Markets Media Online: Mobile Trading Apps Take Off
Mobile Trading Apps Take Off
Convenience and the ability to trade, invest and check information on demand are driving demand for large-scale adoption of mobile trading apps.
The ubiquity of mobile devices and the dynamic nature of markets has led to a large scale adoption of mobile trading.
“There are money making and money saving opportunities in the markets presenting itself every moment,” Venkat Rangan, co-founder and CEO of MarketSimplified, told Markets Media. “The power to be able to react to and create such opportunities, on the move, will further increase mobile trading.”
MarketSimplified develops customized applications for the financial industry, natively built across multiple mobile operating systems. “Our core proposition includes coverage across mobile, tablet devices, web, Internet TV and other systems to stay ahead of the technology evolution,” said Rangan.
As of May this year, 350,000 traders were using the MarketSimplified platform. “By looking at our data and speaking with our partner firms, we know that an estimated 15-17 percent of traders who access their account on a mobile device now execute the majority of their trades through that device,” said Rangan.
Clients include financial institutions such as brokerages, banks, wealth management and advisory companies in the U.S., Europe, Asia and the Middle East. MarketSimplified counts among its customers FXCM, OptionXpress, PFGBest, Kotak Securities, National Stock Exchange of India, and Kim Eng Securities of Singapore, among others.
“To the end customer, the retail or institutional trader, the greatest value we offer is the ability to access personal financial, investment and transaction-oriented information on the move,” said Rangan. “A trader does not have to remain at his desktop in order to make critical trading and other financial decisions.”