Know the Key benefits and limitations of Mobile Trading apps
With the advent of technology, we are now seeing online platforms gaining traction in the world of finance. Website portals and online trading apps have vastly increased accessibility to the stock market. A new mobile trading app is introduced almost every month and a slew of new investors and traders has entered the market. People can now start trading on their smartphones, which has led to an uptick in institutional as well as retail clients. Thanks to share market apps, stock trading is at your fingertips with user-friendly interfaces and 24x7 accessibility. However, the transition from desktop terminals or other trading systems to on-the-go trading or mobile investing apps has not been entirely flawless. Read on to know more about the key benefits and limitations of mobile trading apps.
- Key Benefits of Mobile Trading Apps:
- Ease of use: Orders can be placed quickly and effortlessly on mobile trading apps. The ease of use is much greater in comparison to desktop terminals.
- Live portfolio review and market updates: Using a mobile trading app, you can view market data such as shares, commodities, stock indices, etc on the go at all times. You can also keep track of your portfolio, its underlying assets and performance so far.
- Notification feature: One of the winning features of share market apps is the notification feature. No matter where you are, the app will send you alerts to notify you about the latest events in your portfolio as well as broker recommendations.
- Related news updates: Users can also track live updates on developments related to a particular stock or segment on online trading apps.
- Research reports: Trading apps also offer insight from experts or brokerage firms in the form of the up-to-date research reports.
- Analysis and charts: One of the most useful trading app features is the historical charts and analysis facility that allows you to look at previous indices data, stock prices and provides analytical tools for the same.
- Key limitations of Mobile Trading Apps
1. Limited access: Several mobile trading apps only have restricted access to the market, which can present hurdles such as limited availability of international stock indices data, currency, or derivative products.
2. Smaller screen display: The screen size can be quite inconvenient for users. This greatly limits the amount of data that can be presented on the screen, and users may miss certain details. However, larger screens on mobile devices such as tablets are helping combat this issue.
3. Connectivity: Mobile connectivity, while widespread, does not have total coverage in India. In remote regions connectivity disturbances are common, and this may lead to losses during order placements.
4. Slower speeds: While high-end mobile devices may have great processing speeds, budget devices typically cannot keep up with them. This can lead to technical issues and can cause disruptions or delays while placing an order.
Conclusion
Nowadays, nearly every brokerage firm is offering its own online trading application. The growth of mobile apps is undeniable and unstoppable. Some apps are even attempting artificial intelligence integration, and various new features are being added to such apps. The efficiency, ease-0f-use, flexibility, security and increased accessibility have made mobile trading a preferred choice for many. While it may take some time to fully integrate trading features into a mobile app, the future of trading may well be entirely mobile. If you wish to enter stock market online trading, ensure that you trade only through a trusted application.
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