Do Online Stock Trading On Your iPhone
To keep up with the rapid changes in technology, online stock trading has gone mobile with an iPhone app. This opens up the opportunity to participate in share trading while you are on the go, wherever you may be.
Stock trading has come a long way from the old, traditional method of opening an account in a bricks-and-mortar stock brokerage. There, you would have to deal with a stock broker assigned to your account and give him specific instructions about which stocks to buy or sell. This method entailed maintaining a high minimum amount in opening an account and was subject to fees and charges depending upon the size of the transaction. It also had the added disadvantage of the length of time needed to communicate back and forth with the broker leading to missed investment opportunities.
If you chose to leave the whole investment process at the broker’s discretion, you would lose control over decision-making. Even worse, recent events have shown that the policies of some brokerages and investment houses have not always been transparent, dependable or trustworthy, resulting in significant losses on the part of the investor.
With the advent of the computer, stock trading has gone online. In this system, you simply open an account with an online broker. After providing basic information and guidelines, you fund your account and start trading in stocks listed on the stock exchange within the same day. Your online brokerage account gives you real-time access to stock prices on the exchange. You can then pick out the stocks you want to buy or sell and instruct your online broker to do so with a mouse click.
Before you even make your decision, your online account gives you up-to-date information on markets, companies and trends to guide you in making intelligent investment decisions. This leaves the whole process practically in your hands and ensures that you have full control of your investments at all times. The online account also gives you a record of all your transactions. Similar to an online bank statement, this report enables you to review your investments and track your progress.
Now, a new development has emerged with communications, information and transactions going mobile. The cell phone is predicted to be the dominant tool for all these activities in the years to come. This is demonstrated by the rapid rise in the popularity of the iPhone and its use for a multitude of tasks including asking Siri where you can go for lunch.
Stock trading online has jumped onto this bandwagon by introducing an iPhone app that allows you to do online trading wherever you are. With this app you can view your portfolio in real time, buy and sell shares without having to access a computer. Like the computer version, stock trading on your iPhone is charged a fixed fee per transaction and is not dependent upon the value of the trade. Unlike the traditional method, no management fees or inactivity charges are levied on online trading. Speed, security and, now, accessibility have come to online stock trading with the iPhone app
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