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According to the statistics of April 2010 from the Office of the Telecommunications Authority, each of us now owns an average of 1.8 mobile phones, one of the highest figures in the world. In recent years, we have seen the introduction and wide popularity of smartphones that give us access to powerful features like web surfing, GPS, email and mobile apps. In our wired up society, it makes sense for us to be able not just to manage our contacts on the fly, but also to trade and manage our finances. That's where the power of mobile banking comes in.
If you have ever forgotten to pay your credit card bill or if you are simply sick of the hassle of managing bills, mobile banking could give you a big hand in helping you handle personal finances. Mobile banking services in the market usually provide card repayment, fund transfer and balance enquiry services, allowing you to manage your finance quickly and easily wherever you are.
What's more, mobile banking is not just convenient. It is fast. Most services give you the ability to trade securities in seconds - helping you place, modify |  |
and cancel trading orders via your mobile phone. You can even get real-time stock quotes and check securities trading status, so you can grasp investment opportunities anytime, anywhere.
There are three things to look for when you are selecting a mobile banking service. First and foremost is security. 128-bit Secure Socket Layer is the standard, and it will keep your account secure. Second, check the user interface - you want one that is simple to use yet powerful enough for quick, easy trading. Finally, check whether the service provider imposes an extra service fee. Additional considerations may include the requirement that you use specific mobile operating systems or web browsers.
 - Some banks provide different applications for different mobile phones. Download the one that is compatible with your mobile phone for the optimal experience.
- Never use someone else's mobile phone to login to your mobile banking platform, and do not store your login ID and password on your own phone; or other people may be able to access your account if you lose it.
- Avoid using public and unencrypted Wi-Fi to login to your mobile banking platform. Always use a pre-set and reliable Wi-Fi network.
- Do not login to mobile banking in a crowd, especially if your browser does not automatically display typed passwords as asterisks.
Risk Disclosure :
The following risk disclosure statements cannot disclose all the risks involved. You should undertake your own research and study before you trade or invest. You should carefully consider whether trading or investment is suitable in light of your own financial position and investment objectives. You are advised to seek independent financial and professional advice before you trade or invest. You should seek independent professional advice if you are uncertain of or have not understood any aspect of the following risk disclosure statements or the nature and risks involved in trading or investment.
Risk of Securities Trading
The prices of securities fluctuate, sometimes dramatically. The price of a security may move up or down, and may become valueless. It is as likely that losses will be incurred rather than profit made as a result of buying and selling securities.
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