Internet usage on mobile devices including smartphones and tablets has exploded over the last 7 years. In fact, for the first time ever, last year internet usage on mobile devices overtook internet usage on desktop computers.
Alongside this growth, we've seen niche sectors taking off, including a rise in mobile trading. The financial markets are now more accessible than ever with a massive array of different trading related apps and brokerage services for mobile devices.
In this article, we are going to outline 5 benefits that mobile trading has to offer and why utilising this technology could benefit both your trading performance and quality of life.
1 - Cross platform Access
Most brokers will now have mobile apps available with share trading software that works seamlessly across different devices. This means that once you have created an account it’s just a case of logging in on your chosen device and you will get instant access to the same custom trading tools, portfolios and watchlists.
Any actions you take like removing a stock from your watchlist or placing a new trade will be instantly visible if you log in on a different device.
2 - Improve your social life
Trading has been known for being a bit of a lonely business. This has certainly been the case historically for private investors as technology has dictated the need to be sat in front of a computer screen at your home or office.
Mobile trading makes it so much easier to get out and enjoy a healthy social life whilst still being able to execute your trading strategy. You no longer need to be afraid to leave the house in order to monitor or implement your trades.
3 - Research on the go
Whether it’s analysing charts, updating watchlists or reading the latest news release for a stock, this is now all possible to do whilst on the go. This could be utilising the spare time you have on public transport, during lunch breaks or even sat at the beach whilst on holiday.
4 - Never miss an opportunity
If you are like most people then you have at least 1 mobile device that stays with you 24/7. This also means you have 24/7 access to the financial markets so no matter what time it is or where you are you never have to miss a trading opportunity.
5 - Utilise different strategies
The accessibility of mobile trading allows you to implement trading strategies that may not have been possible to you otherwise. You can now fully focus on creating the most profitable trading strategy rather than a strategy that fits around the market access you have.
Mobile trading summary
Mobile trading should not be viewed as a way of replacing other ways of trading. Trading on a desktop computer has some obvious benefits not available to mobile devices like the use of multiple large screen monitors.
Mobile trading is an addition to the other trading options that offers it own unique benefits and should be utilised in a way to help make you the most successful trader you can be.
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