Mobile trading simply means having the ability to trade using wireless technology. This allows anyone who wants to invest in trading securities to do so from their mobile phones or laptops. This mobile technology allows easy access to any investor who wants to manage their portfolio without being tied to an office.
Additionally, when the office is closed at the weekends, it is possible to still keep on top of fluctuating stocks and shares prices.
The ability to trade and access client information via a portable device is fast becoming a trend for self employed traders. Understandably brokers now have many online resources devoted to the development of mobile applications. Although the growth of mobile trading platforms may not match the growth of other social media sites, they remain a popular option among brokers and traders.
While many brokers have utilised mobile apps over the years, there is plenty of room for improvement in this sector. While in previous years investing consisted of viewing a portfolio and placing trades, now they believe that the future means using advanced tools to enhance the trading experience including advanced ordering, complex options, screenings, chartings, and syncing.
While it is possible to check the performance of stock using Blackberry and iPhones, there are many mobile apps which allow the user to access online trading platforms, and execute trades from anywhere, and at any time.
What makes a good mobile trading app?
There are several important features to look for before downloading and installing your mobile trading app.
Make sure that the app is able to be customized to your trading styles and preferences. You should be able to do research on any trade before committing to it.
A good app will have a section where you can ask advice and questions. Transferring funds should be an uncomplicated affair, and market alerts should be an option to let you know when the time is right to buy or sell.
Choose an app where educational videos are available, as sometimes it is easier to learn while watching. The best apps will be filled with charts and details, and come with technical indicators. There should be a method of analyses to help you make your trade decisions.
Transferring of funds should be via a reputable method such as PayPal or bank transfer. Sometimes you can trade with cryptocurrency if you so choose, and also commodities and stocks.
Look for an app that offers real-time tracking of any investments you make. 24-hour withdrawal is an added bonus.
One of the most important features of an online trading app is the negative balance protection, which ensures that you can never lose more money than you invest.
How do I start Mobile Trading?
Normally a trader will start his search for a mobile trading app by using a reliable search engine. This will point him in the right direction of literally hundreds of trading platforms.
Once you have found the app of your choice, you should download and install it, fund it, and start your research into the stock market. Make sure you have a good knowledge of any stocks you intend to buy. Start slowly by picking only one or two stocks and use only money that you are prepared to lose. Any gains can be used to buy additional stock.
No broker has completely cracked the code for the best mobile app, each trader has their own preferences and needs. While there are many online mobile trading apps to choose from, we would suggest that you check out ETNA mobile trading app.