The new ZAR X Mobi has launched, and here are 10 Things that you need to be aware of regarding to the ZAR X Mobile app, as reported by GQ Online.
1. The ZAR X Mobi App enables a retail investor to trade ZAR X listed securities from any device that has an internet connection.
2. The ZAR X App interface is intuitive, and user-friendly.
3. It’s free real-time trade data with full market depth, ZAPS®, charts, and company information. Typically, these services would attract significant additional charges from the exchanges / data vendors.
4. ZAR X’s technology platform is designed to cut costs, significantly enhance transparency, remove complexity, and negate settlement risk for both buyers and sellers of shares. For example, issuers (listed entities) can access this market directly, simply by populating an online prospectus and thereby cutting out significant and unnecessary conventional costs.
5. Know Your Customer and FICA compliance requirements are met easily by registered users taking a selfie.
6. You can easily select a broker on the app in order to trade shares listed on ZAR X and opening a trading account is free.
7. There are no monthly account fees and the low transaction fees allow investors to invest small amounts of money across a broader number of shares, thus spreading the risk of share concentration. This wasn’t practical before, due to the high transaction fees associated with equity investing.
8. People who’ve never had access to the stock market now have both the freedom and the means to trade, and small businesses finally have access to capital. The pool of investors for all companies reaches all the way down to grass roots.
9. Users can register as either a Watcher or a Trader and can track the value of their portfolio. Along with real-time information on portfolio holdings which shares are owned and how many along with cash on hand and open orders in the market.
10. App users will also get a visual snapshot of what their portfolio has done over a period via a graph. They’ll also receive notifications via the app for placed trade instructions, matched orders in the market, new listings, cash movements and ZAPS® announcements on corporate actions.