If you have any experience with trading binary options, then you know that it is mostly based on speed. No matter if you trade short or long term options, being updated with happenings on the market is the most important factor when we speak about this profitable financial investment. Since we leave in fast moving world, binary brokers have realized that importance of mobile platforms that allows better user management.
Trading based on mobile platforms has become a key to successful trading and high profits for traders. Besides binary brokers, the same thing is applied to various automated trading robots that started developing mobile platforms in order to keep track of industry trends.
Mobile Trading Benefits
The most important thing about trading on your mobile phone is the ability to check your trading stats whenever you want. Being updated about the results will enable the possibility to make faster decisions which can lead towards better trading results.
Another benefit of trading binary options on your mobile device is that you are not attached to one place. Most of the people are not primarily living from investing in binary options, so most of the time traders are not at home. Mobile platform allows you to place trades if you are waiting in line for Starbucks coffee if you are on a train or even if you are bored on some of the lessons on your college.
We can also mention that mobile platform looks like a regular trading platform, it is just adjusted for your phone, so you can comfortably place trades from the palm of your hand.
Most Binary Trading Mobile Apps are Free
There is no reason for brokers to charge for their mobile applications. They aim to provide the best user experience and they have ensured many free services for their clients, so the mobile platform is one of them.
Depending on the customer care level, each broker has taken higher or lower level of attention for their application quality. It also depends on how much they have invested in the development of a mobile trading app. We don’t need to say that top rated brokers offer the best mobile platforms for their traders.
Great binary names such as: Banc de Binary, 24option, IQoption, Opteck, AnyOption and others have provided the majority of trading options and expiry times in their mobile apps. Aside from the vast amount of trading options, brokers try to ensure the mobile platform is simple and user-friendly for users. If the user experience on the mobile platform is bad, this means a broker has not managed to set user-friendly features.
What Phones Are Supported With Mobile Trading Apps?
This depends on specific broker trader choose to trade with. In the case of trustworthy and top rated brokers traders are offered to choose to trade with both Android phones and iPhones.
Trading platforms can be found on:
- iTunes App Store
- Google Play
- Broker websites – they offer direct downloads
Every broker provides technical information about requirements for particular mobile device. Traders that have latest software versions for their smartphones won’t have problem downloading the app. Those who use a bit older software versions will have to check if they comply the criteria for using the app. Both App Store and Google Play store provides specific information about every broker trading platform.
Which Features do Mobile Platforms Provide
What all mobile applications have in common is that they provide the possibility to execute instant trades. Most binary options trading apps enabled traders to directly deposit their investment. Various brokers offer their traders to get latest financial news through the trading platform, which is extremely helpful.
In basic features, we can also include the charts and up to date information about asset values. It is very important to know if the broker provides live feed information for its mobile trading app. If traders don’t receive the accurate information they will make wrong decisions.
What Should a High-Quality Mobile App Provide to its Traders?
We have been reviewing several reliable brokers and found out that all of them have a few same features available for their clients. Besides being free, broker applications that are customized for mobile phones are available both for Android and iPhone users. Applications offer to trade with all assets, including currencies, stocks, indices, and commodities. Every broker has its own underlying asset list, but all of them offer all four groups for their traders.
Traders that download high-quality broker apps are provided with 24/7 news about financial markets. As we have already mentioned, traders will be able to react promptly if they have instant access to financial market events.
High-quality mobile applications are very user-friendly and simple to use. All brokers are aware that their applications must be simple to navigate if they want to ensure good traders experience. All mobile applications are adapted for a vast amount of smartphones and it let traders have functional product in their hands.
Start Trading Through Mobile App
The practice is the same with most brokers, you register with them and you download the app that fits the needs of your mobile phone. If you already have the account with a certain broker than you just need to log in with your account information and set your account.
Every broker allows you to set a binary option type from their menu. After trader chooses which option fits his needs, next step is to choose from vast amount of assets he would like to trade with.
Every asset has its own value and traders can choose to trade with as many assets he wants to. When you click on a particular asset, you will be able to see a price chart that shows the fluctuation of that assets in a specific period of time. That chart allows traders to apply his technical and fundamental analysis and to make a strategy for placing a trade. Traders will also be able to set the expiry time they want to trade with.
Different brokers allow different expiry times. Some brokers allow very short term trading like 60seconds trades and some don’t. Most brokers have enabled various types of expiry times so traders have a bigger assortment to choose from.
After a trader has decided which amount he is willing to invest, he will be notified about the payout amount he will receive if he wins the trade.
No matter if you are a professional trader or a trading newbie, trading through mobile applications is something that can benefit your trading results and let you have more control over your portfolio. Financial markets are very volatile and having the mobile app with a broker can make a big difference in your trading strategy.