Mobile Binary Trading
Picking the right binary options broker is tough to begin with, but if they have a good mobile trading app for you to use, the decision becomes a touch easier. Mobile trading should not be your main source of trading, but it is definitely a great convenience, if only because of the fact that it allows you to trade anywhere you need to be. In this instance, you want your mobile trading app to be as user friendly as possible.
This is becoming more and more realistic for you to expect thanks to the great progress being made in smartphone technology. And what’s even better than this is the fact that these apps are completely free to download. Once you have the app on your phone, you will typically have access to all of the types of trading that your broker would offer to PC users. So if you want to initiate a call or put option, you can. Some brokers also offer one touch, boundary, and other variations of the traditional binary option, and these are usually available on the mobile platform, too.
From there, it’s pretty simple. Just choose the asset you wish to trade, the timeframe you wish to have the option active over, and the amount you wish to put up as your risk. Execute the trade, and then wait to see if you were right in your prediction. If you are, the money will be instantly credited to your account upon the expiration point.
There are two main reasons why mobile trading has become a necessity in today’s marketplace. The first is the most obvious: if a good trade pops up while you are away from your home computer, you will want to take advantage of it. It’s not realistic to sit by the computer screen all day every day, especially when binary options are traded 24 hours per day every day of the week. Good trades will inevitably occur while you’re away from home, and you are losing out if you can’t take advantage of them. The second reason will become apparent if you ever trade long term binary options. For example, a day long trade will need to be monitored from time to time now that many brokers offer early terminations to your trades if you want.
As you can see, both reasons boil down to the same thing at their essence: mobile trading increases your potential for making a profit. This means that a good trader stands to make more money with a broker that offers mobile trading than when they use a broker that doesn’t have this feature.
There is a downside to mobile trading with most brokers, though. Most brokers will not yet allow you to commit financial transactions such as funding or withdrawing from an account. The withdrawal process really isn’t a problem since this cannot be done instantly. Deposits can be an issue, though, since this is what gives you access to the markets to begin with. If you don’t have money in your account, you can’t trade at all. The only way right now to avoid this issue is to make sure your account is funded well before it becomes a concern at all. Being prepared ahead of time will save you a big hassle later on, but you may find that you run out of money unexpectedly, and in this scenario, you are probably out of luck if you are going to just rely on your app. However, you can access the customer service phone number and call it. Many brokers will allow you to make a credit card transaction over the phone when you call their 800 number, so if you are determined to make a trade while out, this might be a choice for you.
Here is the 24option app on iTunes. Get it setup in minutes.
Mobile trading is one of the most important advances in short term trading, and it has become widespread as technology improves. If you want to get the most out of your binary options trading, this is a great choice for you. Even if you never use the trading app, it’s opening up doors to you just to have it installed.