Best mobile trading platform in Kenya
The main feature of today's times is dynamism and mobility. The modern man is in constant motion. And if you want to be successful, you have to always be 'on', here and now. That is why various mobile applications are so popular now, which allow us to access all sorts of websites and online shops directly from our mobile phones. We can order delivery of food, clothes, medicines or even flowers through a mobile app, track a parcel, book a hotel, order a taxi, listen to video lessons and so on. Virtually every transaction is now available to us on our mobile phones.
Business has caught the needs of the modern client, and now every successful company offers a convenient mobile application to enable you to buy goods or order services directly from your phone. Trading in this regard is no exception. The best brokerage companies have developed mobile versions of their online trading platforms, through which a trader can access necessary information at any time, track investment market news or even perform necessary operations.
The high level of competition in the brokerage services market has encouraged a wide range of trading platforms. Brokerage companies are offering increasingly innovative methods and tools, competing in practicality, convenience and functionality.
We have reviewed different mobile applications and have selected, in our opinion, the best mobile trading platform in Kenya.
Why do we believe that IQ Option is the best mobile trading platform? Because the mobile version of this platform is an exact replica of the full, desktop version, with full functionality and great graphics. In addition, downloading the application and registering takes a few minutes, depositing and withdrawing money instantly, the whole set of assets, as well as trading tools, indicators present, available chat to exchange information and online support. Practically, by downloading the application, you get "exchange in your pocket".
It is convenient, fast and practical. Let's take a closer look at how it works.
Easy app download and registration process
Downloading the mobile version of the online trading platform is extremely easy. In fact, there is no difference from downloading any other app. You will need to go to the playmarket on your mobile and type "IQ Option" in the search box. The application is available on iOS 9.0; Android 4.4 and does not take up much space (74MB).
The process of installing the app on your mobile device is simple and doesn't require any special knowledge. This is undoubtedly a big plus when you start your business.
Even if you are using the platform for the first time, you will immediately get familiar with the functionality. The design of the platform is very well thought out, with all the options clearly described and visible on the main screen, with the main operations ("buy" and "sell") highlighted in a bright colour.
The mobile version will have all the same features as the desktop version, with one exception: you will not be able to open multiple trading windows on your screen. Otherwise, you will have full access to all the features of the platform, including indicators, stop orders, as well as news, chat, and other functions.
In addition, thanks to the flexible settings, you will be able to customize the appearance of the workspace to your liking, choosing the colours as well as the chart display type (line, candlestick, bar or Heikin-Ashi).
The mobile version of the platform also allows you to choose the charting period for an asset, ranging from a few minutes to several years. The interface of the platform is really easy to use, because you are free to choose any time interval to track the indicators, any indicator or a combination of several indicators, customize the design, choosing the chart type and colour scheme of the background and candles (bars), optional output on the sidebar the information you need it could be a news feed, chat, real-time quotes and so on.
That is, in this case, the concept of "user-friendly interface" is not just a hackneyed phrase-advertising for a broker, but really works for the convenience of the trader functions and tools. Everything you need is right there in the trading room of your app, with configuration features enabled to make it work best for you.
Wide range of financial instruments
The platform offers clients the opportunity to trade over 200 assets: including currencies, commodities and stocks. On the platform you can trade shares in Tesla, Netflix, Spotify, Alibaba, Microsoft, Disney and other market giants, as well as oil, gold or invest in ETFs, buy and sell cryptocurrency and speculate with CFDs, trade binary options or choose one of 25 currency pairs in forex. As you can see, the choice is really good and all these assets are available without limitations in the mobile version. You can easily navigate your way through the selection of the right asset using the mobile app. Bright graphics and recognisable shortcuts will make it easy to choose the right one. Choose any of the offered assets:
- Trade stocks and plan long-term investments on one platform. Choose from over 180 stocks. Invest in CFDs on shares of leading companies and industry giants, without actually owning them. A CFD (Contract for Difference) is a financial instrument that allows you to trade on the movements of stocks, regardless of their direction. The key advantage of a CFD is that you can speculate on the price movements of an asset (up or down). Alternatively, choose the dividend method of investing and receive dividends.
- Invest in sectors of the economy. From familiar things to innovative technologies, the platform gathers all sectors together, so you can always make the right investment decision (energy, health care, real estate, telecommunication services, utilities, information technology, selective products, finance, materials, industry, everyday goods). Speculate on CFDs on hard or soft commodities such as gold, silver, oil and grains.
- 60 Options.
- Forex Discover and invest in well known, obscure or exotic currency pairs, using effective spreads.
- 23 ETF options. Diversify your investments with CFD exchange traded funds, with several assets in one basket.
- Indices Choose from a list of CFDs on indices that are widely invested in and represent a specific market sector or national economy.
Handy trading tools
There are plenty of tools on the platform to make trading easier. With features such as stop loss/take profit, negative equity protection and trailing stop, you can control your profit and loss by setting a critical level for them in advance.
A Stop Loss is an instruction to the broker to close a trade when a certain level of price loss is reached.
Stop Losses help traders to reduce risks in case of various technical failures. Suppose that at some point the trader's connection to the trading service is interrupted. He cannot send orders to the broker's server, including orders to close a trade. If he took care of setting a Stop Loss beforehand, the broker will automatically close the transaction when the level is reached. But if the Stop Loss is never set, the loss can be considerably larger.
One of the varieties of Stop Loss is the so-called trailing stop order, or Trailing Stop. The essence of this order is that the level of Stop Loss goes up after your profit, being at the same distance from it.
Take Profit is a type of pending order to the broker to close the transaction when the price reaches a certain level of profit. If the price reaches a Take Profit level, the transaction will close automatically and take the profit.
Additionally, in the mobile version (as in the full version) there is also available a "multiplier" option, which includes leverage. Keep in mind that using leverage significantly increases the risk of your trades, so do not use it if you are not sufficiently experienced in trading.
Availability of indicators for technical analysis
Technical analysis indicators are algorithms, which give an indication of future prices, using data about quotes for a certain period of time.
Every technical analysis indicator is based on a formula. This formula is used to make calculations. Depending on the type of the indicator or its purpose, the formula may vary. For instance, one formula calculates the average price for a certain period, another calculates the closing or opening price of the market, and so on.
The platform we are considering has almost all possible technical analysis indicators. While many trading platforms do not have a mobile version with indicators, here you will be able to choose the one you want and see the current trends even with a mobile app.
Of course up-to-date information is always important for a trader. Therefore the broker did not make the mobile version of the application lighter by omitting the newsfeed. Like in the desktop version, it contains news. Read news by company, or set up a general news feed and notifications. This way, you'll always have your finger on the pulse of world events.
Up-to-date information is a trader's trump card. By tracking various economic and political processes you will learn to analyze their influence on the situation on the investment market and make correct predictions in the future.
In addition to the information in the form of current news, the platform offers a whole educational section with video tutorials. This section contains all the theoretical information, from the basics of investing to complex methods of technical analysis. Lessons are described very clearly, in simple and understandable language, with live examples on the charts.
In addition to the tutorial section there is a demo account, a special training account, to which the system automatically credits a dummy amount of virtual money in the amount of $10000. Because the account is fully identical to a real one, you can easily practice making different operations. Watch the lessons, make trial transactions using the demo account, and track the results. In this way, you will gain your first experience, but you will also avoid losses.
Other advantages of the mobile trading platform
In addition to all of the above, it should be noted that the mobile online platform also has advantages such as 24-hour customer support in the form of feedback in 17 languages, low deposit (from $10) and withdrawal limits (from $2), multiple deposit and withdrawal options, instant execution of operations, Real-time updates, quick synchronization of all your applications (desktop, tablet and mobile versions are synchronized automatically and instantly), reliable data protection with two-step authentication and tracking of all active applications. The platform has received numerous awards from worldwide competent institutions, including the Best Mobile Platform award from International Finance Magazine, a seal of approval for a mobile platform that allows you to trade anytime, anywhere.
Try it and experience the best mobile trading platform in Kenya. Download the mobile app today, open a demo account and enjoy the flawless performance of the perfectly designed software for online trading.