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It used to be the preserve of the financial expert or city worker, but trading in stocks and shares has recently become accessible to vast swathes of the population, mainly thanks to the advent of the smartphone. Whereas in decades gone by, you needed to speak to your broker before investing in your stock of choice, now you can simply fire up your smartphone, launch your trading app, and within minutes you are ready to buy or sell stock at the touch of a button.
These trading apps are great for the novice and pro trader alike, but easyMarkets is an example of a broker that provides particularly useful feature for those of us who are not experts in the field. Firstly, if you are new to day trading, you are bound to be wary about how much money you stand to lose if you happen to invest in an asset that doesn’t perform in quite the way you expected it to. If you happen to trade with easyMarkets, there are some unique and innovative day trading tools on offer that can put your mind at ease, none more so than dealCancellation, which allows investors to undo losing trades within 1, 3, or 6 hours of opening their trade, for a small fee. This must be activated before a user opens a trade, but when selected, you can change your mind and undo a losing trade within the time limit you initially selected. For traders that are new to the industry, this is a comforting safety net that gives peace of mind when first getting involved in the world of day trading.
Perfect for the novice or pro alike
As time goes on, we naturally become more comfortable with the way trading works; the ups and downs, and the daily ebb and flow associated with it. At this point, the data available on these trading apps comes into its own, with charts and graphs on offer that allow you to track prices in realtime. Some apps will automatically notify you should a particular stock price drop to your desired level, while others will allow you to automatically sell a stock once your selected price is reached. The volume of data and the level of automation varies from app to app, but having this level of customization appeals to everyone from experts to those first dipping their toe in the trading waters.
For the novices out there, another bonus of these investment apps is that, unlike in the past, you don’t need the vast sums of capital to get started. You can start trading with much smaller amounts, meaning that nobody has to feel out of their depth at any point. The monetary barrier that has previously stood in the way of many budding traders that needed to use a direct line to a brokerage has been removed, allowing anyone with even the slightest interest in this industry, a way to experiment and even track stock without spending any money at all. The simplicity, the lower barrier to entry, and the speed at which you can trade all combine to create an experience that is far superior to the way we traded 20 years ago.
Trade on whichever platform you desire
Lastly, there is one more aspect of smartphone trading apps that makes them extremely tempting for many of us who have always had a slight interest in investments. That is the sheers scale of stocks, indices, commodities, and now crypto, then can be invested in. Cryptocurrencies in particular, have garnered huge interest in recent years, with many people confused about how to actually invest in them. These apps make the process just as simple as buying anything else, from stocks and currencies to gold and silver. In fact, it would not be unfair to say that crypto, in general, will owe a lot to these smartphone investment apps if the popularity in them increases at a higher rate than expected. Ask the average person on the street how they can go about procuring some Ethereum, and the chances are they will look at you in bemusement. Show them a modern smartphone trading app, and within a few minutes, they will be fully versed with all the information they need to trade away until their heart’s content.
The smartphone has most certainly changed the way we trade, making it far more accessible and simpler than ever before to trade in whatever area you desire. Add to that the fact that some apps now include useful trading tools that help users protect their investments without constantly monitoring them, and there is really no better time than now to start investing. Whether it is stocks, indices, commodities or crypto, the modern trading app has you covered.
Feature image: QuinceCreative via Pixabay