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Binary Options Mobile Trading | Advantages, Disadvantages

Once we started carrying small computers in our pockets in the form of smart phones, the brokers recognized the profitability of offering mobile trading apps to their customers. When the first mobile trading platforms appeared, they were mostly focused towards Forex trading because that’s where all the hype was. Slowly but surely Binary Options trading started to gain a lot of popularity, mainly because of its easy to understand nature and simplicity. And the next logical step for binary brokers was… Mobile Trading for Binary Options. What started as a great feature available to Forex traders only, is now literally at the fingertips of Binary traders as well.

A Forex mobile platform has a lot more limitations than a Binary one mainly because all the tools needed for trading cannot be present in a simple app. On the other hand, Binary Options trading is a simplified form of investing and it can be implemented easier into a mobile app/platform since a lot of Binary traders don’t use all the trend lines, MACD crosses or Fibonacci levels. I am not saying that not using technical analysis is a good thing; I am just stating the fact that Binary platforms use far less technical analysis and tools and that makes a Mobile Binary platform easier to implement than a Forex one.

Binary Options Mobile Trading

Basically, it’s a simplified version of a broker’s platform, available on your smart phone. Some brokers provide their Mobile Platforms in the form of downloadable apps and others offer a mobile version of their website and you don’t need to download anything. As you can imagine, there are some differences between a broker’s main platform and the mobile one because technology restrictions still apply and a 4 inch phone display cannot replace a computer monitor. Yes, there are pros and cons, because every good thing has a downside and vice versa… but more on that later. For now let’s focus on the early days of mobile trading.

Qualities of a good Binary Option Platform

Now we have figured out that you are in the right spot of trading over mobile, so even if you work there are no excuses why you could not even take on a trade that shows positive return.

If you are in constant motion this is defineatly something that you need to take a closer look at and take your decision on what is the best for you. When choosing the right mobile platform for your trading its a must that you take a look at the following:

  • Is the app slow or the speed is ok because timing is important in trading. So you have to take a look when you click something or invest that the app is responding quickly enough for you.
  • Defineatly check how are the charts looking, can you zoom it in, is it functional enough, if you turn the phone sideways can also zoom the chart aswell. When you need toa ccess certain infromation, is it easy to do so.
  • Since mobile tradingis different some brokers also offeridifferent time frames, expiry times for that, so you better make sure if that fits your needs
  • One of the most important things is how stable the platform is, does it crash or freeze because if it is doing that then you are going to have bad time trading and miss the opportunity when it comes.

Types of Binary Options Mobile Platform

There are two kinds of mobile trading platforms:

Web-based binary options platforms

These platforms don’t have to be downloaded and installed on traders’ phones or tablets; instead they can be accessed on the website of the financial service provider. Despite the fact that they are web-based platforms, they were still optimized for a mobile trading experience.

Generally, these types of platforms are somewhat less user-friendly than the app-based investing platforms because they contain a lot of distractions such as the web browser navigational menu and more. However, they are still recommended to those traders who don’t want to install all kinds of applications on their devices.

Application-based binary options platforms

App-based trading platforms are platforms that will have to be downloaded by traders and installed on their phones or tablets. These are the best optimized non-PC options investing platforms because apps offer developers a better flexibility range than browsers.

App-based platforms are sometimes even better and offer a more exciting online trading experience than normal computer based platforms themselves—or at least in our opinion. When the first fully functional mobile platforms were launched we literally fell in love with them.

How to choose a binary option mobile platform ?

Choices, choices… should I go with this broker or with the other? Which one is better in terms of mobile platforms? And what should I do if a broker has a good mobile platform, but they suck in other areas? We are going to do the research for you in a series of the following articles, focusing on Binary Options Mobile Platforms and main characteristics such as speed of execution, expiry times, ease of use, loading times, bugs, possible crashes or freeze issues, overall functionality and last but not least, the looks of the platform. These are all important things for a successful trader; for instance, if you want to trade fast, a slow loading time or a freeze of the platform could be hazardous to your phone’s health; you might want to take revenge on it for a trade that was not entered at the right market price because of a slow mobile platform or because you couldn’t find the “Invest” button.  We are not going to tell you what to use, but we will try our best to provide reliable information and assist you in your quest for a solid Binary Options Mobile Platform. Here’s what our research will be focused on.

Execution Speed

I am not talking about Billy Idol’s hit song, but about a mobile app’s ability to respond quickly to your commands. If there’s one thing that I hate more than a bad app, it’s a laggy one. I don’t want to grow a beard until a chart loads; I know it can’t be instantaneous, but I want it to be fast. A good trading app should be light and with very fast loading times, both when I open it and when I close it. The overall functionality of the phone should remain the same or almost the same. However, the most important aspect is the speed of execution. I want my order to be transmitted and executed almost instantly.

Platform Functions

The chart is small enough, even on a normal monitor, and I know that it will be even smaller on a mobile phone so I want to know if I can zoom in. If I turn my phone sideways, will the display adjust itself? This is more of a personal preference; I like to hold the phone sideways and I know a lot of guys that do also. Is the information easily available? Are the buttons easy to find and does the mobile platform have the same functions like the normal one? These are all important questions and we will try to find an answer for you.

Ranges of Expiry times (30 sec to days) 

Some brokers don’t offer the same expiry periods on their mobile platform. This is important because if I prefer to trade using a certain expiry time, I want to make sure I can do it on my mobile phone as well and I don’t need any unnecessary restrictions. Are all the normal platform features (like live news feed) available on the phone version?

Platform crash, bugs, freezing problem and others

I’ve already found some apps with major flaws in the Asset Index. For example, when I click on an asset, I get a “not found” error. This is not acceptable because if I want to trade that asset, I need information about it. Other problems included charts endlessly refreshing or not loading at all, error messages that informed me that the app has stopped working and I need to force it to close. This also shows us how much the broker cares about their customers. I’m sure that you understand the importance of these issues and how annoying it can get. And just think about how frustrating it could be for that to happen when you are trading real money.

Availability of the platform 

We will be telling you if the mobile trading platform is available for both iPhones and Android phones, which version of the Operating System are supported and if there are some restrictions. For example, some apps are only available for the latest operating systems and you may have to upgrade your phone software before you will be able to use the app. Or maybe you have a tablet and need to use the app on it. We will check the tablet availability as well.

The Overall outlook of the platform 

Let’s be honest: we want the platform to be slick and look cool. Of course, speed and functionality are more important… but a stylish look can be a nice addition. Yes, I know that all brokers that use Spotoption will have almost the same mobile app (and this is valid for all brokers that use the same platform developer), but some level of customization is always there and we will see which brokers care for the “costume” of the app.

Main difference between the computer platform and the mobile app

We will be looking at the most bothersome difference between the app and the computer version of the platform… if there is one. And more importantly is that difference so great that it could make me re-consider using the app?

Pros and Cons of Binary Options Mobile Trading

Because of the simple platform requirements, binary options are very easy to trade with using a mobile. There is no need of so many functions and the binary options platform is very simple. The only thing you need is a chart and details about selected options like payout, date asset and similar. Mobile trading and PC trading is not that different, you can comfortably trade with your iPhone, iPad or Android smartphone.

The newest generation of mobile phones is offering screens which make movie watching viable but also, importantly for binary options, trading and chart analysis. Many traders decide to follow technology and use this revolutionary way of trading where you no longer have to sit at a home PC or laptop to monitor your positions or wait for the perfect setup. You can easily do all the things required directly from an android or iphone application as if it was a computer.

Pros

  • The flexibility is a huge advantage because you don’t need a static PC anymore and you don’t have to bother looking for an internet café on the go. You have the option to trade binary options wherever you have mobile reception. It can be as simple as opening a position on the taxi and close it in the restaurant.
  • Almost all of the binary option brokers offer mobile trading and there is no need for creating a new account. You can also open a demo account on your mobile as well. The mobile screen is much smaller than the PC but mobile applications are very user-friendly and you can still make in-depth analysis.
  • The mobility is another great advantage as well because your mobile is with you any time and anywhere.
  • Most of us have a job or other things to do during the day rather than just watching charts and analyzing price movement. Have you ever placed a trade and then had to go out? It happened to me many times and I think those are the times when mobile trading really comes in handy.
  • Most people have the phone with them all the time, so mobile trading does not create extra concerns like not forgetting the laptop if you leave on vacation or worrying if the hotel you’re staying at has internet access.
  • The ability to trade or check your open trades on the bus, while waiting for the traffic light to turn green, while at work or having a nice night out with friends.

Cons

  • If you’re stuck in an elevator or on a train, there is a possibility of GSM dead zones which means that you will be disconnected and in a critical situation, this can be very frustrating and might even cost you money.
  • The speed of the app might not be the same as the speed of your PC. The internet on your phone can becostly, ask your mobile phone provider for more information in order to void unpleasant surprises.
  • Mobile trading is no exception and I think its main downside is its lack of complexity. Compared to the broker’s main platform, the Mobile one is a stripped down version, with fewer features, less charts and sometimes, even less expiry times or option types.
  • There’s the touch screen problem: sometimes if you want to zoom in or out using your fingers, you can accidentally touch a trade button resulting in an unfortunate outcome.

Of course, there are limitations, but mobile trading does embody technological progress and if you told a trader 5 or 6 years ago that he would be able to trade from his phone, he would just laugh, thinking you are crazy.

Android vs Iphone : Binary Options Mobile Trading

The iPhone is not the world leader in the mobile world anymore but it’s still the widest spread mobile on the market. It has the best technology and always sets standards. Every iPhone uses the same operating system, the iOS. The system is very easy to use and navigate as well and this makes iPhone unique and better than other smartphones available. Trading with your iPhone is very easy as well and that’s why it’s recommended to use a broker that offers a native iPhone app.

The android system can be used by many mobile-phone producers and it’s distinguished from the iPhone. The android system can be found on mobiles made by Samsung, HTC, Sony Ericsson and similar. Android is also the market leader in the mobile operating systems. The real advantage that android has over the iPhone is distribution. The android phones are very similar to the iPhones when it comes to trading binary options. The android system is more open to external software like “Adobe Flash” and that’s why easier to trade binary options with an Android smart phone.

Which Brokers allow Binary Options Mobile Trading ?

Nowadays, there is a growing number of people who have smartphones, therefore many binary options brokers provide mobile trading platforms, so traders can keep an eye on their open positions while they are away.

MarketsDetailsPromotions
24optionCommodities,
Indices,
Stocks
Payouts :89.00%
Min. Deposit:
$250
IQ OptionCommodities,
Indices,
Stocks
Payouts :85.00%
Min. Deposit:
$10
Banc de BinaryCommodities,
Indices,
Stocks
Payouts :81.00%
Min. Deposit:
$250
!
StockpairCommodities,
Indices,
Stocks
Payouts :86.00%
Min. Deposit:
$250
FXGlory BinaryForex,
Commodities,
Indices,
Stocks,
ETFs,
CFDs
Payouts :%
Min. Deposit:
$1
AyrexCommodities,
Indices,
Stocks
Payouts :85%
Min. Deposit:
$5
10Markets BinaryForex,
Commodities,
Indices,
Stocks,
ETFs,
CFDs
Payouts :%
Min. Deposit:
$250
23TradersForex,
Commodities,
Indices,
Stocks,
ETFs,
CFDs
Payouts :91%
Min. Deposit:
$250
24winnerForex,
Commodities,
Indices,
Stocks
Payouts :85%
Min. Deposit:
$200
2options.comForex,
Commodities,
Indices,
Stocks,
ETFs
Payouts :90%
Min. Deposit:
$100
365BinaryoptionCommodities,
Indices,
Stocks,
ETFs,
CFDs
Payouts :85.00%
Min. Deposit:
$200
365tradingForex,
Commodities,
Indices,
Stocks,
ETFs,
CFDs
Payouts :70 – 85 %
Min. Deposit:
$50
AAoptionCommodities,
Indices,
Stocks
Payouts :88.00%
Min. Deposit:
$250
Agea BinaryForexPayouts :%
Min. Deposit:
$1
Alpari BinaryIndicesPayouts :100%
Min. Deposit:
0$
AnyoptionForex,
Commodities,
Indices,
Stocks
Payouts :80 (+20% cashback)
Min. Deposit:
200 $/€/₤
AutoTradingBinaryForex,
Commodities,
Indices,
Stocks,
ETFs,
CFDs
Payouts :78% – 91%
Min. Deposit:
$500
BDSwissForex,
Commodities,
Indices,
Stocks,
ETFs
Payouts :85.00%
Min. Deposit:
100$\€
BNRYForex,
Commodities,
Indices,
Stocks
Payouts :500.00%
Min. Deposit:
$450
BeeOptionsForex,
Commodities,
Indices,
Stocks
Payouts :Up to 85%
Min. Deposit:
BetOptionForex,
Commodities,
Indices,
Stocks
Payouts :87.00%
Min. Deposit:
$100
BigOptionForex,
Commodities,
Indices,
Stocks
Payouts :85.00%
Min. Deposit:
$250
BinaryBookForex,
Commodities,
Indices,
Stocks
Payouts :85.00%
Min. Deposit:
$250
BinaryBrokerZForex,
Commodities,
Indices,
Stocks
Payouts :91.00%
Min. Deposit:
$250
BinaryTILTCommodities,
Indices,
Stocks
Payouts :100.00%
Min. Deposit:
$300
Bloombex OptionsForex,
Commodities,
Indices,
Stocks
Payouts :85%-500%
Min. Deposit:
$300
Boss CapitalForex,
Commodities,
Indices,
Stocks
Payouts :85%
Min. Deposit:
$350

 

The Bottom Line

People wanted their freedom back and they didn’t want to be stuck in front of monitors all day; brokers stepped up to the challenge, developing mobile trading and although I don’t consider it to be a substitute for trading on a computer, it is a brilliant addition and a great alternative when we don’t have access to a monitor. Trading on a phone is definitely not as reliable as trading on a computer and it has its limitations, but the trade-off seems fair to me. You give up some of the features for mobility; for the benefit of being able to trade anytime, anywhere.

As you can see we have covered every aspect of mobile trading. It is a very good alternative when you go on the road and you need to check on your trade, close it or open new one. But for everything else i would still suggest desktop trading over mobile just because of easier access and better visibility.

There are many trading platforms that offer a mobile version of the binary options trading. The smartphones are in trend now and the binary trading services are trying to keep up with it. The great option that people have with mobiles is that you can trade binary options at any time from wherever you are. With the newest generation of Android and iPhone smartphones and the real time technology they offer, your possibilities are endless. The mobile trading has lots of advantages but a couple of disadvantages as well.

———————————-

Binary Option University

All Lessons in Part 1: Mastering Binary Option Trading
Lesson 1: Become a smart Binary Option trader
Lesson 2: Trade Binary options to impress
Lesson 3: Binary Option Trading as a job
Lesson 4: Binary Option trading Addiction
Lesson 5: VIP Binary Options Traders
Lesson 6: How to grow winning habit
Lesson 7: Binary Options Mobile Trading

About the author

David Richard

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