Would You Trust a Mobile App for Financial Trading?
A recent Financial Times article reports that spread betting companies are moving to apps as a way to create growth within an industry which many have said has already reached maturity.
A remarkable 70% of spread-betters and traders that were polled have said that they already use, or plan to use, their smartphones for trading.
The main bonus of using their mobile blowers is that they are able to get bang-up-to-date financial info via live price feeds and then, at the push of a button, place orders wherever they are.
Naturally there is also an element of added pressure inherent with using an app where everything can change in a moment – imagine the frustration when you’re about to make a potential killing and then the app crashes!
“It is still early days and as yet difficult to determine how successful this strategy will be. But you have to ensure that these mobile platforms are robust. If someone wants to trade intraday and they are not able to open or close a position based on live prices, that could be a killer blow for the customer,” says Andrew Mitchell, an analyst at Charles Stanley.
Would you put your faith in trading this way? Have you tried it?
Let me know.