Binary options trading is fast paced and can be very difficult to keep up with. This is especially true if you have an active lifestyle. If you’re like most of us, you just don’t have the time to sit in front of your computer all day and execute and monitor your trades. Being away from your computer for extended periods, however, can be detrimental to making a profit with your trading. Luckily, mobile trading is starting to catch on with many brokers. Through mobile trading, you can use your smart phone or tablet computer to start executing trades. This will help you to become more profitable as you can now bring your trading anywhere that you might go.
Binary Trading Mobile
The benefits of mobile trading keep piling up. Brokers are beginning to offer more choices for mobile traders, and this is a very good thing. For example, TradeRush has traditional call and put options available as well as options that you can end earlier than the original expiration time if you want.
Mobile trading offers a few distinct advantages to traders. Monitoring your trades is an important part of being profitable. There are certain times during the day where trading is most profitable; usually at the very beginning and very end of the given market days. For example, the U.S. stock market opens at 9:30 AM Eastern and you can begin trading stock binary options at 10:00 AM with most brokers. This means that if you are not at your computer at precisely 10 o’clock, you are likely to miss out on the highest volume of trading. High volume can lead to bigger price swings—this is precisely what traders want when they are plotting out their trades. Missing out on the biggest price movement periods of the day will drastically decrease your potential for profits.
Mobile trading eliminates this problem. By allowing you to bring your trading with you, you are no longer glued to your computer. Trade on your iPhone or Android phone.
Of course, there is a major drawback to mobile trading. Prices can often move very quickly, and if you are slow to monitor these price changes, you might be a little behind the cue ball when planning and executing your next moves. The fact that manoeuvring through the internet on a smart phone might be slower than using a high speed connection on your computer, especially if you are trying to find a live stream of price movements for an asset, might create a lag in your knowledge of what the markets are currently doing. Internet connections are simply better on most computers than they are on phones. Add this to the fact that computers have bigger screens and allow you to see more information at any given time, and you have a slight disadvantage in processing data when you are on your smart phone.
This doesn’t mean that you should avoid mobile trading. In fact, in most cases it will be a great benefit to add to your trading repertoire. Still, you shouldn’t rely solely on mobile devices as your method of trading. Primarily use your desktop computer. Use mobile trading when you must, but not as your first line of attack.
There are plenty of Binary brokers that offer mobile trading. Also, you can use Metatrader on your phone. This means you can get nice charting on your phone as well. These are some of things you should consider when opening an account.
Binary Trading Apps
While binary trading does not require continuous monitoring of the market and constant use of analytical tools, one still needs to be regularly involved with the trading. Unless you have fully automated your trades (based on pre-set market conditions), you will need to manually execute binary trades on the basis of data and binary signals received from your brokerage firm. While executing such trades is relatively much easier, you still need access to a computer or mobile.
It is recommended to always go with the binary trading brokerage firm that also offers a mobile application.
The following are some of the most popular binary trading apps, and you may choose one according to your individual preference:
- Binary.com: As we already mentioned, Binary.com is among the top binary trading service providers because of various desirable features, such as very low minimum deposit requirements, regulated by various legal authorities, and a track record of over two decades. Another important feature of Binary.com is that it offers a very smooth and reliable mobile application for its users. The app is user-friendly, and the trades are executed very easily with the app. This broker recently launched new brand and, as explained in our Deriv.com review, we wouldn’t be surprised if it becomes even more popular than binary.com.
- IQ Option: It is another famous name, especially when it comes to binary trading via a mobile app. The IQ Option minimum deposit limit is also on the lower side (even though it is slightly higher than Binary.com). Furthermore, it is also a regulated firm and has a very reasonable payout ratio.
- Olymp Trade: This binary trading firm is especially known for its high emphasis on ensuring a smooth customer experience. The minimum deposit requirement of this mobile app is $10, and users can choose from a range of nearly 70 assets for trading. Just like Binary.com, the minimum amount of trading here is a mere $1. You can read more in Olymp Trade review
Similarly, many other binary trading apps are also available in the market. It is always useful to conduct a thorough analysis of all the shortlisted platforms and apps before registering for any particular one. A good service provider will offer a complete package in the form of a low minimum deposit requirement, smooth trading experience, a free demo account to gain firsthand experience of the platform and reliable trading signals and other relevant trading data (such as charts and market news at the best time to trade binary options).
Binary Options App
Over the past two decades, technology has evolved more than we envisioned, and the world is heading toward automation and synchronization. Cloud computing and big data, along with the introduction of 5G technology, have paved the way for the second generation of the smartphone revolution.
Everything is heading towards the smartphone app. In this scenario, binary options brokers also needed to acknowledge this, and they launched mobile trading apps for traders to provide them the facility to trade wherever they go. Most top tier binary trading brokers have launched their mobile app supported by Android and iOS.
This has also eliminated traders’ reliance on one or two particular mobile operating systems. Binary options brokers are developing apps for all operating systems, and they keep on improving apps to enhance functionality and ease of use.
However, the question of whether you need a mobile app or not? If you do need an app for trading, how do you select the perfect broker app for you?
Traders’ needs differ from one another. Some experienced and seasoned brokers may feel more familiar with the desktop platforms and prefer using them in the future, while young and novice traders may see the mobile app as a more convenient way of doing trade.
One way to decide for you whether you opt for a mobile app or stay with the desktop version is to use both for some time. Create a demo account on the platform of your choice and trade on both – mobile apps and desktop versions for at least one week. You will get a pretty good idea about your preferred trading system.
Users share their experience online on both devices, and you can seek guidance from them if you want an outside opinion.
Some investment and trade analysis websites post reviews for binary trading platforms along with their devices’ versions. Once you have decided that you are going to opt for the mobile version of the trading platform, the next step is to select the best app available in the market for this purpose.
Here is the list of parameters for choosing your desired platform app to help you make the right decision for you.
- Accessibility of platform across all devices along with a mobile app
- Is it a professionally developed mobile app or just a mobile version of the website?
- Is mobile device friendly? Your app should put extra load on the processor and storage of the mobile.
- Does your desired mobile app provide live support in the form of a chat or call?
- Are all functions supported on the mobile app?
- Convenience to trade and make deposits and withdrawals.
- What is the overall trading experience on the platform?
The mobile app may not be a deal maker or breaker for some traders. You must take costs, profits, regulations, and overall rating of broker into consideration, but having a facility of making trades on mobile with just a touch is an exciting thing.