Best mobile trading platform in South Africa
Mobile apps are extremely popular nowadays. The modern man is always in a hurry to get somewhere, performing a huge number of tasks during the day. Convenient mobile applications allow you to simplify and make comfortable some of your current tasks, because the mobile phone is always at hand, and thanks to well-designed programs almost any task - whether it is booking a hotel, ordering food, flowers or taxis, buying clothes, online lessons - is done easily and simply, from a convenient place for you.
Almost all service companies of any kind, as well as manufacturing companies in various segments, give the opportunity to order their services or goods through a mobile app. Companies spend a significant part of their budget on developing and improving such apps, as it pays off and "ties" the customer in the future.
The investment destination has not been left out of the general trend. Brokerage companies have developed mobile versions of their online trading platforms. They have taken into account all traders' wishes, so a modern mobile trading platform is not just an additional option to the main desktop version, but actually a full-fledged online trading platform in your mobile phone. With a modern mobile trading app, you will have access to all the necessary functions such as buying and selling assets, setting pending orders to buy or sell, tracking quotes in real time, access to news feeds, chat, ability to apply indicators for analysis and so on.
The topic of our review today is the best mobile trading platform in South Africa. Let's take a look at what features it should include and the specifics of using a mobile trading app.
Downloading the mobile app and registering
In order to use the mobile app for online trading, you will have to visit the playmarket on your mobile device and download the app. To do this, enter the name of the brokerage company whose application you wish to install in the official playmarket search box, click on the "search" option and, once you have found the application, click on the "install" option. Pay attention to the software requirements for your phone that supports the downloaded application as well as the amount of free space required for the application to download and run correctly. As a rule, almost all online shopping apps are available on iOS and Android.
Alternatively, you can find the link to download the app on the broker's official website.
Never download a trading app from unknown and unverified sources on the internet!
Use only the official playmarket of your phone or the official website of your broker. These simple security measures will help you avoid fraudulent websites.
Once the app is fully downloaded to your gadget, you will see a branded application shortcut. Activate it by a simple tap. You will be taken to the start page of the trading app, prompting you to register or log in.
If this is your first time using the platform and you do not have an account yet, you will have to complete a simple registration process on the platform.
You can also use a simplified registration option by clicking on the "use social networks" option, in which case the system will register you using your data from mobile social network applications.
You can then use the platform.
If you already have an account on the platform, simply select the 'authorise' option, enter your username and password and log in to the platform. All your account details, transaction history and current trades will be synchronised automatically and you will be able to access them straight away.
The registration process on the mobile trading platform is easy and technically easy to understand for everyone, and does not take long. Data from all versions of the platform you use, mobile and desktop, is instantly synchronized, so you can start a transaction using your laptop and finish it using your mobile phone, or vice versa. This is very practical and convenient.
Modern mobile versions of the trading platform have a very user-friendly and intuitive interface. The first time a user visits the platform, they can easily understand all the functions of the application. Often developers make the mobile version as similar to the desktop version as possible, placing options on the same workbars. Moreover, the most frequently used functions are marked in bright colours, and the "buy" and "sell" buttons are large, so they are easy to press with the help of a finger.
While the mobile version of the trading platform previously only contained the main functions, now you will find a full range of tools, and flexible settings even allow you to customize the mobile version to your liking. For instance, you can even change the colours of the charts displayed, as well as the chart type itself, by selecting a line or candlestick chart, bars or Heikin-Ashi. You can also choose a light or dark background for the trading screen, depending on your personal taste.
A state-of-the-art mobile online trading application allows you to use tools for analysis. For technical analysis you can use indicators, for fundamental analysis you can use the news feed.
A good selection of technical indicators helps traders to identify current market trends. You can use several indicators at the same time, by selecting them from the toolbar.
The news feed is a good tool for fundamental analysis of the market or of a specific company. The flexible settings allow you to set up the notifications you need and the display of the news feed on the platform's main operating screen, if you want.
The platform's mobile app allows you to view full asset information, as well as statistics, trading history and access to live chat and a training section. In addition, you can make all the transactions you want without any limitations due to the mobile version.
In fact, by downloading the mobile version, you get "the stock exchange in your pocket" - convenient, fast and up-to-date.
Wide range of financial instruments
The mobile version of the trading platform will give you full access to the same assets as the desktop version. You can choose to trade currencies, or you can choose to trade stocks or commodities. If your chosen broker deals in specific financial instruments, you can easily find them in the mobile version. Now you can trade stocks of world leaders like Facebook, Pfizer, Tesla, etc., oil or gold, trade cryptocurrencies, binary options, or invest in ETFs with just your mobile phone. Activate the 'assets' option and browse through the whole list of available financial instruments.
The following asset classes are particularly popular with traders:
- Equity trading. Speculate using CFDs to make money on price differences;
- Invest in metals, oil, grain;
- Earn up to 80% on binary options trading;
- Choose one of the popular or exotic currencies on the Forex market;
- Invest in ETFs.
A good online trading platform offers full access to all financial instruments of the chosen broker from the mobile version of the platform.
Easy-to-use trading tools
There are many tools on the platform to make trading easier. With features such as stop loss / take profit, negative equity protection and trailing stop, you can control your profit and loss by setting a critical level for them beforehand.
Stop loss is an instruction to the broker to close a trade when a certain level of price loss is reached.
Stop losses help traders mitigate the risks of various technical failures. Suppose that at some point the trader's connection with the trading service is interrupted. It cannot send orders to the broker's server, including orders to close a trade. If he takes care of setting Stop Loss in advance, the broker will automatically close the deal when the level is reached. But if a stop loss is never set, the loss can be significantly larger.
One of the types of stop loss is the so-called trailing stop. The essence of this order is that the Stop Loss level rises following your profit, being at the same distance from it.
Take Profit is a type of pending order for a broker to close a deal when the price reaches a certain profit level. If the price reaches the Take Profit level, the trade is automatically closed and the profit is taken.
In addition, the mobile version (as well as the full version) also has a multiplier option that includes leverage. Keep in mind that leverage increases the risk of your trades significantly, so don't use it if you don't have a lot of trading experience.
Other features of the mobile version of the platform
In addition to all the above features of the mobile version of the trading platform, it should also be pointed out that with the trading app you will be able to take full advantage of all the indicators available on the platform for technical analysis, to the news section as well as to the video tutorials.
The 'Training' section, which contains video lessons, is one of the most important, so it should not be ignored. The tutorials are written in a very clear and detailed manner, all explanations are supported by real examples on the charts. This will help you enter the world of investing faster and learn the ins and outs of the investment market. In addition, the platform allows you to open a demo account - a trial version of a real account with a certain amount of fictitious money for test operations.
Try out fictitious test transactions to make sure you have a good understanding of how all the functions and options on the platform work and to develop your own trading strategy without risking any real money.
The online mobile platform also offers benefits such as 24/7 customer support in the form of feedback, multiple deposit and withdrawal options, instant execution of transactions, real-time updates, fast synchronisation of all your apps (desktop, tablet and mobile versions sync automatically and instantly), strong data protection with two-step authentication and tracking of all active apps.
Experience all the benefits of mobile commerce in South Africa. Download the mobile app today, open a demo account and enjoy the flawless performance of our perfectly designed online trading software.