Choosing the Best Stock Trading Apps in Hong Kong
There are many apps available to help people trade stocks and shares, and, as an investor living in Hong Kong, you will likely want to invest online. Mobile technology has changed the way we do everything from banking, shopping and dating; now, it enables sound investing strategies.
Fortunately, apps mean you can purchase stock market investments on your smartphone any time of day or night. However, choosing one isn’t always easy because there are so many.
It’s easy to see why trading apps for the stock market are so popular.
The convenience of being able to buy and sell shares, as well as other forms of financial derivatives, from the comfort of your phone is a hard offer to turn down allowing you to do it all from just one screen.
However, before signing up for any app, be sure to take into consideration the risks you might be taking on if you trade without proper knowledge. Here are some of the best stock trading apps in Hong Kong to help make it easier.
The SaxoTraderGO app from Saxo Bank Hong Kong offers you a userfirendly interface and access to more than 40,000 instruments. They are regulated and well-known as a trusted online brokerage with excellent customer service support and up-to-date technologies to help you trade easier and more efficiently.
This highly-rated app claims to be ‘The World’s Largest Social Investment Community’ (so large that more than 800,000 traders use it). It allows you to analyse and copy the strategies of other experienced traders. You can also trade directly from charts and utilise automated trading options.
Thanks to its patented CopyTrader feature, this app stands out, which enables you to mirror the activity on all selected trader’s accounts, so your investments are automatically managed for you.
With this free program, investors can place trades with as little as $1 per contract. There’s a demo account, too, for those who want to try it out before investing their money.
This advanced stock-tracking app has been designed specifically for use on touch screens. No other stock market app gives you the same level of customisation to monitor stocks across multiple accounts, watchlists and portfolios.
Finally, this app promises 60-second trades (although you can set your limit). It uses price-action charts suited to short-term trading rather than long term investment strategies.
Despite their popularity in Western countries, stock trading apps and other financial technology services in Hong Kong are still relatively new and underdeveloped.
The lack of regulation means far less stringent checking when it comes to security protocols and business practices. This makes it easier for developers to bring these products to market quickly without going through the same approvals as they would if they opened a bank account or launched another similar product.
Although this lack of checks can make stock trading apps much riskier than traditional banking options, it also means that there is more scope for growth and innovation within the sector. However, just because people have access to these services doesn’t mean that they will automatically start using them; the main reason for the slow uptake is probably because Hong Kong is not in a crisis.
This lack of regulation also allows traditional bank accounts to retain their popularity with the local populace. While people are being encouraged to switch to more mobile-based financial services, many don’t require these features right now. There have been reports in the past that have stated that Westerners are more likely to use financial technology than Eastern countries like China and Japan (due to risk aversion, privacy concerns etc.).
However, there is little research done into Asian countries like India or Singapore, leading them to be potentially overlooked by developers looking for new markets where they can try out their products on willing guinea pigs.
It is unclear how quickly stock trading apps will become popular in Hong Kong, but with more and more customers moving towards mobile banking methods, it is inevitable. In the meantime, the lack of scrutiny from financial institutions is a massive benefit for those who decide to use these services as they are less likely to have been duped by any malicious third party. Beginner traders should also use a reliable and reputable online broker from Saxo Bank before starting their investment journey; read more here.