It is truly fascinating how companies’ offerings can improve due to technological changes. Yes, there are phenomenal changes that enable companies to do so much more every day, but remember, this has been the case throughout history. Technology has been constantly changing in some magnitude since the beginning of time.
Today one can find at least three different mobile apps with providers; one for Android, another for the iPhone and sometimes an app customised for the iPad. The apps are designed to make best use of the available technology. Users can search markets, check charts or monitor watchlists, set order tickets including stops and sometimes even the ability to customise the landing home screen.
iPad’s larger screens are obviously better adapted for comprehensive research such as charting and in this respect mimic the full functionality provided by a conventional PC.
The iPad makes use of Apple’s inhouse operating system iOS 6 while other Android tablets include Samsung’s Galaxy Tab 10.1 and the Kindle Fire from Amazon which have both also been gaining popularity. However, the Kindle Fire is handicapped by a limited 7-inch screen and a modest processor so it’s unlikely to make headways in the financial trading world.
IG Index offers a fully bespoke iPad trading application which features many of the features found on the web platform including live prices, market details and charting analysis. The app can be preset to ‘remember’ login details although here one has to be careful of security issues if someone else may use the iPad. There is also a fast horizontal ‘swipe’ switching between multiple panels and vertical scrolling, as well as customisable watchlists.
City Index have also recently upgraded its iPad add which now also comes with charting, technical indicators and the support of watchlists. The platform includes much of the functionality available on a desktop version including full range of markets and live news feeds.
GFT is another provider that has joined the iPad party and its trading platform was specially developed to take full advantages of the large screen. The application is able to support multiple easy-to-read open charts at the same time and these are complemented by a complete technical analysis package and live streaming news from CNBC.
Whichever way you see it the proportion of tablets and smartphones is likely to keep on growing in the medium term and tablets are now eating into the laptop market. In this age of turbulent market conditions and instant access to global news you really need to have round-the-clock access to the market through various different devices including tablet computers and your phone so even if you are away from home you have access to your trading account. As spread betting providers continue to focus on their mobile and tablets offerings we can expect this area to continue growing as providers continue to build and improve their trading platforms.
It is worth noting here that day traders that utilise technical analysis are likely to prefer tablets due to the bigger screen size and the flexibility which this allows them. This won’t matter as much for traders with a longer term trading perspective and such clients are likely to emphasise on the portability and practical aspects.
Mobile Madness
If you have any interest in financial spread betting you will probably be only to well aware that it is now possible to trade from the comfort of your mobile phone. The mobile trading platforms that are used are robust and secure and the user gets the same level of stability as they would if trading from their laptop or personal computer but I have noticed a worrying trend which I would advise you to be on your guard against.
Even someone who has been trading for a number of years and is trading completely on auto pilot will admit to that rush of adrenalin which accompanies a winning trade. For anyone who is relatively new to the game, a decent size win will make them want to shout from the roof tops, which is all very well if you are sitting at home but if a trade of this kind is made whilst sitting in the local pub, the novice bettor could very well be inclined to letting everyone know of their good fortune. Again, it could be said that there is nothing at all wrong with this but I firmly believe that anyone who wishes to financial spread bet at a level which will earn them good money, then it has to be treated as a business and trading whilst down the pub for effect, is not very business like in my opinion.
I know I must sound like something of a prude, I even think so myself sometimes but on several occasions I have seen people trading from their mobile phones just to impress their mates, there are obviously traders who trade from their mobile on a regular basis and are very successful, the difference is though they are using this facility as an extension of their office environment, not purely for effect.
One particular incident stands out for me, I had just nipped in my local for a quick early evening pint when I couldn’t help but listen to the group of young men who were sitting on the next table. One of them was boasting of making enough money to buy a new car the previous week, everyone in the pub could hear what he was saying and when he told his mates that he would make a trade on his mobile to show them how easy it was, I couldn’t help but log onto my IG account on my own mobile to track what he was doing.
I can’t remember the exact details, but in the space of about 40 minutes he had lost several hundred pounds, trading at £20 per pip and after a few pints he was asking for trouble and by the ashen look on his face, I believe that he well and truly learnt his lesson, I sincerely hope so anyway.
On the plus side of mobile trading, I read a story recently of a taxi driver who trades throughout the day and is doing very well out of it thank you. I hope you can see what I am trying to get at here, trade in whichever way suits you and which gives you an edge but never for effect and never under the influence of alcohol. Use mobile trading as part of financial spread betting and I can assure you that you will be far more likely to make it pay.
Lastly, if mobile trading is something that you intend to utilize, make sure that your broker is well equipped to meet your needs. Most of them are nowadays but it is always worth checking first.
