Historically, trading was only done on a PC with traders chained to their screens on particularly volatile days. That’s all in the past as it’s now possible to trade using mobile technology and apps.
This has completely transformed the trading experience and opened up new possibilities. But is there a reason beyond sheer convenience that’s driving the popularity of mobile trading apps? Here’s a look at some of the reasons use continues to climb.
1. Simplified Experience
Mobile apps are not designed to be crammed full of useless information. Developers know that users will be looking at a smaller screen and may not have the time or inclination to scroll through vast swathes of data.
This means that if you’re looking for trading or spread betting made simple, you won’t find a better route. With all the information you need clearly set out, without being engulfed by a vast page of text, mobile apps offer a cleaner interface that is much easier to follow.
2. Keep Up With Markets
There can be significant volatility in the market, and if you don’t respond quickly, you could find you either have to swallow massive losses, or you miss out on a great opportunity. For most people, it’s not possible to monitor open trades in front of a computer screen all day and night, so mobile apps fill in the gap.
Using an app means you can log on and open and close positions whenever you need to. It is particularly crucial for spread betting, CFDs and similar because of the potential for losses to expand. Mobile apps provide an element of protection and ensure you can always track what’s going on and respond.
3. Round the Clock Trading
Trading is an international affair, and there’s always a market open somewhere in the world. Investors often have a diverse portfolio; this is an excellent strategy to balance risk. However, it means that they may have their fingers in more than just the UK market.
It’s not always convenient to fire up the laptop or PC just to see what’s happening. Using an app allows you to follow what’s going on at any time of the day or night, without massive inconvenience.
5. Trusted Names
There are a few trading platforms that have almost universal appeal and are used widely by brokers. These platforms include MT4 and MT5.
The quality of a platform and the ease of navigation can make a difference as if you can’t move quickly when necessary; you could end up out of pocket. For this reason, many investors prefer to stick to names that they trust.
It’s possible to access the MetaTrader platform via mobile apps giving investors the best of both worlds: a name they trust plus the convenience of mobile technology.
6. Better Technology
The appetite for using trading apps has been around for a long time. But in the past, the technology simply wasn’t up to the job. Difficult to use, laggy and lacking tight security, most traders found apps to be a hindrance rather than a help.
Fast-forward to the modern-day and technology has caught up with demand. Even big companies executing large trades authorize the use of mobile apps because it’s become commonplace.
The improvements in mobile tech have been so dramatic that it’s now even possible to use a smartwatch trading app.