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Growth reported on mobile stock trading

The Wall Street Journal's video reported Monday, April 7, 2014 on the increase seen in mobile stock trading. The video presenter was Simon Constable of the Wall Street Journal. Appearing with Simon was Sital Patel of MarketWatch who reported on the increase this morning. Ms. Patel reported that E*Trade and Fidelity are seeing higher trade volumes being made from mobile apps. E*Trade stated that about 10% of its 3 million traders will go mobile in the near term. And those mobile trades accounted for about "80%".

A South Korean man walks past a pre-mobile stock index board on May 17, 2004 in Seoul, South Korea.
Chung Sung-Jun/Getty Images/Examiner;

Further, the E*Trade customers only number about 3 million. Fidelity counts about 15 million trading customers. Fidelity's growth in mobile trading since 2013 exceeded 60%. Its app has been "downloaded 3.6 million times". Not to be outdone Scottrade stated that its mobile trades have gone up over 700% from 2010 to 2013. Apparently the retail traders are going mobile because the technology has advanced. Also, people want to be more secure with their trades and investments using mobile platforms. This is likely due to the last financial crash.

However, is increasing your trades on a mobile device the wisest "position" to take? Probably not according to Simon and Sital. In an up-and-down market and economy people may tend to get emotional about their picks. This could lead to an increase in trading with the mobile device in hand. Some folks may be mobile trading as much as 5 to 10 times a month (per Sital) - which "is a lot". Warren Buffett didn't get mentioned in today's mobile trading discussion but is using his approach better? In other words slow down on the mobile trades?

However, you can't do the mobile trades if you don't have the app or apps. Perhaps downloading the mobile apps can increase your trading expertise? Use these links for your Fidelity iTunes and iPad trading apps. Their Android app is available on Google Play. Use these links for the E*Trade iPhone and iPad trading apps. And link here to the E*Trade Android trading app on Google Play. Link here for Scottrade on iPhone and iPad. Link here for the Scottrade Android app on Google Play. For obvious reasons, The Examiner cannot guarantee your success in mobile trading.

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