Singapore: a Mobile Trading Hub
Samsung Electronics and PhillipCapital have launched the newest stock options trading app for Android-powered devices. According to a report from Gartner, the sale of smartphones in Singapore will likely increase to 1.6 million smartphones sold at the end of the year. This means that over one fifth of the population of the city-state will be walking around with a mobile smartphone in their hand. Out of those 1.6 million new smartphone users, it is very likely that some of them will be using their phone for trading binary options or other types of online trading. It is indeed true that online trading from a personal home computer has become one of the best ways to manage investments and Singaporeans want to get in on the latest and greatest trading trends.
The Opteck Mobile Trading App for Singaporean Traders
Opteck has created a high quality mobile trading app that has quickly gained a reputation as being reliable and easy to use. Opteck created this app based on a great deal of research about the requirements Singaporean traders wanted in a mobile trading app. Using innovative technology, traders will enjoy an advanced, professional multi-asset platform that is quick, easy to use and 100% secure. Multiple assets can be traded online with this mobile platform including a wealth of forex pairs, commodities, indices and more. Trading instruments include one touch, range, on demand and high/low.
Other Trading Apps for Singapore Traders
In order to cater to the rapidly growing number of Singaporean traders, several large banks and brokerages in Singapore are now offering trading applications for the most popular smartphones and mobile devices. The latest addition is an app created by PhillipCapital financial group who teamed up with Samsung Electronics to create a mobile trading app that is compatible with the Android operating system. This app is expected to be launched in June of this year. This app is known as POEMS Android which is named after the POEMS trading platform created by PhillipCapital. This platform has had over 500 downloads in the 2 weeks since it has been launched and according to the brokerage that number is expected to grow exponentially. According to Asa Soo who is the head of business development for PhillipCapital, the mobile and internet trading of shares will double over the next 2 years based on the current adoption rate. Soo also says that trading on the POEMs platform already accounts for half of the trading volume the firm experiences. This app enables POEMS traders to have access to their trading accounts from Android tablets or smartphones. Traders can download the app from the POEMS website or from the Samsung app stores. In addition, the app is already loaded onto the Samsung Galaxy S II. Gartner has released statistics that indicate Android phones like the Samsung Galaxy S II will be the dominate choice in the Asia-Pacific region. Other brokerage firms have also created their own mobile trading apps including DMB, Kim Eng and OCBC Securities. The Singapore Exchange or SGX has reacted favorably to the mobile trading trend. Chew Sutat who is the head of securities at SGX states that mobile services give traders more choice and flexibility for managing their positions.