Technology has been busily transforming every aspect of our lives over the last few decades, and the world of investment has not been immune to the changes.
In fact, the pace of change driven by technology has been accelerating since the late 1980s when the electronic stock exchange revolutionized the way that stocks were traded. Since the ASX switched to become fully electronic back in 1990, Australian investors have been able to benefit from a series of technological innovations that has altered forever the way that we invest. In fact, old-time investors from the 1960s and 1970s would barely recognise the modern investing world! Here are some of the essential pieces of technology that modern Australian investors have come to rely on.
Broker comparison tools
The single most important technological breakthrough in Australian investing was the move to the internet, which offers the modern investor a host of essential tools. For example, no investor can afford to overlook the latest in brokerage comparison tools. These allow you to compare Australian CFD Brokers online to find out which offers the best service and the lowest fees, a development that is also helping to drive down the cost of broker fees for all investors.
Online research sites
Some brokers offer their clients access to various online tools that enable them to research the latest information and to analyse important company charts and other information. But if your favourite broker isn’t offering this service, that’s no problem. There is a wide variety of investment analysis tools available online, which can help you to fine tune your investment strategy and to spot opportunities. Investors who are still relying on newsprint for their information are likely to be missing out.
Personal finance apps
The rapid rise of smartphone technology has opened the door to an exciting range of possibilities, including the development of personal finance apps. These are powerful software packages, which can be used to monitor your investments, organize your portfolios and offer an instant overview, along with real time financial information. And you can have all of this information in the palm of your hand, giving you the ability to manage your investments wherever you are.
Online education resources
Using a broker remains the best way to make investments in the stock market but gone are the days when you had to rely on experts to manage your investment strategy. The internet has made it far easier to learn about investing, and you can find helpful advice and educational resources on every aspect of investing. The modern Australian investor is constantly upgrading and re-evaluating their skills, thanks to the possibilities offered by internet technology.
It simply isn’t possible to be a successful investor in the modern world without taking account of technology. Some of the technological advances outlined above have revolutionised investing and there will be more innovations to come, as Artificial Intelligence and Virtual Reality open up new frontiers of investment technology over the next decade.