As per the data released by BSE and NSE in December 2021, the cash market turnover through mobile trading has increased to 19.06% and 23%, respectively. This trend shows that investors in India have started to tilt over using stock trading apps, especially after the pandemic.
This is also a result of an increase in smartphone users and lower data charges in India. With this trend, a majority of the stockbrokers in India have also started offering comprehensive mobile trading apps.
If you are wondering whether you should also start using your smartphone for online share trading, this article is for you. So, let’s get started.
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Benefits of Stock Trading through Smartphone
Here are a few pointers that will help you decide if you should start trading using a smartphone.
The stock market is quite volatile. You can miss out on the opportunity to earn a profit if you don’t decide on a time. This type of problem is faced by working professionals as well as people who constantly travel as they don’t always have easy access to terminals.
Mobile trading is a good solution to this. Every individual nowadays has an internet-enabled smartphone. So through a stock trading app, you have easy access to trading anywhere at your fingertips.
It Is Affordable
Before the emergence of mobile trading, investors or traders needed a computer or laptop, along with a proper internet connection for trading. However, this is no longer a constraint now.
Even if you don’t have a fancy device, you can use your smartphone and start trading. You just need to have a smartphone with access to mobile internet. This is quite cheaper and saves a lot of your expenses.
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Access to Data Analytics
With mobile apps providing important analysis related to the stock market and your preferred stocks, you no longer have to rely on a broker to get suggestions.
You can customize your trading app and get tips and strategies based on data analytics on your phone from the comfort of your couch. This makes your online share trading more convenient and helps you make faster decisions.
News and Analysis
News analysis plays an important role in trading in the stock market. Certain events like the declaration of quarterly results by companies, a new appointment, geological crises, micro and macroeconomic changes, etc. impact the price of stocks. By gaining insights into this matter on your smartphone, you can make decisions easily.
A stock trading app like Dhan gives quite insightful news and analysis to you throughout the day so that you can make your trading decisions rapidly and efficiently.
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Ease of Placing Orders
The majority of traders use trading apps for placing trade orders. Placing a trade order is very easy through a trading app. You just have to click a few tabs to buy or sell the stock. There is no need to contact a broker or wait in line to make your trades. This makes your trading quite convenient and saves a lot of your time.
We hope this article has helped you why there are so many benefits to using a smartphone for online share trading. Stock trading apps are very easy to use and save a lot of your time and cost. Moreover, it provides news updates and data analytics at your convenience to earn profit from the market.
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