The past few years have seen a significant acceleration in the development of technology, especially in the field of digital communication. With the advancement of mobile devices and tech is seen in practically all avenues of our lives, their role in the world of trading has grown noticeably too. When it comes to online trading in India, the country is considered one of the fastest-growing markets in this medium of trading. The contribution of mobile trading is increasing steadily, propelled forward by affordable internet plans and smartphone devices and a surge in mobile trading apps. One of the major plus points is the accessibility to online mobile trading from anywhere in the county, and the resulting empowerment for people from all walks of life. Because of such advantages, mobile trading has altered traditional trading practices in several ways.
The following list points out the aspects of mobile trading that are transforming the face of online trading:
1. A one-stop solution for all trading and investment
Mobile trading apps have made it extremely easy to trade in commodities, cash, future and options and so on, all in one place. You could also invest in bonds or mutual funds via these apps.
2. Lower brokerage charges
Mobile apps are a strong competitor against call-in trades; the lower brokerage charges for a mobile platform with multiple features can beat traditional trading’s limitations around time, connectivity and higher brokerage charges.Thats one of the major difference between online trading and offline trading. The rates also compete aggressively with those charged by online web-based platforms. Smaller traders, in particular, may prefer to save on brokerage, and opt for the ease of use and affordability of mobile trading.
3. Transferring funds made easy
Because of the useful mobile banking feature, trading apps are able to facilitate the transfer of funds quickly and effortlessly. For users who have a smartphone, an internet connection and the trading app, a lack of access to funds becomes a non-issue.
4. Additional benefits
Mobile trading apps can also stream quotes of scrips live, and provide the user with financial information of specific companies, thus making accessing data in real-time a smooth sailing process. Previously, traders would have to rely on a terminal or system for getting this data.
By removing time and geographical limitations and increasing transparency of the capital market, online mobile trading has opened up the scope of trading all across the nation. Any person, regardless of their occupation, economic background, time constraints or location, can participate in trading due to how affordable, time-efficient and widespread the reach of mobile trading is. In this domain time is priceless and opportunities can come and go in the blink of an eye. Accessibility is a prominent factor and with mobile technology, trading is now at our fingertips. Mobile trading will surely give the next generation of traders a competitive edge in the coming years.