Home Investment Investing Knowledge iOCBC Introduces Mobile Trading on the iPhone

iOCBC Introduces Mobile Trading on the iPhone

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OCBC Securities is a brokerage which actively targets the young investors market, with initiatives such as the “Young Investor Pack". It has now upped the ante, with mobile trading on the iPhone, which works very well for the most part.

The “iOCBC TradeMobile” application can be downloaded free-of-charge from the Apple AppStore, The user name and password are the same as those used to log into the regular iOCBC Internet Trading portal.

Positives

  • Interface. The TradeMobile interface is intuitive and speedy. Upon logging in, the first screen that greets you is the market top-volume screen. There are five main navigational icons at the bottom of the screen: “Top 20”, “Watchlist”, “Trading”, "Indices” & “More”. Tapping on “More” brings you to a screen that lets you change your password or log out of TradeMobile .

  • Live prices. One of the main advantages of TradeMobile (and iPhone applications in general) is that, unlike browser-based mobile portals, users do not have to click on "refresh" to get live prices.
  • Markets. Besides SGX, all the markets you already have access to in the Internet Trading portal are also available on the mobile platform, by tapping on the “Mkt” button near the top-middle of the “Top 20" screen.
  • Watchlists. Watchlists saved on the internet platform are preserved and users would not have to recreate their watchlists.
  • Ease of trading. To trade on a stock, a user would just have to tap on the grey arrow located to the right of a stock, whether you are at the “Top 20” or the “Watchlist” screens. The usual options, such as "cash" or "CPF" trades can be selected. As can be seen in the sequence of screen captures below, it takes just 2 minutes from selecting a stock to buy via a watchlist, to getting an order confirmation. Orders placed via the web-portal also simultaneously appear on the internet portal. Interestingly, you will be logged out of the mobile portal automatically if it detects that the same account is being accessed via the regular Internet portal.
  • Search. A stock-search function also exists, based on "Start", "Includes" or "Exact" criteria.

Drawbacks

  • Basic features. The mobile platform is very basic and does not show information such as the allowable trading limit available for an account. Sophisticated investors who rely on features such as “Charting”, “Queue Track" or “Time and Sales” are out of luck. Information related to the margin account (if you have one) and current portfolio holdings are also non-existent.
  • iPhone only. The iOCBC TradeMobile works only on the iPhone, while competitors' offerings (such as UOB KayHian's mobile trading portal) work across all the other major smart phone platforms.
  • Making or taking calls. If you make or receive a call, you would need to log into TradeMobile again.
  • Stability. Occasionally, the TradeMobile application crashes and exits by itself, but such incidents are few and far between.

Conclusion

The iOCBC TradeMobile works very well in replicating a trading portal on the iPhone’s miniature touch screen.

Inevitably, some features have been sacrificed in keeping the interface simple, perhaps rightly so. The mobile platform is not intended to replace the internet platform, but would be very useful in times when one does not have access to a computer.

In launching the first such application for the iPhone in the Singapore market, OCBC Securities has set a high standard for other local brokerages to follow.

 

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Last Updated ( Friday, 04 June 2010 17:57 )  

Comments  

 
0 #2 starbugs 2010-05-24 14:33
Admin, Hiap Seng is on your shortlist? It just announced huge profit jump today.
 
 
0 #1 2010-05-16 14:05
Cool!

Believe that this will lead in an increase in trading volume overall. Looking forward to an Android version.

www.passivelifeincome.com
 
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