The internet has changed the world as we once knew it, and will continue to do so in the future. The World Wide Web has changed the way we shop, communicate and now it is changing the way we invest and even more importantly it is changing the way our financial markets behave. In a time not long ago the only way to buy and sell financial instruments such as stock was to be a stockbroker or be in close communication with one, which is no longer the case. Now, anyone with an internet connection can trade stocks, bonds and other financial instruments twenty four hours a day seven days a week. More-so investors can make transactions at a fraction of the cost of using the traditional stockbroker client format.
Online trading gives users the ability to learn about trading and the markets. Many of the trading platforms allow users to test investment strategies using a virtual market. These virtual markets do not risk any of the “investors” money, allowing them to hone their trading skill before they invest on their own for real. (1) TD Ameritrade provides this service to its customer using a tool they called paperMoney. “PaperMoney® is a realistic way to experiment with advanced order types and test new ideas, while thinkOnDemand lets you practice trading in historical markets without risking a penny.” (2)
TD Ameritrade is just one of the companies that offer customers the ability to trade online. TD goes a step further and allows its client to trade on the go with their mobile trading tools. TD Ameritrade offers mobile trading apps for the iphone, blackberry, android, and windows phone devices. Investors can see real time stock quotes and analysis while they are on the move or simply away from a computer. Investor can use a wide variety of trading tools provided by the service to customize the information that they receive on their online or mobile accounts. (2)
Another way consumers can manage money is through online banking. Similar to online trading online banking allows users to manage their finances anywhere that there is an internet connection. “Of all the major Internet activities tracked since March 2000, online banking has grown the fastest, according to the Pew Internet and American Life Project. Fully one-quarter of all adults, and nearly half of all Internet users, reported being online banking customers.” (3) In addition to banking over a computer, many banks offer apps that allow users to transfer funds, pay bills and track purchases all from their smartphones. The current trends seem to be constantly increasing the speed in which business is conducted.
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