In a significant way, the evolution of technology has revolutionized the world and especially the way we do things. Every sector has had its share of the changes brought by technology. Technology keeps changing. What’s new today will be old-fashioned in days or months to come. That is why people and organizations must be flexible.
Computers and other communication devices are faster, portable and high powered than ever before. We are looking forward to better devices. Technology continues to make eCommerce more diversified, with the blockchain and cryptocurrencies taking the business to another level.
The stock market has not been left behind. Technology has made it easier than ever before. How is that possible?
- Monitoring the stock market
One of the most remarkable advantage technologies has brought to the stock market is transparency. A few years ago, the stock market had a lot of unknown information. This is because it was challenging for an ordinary trader to get that information. With technology at hand, it is easier for a trader to know what stocks they are purchasing, the company or stockbroker they are using, and the dealings such companies have been into. Having the platform and ability to research before buying stocks has helped many traders avoid another situation like the Albert Wiggin insider trading case.
- Applications for trading
Various trading apps have been invented using new technologies. In the past years, trading stocks required you to travel to get access to the brokers or the company to trade with. This generally reduced the profitability of the stocks since the costs involved were relatively high. The invention of the apps helps traders trade at the comfort of their houses or offices. Artificial intelligence is a revolutionary field changing the way we do our daily routines. Do you know that it is possible to let a robot do the trading? The robot does a particular action when a specific condition is met in the market using an algorithmic program.
- Day trading
Technology has invited many traders to the platform. Today more than ever, millions of people throughout the globe will buy stock and sell them within a short period and at very low risks. Many people take stock trading not as a hobby but as a full-time job. Some make profits in a matter of hours.
- An online market
In the past, brokers used to meet in a specific location and call out to traders. Today, the market is online. Anybody, anywhere in the universe, can access the market. A trader can get information on the best trading stocks online, get a broker online, purchase or sell the stocks online. This makes work more accessible and less costly.
- Fast decision making
Technology has helped traders make the right decisions in a short period. Using the app shows you the market in real-time. Assuming you had bought stocks at 1 USD and its price goes up with a margin of 0.3, you have the choice to either sell it or wait till the margin increases. Technology has also invented software to help you analyze the market and help the trader make a decision that will benefit them.
- Speedy transactions
Unlike the past, where a transaction would take days to be completed, technology has helped traders perform instant transactions. Mobile phones and apps have, in a significant way, influenced this move. You don’t have to go to a bank to withdraw your earnings. Within a fraction of a minute, the funds are deposited into your mobile bank. That means that you can access the funds anytime. It is a tremendous improvement since, in the past, it was a struggle to enjoy your funds since they would take along to get to you.
By all means, the technology has significantly touched phones, computers, Wi-Fi, the internet and the internet of Things has helped the stock market become a sustainable business. The internet has changed how we invest today. In most cases, you will find that before a person makes an investment, they have gone to the internet and researched. This is to make sure that they are not getting into a trap that will lead them to lose their money.