These days mobile applications have become indispensable. Day to day activities like ordering food, groceries or banking or making investments. Stock broking used to be a retail business where investors or traders would visit the stock broker’s office, perch in front of a screen with the broker and place trades.
New age brokers have launched slick apps and traditional brokers have launched their online trading apps to offer convenience and attract tech-savvy millennial investors.
Do you use an online trading app? Here’s why you must try switching to a stock trading app, if not switched already.
Convenience: Online trading apps are extremely convenient for trading, you can open an online account in a jiffy by completing formalities online and submitting soft copies of your documents. There is no requirement of signing physical forms or visiting any office.
You can trade at the tap of a fingertip using the app, place orders anytime from any place as long as you have a mobile internet connection. Monitoring your portfolio or looking at market direction anytime anywhere is possible with mobile trading apps.
Easy on the Pocket: Investing through an app is more cost effective since it reduces manpower costs. There are many online trading apps where you can find attractive brokerages, offers and discounts compared to traditional intermediaries.
Speed of transactions: Mobile apps are designed to handle large amounts of data at super speed using the latest technology. Within seconds you can place time critical trades without worrying about lags, delays or signing any papers. Funds transfer, squaring off trades, placing multiple orders, buying, selling of shares can be done instantly through apps.
Enhance your Knowledge: When you trade through online apps, there is no broker or advisor telling you which stocks you need to invest in, you need to take your own decisions. Many apps provide a knowledge database, research reports and market analysis to help you learn about stocks and trends. Over a period of time, regularly investing or trading through apps on your own, even small amounts, helps you become a savvy trader over the long term.
Direct Control: With a trading app, you have direct control over your portfolio, you can monitor your investments all at once through the dashboard. Since you do not depend on a broker in between, you can review all your trades and positions to make quick decisions yourself.
Single Interface: Since apps have inbuilt portfolio trackers that display all your transactions, investments and funds status at the same place, you need not make separate lists or excels to keep tab on funds or stocks nor do you need to check your bank account separately for funds deducted. The apps show you transaction, demat portfolio and fund reports.
To find out more about AsthaTrade’s mobile trading app, click here.