All You Need To Know About Mobile Trading in Nigeria: Pros and Cons

Mobile Trading
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Trading in the financial markets has become extremely popular nowadays, especially when many people are now looking for additional sources of income. In today’s high-tech society, all trading transactions are carried out online, which means that you can trade from anywhere in the world.

All you need is a speedy Internet connection and a device. You can use your PC, your laptop, a smartphone or a tablet – you name it! While many professional traders spend hours at their monitors, this may not be the case for you.

If you have another job, or if you are always on the go and you can’t afford to sit at your desk all day, that’s where mobile trading comes in! 

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Mobile trading is basically trading from your smartphone using wireless technology. It allows traders and investors to access their trading platforms from their phones rather than being limited to using traditional trading methods via PC. And this is the main advantage of mobile trading.

It provides you with easier access to your trading account and your trading terminal when you are on the move. But this is not the only benefit of mobile trading. Let’s briefly highlight its key advantages:

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  • Instant access to the market 24/7, anytime, anywhere;
  • Place your orders quickly and effortlessly, no need to start up and shut down your PC;
  • Access to live data to make smart investment decisions;
  • Ability to set push notifications and price alerts not to miss a perfect trading opportunity.

While using a mobile trading app is highly convenient, there still can be some issues. When you’re on the go, connecting to the Wi-Fi network can be tricky, not to say dangerous.

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Public Wi-Fi is a hacker’s playground for stealing personal data. Plus, if you’re not using a high-end smartphone, there’s a chance that your phone’s processor is not as fast. The lower processing speed may lead to delay in placing the orders and lower execution speed compared to the desktop trading platform.

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The smaller screen size can be also an issue for some traders, especially if you’re used to trading on a very large screen or even using multiple monitors. Besides this inconvenience, with smaller screens, there’s a greater possibility of tapping the wrong button. So, the main disadvantages of mobile trading include:

  • Connectivity issues;
  • Small screen size;
  • Higher possibility of errors;
  • Slower processing speed.

Nevertheless, all these cons don’t prevent more and more traders from downloading mobile trading apps on their phones. Nowadays, every major brokerage offers mobile applications for online trading.

AMarkets is not an exception. AMarkets trading app works on both Android and iOS and has a user-friendly interface. It provides access to an online trading platform (MetaTrader), so you don’t need to download it separately.

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You can open an account and become the company’s client through the app and trade directly from your mobile device. If you want to hone your trading skills first, register a demo account. If you want to go straight to live trading, open a live account in the app. Just complete registration and select the desired account type.

The registration process is super easy. All you need to get started is to enter your data and confirm your email address and phone number. Your account is also protected by two-factor authentication.

You can use a 4-digit PIN, protected against brute-force attacks or your fingerprint. This way, you can be always sure that your account data is safe and protected from outside intruders. 

Here are the main features of the AMarkets mobile trading app: 

  • Real-time quotes
  • 255+ trading instruments
  • Daily analytics
  • Market reviews and trade ideas from leading AMarkets’ experts
  • $10 000 demo account to backtest your trading strategies
  • Management of multiple accounts
  • High-level security and account protection
  • Speedy registration and verification process

Mobile trading has allowed traders and investors to earn from the comfort of their own homes. Mobile trading is by far the most convenient way to trade and invest in the financial markets.

Join successful traders around the world – download the mobile trading app by AMarkets and start making money today. 

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Paschal Okafor is NaijaTechGuide Team Lead. The article All You Need To Know About Mobile Trading in Nigeria: Pros and Cons was written by NaijaTechGuide Team. The article was last modified: March 18th, 2021

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