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The Prominence of Trading and Investing with Smartphones

Technology has drastically increased the means by which trading can be done. This persists with a variety of options, which include trading stocks, forex to even cryptocurrency trading which is relatively recent. On many platforms you can own the asset outright or choose a derivative product to leverage your position.

More trading platforms exist and utilise the proliferation of smartphones across the world. For instance, you can access a list of time saving trader tech apps at Traderlife. You can even find more through a search on your smartphone app store. All of this points to one thing - more trading platforms are targeting smartphone users. We believe we know why and you can find the reasons out below.

1. Increased Smartphone Use

Smartphone use across the world keeps going up. According to Statista, the number of users currently is about 6 billion. This number is forecast to further increase in the coming years.

With statistics like this, smartphone users are a major target of several industries, like online trading. It also ensures their products are not limited to a certain region but can be accessed globally.

2. Ease of Payments

Most users have subscriptions such as Apple Music, Spotify, Netflix and have their wallets already stored. This could be their credit or debit cards, e-wallets or other financial information.

This makes payment and trading on mobile easy and instantaneous. For instance, when a user is prompted to make transactions, the information simply autofills. Also, where it involves an OTP number, this can be easily confirmed as it is connected to the mobile number with the trading account. Such transactions help to facilitate a faster trading process on mobile.

3.Portability

This is the most prevalent basis of most apps today. Several industries are aware that smartphone apps can be used whenever and wherever. Hence, they ensure their sites are optimized for mobile and also create native apps. So, you do not have to be in an office to carry out your trading business. With mobile trading apps, you can be at home or even in transit and still conveniently trade.

A common example of this portability factor applies to the online gaming industry. Because of the pandemic, mobile gaming has boomed. For example, in South Africa, the industry has increased by 12% the past year. The trend doesn't seem to be stopping and now table games such as blackjack are becoming increasingly popular. To assist in playing there are online gaming portals like Casinos.co.za. The site recommends mobile casinos which offer exciting bonuses and free spins to players. Moreover, all operators are properly licensed and the platform provides unbiased, comprehensive reviews for each one, highlighting their strengths but also listing their cons. There is also a wealth of information available about mobile casinos, such as tips and guides on how they operate, including their advantages.

4.Easy to Practice

Just like regular gaming applications that have dual functions, trading apps also work in a similar manner. Most of these platforms ensure that their apps come with free versions or demo games. This approach gives users the chance to practice their trading skills with no obligations.

Consequently, with mobile trading apps, it is easy to simply transact without money and practise your skills. This in turn, builds the confidence of potential users, and allows individuals to learn the nuances of the market.

5. Ease of Monitoring Trade

There are several forms and strategies of trading. While some trades are short and brief, others are longer. Investor.org states that to have a “long” position implies that the security is owned by you. Therefore, this means you are predicting that the underlying asset will rise in value. Thus, when you are engaging in a long trade, you may want to observe how the value of the security is faring. Mobile versions make monitoring such trades really convenient and easy. Many platforms provide in depth graphs and give templates for advanced technical analysis.

Conclusion

Trading on mobile has a variety of benefits. With a smartphone, you can always practice until you understand how your preferred platform functions. Not just that, you can also trade from any location. Hence, it is no surprise to see why mobile trading is being leveraged by retail traders, to maximise returns.

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