There can’t be many industries that haven’t been affected in some way by the internet and advancing technology.
Trading and investing in stocks and other assets has been significantly impacted by new tech, and almost entirely in a positive fashion – suddenly, investment options are accessible to far more people.
There are lots of other areas in which trading has been made easier, more efficient, and more cost-effective by advancements in technology, as we will now explore.
Choices, choices, choices
It wasn’t that long ago that trading was carried out over the phone or occasionally face-to-face as investors met with their broker.
Today, there are hundreds of trading brokers available online. While the quality of service offered tends to differ wildly, generally speaking, there are plenty of excellent online brokerages to use.
You can assess stacks of different trading choices, from forex and stocks to assets, commodities, cryptocurrency, and more besides, and the best bit is that you can sign up for an account in a matter of moments.
Lower costs &fees
Because trading is now a more competitive marketplace, brokers have to compete with one another in a mad scramble to take on new clients – one upshot of that is that fees and costs have typically started to come down.
There are still spreads and fees/commissions attached to the opening and closing of positions, but these are a lot more cost-effective now that there are more brokers in operation.
Advice and guidance
Technology has helped newcomers to trading to access the kind of support they need to advance their bankroll.
So-called‘robo advisers’ are automated algorithms that carry out trades on the client’s behalf, building a diversified portfolio in areas that interest the trader. The fees are a cut of any profits you make.
Gone are the days when you would need to fall back on the services of a financial adviser and their extortionate ‘service charges’!
Research and learning
Readers of a certain age will recall how difficult it was to attain information and learning in a pre-internet era.
But Google has been a fantastic help for the dissemination of information and learning, and you can learn a vast amount about a topic with an hour or two’s cursory reading – of course, in trading, there is no substitute for learning ‘on the job.’
There is a wealth of trading information available online, be it from brokers or industry experts, both in written and video form. You can learn about charts and signals, how to read the market and which tradeable assets are the best investments in any given set of conditions. It’s an invaluable resource you MUST make the most of if you are to be successful in your trading.
Mobile trading:The newfrontier
Accessibility to super-fast internet and Wi-Fi has propelled forward the inexorable rise of smartphone technology.
No more do you have to wait an eternity for web pages to buffer and load on your handheld device, with browsers and apps working in the blink of an eye.
So you can trade on the move, wherever you are, thanks to broker apps that let you check the position of your trades – enabling you to close when you reach your profit target or open new trades when you see a new opportunity on the horizon.
Advanced technology is helping traders in many different ways, and happily, the vast majority are overwhelmingly positive.