What Is The Best Binary Options Mobile App?
What Is The Best Binary Options Mobile App?
For people that are getting involved in binary options trading, one of the big draws about this relative newcomer to investment and trading is the technology involved. You don’t need to have a lot of money and a stockbroker acting on your behalf transferring funds through an elaborate, private, trading network. Instead, you create an account with a broker, and make your own trades yourself, though your trade orders do go through a broker who acts are your conduit to the stock market, Forex, or commodities market that you’re interested in.
Because so much of binary options trading is dependent on, and takes place with a computer and online infrastructure, this means that there is a certain sense of scalability and portability involved in the technology. All you need to trade in binary options is a computer with access to the Internet. But computers of today aren’t confined to large, desktop units, or even smaller laptops that can be carried in a case or bag. Today’s computing devices, like tablets and phones, are small enough to carry in satchels, purses or even pockets, and still have the computational power and online access to easily handle the data required for at trading transaction.
This has freed binary options traders from a desk, and allowed them to enjoy the convenience of checking on the market and making trades anytime, anywhere, provided there’s a data connection available. But the critical piece of puzzle for doing this on a phone or tablet is the software.
Web vs App
In one sense, as long as you have a smartphone or other portable computing device, and that device is Internet ready, you can trade as you see fit. Many forms of trading software are web-based, meaning that as long as your device supports popular browsing software such as Internet Explorer, Chrome or Firefox, then you can log into your trading website as per normal, and use the software you’re familiar with.
The reality, however, is that the interface for a phone is very different from the interface on your computer or laptop. These devices assume the presence of a mouse, keyboard and a large display on which see text and read information. A phone has none of these things, instead sporting a touch screen, which is much slower than a mouse and keyboard combination. This means that while you can use your normal, web-based software to conduct your trades, you’re doing so at a disadvantage, since the information was not designed to display easily on a smaller display, and the interface required isn’t present, making for a slow, inconvenient and often frustrating experience.
This is why dedicated apps are so important if you know you’re going to be checking on your progress and actually conducting trades on your phone. A mobile app has been designed with the much smaller “screen real estate” in mind, showing of cleaner spaces, large text, and a much better use of space. The interface has also been designed with touch screens in mind, making it much faster, easier and more convenient to navigate.
If you’re going to do any kind of active, meaningful trading on your phone, a dedicated app that facilitates this is the best way to go about. But that being the case, what is the best app if you’re serious about mobile binary options trading?
Lock In Your Options
For many, one of the biggest influencers in deciding on an app is whether or not the broker service you are with uses app compatible trading software. When you sign with a binary options broker service, you are agreeing to use the software they issue, as your trades must go through the broker network in order to be recognized as legitimate.
This means that your first order of business should be to see what kind of software your broker uses and if that software has an app version available. If it doesn’t, and this is unacceptable to you, then, as much as the broker may have other benefits going for it, if the lack of an app is a deal breaker, you need to move on and find another broker.
The other issue is one of automation. Do you want complete, manual-only control of your trades, or would you like to be able to issue trade orders in advance and have your software carry them out for you? This is a particularly pressing issue for people that may have busy schedules and live in time-zones not compatible with when trading hours are live. In such instances, an app that is able to issue orders even when you’re not at a traditional desktop or laptop computer is essential for being able to trade without interfering with a busy schedule.
Apps are very useful, especially for trading. But the best mobile app for binary options trading will have the features that meet your personal needs. Once you know what those are, finding the right one is easy.
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