Technology is a boon to humanity, and Android has proved itself as one. It has helped users over the world to switch to a platform that is more easy and efficient to handle. In the field of stock markets, while the 50’s were all about newspapers, the 90s brought in the era of television, 2000s was all about the websites and this decade is all about the mobile app. Every successive stage, hands over more power to the user than the previous one.
How Mobile apps have brought in revolution
Information holds the key in stock markets and pretty much everything that goes around it. Getting access to the right information at the right time is extremely crucial for any information. Now, you can even buy or sell script while commuting. You don’t even have to feel guilty about asking your brokers a lot of questions. Many brokers companies like India Infoline have their own mobile apps that help users to watch stock quote and almost about everything on the go.
Explained: How it works
Once you download a stock market app, like IIFL markets Moneycontrol, etc. you open it and go through a small registration process. While some make is necessary for users to supply details before using the app, others like IIFL keep a guest login option citing privacy concerns – a practice that users across the spectrum appreciate.
Most of the stock market apps allow you add script or stocks to your watch list. Moreover, you can look amongst your preferred stocks, or you can also look for all the listed scripts on the respective financial market.
Only the apps that are run by financial market brokers allow that. Say if you have India Infoline as your broker, then, you can use their IIFL markets and start trading, and if you don’t, then you can use it to watch scripts and place a call for trading either on your broker’s website or by calling them. Since both looking at scripts and call happens on the same device – which is your smartphone – it saves you a lot of time and money.
Apps come with another advantage, and that is, unlike television or newspapers, where you either pay to the channel via DTH operator or the newspaper company, you don’t have to shell out any money for using these apps. They are free of cost, and there are absolutely no fees for putting stocks on your watch list, etc. However, you do pay a brokerage for the transaction as per your regular brokerage tariff.
Fast trade: The mobile advantage
Say a new breaks up and you really want to take a call on stock quickly, calling your broker can take a few minutes, and the same holds good for your computer – which you may have to turn on and then open browser, go to website, etc. but with app you can do it all at one go.
Apps have really added a new dimension to stock market trading and, therefore, it is getting more popular than it was ever before.