Why are people flocking to stock trading apps? Here are three benefits of investing using a stock trading app as opposed to a traditional broker.
1. Stock trading apps often provide the most advanced trading features
When it comes to revenue, stock investing apps pale in comparison with big brokers.
But much of these big brokers flunk inside their offerings of modern trading features, including fractional share trading, competitive cash sweep programs and instant buying power. Fractional stock trading lets you invest having a specific dollar amount, frequently as little as $1, as an alternative to needing to buy in at the company’s full share price. Before fractional shares, many could not spend money on pricey manufacturers like Microsoft or Google’s parent company, Alphabet.
You can also find cash sweep programs, which provide traders and investors a strategy to make money on the uninvested cash, with many platforms offering as much as 5% APY on idle cash. Meanwhile, instant buying power is really a feature that offers customers instant access to to a specific dollar amount of these deposit to trade with as opposed to the need to wait days for money to pay off.
Some big brokers are already including modern trading features like robo-advisors and fractional stock trading. But stock investing apps still appear to have the advantage on the most innovative features.
2. Most traditional brokers don’t offer direct access to cryptocurrency; stock investing apps do
Though it’s retracted significantly in the last year or so, cryptocurrencies’ global value neared $3 trillion in November 2021, evidence that it’s will no longer a dismissable fad but a far more mainstream way of investment.
Because of this that President Biden issued a professional order in March 2022 directing federal agencies to report policy recommendations on regulatory and legislative actions associated with developing digital assets.
Moreover, an increasing number of Americans see crypto being a worthy investment. Roughly 34% say crypto is a great investment, up 2 % from July, when Finder last ran its survey, or higher from 17% in January 2023.
But most traditional brokers still don’t offer use of crypto.
In order to invest in this nascent asset, you’ll need a merchant account which has a crypto exchange or trading and investing app, in most cases.
3. You’d be hard-pressed to discover a more sleek trading experience than on a stock trading app
While stock trading apps are playing catch-up to big brokers when it comes to available tradable assets, traditional brokers lag behind trading and investing apps in terms of offering intuitive, user-friendly mobile trading platforms. Traditional brokers offer mobile apps, though they’re clunky when compared with mobile-first brokers.
Mobile-first trading platforms prioritize the aesthetics of the trading platform. The trading experience is not hard and intuitive – trading apps shine by making it never been easier to join a forex account and begin investing. When 40% of non-investors worldwide not invest because they don’t understand how or find investing too confusing, simplicity is more and more important.
Trading and investing apps really are a wonderful solution for your uninvested that are afraid to invest.
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