The rapid and seemingly never ending advancement of technology has made world markets more intertwined and interdependent than ever. The same leaps and bounds bringing this about have also brought accessibility and participation in financial markets like never before.
Average investors now have access to information and tools which just a couple of years ago were only available to professionals and institutions. It's called the democratisation of investment information and technology has made it all possible.
According to the latest ASX share ownership study, 7.3 million Australians own shares. This is a huge 43% of the adult population and second only to the US where 45% of Americans are 'in the market'. With such a significant level of participation it makes sense that investors have an insatiable hunger for products that keep them informed, wherever they are. Of course the best medium to deliver up to date info is on a mobile platform.
To quench this hunger, a swathe of smartphone apps have been developed to deliver all the quotes, news and charts you can put up with. Generally great products, don't be fooled, they're not all the same.
For the tech savvy-est, you're probably after specialised apps for your iPad. Yahoo!7's Market Dash is the latest market watcher in the iPad space, bringing you real time numbers, news and nuances of investment markets around the world. As might be expected, this is a much more interactive, information rich product than what you might find on your smartphone, you just can't fit it in your pocket.
For the wider population of smartphone users, the logically named ASX iPhone app is one of the best in the game for Aussie investors. This app allows a portfolio of 20 stocks to be stored as favourites, with all their announcements displayed and viewable alongside price and volume details. If you like, it can be set up to send you alerts if one of these companies makes an announcement. The only downside is the 20 minute delayed prices and limited charts, but otherwise it's got all you need.
As you'd expect, business information provider Bloomberg is another with a swish looking app that tracks markets. The Bloomberg app features charts, a short company description and basic details on the current days trading for each stock. It's easy to use, covers every stock exchange and has a great news feed. The downside is the focus on the US market and lack of company announcements unless they're 'news worthy', so ASX stock information is a bit limited. Nevertheless, it's a sharp looking app with enough info to get the picture of what's going on.
If you're part of the 57% of adults not dabbling in stocks, don't worry, there's a 'trading' app for you too. iTrade is a virtual trading app that simulates buying and selling stocks, including actual prices, simulated broking fees, real news feeds and all the other bits involved in investing in shares. While only including a select number of shares to trade with, it's a great way to get an idea of the mechanics of the share market before you put your hard earned on the line.
Another app worth a look, despite its US bias, is CNN Money. As is CNN's specialty, news is the strong suit of this app. Chock full of articles categorised into specific areas of interest, the app also has a stash of business news videos. If it's just ASX listings you're after, there are probably more suitable apps for you, but news-wise this is great. Easy to digest content and the added ability to track your US stock interests, CNN Money can be recommended to keep up to date on matters abroad.
The next step up from CNN Money, in terms of depth of news, is The Economist's app. While subscription to the full version comes at a price, the free component allows subscribers to read the 'Editor's Picks' of the current edition of the magazine. It's not a market focussed app as those above, but gets a mention for in-depth coverage of all those important macro issues that shape market movements. Given the length of articles, this is probably one for the longer commute.
If it is just news you're after, the alternative to filling your phone with a bunch of news apps is to download an RSS reader. These readers allow you to customise a news feed by subscribing to whichever news outlets you like. Then, as these outlets upload news content, the articles are listed in a 'feed' so you can click through to those you want to read. It's very convenient as it saves ducking in and out of various apps to get your fill of news.
These are just a few of the better market watching and finance news apps out there to help you keep up to date with your investments. In a market where there's no longer such thing as a lock'n'leave investment, it's important to have an idea of what your shares are doing and why. By understanding this a little more, you'll be better positioned to quiz your broker next time he tries to calm you with some market mumbo jumbo.
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