Mobile trading definition:

Posted by Alexander on September 17th, 2021

Mobile  trading definition

Mobile devices like android phones and iPhones have always allowed the traders to check the stock market performance and the mobile trading apps provides the traders with access to online trading platforms that can be utilised to execute the trades ASAP sitting at any corner of the world. Every legit broker has an android and an iPhone app that allows their customers to trade straight away from their mobile phones

Mobile trading is the method of using wireless technology in the trading of securities. Mobile trading gives the traders an opportunity to trade via their trading platforms on their mobiles, rather than being connected to a computer as long as they trade. Such technologies allow the traders with easier access to the portfolio management tools and make trades in a better sense while being on the go.

Thanks to mobile trading, the clients have become investors and traders not only while trading from their homes but from the comfort of sitting anywhere in the world with an internet connection. This simply means that the people can trade while being at work or even while vacationing. 

With these applications, like the HFTrading mobile applications, the traders are looking at mobiles as a more convenient way of trading and by far the cheapest.

What are the advantages and disadvantages of mobile trading?

  1. Trading on mobile provides the traders with a platform to trade from anywhere in the world and as long as they have an internet connection, they are good to go.

  2. Since the trading is done via mobile, the ease of transaction is very much possible because the transactions can be made faster.

  3. The data that is necessary to make trading decisions is right at the fingertips of the trader and since that is the case, the traders can make effective trading decisions. 

  4. Trading via mobile takes away the broker intervention out of the picture and they can trade more freely. 

  5. The applications that are relevant today provide the traders with a  lot of different features like historic data, price alerts, and graphs etc. These are highly beneficial for the trader. 

  6. The traders while trading on mobile, can give the traders the advantage of monitoring the trades and investments in real-time. 

Disadvantages of Mobile Trading

  1. The Internet can be an issue, especially in hilly areas. 

  2. Since the mobile has a small screen, the majority of stock traders don\'t prefer it because they have to look at candlestick patterns very closely. 

  3. Because there is an ease of investing, the trader can end up investing more than initially intended and end up losing a large chunk of the initial capital. 

  4. There is always the possibility of human error, and accidentally clicking an incorrect option could cost the investor huge amounts of money. The possibility of a human error is never zero, and hence, accidentally clicking on the wrong orders because of the small size of the screen can become hard for the traders. 

What should I be aware of, before I begin trading forex on the phone?

There are different strategies for trading and different devices for trading as well. When the traders are trying to trade via the internet via their own integrated trading environments, they have different terminologies, they have different environments around them.

This case is exactly the same for any trader that is trading forex via phone because even if they have a different environment around them, A cell phone can provide an integrated environment to the trader for trading and hence, it is extremely important for traders to understand the terminologies associated with phone trading. So let us look at t=different forex trading terms without wasting any more time. 

1. Currency Pair:

The currency pair is made up of two currencies. A base currency and a quote currency. Both the currencies are related to each other. The currency listed first is the base currency and the currency listed second is called the quote currency. The whole deal is about the second vs, the first currency.

2. Pips:

A pip is the smallest fraction of price movement that a pair can show, if you are trading right, then the pip is your profit earned per trade.

Which broker offers mobile trading?

We recommend the popular online broker HFTrading. The broker provides mobile trading via the MT4 mobile trading app. HFtradig offers trading via three different trading accounts through which, the traders can trade on more than 30 CFD tradable assets that the market has. Each account is handcrafted by keeping the level of expertise a trader has and each account can be used via a mobile trading application. 

Bottom Line:

Trading on mobile can be risky and it can be comfortable as well. But, since the screen size is small as compared to that of a  computer or any other system, trading is not such a  good idea via mobile. Of course, the traders can enjoy it, but it is less relaxing than trading on a computer. 

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Joined: April 20th, 2021
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