By the end of this month, traders will be able to do online and mobile trading in securities listed on the Zimbabwe Stock Exchange and Financial Securities Exchange.The mobile trading platform will enable traders, both local and foreign to actively manage their portfolios even when they are away from a desktop/laptop. Mobile Trading is essentially an extension of online trading, which is simultaneously going to be introduced by the end of this month.
After the mobile trading platform becomes fully operational, Zimbabwe will be the first Southern Africa to have this trading platform. The mobile trading will be done through USSD and an Android application. And the technology is being provided by Escrow, which is known to have provided the Kenyan Government with technological solutions to issue a mobile traded retail bond.
Above all, Escrow is famed for also helping Untu Capital to issue Zimbabwe’s first mobile-based bond. About the mobile trading platform, Escrow Group spokesperson said; “The launch of the online and online mobile trading is scheduled for the end of this month”. Mobile trading can open the door for attracting new traders who were concerned that they had to constantly call their broker to buy or sell securities for them. Now they can do it themselves using their smartphones.
It’s probably not feasible to try to make a living day trading securities through a mobile trading app, but position trading can be done very well using the mobile platform. Perhaps a good thing will be to do your homework the night before the markets open. Then you can monitor the markets through your mobile application during the trading day.
Source – TechZim