All of you must have experienced the feeling of constraint that comes through trading business. One is supposed to sit in front of monitors all day afraid of missing out on some golden opportunity even in tea breaks. But now the times have changed because this is the era of smart phones. The introduction of Binary Options trading in smart phones has revolutionized the trading industry. Now you can get all the freedom you wanted while keeping in touch with your work through mobile trading.
The need for mobile trading was always there but with the popularity of smart phones, it became inevitable. First in Forex Trading and now in Binary Options, this facility aims to turn the concept of trading world around into a more flexible and on-the-go business. Mobile forex trading apps have more limitations than a binary options one since forex market requires a lot of technical analysis such and Fibonacci series and MACD crosses. Binary options traders require less technical indicators while calling options, this element makes mobile trading more effective.
Choosing Binary Options Mobile Platform
Before choosing a mobile trading platform, there are certain factors which are to be kept in mind. These factors ensure that you do not miss out on a good trade due to poor performance of the app/platform.
The first and foremost feature of an app should be high speed. If your trade option is delayed due to the lazy speed of the app then probably mobile trading has no benefit at all. All charts, figures and details should be able to load quickly and respond to your commands.
Functionality and Features
Some figures and charts are very small, so the app should have the zooming feature. Similarly other visual and graphic effects should be up-to-date. The trade expiry time offered by some brokers differs on their computer and mobile apps; you should make sure you choose the one which suits your style.
Bugs and Errors
Since the mobile binary options trading is in its initial phase, many platforms have under constructed apps running with a lot of bugs and errors. Watch out for these sites. Sometimes apps stop responding and need to be closed in the middle of work. These problems are annoying and highly affect your trade.
Check the availability of your app for different mobile devices (tablets and cell phones). Make sure the app runs properly with your operating system or if the mobile device needs to be updated for it. Availability of apps for iPhone and android software should be counted.
Like any other technology and software, mobile trading has its pros and cons. Mobile trading is handy, it gives you freedom and mobility. You can trade whenever you want, wherever you want without having to drag your laptops/PCs or worrying for internet connection. But everything comes at a cost and in this case, the cost of mobility is lack of complexity. Many features that are available to traders on main platforms are not provided on mobile versions of the apps. The touch screen of mobiles is also quite troublesome at times. Even though mobile trading is not as reliable but it is fair given the feature of mobility. In the end, it all depends on a trader which kind of service suits him best.
Free Trade Alerts
eToro Copytrader Tips