Shortcomings of binary options mobile trading apps compared to desktop trading

Binary options mobile trading may be the latest fad and for obvious reasons. The improvements in the functionality of trading binary options from smartphone and tablet devices makes it possible to trade binary options from anywhere and at any time. However, despite this freedom and flexibility that mobile binary options trading has to offer there are a few limitations that come with mobile binary options trading. In this article, takes a look at some of the limitations of mobile binary options trading.

Scope for Limited Technical Analysis

With mobile binary options trading, technical analysis is very limited, to the extent that it not possible to conduct a thorough technical analysis before you trade that binary options contract. Agreed, that there are a few finance apps that enable you to draw trend lines and a few indicators but overall the scope is quite limited to the number of indicators available as well as the instruments or securities that you want to trade.

If you are a binary options trader who follows a trading style based on technical studies of the charts, then mobile binary options trading can be a bit restrictive.

Your favorite type of binary options might not be available

Binary options has grown from the traditional and simple Call/Put options into various exciting flavors such as short term expiries like the 60 second expiries as well higher paying binary options such as High Yield Touch/No Touch options. Trading binary options from your desktop gives you access to trade any of the binary options contracts that the broker has to offer, but with mobile binary options trading this choice is limited. While we are unsure as to why binary options brokers would limit the choice of the different types of binary options contracts via the mobile trading apps, if you happen to be one of those traders who have designed and developed a trading strategy for a particular type of binary options contract, then mobile binary options trading could be limiting in this aspect.

It is best to check with the binary options broker or read our mobile binary options broker review here to see if the binary options broker offers the type of binary options contract that you are accustomed to trade.

Your trades might be susceptible to data connections

While technology continues to evolve, it is yet to catch up in terms of connectivity, especially the 3G services. For most smartphone users now-a-days, 3G coverage is adequate as long the trader is within the coverage area. But things can change if you head off someplace new. While it is easy to get carried with marketing images of traders trading off their iPads and iPhones from the beach, make sure that you are in a well connected area. As always, trade only when you are a familiar Wifi network and know that the connection is strong. Occasional connection losses can damage what would be a perfect trade. While this might seem trivial, there have been many occasions where mobile binary options traders have had to face harsh losses ignoring this simple yet important aspect.

Banking is limited with Mobile binary options trading

Banking features such as withdrawals are virtually non-existent with mobile binary options trading apps. A few brokers allow for withdrawals from the mobile optimized Webapp interface. Depositing features are common with most binary options trading app, but is limited to Credit Cards and eWallets. If you are accustomed to using other means of depositing, it is better to access your desktop PC or laptop in order to make a deposit.

Your smartphone or handheld device performance can affect mobile binary options trading

Issues such as low battery levels, using too many apps simultaneously or not having enough memory spaces can be some of the many other technical reasons that could either slow down the performance of your binary options trading app. If you have been using your smartphone for prolonged period of time, it is better to first charge your phone before you tap that binary options app on your smartphone. Slow performance or interference of other apps can easily affect the functionality of the binary options mobile app as well as the mobile browser interface.

Do these shortcomings of mobile binary options trading mean you shouldn’t trade?

No. The above shortcomings are a mere reminder from to ensure that you get the maximum mobile binary options trading experience. The above pointers are to be kept in mind so that there is no interference when you are placing your binary options trades from your smartphone devices.