Mobile apps have made stock trading easier and user-friendly observed by Bahaa Abdul Hussein. Thanks to these apps, anyone can do stock trading on their mobile phones after downloading the app of their choice. We look at the trends and prospects of stock trading apps for 2024.
What is a stock trading app?
A stock trading app is software application available on a mobile phone that allows stock trading to be carried out. Users who sign up for the app get access to a platform using which they can buy and sell stocks. They can also track the stock market on a real-time basis. Most apps also share news about the market and provide trading reports.
The stock trading app is an intermediary between the user and a broker. The app is offered by a registered broker who allows you access to the trading platform to buy and sell stocks. Once you carry out a transaction, the broker executes it for the user. Brokers get a commission for each transaction. You can use the app to trade in shares, currencies, bonds, commodities, and also in cryptocurrencies.
Stock trading app prospects and outlook
The value of the stock trading app market was 16,266 million dollars in 2023. It is expected to increase to 110,642 million dollars by 2033. This market is growing thanks to the demand for stock trading apps. The features that these apps offer have made them very popular. Stock market trading was considered daunting many years back. Apps have made them more accessible.
The features of stock trading apps that have made them popular are;
- Apps are fast and show stock market data on a real-time basis without any delay. The market moves fast and delay in executing a transaction can lead to change in prices. The speed of apps make them reliable and popular.
- Stock trading apps have a friendly and easy to use interface. It is easy for even novices to use. Some apps even offer mock trading to help you carry out dry runs before actually trading.
- Apps provide market updates on a real-time basis. Some apps even give you analysis reports and recommendations to help you make a decision.
- Charts are displayed allowing you to understand in which way the market is moving. Advanced traders can use their charts to make expert trading decisions.
The handy features of stock trading apps have made them popular. This has led to more and more people using these apps. It is a trend that will continue making the use of these apps more popular.
The article has been written by Bahaa Abdul Hussein and has been published by the editorial board of www.fintekdiary.com
