Interactive Brokers, a popular online trading platform, has recently rolled out a new version of its mobile app, capable of being used on any android-based gadget.
Increasing Risk Management Capabilities
The latest release of the app has added a new feature to it: Post-trade improvements. These features allow its traders to instantly see the status of various recently submitted orders, adding the next-step action buttons, as well as other relevant information. This information includes controls like Cancel, Modify, News, Create Alert, and others.
Users of this app are now further capable of managing risk, due to the ability to set up an Exit Strategy on current positions, as well as working orders. Should you wish to create one for a current position, one need only tap the Exit Strategy button on the Quote Details. Should you want to do so on a working order, tap the exit strategy button, or otherwise tap the working order itself and then select the Exit Strategy button.
Previous Versions Incorporating Smart Filtering
The previous versions of the app had innovations attached to it, as well. The innovations of that version included the streamlining of the process of finding a product to trade. This consists of a smart filtering feature, leverage a type-ahead technology to list the products that match the filters the best. This occurs just as you start to type in a company name or symbol, taking priority for things that a user has trading permissions for. A simple tap of the product can then add it to your screen.
It seems that Interactive Brokers have been leaning heavily into its mobile app, updating it with new features quite regularly. Back in February of 2020, the app released a new version that introduced a wide array of improvements to the service’s offering. This includes allowing traders to view the Sentimental Analysis and TipRanks Rating through only viewing the Quote Details for a stock and expanding Analyst Reports, as well. From there, a user needs only Tap Show More, then select either TipRanks Sentiments or TipRanks Analyst Ratings.
Further improvements came for traders that leverage the Market and Limit orders, as well. They’re capable of speeding up the process of order entry through the use of a new, simplified order ticket that Interactive Brokers can offer. In short, there’s quite literally an option in the Order Ticket Menu called “Fewer Options” that a user can press. Pressing it allows for only the fields and options that are mandatory to be seen. The hidden attributes can be shown at any time simply by tapping the “Show More Options” button on the bottom of the Order Ticket, as well.