The advancement in technology has touched every area of our lives. Investments and stock market trading are no exception. There was a time when one had to sit next to a landline phone or at the broker’s office to monitor the market and place a trade. Times changed and two decades ago, brokerages started trading websites.
More recently, all large trading houses have started offering online mobile trading apps. Mobile apps have revolutionised the demat and online trading process.
During the pandemic a record number of first time investors opened demat and trading accounts and entered the markets using mobile apps. Let us see what are the benefits mobile trading applications offer.
Anytime, Anywhere Trading:
With a mobile app, you can be anywhere, at your office, the market or in travel, and still invest or trade in your favourite stocks. There is no need of a laptop or desktop, your mobile trading app in your pocket enables you to trade within seconds from any location as long as you have an internet connected mobile device.
Mobile Apps show real time market data within fraction of a second. You can view market movements and quickly make a decision without any delay. There is no need to call a broker to check stock price movement, the decision is taken on immediate basis and gives you better control.
Similarly, you can track your investments, monitor your portfolio, view reports at any time. The reports are qualitative as well as quantitative. You can view your portfolio analysis, charts and return variables that you need not calculate manually. It saves a lot of precious time and effort for the investor.
Easy to Use:
Trading often seems complicated to a nee investor and one can get lost in new terms and data. However, the interface of a mobile app is simple and easy to use. You can navigate the app with ease, check your investments, place trades, invest in SIPs, mutual funds, bonds, transfer funds quickly, without any external assistance. The process is simple to understand and navigate.
The new age mobile trading apps offer very low costs on trading as well as other charges like maintenance costs compared to traditional trading. Those who trade frequently and have higher trading volumes and value can negotiate better rates with the service provider.
No Human Interface:
With mobile trading apps the is no involvement of a broker. You do not need to visit the branch to open a trading account these days. Account opening is carried out online or with help of a representative visiting your place. Once the app is active, you can transact seamlessly, place trades, view and monitor your portfolio and keep track of market events, all on your own. Since all the trades are placed by the investor, the margin of error is nil. It saves a huge amount of time for the investor.
Even for servicing, there are chatbots, online and telephonic assistance available. If you are a busy executive with no time to call a broker in market hours, mobile trading apps make your life simple with online share trading, paperless trading and delivery of shares.
Safe and Secure:
Mobile trading apps use multiple high level safety measures, encryptions and multi-step verifications every time you login. For every transaction there are alerts sent to your phone and email. The technology today ensures that your data is secure and protected from hackers and digital breach.
Research and Information:
Best mobile trading apps not only provide a trading platform but also provide a wealth of information in the form of research reports, knowledge tools, stock and market specific information on daily basis. The apps are a great tool to enhance and build your knowledge and experience over a period of time without depending on multiple sources or brokers. You also get a distilled information in the form of a short analysis, charts and graphs based on which you can take quick decisions without wasting time.
Thus, a mobile trading app makes it easy to dabble in stocks, build your knowledge, save precious time and earn the best returns on your money. For more information on opening a trading account, contact ________