Mobile Trading with OptionBit
Nowadays a lot of people have mobile phones and tablets. They are the all-encompassing mobile devices which enable people to make phone calls, listen to music, take pictures, browse the web, etc. In recent year, binary options brokers have begun to develop mobile applications.
The binary options broker, OptionBit, offers a mobile trading platform for traders to trade binary options. On this portable, on-the-go trading platform, traders can trade with a variety of binary options types and a wide array of assets. The minimum trade amount is $10 and the payout can be up to 91% on some trades. The expiry time ranges from 15 minutes to end of the month. The broker also provides two special features: “Close Now” and “Extend”.
You can access the OptionBit mobile trading platform via your iOS or Android devices. By making use of smartphones and tablets, you can always keep an eye on the current market trends and place trades at anytime and from anywhere.
Advantages and Disadvantages of Mobile Trading
By using mobile devices which provide constant internet connection, you can always access the mobile trading platforms to trade binary options. While mobile phones and tablets make binary options trading convenient, there are some disadvantages accompanying the use of these devices.
Advantages・Constant internet access
It is needless to say that internet is very important for online trading. If there is no internet access, you will not be able to trade binary options online. With mobile devices, you can have a constant connection to the internet. You don’t need to sit in front of a computer screen for hours to watch the price movements of financial assets, and wait for the best time to place trades. Mobile devices would give you more flexibility when it comes to placing binary options trades and closing positions. For example, when you are in a taxi and you are holding a mobile phone in your hand, you could access the binary options trading platform over the internet to look at the price movements of an asset, and place a trade if you spot an entry point.・Practice trading skills
The old saying goes, “practice makes perfect”. By using mobile devices, such as smartphone and tablet, you will have the opportunity to practice binary options trading at any time and enhance your trading skills. It is very essential to learn and practice trading skills before trying out a real trade, especially if you are a novice binary options trader.
Some binary options brokers offer a free demo account to traders. You can sign up for a free demo account. Then, you can access the trading platform via your mobile phone and practice binary options trading at any time and from anywhere. In addition, the demo account is a useful tool to test your new trading strategies without risking your own money.・Keep yourself updated with the latest news
Using mobile devices enables you to connect to the internet constantly and keep you updated with the latest changes in market. You can always keep an eye on current market trends when you are not sitting in front of a computer screen. Because the breaking news and unexpected political and economic events can trigger a sharp reaction in financial markets, if you followed the news on your mobile phone, you can take immediate actions and minimize investment risks.
Disadvantages・Connection dropouts and problems
Mobile devices need to connect to either a Wi-Fi network or a cellular network. If you can’t connect to your mobile network for some reason, you may experience issues with placing trades. For example, Wi-Fi hotspots may be only installed in selected subway stations in a city and there is no Wi-Fi coverage in tunnels, or you moved out of range of the cellular network.・Execution time
The internet connection speed of a mobile phone can be slow. Some mobile trading platforms may be adapted from the platforms for PCs, which may take a long time to load. Some platforms may not be properly developed for mobile users and it may lead to connection timeouts. When you trade with a mobile phone, you may experience delay in execution time or fail to place a trade.・Power consumption
Mobile devices are usually powered by batteries which can last for a certain period of time. Smart phones with a large screen display normally require more power consumption. If you are in the middle of trading and you cannot find a place to charge your mobile phone battery immediately, you may encounter some trading problems.・Additional fees
If you always use the mobile trading platforms to place trades, you should check you mobile phone plan and your data allowance. Depending on the mobile phone plans, you may be charged additional and exorbitant fees for excess data usage.
OptionBit Mobile Trading Platform – iOS
Click here to find out more about OptionBit app from Apple Store.
OptionBit Mobile Trading Platform – Android
Click here to find out more about OptionBit app from Google Play.