The internet has not only made trading more accessible, but it has also founded one of today’s most used financial technologies – Mobile trading.
The smartphone revolution transformed how we go about with our daily endeavors, manage our finances, and organize our tasks. Today, most investors check out their mobile when striking financial news is spread.
Some might say that desktop trading is obsolete, but many argue that the mobile app experience is limited, and most providers equip their web versions with all the features. Is it true? Let’s put that to the test!
Why Has Mobile Trading Become Popular?
Trading through mobile has gained massive popularity due to its accessibility and convenience, allowing users to trade on the go. This aligns with today’s lifestyles, as everything moves fast, and people juggle multiple tasks at once with little time dedicated to sitting in front of the desktop.
According to App Developer Magazine, mobile stock trading was estimated at $42 billion in 2024, with an approximate CAGR of 23%. This means this segment can reach a $100 billion valuation by 2029.
While we wait for 2024 reports, 2023 was a significant year for investment and financial applications. Fintech app installs rose by 42%, with sessions up by 24% compared to the previous year.
Top Characteristics to Look For
When looking for the right mobile trading app, you must have comprehensive research and charting tools to view markets and orders.
The transformation to a mobile-first trading experience has been crucial for many brokerage firms and technology providers. A well-designed trading app should provide a smooth and efficient interface, user-friendly layouts, and helpful widgets. Here are our top three characteristics:
Account Management
A good mobile trading application must offer easy and efficient account management that supports portfolio monitoring, transaction history details, and customizable dashboards.
It must also ensure top-level security protocols like two-factor authentication and biometric logins to ensure safe access to funds.
Seamless Payments
Smooth deposit and withdrawal processes are crucial for a hassle-free trading experience. Most of today’s mobile banking apps, digital wallets, and crypto applications focus on one-click transactions, accurate processing times, and low fees, optimizing user experience.
Real-Time Newsfeed
One of the most useful traits of mobile apps is providing updates and sending notifications so that users can check wherever they are.
A top-tier trading app should provide real-time news, alerts, and analysis to help traders make informed decisions. This is as important as providing access to financial news, price charts, and expert insights to give traders a competitive edge.
Case Study: B2CORE Mobile Trading App
B2CORE is a comprehensive CRM system that allows brokers to organize their client base, streamline regulatory compliance procedures, and oversee trading activities done by end-users.
On the other hand, B2CORE offers traders a personal cabinet to access trading accounts on different platforms (cTrader, MetaTrader, and more) to manage orders, transactions, and financial reports.
B2CORE successfully managed the transition to mobile trading, allowing users to access similar functions and features between the desktop and mobile app versions. When checking the B2CORE mobile trading app, we found the following features that traders prefer.
- Registration and Onboarding: Clients can directly register and verify their account through the app without having to login from the desktop to upload documents or follow external links.
- QR Code Login: Mobile users can switch from desktop to mobile by scanning a QR code for faster access without storing passwords on the smartphone.
- Flexible Deposits and Withdrawals: Desktop traders usually prefer the web version because some trading apps have limited payment methods. However, B2CORE’s offers similar payment capabilities between the mobile and desktop.
- Multiple Platform Support: Users can access their trading accounts on different software, such as MetaTrader and cTrader, without limiting their access to the web trader’s version.
- Customer Support Portal: Traders can send inquiries and get help directly from the mobile without having to login through the desktop version.
Verdict: Mobile vs Desktop Trading
Mobile and desktop trading platforms serve different needs, making the choice highly dependent on individual trading styles. While many are used to focusing on their trading session desktop platform, mobile trading provides unmatched convenience.
With real-time notifications, seamless execution, and user-friendly interfaces, mobile trading apps empower traders to stay ahead without being tied to a desk and make informed decisions on the go.
This is a sponsored post. The opinions expressed in this article are those of the author and do not necessarily reflect the views of FXStreet. FXStreet has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.
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Editors’ Picks
EUR/USD drops to daily lows near 1.1630
EUR/USD now loses some traction and slips back to the area of daily lows around 1.1630 on the back of a mild bounce in the US Dollar. Fresh US data, including the September PCE inflation numbers and the latest read on December consumer sentiment, didn’t really move the needle, so the pair is still on course to finish the week with a respectable gain.
GBP/USD trims gains, recedes toward 1.3320
GBP/USD is struggling to keep its daily advance, coming under fresh pressure and retreating to the 1.3320 zone following a mild bullish attempt in the Greenback. Even though US consumer sentiment surprised to the upside, the US Dollar isn’t getting much love, as traders are far more interested in what the Fed will say next week.
Japanese Yen refreshes three-week high vs USD; seems poised to appreciate further
The Japanese Yen retains bullish bias as BoJ rate hike bets offset dismal Household Spending data. Dovish Fed expectations fail to assist the USD in attracting buyers and keep a lid on the USD/JPY pair. Traders keenly await the US PCE Price Index for Fed rate-cut cues and a fresh directional impetus.
Editors’ Picks
EUR/USD drops to daily lows near 1.1630
EUR/USD now loses some traction and slips back to the area of daily lows around 1.1630 on the back of a mild bounce in the US Dollar. Fresh US data, including the September PCE inflation numbers and the latest read on December consumer sentiment, didn’t really move the needle, so the pair is still on course to finish the week with a respectable gain.
GBP/USD trims gains, recedes toward 1.3320
GBP/USD is struggling to keep its daily advance, coming under fresh pressure and retreating to the 1.3320 zone following a mild bullish attempt in the Greenback. Even though US consumer sentiment surprised to the upside, the US Dollar isn’t getting much love, as traders are far more interested in what the Fed will say next week.
Gold makes a U-turn, back to $4,200
Gold is now losing the grip and receding to the key $4,200 region per troy ounce following some signs of life in the Greenback and a marked bounce in US Treasury yields across the board. The positive outlook for the precious metal, however, remains underpinned by steady bets for extra easing by the Fed.
Crypto Today: Bitcoin, Ethereum, XRP pare gains despite increasing hopes of upcoming Fed rate cut
Bitcoin is steadying above $91,000 at the time of writing on Friday. Ethereum remains above $3,100, reflecting positive sentiment ahead of the Federal Reserve's (Fed) monetary policy meeting on December 10.
Week ahead – Rate cut or market shock? The Fed decides
Fed rate cut widely expected; dot plot and overall meeting rhetoric also matter. Risk appetite is supported by Fed rate cut expectations; cryptos show signs of life. RBA, BoC and SNB also meet; chances of surprises are relatively low.
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