6. It can help diversify your portfolio
One of the goals of a trader is to diversify their portfolio. And since most mobile trading platforms have the same features as the desktop version, it’s possible to find various investment options.
In addition, since it’s accessible no matter where you are and at any time of the day, portfolio diversification is possible. In addition, if you can diversify your portfolio using a mobile trading app, it can help with managing risks.
7. It has security features
Mobile devices encounter various risks from daily use. Thus, the need for a secure mobile trading app is essential. So, if you already have a trading platform, make sure that their mobile application is secured, and practise necessary precautions to protect their clients’ investments.
Aside from encrypted security, other essential security practises include two-factor authentication, biometrics, and security codes.
8. It comes with educational resources
Another feature you can access in most mobile trading apps is educational resources. As mentioned, investors should be aware of what’s happening in the financial market, especially the one they’re investing in.
You should be able to find real-time news, videos, blogs, and tutorials about mobile trading, and other relevant information.
Final Thoughts
Mobile trading has fundamentally transformed online investing into a more convenient and flexible way. In addition, you can access real-time updates, diversify your portfolio, navigate the app comfortably, and find education resources in just a simple app. So, whether you’re a beginner or a professional trader, you can find a lot of benefits from mobile trading.
