Last Updated on 4 months by DIARYNIGRACIA
As smartphones grow more integral to our daily lives, it is unsurprising that applications have been created that enable stock trading from a mobile device. Traders have been using their mobile devices to monitor the stock market on the go, but more and more transactions are now being conducted on mobile devices. As with everything, there are advantages and disadvantages, and we have provided you with our best suggestions for trading on your mobile phone and more information about some of the most popular trading applications.
Today’s hyper-dynamic environment compels us to remain mobile. All procedures are accelerating, and as many mundane jobs as possible are being automated. The number of everyday responsibilities has multiplied exponentially over the last several decades, and the Internet and technology have provided us with new options.
Mobile apps are very popular since they enable us to do various tasks on our mobile devices.
We use a smartphone application to call a cab, order meals for the workplace or home, book a hotel room, take an academic exam, study a foreign language, or purchase things. The range of mobile application options is almost limitless. Additionally, it is really handy since our device is constantly within reach. To attract consumers, businesses strive to provide users with access to their services and goods around the clock. The investment market has followed the example of innovative corporations. Mobile applications for online trading are now functionally equivalent to their desktop versions.
A contemporary investment app is a fully-fledged trading platform that gives all the tools and alternatives for online investing and portrays the true image of the stock market via its price charts, news section, and market analysis.
The mobile version of a trading platform should have some elements that guarantee its functioning is seamless and error-free. After conducting a comparative analysis of mobile applications offered by the brokerage market in the Philippines and taking traders’ requests into account, we’ve selected the distinguishing characteristics we believe are most important when selecting the best mobile trading platform in the Philippines. These include app installation, ease of depositing and withdrawing money, availability of essential tools for research and trading, accuracy and timeliness of presented information, access to real-time quotations charts, and information accessibility.
Simple and easy to download and install
The first step is to download the mobile application for the trading platform. This is quite simple and can be completed in a few minutes. Visit the official website of your preferred broker and search for a section detailing the different trading software versions. If your brokerage business provides a mobile version of the trading platform, a link to download the app will appear instantly; take advantage of it. Or, download the trading program from the mobile device’s official playmaker by typing the brokerage firm’s name in the search box.
Once the software has been downloaded, the platform shortcut will appear on your mobile device’s screen.
- If you are a registered user who has already used the platform’s desktop version, you just need to click “authorize” and input your username and password to activate the app robot.
- If you are new to the system, choose “register” and provide the required information. A link will be automatically emailed to the email address you provided at registration to confirm your registration. You may then use the app.
Online trading platform graphical user interface
Developers of trading apps strive to make the software’s interface as user-friendly as possible without compromising the functionality and quality of the services offered.
The programs are created so that even a rookie trader can browse and conduct the necessary activity easily. The buy and sell buttons are always large and brightly colored, and the selection of assets is located on the top toolbar as a drop-down list to facilitate searches. Alter the display orientation to vertical or horizontal. Choose a bright or dark backdrop for your computer’s desktop. Choose your chart colors and kind of presentation; most platforms provide line, candlestick, bar, and Heikin-Ashi charts. The left-hand toolbar of the site has other areas such as ‘Training,’ ‘Market Analysis,’ a general portfolio, a trading chat, and news. Optionally, you may display these parts alongside the quotation chart.
You may also configure alerts about market changes, which will be delivered to you through push messages or email under the options area.
A range of trading and analytical tools are becoming accessible.
A trader’s online trading platform is a potent instrument since it provides handy and practical tools for market analysis and trading in addition to conventional functions. The mobile version of the program must have all of the capabilities that the user’s trading platform provides.
Let’s examine some of them in further depth.
Technical analysis equipment
Technical analysis is a collection of techniques that enables traders to predict future price movements. The necessity for one or more indicators for technical analysis will depend on the period on which market trend analysis is conducted and the technical analysis methodologies used. Indicators of technical analysis are numerous mathematical functions of various factors (price, trading volume, etc.) that reveal the most likely direction of future price movement to the trader. Thanks to recent innovations and enhancements to online trading platforms, current traders may use indicators with relative ease. It is just to push a few buttons on the trading software’s control panel to link one or more of them to a chart of any financial instrument. The system will automatically compute all parameters and provide an indication chart that is simple and easy to read.
A trader needs to understand how to evaluate the data on the chart to identify effective buy/sell trading signals.
Instruments for basic study
Technical indicators are so-called because they rely only on statistical indications of trading (markets) and ignore the fundamentals of traded instruments, such as the earnings and revenues of corporations whose securities are exchanged on the stock market.
Unlike in the past, when mobile apps featured just fundamental features, you may now use a mobile trading application to monitor stock market news on your mobile phone. This is quite handy since your mobile phone is constantly with you, and you do not need to independently check news websites. In the platform’s news stream, you will discover all the big and significant economic events that directly or indirectly affect the price of assets.
Browse news by a business or configure a general news feed and alerts. In this manner, you will constantly be aware of global happenings.
Current information is a trader’s ace in the hole. Keeping updated on various economic and political developments can assist you in analyzing their influence on the investing market and making accurate forecasts for the future.
Instruments for trade
Traders make extensive use of the platform’s trading-related capabilities. Stop orders, stop loss, and take profit, with which you may define higher and lower transaction limits, are quite popular among traders. If you approach these limitations, you will immediately terminate the transaction. The ability to place stop orders is indicative of a solid foundation. Using this tool, you may safeguard your transactions from sudden price swings. Another useful function is the multiplier. With the multiplier, you may activate your leverage in two clicks; just pick the multiplier. You should only use leverage if you have appropriate trading expertise since leverage raises both your investment amount and your potential loss.
EXAMPLES OF MOBILE APPS
Street Smart App
Step 1: Download the software
Access the app store on your phone.
Download the app by searching for “Street Smart.”
Step 2: Sign in with your account details
Step 3: Familiarize yourself with the features
Your dashboard displays your account balance, losses, winnings if you are trading, your open orders, and whether or not they have been placed. The dashboard’s center shows a snapshot of the entire market, gainers and losers, the headlines, and the Idea Hub.
As you can see, you may click on the various sections to get a high-level overview of the S&P 500, NASDAQ, etc. You may also click “news” to see market-affecting events. In “Idea Hub,” you may see Charles Schwab’s suggestions to account holders.
Click the “Deal” button at the bottom of the page to execute a trade. Enter the ticker symbol of the security on which you want to trade. Observe that the data is being sent in real-time. Thus the numbers are always changing.
You may choose call, put, or more choices.
Then you choose the desired action (BTO, STO, etc.). You may modify your information if you like. To execute the transaction, click “Trade Compute” (which will calculate your loss ratio) or “Preview.”
I especially enjoy this software’s versatility; for instance, you can see the charts by clicking the “menu” at the bottom. Now, there are a plethora of indicators that you can add to the charts to enhance their analysis, add your crosshairs for a more focused look, and much more.
You can also build “watch” lists from the bottom menu, which includes any stocks, you monitor. This software gives you access to many other capabilities, so there are no excuses when it comes to trading. You may trade while traveling.
PSE EASy mobile app
The Philippine Stock Exchange, Inc. (PSE) has introduced a mobile application called PSE EASy. The application enables small local investors (LSIs) to acquire the most recent IPO shares on the stock market. In June 2019, the PSE EASy application was initially released. According to PSE, the app was created to “boost LSI participation in IPOs and broaden the program’s scope.” With its website and mobile application, PSE hopes to extend its investor base beyond its current reach of 60 provinces and almost 20 nations.
Interested investors must first register on the PSE EASy website before using the app to subscribe to shares whenever there is an initial public offering (IPO).
PSE President Ramon S. Monzon further said, “For the time being, the website and app are just for IPO subscriptions. We intend to leverage this digital solution by integrating a payment system and use the platform for further services.” The PSE EASy app is currently only accessible to Android users. PSE has announced that the mobile application will soon be available for iOS.
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