6 Key Benefits of Mobile Trading Platforms
6 Key Benefits of Mobile Trading Platforms
The financial markets industry has not been left behind when it comes to innovation. One proof of this is anyone can now tap into the dynamic pool with incredible ease and convenience - courtesy of dozens of mobile trading apps. These software programs not only give you the flexibility of time and function, but they also help you stay on top of any developments that could affect your trade value. Here are seven benefits of using a mobile app to play in the game of financial trading.
1. Safety and Security
Mobile apps come fortified with the highest level of security and safety so your funds, personal data and transaction details are always under lock and key. Most mobile trading platforms are managed with an encrypted firewall to eliminate fraud and action from malicious parties.
Mobile apps also require multiple levels of authentication, which require users to provide multiple factors for identification before accessing the platform.
A multiple factor authentication entails providing a password, followed by a physical characteristic, e.g. fingerprints. With multiple levels of identification, even if a hacker knows your password, they simply can't access your data.
2. Up-to-date Information
Information is power, or at least it is in stock and forex trading. Mobile trading platforms offer real-time, up-to-date news, statistics, information on currency exchange rates, commodity futures as well as comparison of currency pairs and stocks so you can always know which financial instrument is worth investing in.
And if you've taken the game further by investing in digital currency, other mobile apps will always let you know of price reactions and other trends in specific cryptocurrency worlds, making sure you never miss out on making profitable opportunities.
3. Financial News at the Fingertips
A stubborn truth about financial markets is that news drives the trade, especially in foreign exchange. Major political, business and natural events invariably have a ripple effect on international markets. An earthquake or a war in a particular country will impact its currency - along with all currency pairs related to it. Mobile apps allow you to make use of such information by supplying any political and business news that may affect financial markets directly or indirectly. This allows you to manage risks as well as position your trades to turn profits.
Mobile trading apps allow you to trade at any time, anywhere. All you need to do to lock in that profit is Wi-Fi or cellular access to the internet. Mobile trading platforms allow you to:
● Check-in as many times as you want and improve your trades
● Explore more financial markets - from stocks to bonds to forex to commodities
● Circumvent time-zone limits and geographical barriers and trade from anywhere in the world
● Purchase and sell currencies in the most opportune times
● Live stream data, statistics, and news so you're aware of prevailing market conditions
● Track your portfolio performance
5. Improves Your Chances of Success
The sheer convenience of forex mobile trading platforms; the ability to predict markets based on financial and world news, as well as learn about the real-time price values of stocks, bonds, and commodities whenever and wherever you are - all these multiply your shots at success more than ever before.
Because you can access your account(s) anytime, you're able to maximize your opportunities by exploiting prime windows as best as you can. Also, being in the know on current global, political and financial affairs helps you identify price volatilities and trends, giving you a competitive advantage.
6. More Flexibility
The basic function of trading currencies, placing bets on precious metals and commodities, buying and reselling CFDs, etc. becomes even more seamless on mobile platforms. Most apps come with intuitive, highly responsive interfaces that help you move within charts quickly, enabling you to make analyses in record time. Mobile platforms also have over 30 technical tools available to traders.
Many trading platforms also feature the ability to switch between languages. This functionality helps you access various stock markets. Other apps are even customizable so that traders can modify functions to suit their specific trading preferences.
Whether you're a beginner or a veteran, you'll find mobile platforms afford you so much flexibility, convenience and the ability to make fast decisions in the fast-changing world of financial trading. What's more, you can operate different accounts with different brokers, guaranteeing you several profit streams.