6 Things to Consider Before Choosing Stock Investment Through Mobile Trading Platform
This post was written in collaboration with Tiger Brokers. The information herein is for recipient’s information only and not an offer to sell or a solicitation to buy.
There is no denying the fact that smartphones have had a massive bearing on our lives in nowadays. Technology is prevalent everywhere, and it is vitally important to make sure you look at what it takes to play such a crucial role in our lives.
It makes perfect sense for retail investors like us to turn to mobile brokerage accounts. This saves us time and money and helps us multi-task during our daily commute, instead of the days of yore where trading could only be done by calling your broker. This also means that everyone can invest, since there is now less of a barrier to entry for first-time investors.
However, before you open an account with a mobile brokerage, here are some things to consider before choosing this investment route:
1. Is your broker truly mobile?
For a service to have a truly mobile solution, it’s more than just using the mobile-optimised version of the website on your phone or creating an app that simply loads the website URL in a window.
Many of us use our mobile phone when we are on the go — this means we need the login process to be seamless, the menus to be easily visible, definitely speedy loading, and the agility to perform functions such as transferring cash or checking on stock prices without leaping through dozens of hoops.
So if you are going to open an account with a brokerage firm that has a well-oiled trading solution for mobile phones, it’s definitely going to make your trading life much easier.
One such online trading platform is NASDAQ-listed company (TIGR) — Tiger Brokers New Zealand, which has a dedicated one-stop mobile and online app, Tiger Trade. You can access the global financial markets and manage your own investment portfolio via Tiger Trade.
Tiger Brokers’ mobile and online trading platform, Tiger Trade, enables investors to trade in equities and other financial instruments on multiple exchanges around the world using one integrated account. It is this simple!
2. Do you get round-the-clock support?
It’s only natural for us mobile phone users to immediately reach out for our phone at various times — even during the wee hours of the morning, or when we are experiencing insomnia — to check the time, check our social media, read the news, and even manage our trades.
So, if your broker has a mobile app, it should be well aware of these consumption habits.
If I’m investing, I can’t afford to wait around - the stock price might suddenly fluctuate. Timing is everything.
It’s nice that the Tiger Brokers offers various communication options such as a help centre and the local and global call centre.
3. Are the prices on point?
Just like how I would expect to pay a premium for the services of a personal butler at a restaurant versus that of a vending machine style eatery, fintech solutions such as mobile brokerages are less expensive and more affordable for everyone.
If you think you’ll be getting a mindless robot that might make rubbish decisions, many fintech-driven investment solutions are actually still managed by a team of savvy humans who are experienced investors themselves. With the help of technology, they don’t need to help each and every individual on a 1-to-1 basis so fees can be much lower.
In comparison, calling your broker to make a trade on the phone used to cost $50 or more for a 1-way transaction. But with the presence of online brokerages, you will only pay $10 to $25 per trade; and some of the mobile brokerages (such as Tiger Brokers) sweeten the deal further, going as low as USD$0.01 per share (minimum USD$2.98 per trade) for commission fees for trades in overseas markets.
Here are some latest commission fees that Tiger Brokers charges:
· Australian stocks:0.11%, with a minimum AUD$8.8 per trade
· Singapore stocks: 0.12%, with a minimum SGD$3.32 per trade
· Hong Kong stocks: 0.03%, with an HKD$15 platform fee per trade
· Shanghai/Shenzhen-Hong Kong Stock Connect: 0.03%, with an CNY$15 platform fee per trade
4. Can I trade on different markets?
Why sign up for a brokerage when it will only limit your exposure? No matter how awesome the brokerage app may be, or how low the fees are, if it doesn’t allow you to trade the markets you are looking at, it’s a no-go. After all, you’re only here to invest.
Find a mobile brokerage app that connects you to the major stock markets around the world. Even if you’re just planning to trade on ASX for now, when you’re more experienced, you’ll eventually want worldwide exposure. It’s also much less of a hassle to have your chosen mobile brokerage grow with your needs than needing to switch halfway through. Additionally to the ASX, Tiger Brokers’ local customers can now access more than 7,000 listed equities on the New York Stock Exchange (NYSE), NASDAQ, Shanghai/Shenzhen-Hong Kong Stock Connect, the Hong Kong Stock Exchange (HKEX) and the Singapore Stock Exchange (SGX).
5. Are there other comprehensive tools and resources available?
If your mobile brokerage app is really easy to use, but so bare bones that you need to manually search for the latest news updates, stock price history and so on, it’s not really a good all-in-one mobile solution.
Just like how stockbrokers have all the information at their fingertips, choose a mobile brokerage that offers relevant information, resources and tools to help you make better investment decisions.
For example, the Tiger Brokers’ Tiger Trade app has a news tab that serves up timely industry news about the markets. Even if you’re not planning to make any trade soon, being constantly updated about important stock market developments can beef up your investment knowledge, market sensing and help you make an informed trading decision down the road.
The Tiger Trade app also has a “Calendar” tab. Use it to stay abreast of upcoming major stock market events (i.e. major announcements, and the release of important economic data).
6. Before you sign up for a mobile brokerage account…
Just do a final check that the platform you’re using is licensed and regulated by the Australian Securities and Investments Commission. If you’re looking at Tiger Brokers and its handy Tiger Trade app, it has already done the necessary checks. And yes, that means you’re in safe hands.
Just to recap
– Tiger Brokers New Zealand Offers one of the lowest commission rates, from as low as USD$2.98 per trade
– Tiger Brokers has a user-friendly one-stop mobile app, Tiger Trade, with access to global markets and resources/tools
– 24/7 support available
– Speedy, seamless and simple account opening process – offering a hassle-free way to access the global financial markets
Tiger Brokers New Zealand treats all of its clients as privilege clients, with no tiers to segregate them. For those looking for convenience and accessibility to the global financial markets, Tiger Brokers might just be the right broker for you. For more information, please click here.
Download the Tiger Trade app from the Apple App Store or Google Play Store, or access it from your desktop.
About Tiger Brokers
Foundedin June 2014, Tiger Brokers, NASDAQ listed company (TIGR), is an online stockbrokerage. The company is committed to serving the best interests of stockinvestors and being a gateway to build their global portfolios. In 2017, thecompany was awarded "2017 Fintech 250" by CB Insights and shortlistedfor "China Leading Fintech 50" for two years in a row by KPMG China.
TigerBrokers (NZ) Limited (TBNZ) is a New Zealand registered financial service provider
(FSP473106). Tiger Brokers' feature-rich online trading app is designed for self-directed investors to access the thriving stock markets of US, China and Hong Kong and Australia, to build global investment portfolios.Disclaimer
None ofthe information contained in this news release constitutes an offer (orsolicitation of an offer) to buy or sell any currency, product or financialinstrument, to make any investment, or to participate in any particular tradingstrategy. The information is not intended to be and does not constitutefinancial advice, investment advice, trading advice or any other advice orrecommendation of any sort offered or endorsed by Tiger Brokers. Tiger Brokersalso does not warrant that such information is accurate, up to date orapplicable to the circumstances of any particular case. Any expression ofopinion (which may be subject to change without notice) is personal to theauthor and the author makes no guarantee of any sort regarding accuracy orcompleteness of any information or analysis supplied. The authors and TigerBrokers are not responsible for any loss arising from any investment based onany perceived recommendation, forecast or any other information contained here.The contents of this news release should not be construed as an express orimplied promise, guarantee or implication by Tiger Brokers that clients willprofit or that losses in connection therewith can or will be limited, fromreliance on any information set out here.
