Best Mobile Spread Betting Apps in 2013

Mobile trading has become a fast growth market over the past few years.  At the biggest spread betting companies such as CityIndex.co.uk and the IGIndex.com it’s estimated that up to 20% of total monthly trades are placed through a mobile device.  Of this 20%, around 90% are from the Apple iPhone which is about to enter its 5th generation this summer.

Spread Betting Platforms that Support Mobile Trading:

Advantages of Mobile Trading

The advantages of mobile trading for spread bettors is massive.  To be honest, I only see the mobile gaming market shooting up over the next few years.  Industry experts have calculated that by 2014 more users will be accessing the internet through mobile phones and tablets than the PC, which just goes to show the scale of the explosion of mobile interfacing.

The advantages of mobile spread betting applications and platforms for devices such as the Blackberry, Android and iPhone is that it gives traders more control over their positions.  Most traders in spread betting will be speculating on volatile markets such as the FTSE 250 or UK 100 Rolling Daily (the more volatile markets allow for greater profits to be made).  Being able to open/close trades and check market prices 24/7 through your mobile ensures more accuracy in your trades.  You can partially close or reverse orders more successfully at the right time then if you had to wait until the end of the day to check your computer and cancel an order.

The newest breed of iPhone trading apps offer advanced live streaming charts and graphs to users.  ETX Capital’s iPhone app was updated with a variety of technical analysis indicators and charts in response to public feedback.  Users can now use indicators such as Bollinger Bands, RSI’s, Stochastic Oscillators, MAs and MACDs on their iPhone.  These are fully customisable too – you can zoom in and out on graphs, use them in landscape and portrait mode, and adjust the chart settings (i.e. 1 day, 1 week, 1 year price comparisons).  If you own an Android device, you’ll be happy to hear that City Index’s latest Android app (for OS 6 or higher) includes a range of live streaming technical charts with slick, touch-screen options.

Spread betting and CFD trading is a variant of speculative trading.  You’re trying to make profits betting on subtle movements in the stock markets or other currency, commodity price changes (my friend made a couple thousands pounds in spread betting by buying Microsoft shares just before they announced their new OC mobile operating system).  The ability to place bets on the go (e.g. on the London Underground) will improve opportunities to make a profit from scalp trades or sudden increases in prices.  All of this definitely adds up in the end and when you consider that around 10%-20% of total trades are placed through mobile phones it’ll probably end up changing the dynamics of the market.  More mobile users and trades will mean higher supply and demand – which leads to more perfect market prices.

Functionality of Mobile Trading Platforms

The problem of mobile spread betting in the past was that WAP-friendly cell phones had limited connectivity and processing screens.  Although they could provide basic functions to traders, in all seriousness they were never going to take off.

The development of 3rd generation smart phones such as the Apple iPhone, Google Android and Blackberry however has revolutionised the market with bigger screens, better network capability and much faster processing chips.  The iPhone’s 8cm crystal touch screen makes it perfect for opening and closing trades or amending orders.  Further more, most apps such as Capital Spreads and City Index’s “City Trader” iPhone apps give you full access to your account.

Most iPhone trading apps have everything you could ever want as a professional trader!  In addition to viewing and amending existing orders, you can view your account summary, view margin requirements and alerts, get the latest news alerts sent to your mobile, view trading charts (with advanced technical indicators), fund your account and even customise your preferences.

You can find user-reviews of the best mobile trading apps at the Trade2Win.com mobile trading forum here.

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