Smartphone trading dangers

[princeplanet]

Just got my first iPhone. Can I use it with confidence in place of my usual wireless laptop to perform Commsec trades? Is the internet on smartphones more prone to security infringements? If so, what are the safety measures to put in place?

Thanks in advance...

 

[stewiejp]

In the same boat - got one of those new Galaxy S3's a few weeks ago - what a toy! Don't have the "faith" to do online banking or trades using the thing yet but find the stockmarket "apps" handy for keeping an eye on things.

Having said that, I never used to trust internet banking in the beginning, but do it all online now.

I'd like to think it would be safe. Not being a "day trader" it doesn't affect me, but I'm sure it would be an invaluable resourse to some.

 

[CanOz]

I am an Interactive Brokers client, and an iPad user. I have the TWS App installed as a backup if our Internet fails. My iPad has the 3G capability, so I can log on and manager the position. I wouldn't use it to trade as its a little clumsy and too easy to make fat finger errors.

Trading takes focus, concentration, and accurate execution of your analysis. I'm not sure how this can be confidently accomplished in the long term for a profitable result using a device purposely built to allow you to communicate in circumstances where this is not always the case.

CanOz

 

[stewiejp]

Trading takes focus, concentration, and accurate execution of your analysis. I'm not sure how this can be confidently accomplished in the long term for a profitable result using a device purposely built to allow you to communicate in circumstances where this is not always the case.
CanOz

It wouldn't be a profitable tool to use "long term" or as the only thing you are using to research/buy/sell shares, more a convenient way to check a stock price or two when out and about and make the occasional trade.
Eg. if you were at home during the week, were going to make a trade but were distracted by the kids. You realise this later while you were kicking the footy down the park - fire up the "app" and make the trade.

I think the OP was more concerned about how "safe" it is to use a mobile/wifi phone app, rather than computer to make trades - something neither of us has addressed.

 

[hardstylez]

I think a tablet would probably be the most effective way of analysing and placing trades on stocks when you are on the go. Perhaps getting an Ipad to access your iPhone internet and look through stocks and placing trades that way. I have been considering the same thing since I am always somewhere else other than my computer.