The rise of trading apps

Money Box

BBC

Business

4.2 • 804 Ratings

🗓️ 10 March 2021

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

More people are trying their hand at trading and investing using online platforms. Much of the trend is driven by trading apps, with a rise in the number of people signing up since the coronavirus pandemic hit last year.

Investors can buy shares in companies and investment funds and keep track of them on their phones. Many of the apps say their services are free to use and commission-free, so how do they make money?

Why have trading apps grown so quickly and what are the risks and benefits of investing this way?

Presenter Charmaine Cozier is joined by:

Martin Bamford, chartered financial planner and head of client education at Informed Choice and

Ryan King, founder of Making Money Simple.

If you're thinking about investing using an app or would like to share your experience, then please get in touch. E-mail [email protected] or tweet @MoneyBox.

Producer: Darin Graham Editor: Rosamund Jones

Transcript

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0:00.0	You're about to listen to a BBC podcast, but this is about something else you might enjoy.
0:05.4	My name's Katie Lecky and I'm an assistant commissioner for on demand music on BBC Sounds.
0:10.8	The BBC has an incredible musical heritage and culture and as a music lover, I love being part of that.
0:17.5	With music on sounds, we offer collections and mixes for everything, from workouts to
0:22.4	helping you nod off, boogie in your kitchen, or even just a moment of calm. And they're all put
0:28.3	together by people who know their stuff. So if you want some expertly curated music in your life,
0:35.0	check out BBC Sounds.
0:41.3	BBC Sounds, music, radio, podcasts. Hello. The popularity of DIY investing has transformed the options for buying and selling shares and investments over the years.
0:49.3	That same demand has also driven down the cost of doing it.
0:53.3	Stock brokers have been challenged by the
0:55.5	emergence of cheaper online platforms. More recently, there's been another move away from
1:00.6	commission charging and flat fees, trading apps. They can be downloaded onto your phone in minutes
1:06.4	and have introduced new and younger audiences to stock markets and their risks.
1:12.2	Joining us to navigate the world of trading apps and answer your questions are Ryan King, founder of Making Money Simple, which shares financial education across social media and a podcast.
1:22.7	Hello, Ryan.
1:23.7	Hi, good afternoon. It's good to be here.
1:25.5	Interested the chat about this.
1:27.2	How long have you been using trading apps?
1:29.4	For about two years now and I've got three different accounts on three different trading app platforms.
1:34.9	Why are they popular? I think the main reason, just because I'm so accessible, traditionally there was quite high barriers to entry to invest in, also quite expensive to invest itself.
1:45.8	Now everyone's got access at their fingertips through their phone.
1:49.0	You can download the app and get started in a few minutes.
	...

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