easyMarkets launches new mobile trading app
The app offers a suite of trading tools including the industry-first dealCancellation feature.
easyMarkets has launched a new trading app based on its online platform, offering traders a host of tools and helpful features at their fingertips to allow easier access to markets.
The mobile platform offers all the features available to traders on the easyMarkets online platform however in a more simplified, easy-to-use way.
I recently sat down with easyMarkets chief operating officer Daniel Byrne to chat about the tools the new app offers and see first hand how it will help both new and experienced traders.
“We’re all spending a lot of time on our mobiles and tablets, so we developed an app that enables clients to look at real time pricing for global markets,” Byrne said.
“They can get real time quotes, they can view very intuitive charts to make decisions on when to buy and sell different assets. It gives mobility and ease of access, so you can trade on the train, you can trade on the ferry, or you can even trade during date night!”
easyMarkets app. Source: easyMarkets
The most notable feature available on the new app is dealCancellation; a unique tool developed by easyMarkets allowing traders to cancel a losing trade within one hour for a $35 fee.
“If I wanted to do a deal cancellation trade, it’s as easy as selecting the option on the app. What that tells me is that I can protect that trade for the first hour against any losses for a premium of $35,” he said.
“We have a huge amount of clients coming to us just for this feature. They’re coming to us because they may have experienced market conditions where they’ve been burned before, and they love the idea of having a known quantity of risk on a trade and the ability to jump out in the first hour if they get it wrong.”
“This is really what differentiates us from all the other brokers out there. Nobody else has this feature. It’s unique. There’s no other broker that offers deal cancellation,” Byrne said.
The development of the unique dealCancellation tool was a response to volatile market conditions.
“We’ve never been in a time where there’s higher geopolitical risk. People are wary. It seems like the market is waiting for an excuse to move. It’s like the market is a bit bi-polar at the moment. It’s swinging from confidence to fear really often. And so this type of feature is very timely for traders,” Byrne said.
The app also gives notifications in real time for significant market events, for example if Gold reaches a 30-day high, giving traders the opportunity to seize more market opportunities. Byrne assumed me that these notifications are very selective, so traders won’t be getting alerts all day long.
The new app also offers a sentiment register, allowing traders to get a clear picture of what others are doing at the same time for a particular trade, and a news stream which is updated constantly throughout the day providing information on current market conditions in real time.
“When you combine the charting, the news, the analysis, the sentiment register, you’ve got a whole lot of wonderful tools that give you a way to understand what’s happening in today’s market conditions. Then you can back it up with dealCancellation. So you’re ticking a lot of boxes on a profitable trade,” he said.