Trading stocks online has a bevy of advantages (and disadvantages). Advantages include being able to check your stock portfolio anywhere as long as you have an Internet connection, absolute control over your portfolio, access to up-to-date information, competitive fee structures and the ability to access different markets. Even if you don’t have access to a computer at your finger tips while you are travelling; you can always use a cell phone. Online trading can give you accurate data on how different stocks are performing so you never have to miss a bargain.
Because online trading is such a massive market there is a lot of competition between brokers to get your business. Brokers are constantly out doing each other in the form of fee reductions, extra functionality and conglomerating services into a single access point. Instead of chasing data when attempting to make an informed decision you can just go to a single place to get all of the information you need. Some online brokerage services even send you messages to your cell phone that warns you of when may be a good time to buy or sell particular stocks. If you have a smart phone you make the transaction the second you receive the message.
The competition between brokers is not the only advantage of having multiple brokers available to serve you. It is also a massive source of information in itself. You can get real advice from multiple sources. Because of the inherent fluctuations in stock prices that can change within minutes – having people who cast a human eye over the data to ensure that their own information is up to date can mean the difference between purchasing a stock that will never recover and purchasing a stock that may double in value over the course of a day.