CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.00% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
The number of people using trading apps exceeded 150 million in 2021 and has grown since then. With advancements in technology and easy access to research, retail traders find the financial markets even more accessible today. Trading the global financial markets is now at their fingertips, thanks to smartphones. Mobile trading is a doorway into the world of opportunities presented by financial markets and can enable traders to quickly check their portfolio and make decisions on the go.
Here are a few reasons to begin your journey into the financial markets with mobile trading:
The digital-first world is accustomed to mobile apps. A trading app is simply another application, different only in the activity you do with it. There is no learning curve, as Millennials and Gen Zs are comfortable with smartphones. Trading apps today have intuitive interfaces that are simple to use, customisable to your preferences, and offer all trading platforms and tools that are available on any other device.
To start trading with a mobile app, you don’t need to buy a powerful computer. You already have a smartphone that is connected to the internet. You can begin trading with it.
Market updates, calendar events, news updates, and trading signals are all just a swipe away. The facility to enable updates, notifications and reminders eliminates the need to constantly monitor the markets. Whether you are on your daily commute, chilling with your friends, or focused on work, a mobile app can effortlessly fit trading into your schedule.
It’s all about timing when it comes to the financial markets. Mobile trading platforms may significantly reduce the time taken to execute a trade. It’s easy to directly open or close a position from an update or a notification dialog box.
Mobile apps come with biometric unlocking. So, you can easily access your portfolio status or transaction details at any time, with safety. You can track your performance and view your trading history in seconds.
The leading brokerages provide mobile applications and all the features of the trading platform. Additionally in some cases, brokerage fees and minimum margin required for leveraged trading are lower when trading on a mobile app.
Mobile trading is well-integrated with diverse payment methods that facilitate real-time money transfers through the trader’s preferred gateway.
With advancements in technology, tools that aid decision making have increased exponentially. There are a host of plug-and-play tools that are easy to integrate with mobile trading and are available in form of in-app purchases or independent modules.
The digital revolution in the brokerage industry has facilitated trading with access to all financial instruments and trading signals in a single place. It has also accelerated the opening and closing positions for traders even when on the move. However, it has certain limitations:
A beginner can start by downloading a mobile trading app that allows practising on a demo account before entering the live markets. This way, they can get accustomed to the app and build a trading strategy that works for them. Traders should thoroughly understand the terms and conditions, hidden costs, or limitations of the app they choose. Check the app testimonials and try to find if it has payment issues or has delayed updates, a common problem among many mobile apps that may have catastrophic results in live financial markets. Additionally choose a platform with similar mobile and web trading interfaces. This enables the flexibility of switching between the two at your convenience.
Choose a trading platform by doing some research, checking customer feedback, and assessing whether the app serves your trading requirements. If you have found one, simply download the app, and create an account with your login credentials. Customer verification with digital signatures and biometric sign-ups has made the account opening experience hassle-free and super-fast. You are now ready to make the most of the opportunities mobile trading offers.
Disclaimer:
All data, information and materials are published and provided “as is” solely for informational purposes only, and is not intended nor should be considered, in any way, as investment advice, recommendations, and/or suggestions for performing any actions with financial instruments. The information and opinions presented do not take into account any particular individual’s investment objectives, financial situation or needs, and hence does not constitute as advice or a recommendation with respect to any investment product. All investors should seek advice from certified financial advisors based on their unique situation before making any investment decisions in accordance to their personal risk appetite. Blackwell Global endeavours to ensure that the information provided is complete and correct, but make no representation as to the actuality, accuracy or completeness of the information. Information, data and opinions may change without notice and Blackwell Global is not obliged to update on the changes. The opinions and views expressed are solely those of the authors and analysts and do not necessarily represent that of Blackwell Global or its management, shareholders, and affiliates. Any projections or views of the market provided may not prove to be accurate. Past performance is not necessarily indicative of future performance. Blackwell Global assumes no liability for any loss arising directly or indirectly from use of or reliance on such information herein contained. Reproduction of this information, in whole or in part, is not permitted.
