We all know that mobile apps are the present and the future of share market trading. Today, we have less time and more complex lives than we ever did before. Probably you already own and use a stock market app. However, did you ever feel the need of conducting a reality check and see if your app has enough resources to earn space in your android phone? Here are a few key things that your app must have, and if it doesn’t, then its time that you changed your app.
- Watchlists: Every good share market app must have provision to allow you — its user — to keep a close eye on the portfolio. This will give you a sneak peak to your favorite quotes, even if you don’t own them, and are considering it for future purchases
- Notifications and Triggers: Let’s be practical. We don’t open all of our apps frequently. And if you are a passive investor, the probably of you doing it is far less. But what if during that time your favorite stock is hammered in the markets? You’d like to be notified, and since you probably use your phone daily — like most do — you would appreciate inbuilt notification and trigger ability. This will make your overall trading experience better, and you can concentrate on another important task while delegating triggers to your app.
- Mobile Trading: A share market app would be nothing more than a mere aggregator without this feature. Why even bother about downloading one if it doesn’t allow you to trade? You can rather use a browser and dig into some of the finest websites which are perfectly mobile friendly. If an app doesn’t allow you to trade through your mobile, then it isn’t really a share market app.
- Multimedia: Any stock market app must have videos, and other multimedia content in addition to other information. Because often, markets are impacted due to global situations etc. and tuning into a show casting a stock market expert can help you figure that out. So any app should, by the rule of thumb, have multimedia content.
- Incentives: This isn’t essential, but is important. This is for two reasons: Once to get the most out of our available space, and the other to determine the seriousness of the developers. It is important to note that not everyone puts in the considerable amount of resources in building an app. If you think that an app is everything that is installed on your phone, then you are wrong. For, there is a backend infrastructure and a huge commitment of resources that separates the best from the rest.
There are numerous stock market apps available in India today, and you can try them and see which one fits the bill. However, as far as these six pointers are concerned, only a handful of apps match the criterion. One notable app is IIFL Markets, that have all the first four features and attractive incentives like free access to quality research reports for its users. So evaluate your app now and see which one resonates the most with your needs.