With the incessant development of technologies, mobile phones have become very complete gadgets, veritable mini-computers. Smartphones running Android or iOS thus offer virtually all the functions of a computer, with a few differences, however. Trading players have therefore not hesitated to offer mobile versions of their platforms so that investors can trade more freely. Trading anywhere and anytime is the main advantage of mobile binary options trading.
A booming market
Today, smartphones and tablets are an integral part of everyday life. And that’s not surprising, given the ever-innovative features offered by manufacturers, which are no longer just about sending messages or making voice calls. With billions of smartphones on the market, it is in the interest of brokers to offer trading solutions that are adapted to this trend. Most online brokers have developed mobile versions of their platforms that are compatible with Android and iOS systems. Some of them have also developed mobile applications specifically dedicated to trading, with various functionalities.
Given the current habits of private individuals, this market segment automatically proves to have a high potential. According to a study published by the broker AnyOption, 40% of its clients’ transactions are now carried out via mobile media. These include iPhones, iPads, tablets and smartphones running Android. The fact is that, for several years now, consumers have been becoming increasingly mobile and no longer necessarily sit in front of their computers to carry out tasks. They are increasingly looking for freedom of use, which allows them, among other things, to move around and invest at the same time.
In such a consumer society, which is becoming more and more demanding in terms of comfort, mobile trading platforms are automatically very successful. Trading applications are generally accessible on the App Store or Google Play and, depending on each broker’s terms and conditions, can be free or paid for.
Advantages of mobile trading
The trading tools dedicated to mobile phones have been designed to meet the need for speed, practicality and ease of use. Thanks to the mobile versions of platforms and trading applications, traders can make investments wherever they are. During a bus trip, in a restaurant or in a waiting room, all they have to do is log on to open or close trades. Mobile trading platforms also allow you to follow the evolution of investments in real time and have, among other things, graphical tools specially adapted to this type of device. All transaction movements are displayed live on the phone or tablet screen. From the choice of asset to the closing of a position, transactions can be carried out directly on the mobile device, without the need for a computer.
Most brokers also offer alert options so that investors don’t miss out on market movements. The broker 24Option, for example, provides its clients with a “push message” function, which informs the investor about the results of his transactions. The mobile applications offered by AnyOption also include SMS functionalities, which alert the trader when his position is closed. Many other options are advantageous for mobile investors and, moreover, brokers continue to offer cutting-edge tools to satisfy their customers. However, the quality of the interfaces and tools, as well as the number of functionalities offered, may differ depending on the broker in question. It is therefore advisable to consult reviews on Google Play and the App Store before choosing a trading platform.
Some disadvantages, however
While mobile trading is a rather convenient solution for investors, at the moment it still has some drawbacks. Although transactions can be carried out entirely on these media, many brokers do not yet allow financial transactions via mobile applications. Many online brokers, for example, require a web-based platform for deposits and withdrawals. Brokers do, however, ensure the security of the investments made on their mobile platforms, for example through encryption and firewall systems.
Although the very interest of mobile trading lies in the freedom it offers, it should also be noted that use may be subject to a certain limit. Trading operations can only be carried out via an internet connection, and when the trader is in offline areas, it is impossible for him to carry out transactions. During a train journey for example, connections may be of poor quality, which could suddenly disconnect the trader from his investments. It also happens that due to a poor internet connection, the execution time of trades becomes slower than on a computer. Some features available on computers are also not accessible on mobile phones.
Although mobile traders can use charting tools, they cannot use technical analysis indicators such as MACD, RSI, or Bollinger Bands. While zooming is possible, tracing indicators remains virtually impossible on the small screen. This being said, brokers continue to improve their mobile binary options trading tools such as TopOption or OptionWeb, in order to allow complete investments without computers. In the meantime, it is important to make sure you are well informed in order to find the most efficient applications and platforms.