The key to successful mobile trading

2021-03-02

Mobile investing saves money, time and accesses global markets easily.


Cruz Li, Head of Marketing in Tiger Brokers Australia, provides six key reasons for taking up mobile investing.

Smartphones have had a massive bearing on our lives – and it is little surprise that Aussies are turning to mobile brokerage accounts in their investment portfolios.

Mobile accounts save time and money and help us multi-task during our busy daily working lives, instead of the days when trading could only be done by calling a broker. It also means more people can invest, since there is less of a barrier to entry for first-time or small investors.

However, before opening an account with a mobile brokerage, here are some things to consider before choosing this investment route:

 

1. Is your broker truly mobile?

A truly mobile solution is more than just using the mobile-optimised version of the website on your phone or creating an app that simply loads the website URL in a window. Many of us use our mobile phones when we are on the go — so we need the login process to be seamless, the menus to be easily visible, speedy loading and the agility to perform functions such as transferring cash or checking on stock prices without leaping through dozens of hoops. You need a brokerage firm with a well-oiled trading solution for mobile phones, such as Tiger Brokers' mobile trading platform, Tiger Trade app.

 

2. Do you get round-the-clock support?
It's only natural for mobile phone users to reach for our phone at various times — even during the wee hours of the morning or when we are experiencing insomnia — to check the time, check our social media, read the news and manage our trades. So, if your broker has a mobile app, it should be well aware of these consumption habits.
Investors can't always afford to wait around - the stock price might suddenly fluctuate. Timing is everything. Look for the broker's various communication options, such as a help centre and a local and global call centre.

 

3. Are the prices on point?
Fintech solutions such as mobile brokerages are more affordable for everyone. Many fintech-driven investment solutions are actually managed by a team of savvy humans, experienced investors themselves. With the help of technology, they don't need to help each and every individual on a one-to-one basis, so fees can be much lower.
In comparison, calling your broker to place an order over the phone can cost $50 or more per transaction. With online brokers, you might pay way less per trade. 

 

4. Can you trade on different markets?
Why sign up for a brokerage firm that has very limited overseas markets available? No matter how awesome the brokerage app may be, or how low the fees are, if it doesn't allow you to trade in the markets you are looking at, you might want to reconsider that broker.
Find a mobile brokerage app that connects you to major stock markets around the world. Even if you're just planning to trade on ASX for now, when you're more experienced, you might eventually want worldwide exposure. It's also much less of a hassle to have your chosen mobile brokerage grow with your needs than needing to switch halfway through.

 

5. Are there other comprehensive tools and resources available?
If your mobile brokerage app is really easy to use but so bare bones you need to manually search for latest news updates, stock price history and so on, it's not really a good all-in-one mobile solution. Choose a mobile brokerage that offers relevant information, resources and tools to help you make better investment decisions.

 

6. Is the platform you're using regulated in Australia?

If so, that means you are in safer hands. Tiger Brokers NZ (ARBN 623 547 446) is an Australian Financial Services Licensee (License No: 505213) regulated by the Australian Securities & Investments Commission (ASIC).

 

It will come as little surprise that Tiger Brokers covers all these above points:

  • Tiger Brokers offers competitive commission rates in the market;
  • Tiger Brokers has a user-friendly, one-stop mobile app, Tiger Trade, with access to global markets, resources and tools;
  • There is a speedy, seamless, and simple account opening process – an easy way to access the global financial markets and access more than 7,000 listed equities on the New York Stock Exchange (NYSE), NASDAQ, the Australian Stock Exchange, Shanghai/Shenzhen-Hong Kong Stock Connect, the Hong Kong Stock Exchange (HKEX) and the Singapore Stock Exchange (SGX);
  • Tiger Brokers offers competitive in-app currency exchange rate;
  • Tiger Brokers treats all of its clients equally, with no tiers to segregate them.

 

For more information: www.tigerbrokers.com.au or download the Tiger Trade app from the Apple App Store or Google Play Store, or access it from your desktop.

 

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