Online trading has revolutionised the way people buy and sell on the stock market. Traders now have far greater control over their share portfolios and can make informed decisions from the comfort of their own homes.
There are a wide range of trading platforms to choose from. Many of these providers even offer clients the chance to start trading with a no deposit bonus.
As the industry continues to develop, so does the technology available to investors. That means it’s now easier than ever to trade online.
What kinds of tech are out there for online traders?
The software available to traders has three broadly defined uses:
Traders can look at price charts and price quotes. They are also able to, depending on their requirements, view real-time or end of day data.
In order to anticipate what lies ahead, it helps to understand what has gone before. If a trading strategy didn’t work in the past, why repeat it? Backtesting also allows users to customise settings in order to meet their own requirements.
Most packages will have, at the very least, a basic capability for placing orders. There are however, more sophisticated alternatives are available if required.
Naturally, there are fees involved for the use of such software. Those charges may be minimal for low level traders, but higher for anyone making more frequent transactions and considered to be a ‘player’ in the markets.
Only those who are traders for a living have time to spend hours in front of a laptop or PC, studying events on the markets. For the rest there’s the day job, family commitments and everyday life.
That’s why the range of apps available to online traders are so important. Investors can keep up to speed with everything stock related while continuing with their day.
There are apps for every requirement. Some are free, some are ideal for beginners and there are those that are designed to get the kids involved. There are even apps that don’t require real money and are purely for practice.
What are the benefits of online trading tech
Technology hasn’t only changed online trading, it has improved the whole experience for ordinary people who want to get involved.
The fees involved are now greatly reduced and with free apps available, becoming a trader doesn’t cost as much as it once did.
Less Middleman Involvement
Not only is the amount of money paid to brokers reduced, so is the amount of time that traders have to spend in contact with them. That leads to a much smoother and streamlined process.
In years gone by, transactions would have taken place during office hours. The rise of smartphones and tablets changed all that. Nowadays, traders can buy and sell from the beach, on public transport or while waiting to collect the kids from school.
Trading online means transactions are almost immediate. If the trader wishes to buy or sell, they can do it there and then without waiting to make contact with a broker. And any decisions made are less likely to be influenced by the broker.
More Chances to Trade
The days of trading only during 9-5 are a thing of the past. Many markets, (including the Forex) operate on a 24/5 basis, running from Sunday afternoon to Friday afternoon. This extended hours provide more opportunities to traders to become involved at days and times more convenient for the individual.