Why Mobile Stock Trading Is a Must Have
by Arina Smith Investing 21 April 2018
Nowadays, almost everything requires mobile access for on-the-go people leading busy lifestyles. Mobile payment is no longer a thing of the future since it’s finally growing in popularity. People can order their food on their mobile device, as well as sell their clothes, refill prescriptions, and even send out party invitations. It only makes sense to compact something as complicated as stock trading into a mobile platform as well.
Mobile trading specifically is defined as the use of wireless technology in securities trading by Investopedia. People with smartphones can now access their portfolios through their mobile device anywhere they have Wi-Fi or a data connection. Mobile trading is a lot more practical than having to sit down on a computer every time you want to check something or make a quick change.
For this reason, apps are being developed like wildfire that allows customers to trade themselves and manage their portfolios at the tip of their fingers. Some online investing apps include Robinhood, TD Ameritrade, E-Trade, and Trade Hero. Traditional brokers are struggling to keep up with these software savvy players, as they don’t have a platform for their clients to gain mobile access to their portfolios.
Many brokers are however adopting software like the ETNA trading terminal. This terminal includes mobile trading as one of it’s many features and allows brokers to compete with these large up and coming apps. Phones, tablets, and smart watches have become some of the most important pieces of our lives. With that, ETNA’s new mobile trading app has given clients a way to keep their portfolio at the front of their mind as well. The trading platform is white label and has a customizable layout. It’s real-time streaming reports, price alerts, and sophisticated portfolio management will keep clients satisfied and prevent them from trading with a new broker.
Updating the technology in your office and that of which you provide for your clients is an integral part of staying competitive. In the stock market, speed is one of the most valuable assets you can have to be successful. Having live streaming quotes on your mobile device is an easy way to stay on top of changes in price, buying/selling volume, profit/loss ratio, and level 2 quotes from other traders. With live quotes, live charts, and market news, your clients will be able to make an informed decision on the go.
The ETNA mobile app is only part of the ETNA trading terminal. It also offers automate back-office operations, data agnostic, and an online trading simulator. Each of these tools will bring your broker firm to a higher level and keep it competing with the bigger firms.
The world is moving towards every task we do being completely automated. In the stock market, there will always need to be human decision making because ultimately we choose which stocks we want to invest in. While we undoubtedly can’t get rid of the human factor just yet, we need to have open arms to technology that helps us make such decisions. Having a trading terminal and not having trading terminal can be the difference in a successful firm and a failed firm.
Offering your clients the latest technology in order for them to monitor and make changes to their account on the go is the first step in staying competitive. Managing your decisions, as a broker is another step to take, by adopting technology with a cloud back office and potentially a training program for new employees. The ETNA trading simulator offers that exact training, only without real capital. Customizing all of the above is the icing on the cake, because your clients won’t forget who you are. With the ETNA trading terminal, you can create unlimited dashboards and widgets with no programming skills required.
Stay competitive in your industry and know when to make an investment in your company rather than the market.
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