Time News Global Business, Technology, Entrepreneurship News
Related Articles
Mobile trading means participating in the stock market trading through a phone. Mobile trading was approved by SEBI in 2010 but investors preferred to trade through their brokers and wealth managers back then. Many investors who had access to a computer and the internet were comfortable with online trading as it gave them the opportunity to monitor the stock prices in real-time. However, in the last decade, many people, especially the youth, started using smartphones for a majority of their day-to-day work. As a result, they became acquainted with the use of mobile interfaces and started seeing mobile as a handy device for trading!
The transition from using laptops to smartphones for trading didn’t happen overnight. Internet connectivity provided by mobile and other handheld devices was relatively weaker as compared to WIFI. However, with the advent of 4G, internet connectivity was no longer an issue. Also, stockbrokers started providing user-friendly mobile trading apps to their customers. Some other crucial reasons due to which mobile trading is getting popular among youth in India are discussed below:
Exponential increase in the demat accounts
A demat account is mandatory to trade online. In the past three years, the number of demat accounts in India has doubled, making the total number of demat accounts in India reach 7.38 crores. Most of these new retail users are youngsters who are more comfortable handling phones than any other device.
Streamlined interface
A mobile screen cannot be crammed with information as it has space limitations. Software engineers who develop mobile apps understand this and try to provide a simplified trading experience to the users. Each section of the app is meant for only specific users. Once you get acquainted with the app UI, you don’t have to scroll through the large sections or pages of details. You can simply log in the app and open the tab that you require for trading. Buying and selling stocks can be done by simply tapping a button on your screen. All this improves your trading experience and saves your time and efforts.
24/7 access
It is not convenient to open a laptop or switch on a computer every time you want to monitor your holdings closely. Also, any unprecedented news or event can lead to market volatility and a smartphone is your fastest means to get more information about these updates.
With the possibility of investing in US and UK markets, having a trading app that can be accessed 24/7 helps immensely.
You can also enable the notification alert facility by which you will get updates regarding any major development in the portfolio. These notifications are different from the SMS alerts sent by stock exchanges, brokers, or custodians. For instance, if the broker has to send any trading tip or recommendations, you will get it through these notifications.
Availability of market research apps
Apart from trading apps, a plethora of market research apps that provide real-time analysis and insights are available these days. Operating these apps via mobile is a lot easier and allows you to keep up with the evolving market trends.
Safe for investments
Recognized and trusted trading platforms have launched their trading apps in the market. These trading apps have robust security layers and employ data encryption technologies to prevent any fraud and misuse of data.
The apps are being updated with new security features to provide a secure trading environment to investors. Therefore, investors trust these platforms and don’t hesitate in taking regular trades as they would do over a PC or laptop.
