Earlier, electronic stock trading was limited to dedicated computer terminals. However, it posed a huge problem for people who had to travel or for those who didn’t have a computer or a laptop with them. However, with the introduction of mobile trading and the fact that almost the entire country has access to mobile internet and smartphones, all of that has changed. Now stock trading is not limited to only a certain group of people. It has been democratized.
To facilitate trading in smartphones, almost all stockbrokers in India have come out with their own mobile trading apps and have also optimized their trading portal to work on mobile web browsers seamlessly. Taking this into consideration, should you also jump into the mobile trading bandwagon? If this question is something that you wish you had an answer for, this article may just be able to give you one.
- Should you begin trading on your smartphone?
Before we get to see if you should begin using an online trading app on your smartphone, let’s quickly go through the various benefits that you get to enjoy by adopting mobile trading.
1. Affordable
One of the primary advantages of using a mobile trading app is that it helps you save costs. All it needs is a smartphone and an internet plan, both of which are very affordable these days. You don’t have to invest in a computer or a laptop and a dedicated internet connection to get started with mobile trading.
2. Quick and easy access to the markets
If you’re someone who travels quite often or commutes to work everyday, you would probably know how hard it is to access the stock market while you’re on the move. However, with an online trading app, you can finally put those concerns to rest. As long as you’re connected to the internet, you can monitor the stock market and place orders even when you’re traveling.
3. User friendly
Almost all mobile trading apps are simple and easy to understand. The interface is clean, clutter-free, and user friendly. This brings down the learning curve significantly, allowing almost anybody to start trading within just a few minutes.
4. Swift order placement
Placing orders while trading in smartphones is extremely easy. All it takes is just a few taps to buy or sell a stock. You can comprehensively lessen the time taken to execute a trade by simply opting to use an online trading app.
This list of benefits of mobile trading is merely illustrative and not exhaustive. And as you can see from the above, you get several advantages by using your mobile phone to trade.
Now coming back to the question, the answer is yes. You should absolutely start trading on your smartphones. That said, using mobile trading apps may be fine if you’re into casual trading. However, if you’re into serious trading or you’re planning to take up stock trading as a profession, then you may have to consider investing in a computer and a dedicated internet connection.
Conclusion
So, now that you’ve seen just how mobile trading can be beneficial to you, go ahead and give it a try. That said, if you’re interested in starting trading in smartphones, but don’t own a demat account yet, get in touch with Motilal Oswal right away. You can open an online demat account within minutes for free.
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