Trading on the go is up – and the figures are up hugely.
So to give just one example, Fidelity , a predominantly US brokerage which runs close to 15 million retail brokerage accounts, says that mobile trading during 2013 on all forms of mobile devices including tablets, was up by a staggering 63 percent over the equivalent figures for 2012. That’s phenomenal growth by anyone’s standards and probably gives a reasonable indication of the broking industry as a whole.
The same firm reckoned that its financial apps had been downloaded more than three-and-a-half million times.
So whether these figures are indicative of the whole of the financial sector or not is a bit of a moot point – the main point here is that mobile trading is growing like Topsy. And 15 million people – along with countless others across multiple, different trading providers, can’t all be fools.
A decent percentage of them must be making a steady profit, in other words, and as in so many other walks of life, if they can do this on their mobiles or tablets, they can be anywhere and, therefore, enjoying complete freedom.
This is Nirvana for many Apple / Mac users who are awake to the possibilities the modern world offers in a generally bigger way than the rest of the market, it’s probably fair to say. So if you can trade successfully – the world is your oyster.
With some trading apps, such as those available from the world’s largest gambling exchange, Betfair’s trading arm – Tradefair, it’s possible to trial the app in simulation mode only. This is a great way to try and get started as it enables you to see if you have what it takes using real-time data and prices. And it comes with the ability to trade more than 3,200 markets including the Daddy of them all, the Foreign Exchange market, international equities and indices thereof, commodities and individual stocks. Spread betting is probably the most popular way for most people to get started in trading on their iPhones or iPads.
This is worth trialling to a point where you think you’re ready to trade for real. And if you don’t reach this point, there’s nothing lost and you’ve gained some valuable experience which offers you more of a business insight than you previously had.
If you are successful then it’s still important to keep your feet on the ground and try to build up gradually – steadily introducing more cash as your confidence grows with your own success.
So what’s behind this phenomenal growth in mobile trading? After all – we’re talking 2013 figures so it’s not as if the ability to trade via apps is exactly new.
Well, it seems the growth is partially due to the technological improvements in devices that have got rid of most of the difference in both speed and reliability between trading from a mobile device and trading via a PC. And specifically, the increase in popularity of both tablets and larger phones – or the rapidly selling “phablets” – has made the sheer physical interface easier; no more squinting at tiny figures with the risk of pressing buy rather than sell or vice-versa!
But also, there’s more of a coming of age of Generations X and Y; people who are comfortable with the technology and very keen to control their own accounts in real time and their own destinies in general.
Also, usage tends to suggest that trades are being made by active traders who would otherwise be buying or selling from their desktops. They’re simply enjoying the freedom of it all – and why not if you can do it successfully?