In today’s modern world, tech has changed every aspect of business. Whether an entrepreneur or business owner, you need to use technology to reach your goals. And when it comes to financial services, digital applications are king. Digital Information World reports a 6% year-over-year increase in the number of fintech apps downloaded between 2021 to 2023. Though banking and payment apps were the most downloaded, about 6% of all the downloads were for cryptocurrency trading apps, and 3% were for stock trading applications.
Many reputable trading platforms offer mobile app versions for users to take their trading with them wherever they go. Apps allow users to conduct online trading at fast, reliable speeds, with full functionality, and with stable and reliable pricing; anything less than that may be an issue. Global multi-asset broker Exness showcases how their feature-rich platform for both computers and mobile devices garnered a $3 trillion (₹248 trillion) trading volume and 476,172 active traders thanks to its ease of use and high standards. An accessible, reliable, and diverse mobile platform can lead to success for traders and industry leaders when used to its full potential.
If you’re one of the traders who downloaded these apps, it’s crucial that you know the digital features that can help you beat the market and earn significant profits. To start, here are the features that you should maximise whenever you want to trade using digital apps:
Leverage Trading
There’s an uptick in trading app downloads due to the rise of new traders in the financial market. These new traders can easily buy stocks, cryptocurrencies, and other assets, now that they can use leverage trading tools in just a few clicks.
To illustrate, you can use the Binance app’s leverage trading feature to increase your purchase ability and maximise the profits you can gain from every asset you buy. This leverage trading feature allows you to profit more from outperforming assets by allowing you to trade up to ten times your margin. However, you can only use this feature to boost your profits if you complete and pass the identity verification process of Binance.
Copy Trading
Aside from using leverage trading features for financing, new traders can also learn new strategies and earn profits from the copy trading features of certain apps.
Traders need detailed strategies to make optimal trades in order to get high profits. Fortunately, you can use the copy trading features of apps like eToro to be able to mimic the trading strategies of others. Copy trading is among the most popular features on eToro because it allows you to follow the strategies of experienced traders and earn profit from their moves. You won’t need to constantly assess the financial market or decide when to buy and sell because you’re already following the data-driven decisions of other traders.
Analytical Charts
Do you prefer to be more hands-on with your trades? You can make data-driven decisions and earn profits from your trade by leveraging the analytical charts that are available in trading apps.
Rather than creating charts from scratch, you can use the analytics features of a trading app to assess market changes using your preferred indicators and advanced trading signals. You simply have to use the Overview tab of these apps to get information about price statistics and asset trends over an hour, day, week, month, or even year. Thanks to this feature, you can access analytical data in just a few clicks and make profitable trading decisions during the most opportune time in the market.
Market Watch
Plenty of economic factors can affect the performance of assets in the financial market. Fortunately, traders can track these movements in the financial market with the help of apps.
Trading apps provide plenty of features that can keep investors up-to-date with the market. For instance, you can use trading apps to read about market news and economic events that may affect the performance of your assets. Aside from reading the news in the app, you can set bid/ask price alerts for your preferred stocks or currencies to get tailored push notifications whenever these assets reach your preferred prices. All the important information can be found in the app so that you can instantly change your position or start a new one whenever profitable opportunities occur.
Digital apps were made for convenience, and trading apps are no exception. These apps offer features that can help both beginners and experienced traders gain an advantage in the financial market. For more information on how technology can help your business do read our other posts.
