In today’s competitive UK spread betting market, being the company that offers the best mobile platform is a great accolade to have. In fact, spread betting from a mobile device accounts for over half of all trades for many firms. The benefits of mobile spread betting are obvious; it allows for complete freedom and convenience – which is more important than ever now that market news is so readily available.
Mobile Spread Betting vs Desktop Spread Betting
Spread betting companies will design their mobile platform for particular phones. For a list of the major companies and their available platforms please see below. If you are using an iPad, you’ll find that the majority of companies simply run this in a browser as the experience can be matched to a desktop.
iPhone, Android, Blackberry, Nokia and Windows platforms are all available depending on which company you trade with. Here are what we believe to be the biggest downsides to trading from your mobile:
- News feeds
- Blackberry users
Without being able to throw up loads of tabs like you might do on a desktop, being able to switch between markets and market news can be a real pain. If you are planning to rely on your news information to come from your phone, then you may find that trading from the same device becomes a real hassle.
It’s not pretty – we haven’t found one platform that excels on a Blackberry Curve or Bold. The small screen and lack of touch navigation makes trading feel clunky and tedious.
On almost all platforms we found multitasking to be a real issue. If you wanted to leave the app to check a website or make a call you would be forced to log back in. IG Index however, have developed some great multitasking capabilities for their iPhone app.
Major Mobile Spread Betting Platforms
IG Index is the big daddy of mobile trading. Unless you’re working with a Nokia 5110 from ‘98 you’re going to be able to access IG from a mobile. IG provides a dedicated spread betting app for each major platform; and their iPhone version featured in the Sunday Times top 500 apps.
‘City Trading’ is the name for City Index’ mobile suite. They have won numerous awards for their mobile spread betting platforms; the below taken from their website:
City Trading has won numerous awards since its launch in 2009. City Trading was awarded the Money AM ‘Best Mobile Trading Platform’ for 2010 and 2011, Financial Times and Investors Chronicle Award for ‘Innovation of the Year (Mobile)’ 2010 and, more recently, the Shares Magazine ‘Best Online Trading Application’ Award for 2011.
ETX have a slightly more limited platform than IG Index, there are no news feeds and multitasking can be difficult. However they do off a solid platform on both of the following with the ability to view charts and set stop losses.