Introduction
With the advent of technology, everything is going online. Stock trading is also not an exception. The majority of brokers now offer online trading apps to their customers. But the question lies: do you need an online trading app in 2024? In this article, we will understand why an online trading app is so important these days for traders and investors.
What is the need for an Online Trading App in 2024?
As per the data released by CDSL and NSDL in Aug 2023, the number of demat accounts stands at the highest i.e.123.50 million. The online trading app plays an important role in increasing demat account holders in India.
The real-time access and ease of use make people take more interest in stock trading. Here are some of the major reasons why you should have an online trading app in 2024
1. All-time Market Access
In traditional trading, there is a limitation of trading hours. Whereas in an online app, you get 24×7 access to markets. You can quickly come to know about any event or news in the market and take the trade accordingly. This will make sure that you don’t miss any potential opportunity to make profits from trading.
2. Low transaction Costs
The transaction costs involved in online investing and trading are comparatively very low. Traders themselves place the orders. So, no use of intermediaries. This reduces the fees charged by brokers. Hence your overall trading and investing cost is reduced.
3. Convenient Usage
Online trading through mobile apps is very convenient. You can place a trading order anytime from anywhere. Just a smartphone and stable internet is required. There is no need to visit the broker’s office.
This saves a lot of your time. This helps the trader to take maximum advantage of available opportunities.
4. Advance Trading Tools
When you are into trading you will need access to various technical tools to make trading decisions. These apps provide you with charting tools, technical analysis indicators and a customizable trading interface.
Apart from this, some online trading apps even provide an automated trading algorithm which allows you to automate the trades.
5. Notification feature
One of the most important features of the trading app is the notification feature. You will get important updates related to your trades and important events. You will hardly miss any updates.
6. Diversified Investment Options
The trading app allows you to invest in multiple investment options. This includes stocks, commodities, mutual funds, currency, cryptocurrency etc. You can diversify your portfolio by investing in different classes of assets.
7. Real-time Data
The trading app gives you the updates about market and charts in real-time. This helps the trader and investor to make timely decisions and earn maximum gain.
Conclusion
The online trading app makes trading and investing more convenient for you. So, one must start investing with an online trading app. You must choose a solid broker in India that provides one of the most trusted trading app, backed by unique features and the added benefit of convenience.