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Mobile Trading What it Means How it Works Examples

Mobile Trading What it Means How it Works Examples

Mobile Trading: What it Means, How it Works, Examples

What Is Mobile Trading?

Mobile trading refers to using wireless technology for securities trading. Investors can access trading platforms from their phones instead of being limited to computer-based methods. This technology allows smartphone users to actively manage their portfolios even when away from a desktop or laptop.

Key Takeaways

  • Mobile trading allows investors to trade using wireless technology on their smartphones.
  • Investors can access accounts and initiate orders from their mobile devices.
  • Major brokerages offer Android and iPhone apps, enabling customers to trade on mobile.

Understanding Mobile Trading

While mobile devices like Android phones and iPhones let users check stock market performance, mobile trading apps provide access to online trading platforms for executing instant trades from anywhere. Major brokerages offer Android and iPhone apps for customers to trade directly from their mobile devices.

Mobile trading enables individuals to trade and invest not only from home but also from anywhere in the world with an internet connection. This means people can trade at work or even on vacation. Mobile trading-only apps, like Robinhood with its commission-free trading, have become the most convenient and affordable choice for many individuals.

Mobile Trading Application Examples

  1. TD Ameritrade — One of the pioneers in online trading from desktops, TD Ameritrade now offers various mobile apps tailored to different trading and investing styles. The basic TD Ameritrade Mobile app provides a similar experience to desktop trading setups, customized for mobile. On the other hand, the thinkorswim mobile app is even more powerful, allowing investors to customize interactive and modular dashboards. From the dashboard, users can access company research and analyst reports, deposit/withdraw funds, create custom charts, and engage in live text and screen sharing with trade specialists. TD Trader is ideal for active or sophisticated market participants, offering interactive charts and technical indicators for staying up-to-date while on the go.
  2. Robinhood — Robinhood initially started as a mobile-only app before launching a website. It is best known for offering completely free stock trades and supports trading Bitcoin. The app focuses on easy tracking of owned stocks and watch-listed assets. While Robinhood does not support trading mutual funds or options, it offers a Robinhood Gold account for margin and extended-hours trading for more advanced users.
  3. Acorns — Acorns is a robo-advisor targeting new investors or those who prefer a set-it-and-forget-it approach. The app constructs optimized indexed portfolios using ETFs across various asset classes based on each user’s risk tolerance and time horizon. Acorns can link to users’ bank accounts or credit cards to track spending and round-up purchases to the nearest dollar. For instance, if a user spends $3.68 on a coffee, the app will invest the remaining 32 cents in their portfolio. Acorns Lite charges only $1 per month, allowing users to start with as little as $5.
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