The biggest upside of online trading is that people can play the markets from anywhere in the globe, at any time. Traditionally, you had to call your broker to discuss trades first before placing them, which had some limitations like when a trader was travelling. Now, a vacation or business trip on the other side of the world doesn’t restrict you from keeping an eye on your investments. Mobile trading applications have completely changed how investors operate. With a trading platform on a smartphone or tablet, a trader doesn’t have to be tied to a desktop terminal to conduct business. For a trader whose primary job involves a lot of travel, mobile trading apps have certain advantages.
Flexibility
With a smartphone and stable connection, you can conduct all types of trading activities on the go. The flexibility of this technology means that you don’t have to leave your hotel room to know how the markets are performing. While at the beach, you can quickly check on trades for your peace of mind. Traders don’t have to spend the whole day attached to their laptop, which can put a damper on your trip. Even when carrying out other business during your travels, a mobile trading platform gives you an opportunity to multitask efficiently. With the availability of mobile banking, you can deposit or withdraw funds from your trading account using a mobile device.
Real Time Information
Online brokers such as CMC Markets provide most of the same functions of a web-based platform on mobile. Real-time news, market analysis, and charting tools are some of the features available on mobile trading apps. Every trader knows how much research influences trading activities. Therefore, being able to access all the details necessary for your decision-making on your phone saves you a lot of hassle when travelling. It won’t be necessary to sacrifice your day of sightseeing just to scour the web for the latest stock news. Mobile apps also have alert features, which are invaluable when on a trip, especially if you have major trades pending. The kind of information present on a mobile app will differ from one broker to the next, so ask about it before downloading.
Security
Smartphones and tablets are harder to compromise, security-wise than desktops. The operating system used on mobile devices has some of the best encryption. For this reason, traders don’t have to fret about the security of their transactions. Online brokers also provide their own security measures on mobile platforms to protect them from common cyber crimes like identity theft, hacking, and malware. You can confidently use your phone for trading without worrying about losing your data or money.
Choice of Instruments
Just because a trader is using a mobile platform doesn’t mean that he/she has only one or two assets to work with. Online brokers are gradually offering customers more instruments on their mobile trading apps. From mutual funds to commodities to currency markets, you can have your pick of instruments when using a mobile trading platform. If in the middle of a hiking trip you realise that your portfolio needs a bit of shaking up, you can easily select new assets to invest in. Such convenience allows you to capitalise on trading opportunities in different sectors without missing a step in your vacation itinerary.
No Time Restrictions
Time zones are usually a challenge when trading, and travelling just worsens the situation. For a trader with a broad portfolio that contains assets in different parts of the world, keeping an eye on them requires dedication. You must know how to synchronise any time difference when trading. Taking a trip can mess with your management unless you are on a mobile app. With a smartphone or tablet, you can monitor assets from the comfort of your bed when you have to trade in the evening. The easy access to a trading platform on mobile ensures that you can react to trades at any time of day.
Online brokers are increasing the benefits of modern day trading by providing customers with mobile platforms. A travelling trader doesn’t have to put his/her investments on hold with the option to trade on-the-go. Whether you are camping, taking your yearly break, or away on business, it is possible to manage your wealth using mobile trading applications. Ensure you work with a platform that has a simple user interface and multiple touch screen functions to get the most from your mobile trading.
