With low transaction fees, it becomes possible to trade on almost any stock market with only a limited lag in the transaction taking place.
What can stock tracker applications do?
Historically, stock trackers allowed you to monitor the state of your portfolio. You could enter the stocks you owned and indicate a quantity. This allowed you to have a complete view of your portfolio, with a data refresh rate that often had a 15-minute delay.
With the advancements in software development, the concept of the API was introduced as well. Instead of building monolithic software applications, companies such as Amazon started building smaller applications that communicated with each other. The communication between these applications was also known as an API: a set of pre-configured messages that could be communicated between applications. Using APIs, stock trackers are now able to integrate with a broad range of different brokers and markets.
PSD2 as a cornerstone to financial innovation
Connecting between brokers, banks, and other financial institutions has been made possible through the PSD2 regulation. This requires financial institutions active in the European Union to open up their systems to interact with other financial institutions and services as per the need of the trader. PSD2 has also been adopted by financial services in the United Kingdom.
That’s when it starts to become interesting
From your favourite UK-based broker to a US or China-based player: stocks tracker applications allow you to connect to brokers all over the world. This enables you to have all your stocks in one single place with the latest data in real-time.
One app to rule them all
A leader in this field is Delta. The Delta app provides the possibility to track both stocks and cryptocurrencies. It provides a clear overview of your total portfolio. The app allows you to keep track of your investments and is able to compare the current status of your investment with the status of the day you started investing. If you want to closely follow the developments of interesting markets, you can easily add an alert. This way you will be the first to know about the latest developments and you can act on it directly.
Trading in other currencies
Traditionally, you would need to exchange your British Pounds for Chinese Yuan if you would like to buy a stock on the Shanghainese stock exchanges. However, with modern brokers, you can just use an account that immediately converts your currency to the Chinese Yuan. This limits your exposure to exchange rate fluctuations. In the past, it was required to have a Chinese bank account in order to trade on the Chinese market. Nowadays this has become easier through online banks such as Wire. They allow you to have ‘wallets’ in different currencies which can be linked to a broker account.