Earlier, people used to travel miles physically to buy shares and securities. Trading in stock market was clearly tough for investors, but everything has changed with the advent of technology in the trading business.
You do your trading through mobile trading apps but are still unaware about the pros and cons of these mobile apps?
In this article, we will be discussing the pros and cons of mobile trading apps to help you succeed in the trading business.
In current times, the Indian financial market has witnessed a great transformation with the approach of mobile trading apps. Mobile trading apps have become popular with their convenience and accessibility.
The rise of mobile trading apps in India has made the trading easy for many investors. Especially for the novice trades, they don’t take the traditional approach for trading, they want everything to be done within minutes.
What is Mobile Trading?
Mobile trading is the electronic way of trading in shares and securities. It has made trading super easy for the investors, they can easily place an order and buy or sell the shares without having to move to a different place.
It gives easier access to the traders and investors who want to manage their portfolio and do smart trading even when they are away from their desktop or laptop.
Mobile trading apps are functional on both android and iPhone, allowing users to trade from their comfort zones. They have changed the way people invest in markets in India.
Mobile trading has many advantages, but with advantages also comes disadvantages. Let us get into the pros and cons of mobile trading apps
Pros of Mobile Trading Apps
Other than making trading quick and simple there are other major advantages of mobile trading apps you can enjoy.
Placing Order is Easy
It is one of the major advantages of mobile trading apps they offer to their customers. You can trade from anywhere at any time if you have a smartphone. This will give you the opportunity of trading in stocks you want to invest at that time as price goes up and down quickly.
Real-time Market Updates
All mobile trading apps provide you with real-time market updates, keeping investors up-to-date with what’s going on in the market when you are sitting at your home. Get access to live quotes, charts, trading analysis, and make informed and timely decisions. Although you are not on the app, you will get a notification regarding the news daily.
Mobile trading apps provide you with the research reports on all the trading instruments. Giving the investors a chance to act on their trading decision quickly and easily. All the reports will be generated by the research analysts of the respected brokerage houses or firms.
Quick Execution of Trades
Mobile Trading apps hold out quick and efficient trade execution. Traders and investors can buy and sell shares or securities with just one click. Speedy transactions are very crucial in today’s fast-paced markets. It allows you to capitalise on the market opportunities quickly without contacting a broker needing your computer.
With the advanced portfolio management features mobile trading apps have made it easier for the users to monitor their investment portfolio, track performance and get access to the report and analytics. It gives the user an extensive understanding of their holdings and making informed decisions.
Cons of Mobile Trading Apps
Now that we have looked at the advantages of the mobile trading apps, it’s time to look at the major disadvantages of mobile trading apps.
Restricted Screen Size and Functionality
The first and foremost drawback of the mobile trading app is that it has a limited screen size and functionality compared to the desktop or laptop screen. It makes analysis of the charts, indicators and multiple data points complex. For some traders who rely on the in-depth study of technical analysis can find it difficult to operate on the mobile screen.
Mobile trading apps require strong internet connectivity. There may be areas where the internet is weak or has no signal, it can disturb the trading activities. Mobile apps can encounter technical glitches which can be a hurdle if you are placing an order resulting in significant losses.
Security risks could be high while trading through mobile trading apps. Smartphones can be exposed to malware, data breaches and hacking. It’s important to use a secure trading app from trusted sources, keep updating the app, and be careful when you are sharing sensitive information on public networks.
No Personal Interaction
There is no personal interaction with the broker or any financial advisor. As everything happens on the app, chances of interacting with the professionals are very less. Some inventors would want to take advice from the financial advisor to make a more informed decision.
Mobile trading apps have made a huge impact on the financial markets in India. The way people trade shares and securities have changed completely. You can trade from anywhere in the world if you have a strong internet connectivity.
In the above article, we have covered the pros and cons of the mobile trading apps. Read the full article and decide whereas you want to trade through mobile trading apps or go the traditional way of trading.
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|Disclaimer: The sole purpose of our financial articles is to provide you with educational and informative content. The content in these articles does not intend any investment, financial, legal, tax, or any other advice. It should not be used as a substitute for professional advice or assistance.|