Nowadays, digital trading is on the spike and mobile phones have made it easier than ever. We’ve found that 35% of traders use mobile phones to search for a broker. You can monitor the performance of your stocks or digital assets using your smartphone. This tiny gadget can track the record of your investments and give you endless opportunities to earn money. That time has gone when people had to go to the stock exchange office to keep track of their investments. Smartphones have proven to be a great breakthrough in performing trading in a matter of minutes as they offer online trading platforms where you can execute your trades easily. All this is due to the remarkable technology “Artificial Intelligence” which is the backbone of all digital innovations. In this article, we’ll explore mobile trading apps and the primary force behind them. Let’s get the ball rolling.
Mobile Trading At A Glance
Mobile trading enables traders to trade their digital assets using mobile phones. Even beginners who don’t have enough experience in trading can benefit from mobile trading regardless of the place they are. Mobile trading allows them to trade their investment portfolio by simply sitting in their comfort zone. They can choose to make investments and start trading as a side hustle. Trading apps like Robinhood offer commission-free trading to beginners giving them a great user experience. Due to market automation, trading hours have increased to the point that several markets, such as cryptocurrency and forex, are open 24 hours a day. Trading is now different as a result of this. The market for stock trading apps is expected to be valued at US$ 1,10,624.4 million by 2033, up from an estimated US$ 16266.1 million in 2023.
Role Of Artificial Intelligence In Mobile Forex Trading
Artificial Intelligence has become the keystone for trading. Technologies like pattern recognition, data analytics, machine learning, and natural language processing all leverage AI. It is widely used in the forex trading industry for monitoring markets. Algorithms evaluate vast volumes of market data and spot trends and patterns that may be useful for making informed trading decisions. Over time, this technology has advanced to a point where it can now help people make decisions more quickly and with more accuracy.
It’s crucial to remember that AI technology is always developing, even though some traders might be reluctant to base all of their trading decisions entirely on it. The more data that is gathered and examined, the more accurate AI algorithms get, which may result in increased revenue. AI algorithms behind auto trading bots like Bitcoin Bank allow traders to monitor market conditions and predict the prices of their digital assets by using AI predictive analytics. These bots are time-saving and effective in performing risk-free trading.
Top 3 AI-Powered Mobile Trading Apps
Finding a broker that offers cryptocurrency CFDs and having access to a reliable trading app or website that functions well on a mobile device are crucial. Let’s curtain off the top three mobile trading apps that allow traders to trade with ease and stay informed about forex markets.
SimpleFX, a forex and CFD broker app, is renowned for cryptocurrency trading these days.
All of the most popular cryptocurrencies, such as Bitcoin, Ethereum, and Ripple’s XRP, are available for trading on this platform. Cryptocurrencies can be traded against the US dollar, the euro, the yen, and other fiat currencies on this platform, which is accessible to traders worldwide. Users can trade cryptocurrencies against one another. The broker provides many platforms and services to its clients. These include access to MetaTrader4, mobile browser interfaces, and apps for iOS and Android.
Additionally, using your Gmail or Facebook account to register expedites the procedure. Additionally, MetaTrader 4, which is largely considered to be the best technical analysis and trading platform available, is accessible to SimpleFX clients. For market analysis, strategy creation, order management, and risk monitoring, Metatrader provides active traders with nearly all the tools they might require. It also allows people to get crypto-related education.
TD Ameritrade, which was among the first businesses to offer desktop online trading, now provides a range of mobile trading and investment apps that can be customised to meet the needs and preferences of individual users. The TD Ameritrade Mobile app’s basic version provides a mobile-optimised experience that is comparable to what a trader could have on their PC stock trading setup. In the meantime, the extremely powerful TD Ameritrade Thinkorswim smartphone software gets much more potent. Investors can personalise their screens as dynamic, modular dashboards with the TD Thinkorswim software. You may design custom charts, deposit and withdraw money, access corporate research and analyst reports, and communicate live via screen and text sharing with trading experts all from your dashboard. This mobile trading app is designed specifically for expert traders.
Originally, Robinhood was only available as a mobile app before launching a website. The main feature of Robinhood is its entirely free stock trading service. It is a great alternative if your portfolio consists of stocks and exchange-traded funds (ETFs), even though it does not allow you to trade assets like mutual funds or options. The business just included support for Bitcoin trading as well. Your watch list and the equities that you hold can be easily tracked with this app. Although trading on Robinhood is free, more experienced users can subscribe to a Gold account, which offers extended trading hours and margin trading.
AI-based mobile trading apps are a great option for investors to perform trading. They can bring home the bacon by investing in cryptocurrencies. Since mobile apps enable them to trade while on the go, the majority of cryptocurrency traders prefer to use them. Traders can examine fees, spreads, and liquidity, and monitor market volatility. Install your favourite mobile trading app and start earning money!