Mobile Trading Continues to Grow in 2021
Covid-19 has caused financial firms to adopt remote working, which in turn has led to growth in the popularity of mobile trading. Though mobile trading platforms have been available for a while now, traders have been reluctant to adopt them due to several constraints, but things turned the other way with the Covid-19 lockdown. Both retail and professional traders are now starting to use mobile platforms.
Research shows that almost 52% of webpage views worldwide are performed on mobile devices and -on average- 81% of users go online from mobile devices (reaching 91% in India and Indonesia). Also, FX brokers note increased traffic on their mobile trading platform, especially during rush hours meaning that investors are the most active while commuting.
On the basis of Fazzaco news team's coverage, we can also see the growing trend in the mobile trading market in 2021. Institutional participants in the financial market either launch mobile apps for traders or enhance their existing apps.
Brokers
In the middle of December, TD Ameritrade, a leader in US retail trading, announced that it has made enhancements to its award-winning thinkorswim trading product suite, so as to deliver an even more personal, mobile-friendly experience.
In early December, Interactive Brokers, one of the biggest US-based brokerage firm, launched 'IMPACT' mobile trading platform to investors worldwide. IMPACT is a patent pending mobile trading application designed to help investors easily align their portfolios with their values and help shape the future they wish to see.
In late August, IG Group, a British spread betting and CFD company, announced enhancements to its trading platforms. Both Super Trend and Volume Weighted Average Price Indicators were added to the company’s web platform and mobile app.
In early June, the Bitcoin exchange Kraken Digital Asset Exchange rolled out its new mobile app with streamlined buying and selling process, more convenient payment methods, and user friendly design. The app is now available in the US and the rest of the world for both iOS and Android users.
Banks
In late November, Westpac, an Australian bank and financial services provider, announced that it will launch a new and improved mobile app for Android customers, making it easier, faster, and even more secure for them to manage their money.
In late October, Wells Fargo & Company (Wells Fargo), a leader in the financial services headquartered in the US, announced it would roll out a rebuilt mobile banking app for both individual and corporate customers in early Q1 2022, alongside an all-new virtual assistant — Fargo™, which will be added later 2022.
In the middle of October, Standard Chartered and Atome Financial partnered to deliver mobile-first financial services to consumers and merchants across key markets in Asia. The partnership would initially include buy-now-pay-later services, targeting to roll out in Indonesia, Malaysia, Singapore and Vietnam in the next few months, and later expand to include digital lending products.
Software Providers
In late October, Spotware Systems, an online trading platform developer, enhanced its cTrader mobile app with new functionalities. With the new version of the cTrader app, comes a new layout for iPad and Mac platforms with improved functionality and convenient navigation.
In early June, Spotware released the new cTrader Mobile 4.1, which was described as "a valuable update, featuring advanced additions" and available for both Android and iOS users. The new version came with improved full-screen chart panel and chart period favorites. The iOS platform has also seen an improved navigation panel and main menu access.
In early April, Devexperts, a financial software provider of highly-effective professional software systems, announced that Osmanlı Yatırım, a Turkish investment and asset management company, had received a new web trading platform and a mobile trading application from Devexperts.
Experts Insights
In early October, Maciej Wojciechowski, the Business Development Manager at Purple Trading joined Fazzaco and talked on numerous trending topics. He stated "Definitely clients become more mobile app oriented. From my experience, with the help of advancements in smartphone technology, the power of a fully-fledged desktop trading platform is now able to fit into the palm of client hands."
In the middle of October, Ellen Roberts, Head of Sales at ClickaCRM published an article "Is Developing A Mobile CRM Already A Trend Today and in the Future?" on Fazzaco. She stated that "Since the start of the mobile CRM services market, it continues to attain a substantial size. Many surveyed companies believe that mobile CRM today is a general approach for easing the job of their teams and getting instant access to clientele. Yet, the realistic picture is not entirely without challenges. Fortunately, there's a marked trend towards improving CRM mobile versions. More businesses will continue investing in the mobile CRM solutions pushed by better productivity, competitors, and enhanced customer experience."
Additionally, in the middle of June, Sucden Financial, the leading global multi-asset execution, clearing and liquidity provider, announced it has revealed a new mobile trading app for its futures and options trading system, STAR.
Conclusion
As more people are getting access to Internet and mobile trading platforms keep improving further, more and more people may embrace mobile trading in the post-pandemic era, and perhaps now it is the time to shift focus to solutions that support mobile trading. What do you think?
Subscribe Now
