The App Revolution has changed the way almost everything is done today with the app marketplace already leading other markets with over a billion people using smartphones. This fact has been one of the major reasons why apps are developed. The fundamental reason we utilize such a significant number of applications is on the grounds that they are the least demanding and most streamlined means for anyone to get to whatever they’re attempting to get at on the Internet. Applications have made it easy for people to access information, data and any other thing online. Most importantly, people have been able to invest and trade online using mobile apps. So, how has the online trading app impacted on how we trade online?
The rise of the online trading app has improved how people trade online. Trading has also been made easy by online trading companies that are already established and are helping people trade through apps. Not so long ago, online traders had to make calls to their brokerage firms in order to get their trading done. For example, if you wanted to buy shares of a certain company, it means that you would call your broker with the buy order request. The broker would then let you know the prevailing market price and then confirm the purchase on the trading stock market.
A lot of confirmations would follow your order in regards to the pricing, how long the order is to be kept, the account with which to purchase the shares, and so forth. This is already complicated, but still, the investment representative also has to confirm the commission costs of the trade. After all these, you would then have your trade placed in the system by the broker and you’re sent the trade confirmation through the mail. This would be accompanied by a statement of account with the list of your investments. As if that`s not enough, if you wanted to transfer some cash from your trading to your checking account or vice versa, you would be forced again to call in for the transaction to be made.
Apparently, the online trading app has done away with this hectic form of online trading. With these apps, traders can conveniently invest in spread betting, forex, bonds, and stocks among other markets. With an online app, you mostly work with your broker online so, no calling and delays. With the trading app tools, an investor is able to place market, stop, limit, stop-limit, and stop loss orders. At the same time, the investor is able to check real-time stock quotes and see the status of their order all from an online trading app. As opposed to the traditional system, an app helps traders to access their investment and confirmation statements and investment tax forms on their mobile devices. Basically, everything from placing orders to making transactions has been made easy with the use of the online trading app. Here are some of the apps and how they help in online trading.
TD Ameritrade Mobile App
This app focuses on trend analysis and helping traders keep track of their orders and positions. Traders can use the app to transfer money and deposit checks. A trader can also use the app to acquire market information of any company by scanning the company’s barcode on its products.
This application has a user-friendly interface which helps traders to find stocks through its voice search function. Just like other apps, this one also allows traders to trade a range of securities which include ETFs, options, stocks, and mutual funds. E*Trade also provides market information with news from wires like Briefing.com and MarketWatch.
CMC Markets App
This app from CMC Markets offers CFDs as well as investments for online traders looking for spread betting. It includes a full order ticket functionality and provides real-time charting with more than 35 drawing tools and technical indicators.
This application gives investors the opportunity of trading stocks with no commission fees. It brings in a different game in online trading with its simplicity. Even though, more experienced traders might get sceptical about its simplicity. It mostly targets the millennial traders of an average age of about 26 years, most of whom are investing for the first time.