Scottrade this week debuted a new mobile trading application for investors looking to access real-time research, news and analysis and execute trades from their smartphones and iPad tablets.
Company officials said the free app is now available for download for iPhones, iPads, Blackberry or Android mobile devices from all of their respective mobile application websites.
"We created the most comprehensive mobile trading app for self-directed investors whether they have an iPhone, BlackBerry or Android,” Derrick Brooks, assistant director of retail web services for Scottrade, said in a statement. "Our design team set out with the customer experience as the top priority; that drove every decision."
The application lets users monitor all their investments, generate investment ideas from research and analyst views and execute trades of stocks and exchange-traded funds (ETFs) through their Scottrade accounts.
"This app has everything a trader needs," said Chris Carril, senior retail web services mobile channel analyst for Scottrade. "The idea generation is truly unique because it enables investors to research and vet investment opportunities from anywhere. In developing Scottrade Mobile, our team saw a need for research and information that wasn't being offered in other mobile apps."
In addition to the basic blocking-and-tackling functionality, Scottrade Mobile lets investors research ETFs and filter results by a variety of criterion including the top year-to-date performers. They can also research potential investments with Standard & Poor’s ratings and commentary and set up their accounts with automatically synched watch lists for stocks and ETFs they're tracking.
Non-Scottrade customers also can take advantage of the app and access features, including market research and delayed streaming quotes. Additional benefits designed for customers include secured login account management features and access to premium content.
Company officials said the design team conducted formal usability testing and surveyed customers to better understand how investors and traders would use the app they were building. Nearly all indicated they are most interested in viewing positions, checking account balances, making trades and watching streaming quotes on their mobile device. Most respondents noted they check their accounts, get quotes and read news. About one-third place trades or do research.
Scottrade’s team took the survey feedback with them to the design table and used social networking site Facebook as a sounding board for the application's design and features.
"The team took cues from existing, user-friendly apps in creating Scottrade Mobile’s design," Carril said. "Our app caters to a variety of investment techniques and strategies. We didn’t want to make a 'less-than' experience just because it’s a mobile device and not a personal computer."