How to Trade Stocks on Your Smartphone

The number of things a smartphone can do continues to increase. One of the latest innovations in smartphone technology allows investors who wish to manage their personal portfolios online to do so via their phone. More and more, brokerage firms are developing applications (“apps”) that customers can download and install on their smartphones. These apps, often free to registered users, allow the customer to interface with their online portfolio to buy, sell and trade investments. The next time you see a person hunched over their phone during a meeting or in a transit lounge, they could be adjusting their investment portfolio. Learning the basic steps can help you do the same.

Image credit: 123turf.com

What You Need

The first thing you need to conduct share trading with your mobile device is the right equipment, which in this case is a “smart” device. What this means is that you need a phone with Internet access, Web-browsing capability and an adequately sized screen for basic operations. Most phones today offer these capabilities, although some are offered only as extra services you have to opt in for and then purchase from your carrier. You will also need to confirm the online brokerage firm you select offers its customers a smartphone app and that your device (iPhone, Android or Blackberry) supports it.

What You Can Do

With a smartphone investing app, you should be able to perform the following activities and more via phone. If you plan to regularly use your phone to manage your portfolio, be sure the online brokerage firm you choose offers you at least this level of functionality before you create your account.

  • Buy, sell and trade items in your investment portfolio
  • Perform background research on desirable investments
  • Receive and view real-time news feeds as well as investment performance
  • Get real-time quotes on investment items you are interested in
  • Manage, track and adjust your personal investment portfolio
  • Trade from anywhere you can access the Internet

How to Trade

Once you have the basic equipment and have selected an online brokerage firm that offers investment management options via smartphone,take these five steps to make your first smartphone trade:

  • Download the app. The first step you need to take is to download the online brokerage firm’s smartphone app. You may need to visit the app store on your mobile device and search by name to find the right app. Then, you can download the app to your phone and install it.
  • Open the app and log in. Once you have successfully downloaded and installed the app, next you need to log in for the first time. You will need your login and password you used to register with the online brokerage firm available to do this.
  • Take the tour. Most apps have a quick tour feature that you can use to get an overview of how the app works. You may also be able to take a tour on your computer to learn more about how the app syncs with your online account. These tours will show you how to find information, do research, administer your account and perform basic functions like buying, selling and trading on your smartphone.
  • Make your first trade.Once you have successfully downloaded and installed the app, logged in and taken the tour of features, you are now ready to perform your first investment trade. All you need to do is locate the stock, fund or other investment optionyou want to modify, buy or sell. Then, send a request via the app to make that change to your portfolio.
  • Track your portfolio’s progress. Once you have completed your first smartphone trade, you can continuously track the progress of that trade and your overall portfolio from your phone.

With the help of your new smartphone investment app, you will never again have to wait to find a computer or a Wi-Fi hotspot to adjust your portfolio. Now, you can maximize your portfolio’s profitability at any time from your phone.

  • http://xixicx.wordpress.com Xixicx

    informative article but……

  • http://www.emitez.com/ anis

    Awesome post bro thanks for sharing why you don’t reply to the comments bro you are going to love traffic I feel like I’m on a blog without owner

    who agrees with me?

    • http://yourcyberguide.com Divyansh

      @anis this post is not written by don, he is good and always ready for help. Anyways nice to learn about new software for stock sales.

    • http://www.doncaprio.com Don Caprio

      Of course, I do reply to comments but I prefer guest authors responding to their own articles. In most cases, they just don’t. Sorry you felt that way though. :)

  • http://netmediablog.com Nwosu Desmond

    I am thinking maybe there are a lot of things to consider and monitor before trading stocks and even professionals use multiple screens for this, how can one use just a smartphone for such complex trade?

  • http://www.naijadiary.com Donatus

    how to trade stock on your smart phone is a great and amazing step to build your portofolio.

    doncaprio thanks for the tips…keep it up

  • http://www.yunggenius.com wilson

    really cool info…. I don’t think i’ll be needing it :D

  • http://www.surestinfo.com surestinfo

    nice one. how i wish i can get this device

  • http://happyeaster-2013.com Sanju

    Great Article..Seriously Smartphones are making life easier..more and more features are adding day by day..thanks for this great article..

  • http://thebestseo.hubpages.com TheBestSEO

    Thank You !
    In this time the market of SmartPnone has been growing and new innovation also evolving.thank you for your informatic pist.