I know it’s a pretty bold statement, but that is where the industry is headed. In fact, not only is mobile trading the future but in some ways, it has already become the norm, especially if you look at the latest trading software.
New and cool features are being implemented all the time and the future for mobile trading is looking bright.
But before we get into why mobile trading is the future we need to rewind a little bit because the situation is not black and white, and mobile trading isn’t perfectly suited for everyone.
Mobile Trading is not the future for everyone
At least not yet. As a professional day trader, mobile trading just won’t cut it due to certain limitations. If you’re trading for a living, you most likely have a setup with computers and screens that a mobile app couldn’t replace. And even though you’re probably using trading apps when you are out and about, it’s not a complete solution.
There is also a large group of traders that prefer trading on desktop platforms for other reasons even though they’re not professionals. In many ways it’s still more practical to trade on a computer.
Nevertheless, for a large part of today’s traders, mobile trading is already the future and let us tell you why.
Trading Apps are better than ever
Over the last 6-7 years, trading apps have evolved from being a tool you mostly used to monitor your open positions and for simple signals to full-blown trading software that supports analytic work and actual trading.
Brokers from all over the world are allocating more of their resources than ever before to their mobile software, and the results are quite staggering.
During 2017, many forex brokers saw upwards of 50% of all transactions done on mobile devices and it looks like the numbers might be even higher this year.
Competition seems to be extra fierce among stockbrokers trying to develop the best stock trading apps. Just take a look at top stock trading apps in the UK and you will realize that trading is slowly moving over from desktop to mobile.
Are all Mobile Trading Platforms the solution?
One of the best examples of why mobile trading will play a huge part in our future are some of the trading software that are being launched right now that are completely mobile based, Robinhood being the most well-known.
Naturally, this shows a shift in consumer interest since some people seem happy to only trade on mobile devices, although it doesn’t mean mobile trading is the solution for everyone.
As mentioned, there are still a lot of people that prefer trading on computers and things will most likely remain like that. Also, the mobile software that is available today is still far away from being able to compete with desktop platforms on every level.
If you’re a beginner to mid-level trader today and you’re not doing at least some of your trading on a mobile device, you’re a part of the minority. Never before has mobile trading been as popular as it is today, and as trading apps get better and better I see no other future than one where at least half of all trading is done on mobile devices.