If you haven’t realised potential of mobile phones by now, where’ve you been? In the last decade, these babies have cemented their place as our most used commodity by far. In fact, studies suggest the average adult spends at least 2 hours and 51 minutes scrolling screens EVERY DAY. That’s 86 hours a month. Easy to believe when you consider everything we use our mobiles for. Instead of knocking on someone’s door, we’ll hunt them down on Facebook. And, most of us pop onto Google at least a few times to ask pressing questions. You know the kind of thing: “Why is the sky blue?” “Where do the birds go in winter?” All the standard stuff you can’t NOT know.
And, in recent years, people have even taken to mobile trading. You can forget offices filled with high-flying brokers. Discount Brokers now report that 30-40% of their client base operates on mobile. Even if you’ve always steered clear of the trading world, you might want to get on this mobile bandwagon. Here’s why.
There’s an app for that
Apps make everything easier, don’t they? Those who’ve never cooked before can get hot in the kitchen with an app to guide them along. Even those who’ve never been able to master a language can do it with an application to help. And, those who’ve never traded can make use of apps like Acorns to get started here. Known as ‘the spare change investment app,’ this is ideal for first-time investors. The main benefit is that the app automatically invests spare change for you. Equally, apps like Stash are perfect, because they allow you to start trading with as little as $5. And, that means you can forget those $10,000 risks required in traditional trading.
Another leading benefit of this option is that you can keep a close eye on the state of your stocks. After all, we always have our phones close to hand. And, when it comes to picking up changes in the market, even an hour away from those graphs can spell disaster. This is especially crucial if you’re trading in volatile stocks, like those mentioned in this guide to trading penny stocks. With stocks like these, things move fast. A steep rise is often followed by a steep fall. And, that can be the case, even when trading in a more stable market. We’ve all heard the horror stories of lost money. But, with your mobile at hand, you can keep live-updates on your lock screen, and take action the moment things change.
Mobile trading also allows you to trade from your bank account, straight to your stocks. If you operate through a broker, you’ll usually trade from a ledger which you put funds into. While these have their benefits, they’re another thing to get your head around. Plus, you could then miss out on fast-changing trades if you don’t have the funds in place. You won’t have any of that hassle on mobile!