Finance News

Interactive Brokers enables mutual funds trading via mobile app

The new instruments are available to users of the IBKR mobile apps for iOS and Android-based devices.

Online trading major Interactive Brokers Group, Inc. (NASDAQ:IBKR) has expanded the range of trading instruments available to users of its mobile applications.

The latest versions of the IBKR Mobile app for iOS and Android devices now support trading in mutual funds. One may find a fund using the symbol or fund family name.

The latest addition to the lineup of trading instruments comes after the recent introduction of bonds trading on the IBKR Mobile app. Users of the solution can trade municipal and corporate bonds.

The latest set of improvements to the mobile app for Android gadgets also includes the ability to view the Greek Vega for one’s portfolio alongside aggregated Theta and SPX (beta-weighted) Delta in the dashboard of the Portfolio screen.

In one of the recent updates of the apps, the broker enhanced the work with so-called “Greeks”, which help traders determine how certain factors affect the price of an option. For instance, Delta is a measure of an option’s sensitivity to changes in the price of the underlying asset, whereas Theta quantifies the risk that time has on options as options are only exercisable for a certain period of time.

Users of the IBKR Mobile apps for Android and iOS devices are now able to view SPX Delta and SPX Theta for their portfolios. In the Android app, traders can activate this feature from their Portfolio screen by tapping the menu (three vertical dots in the upper right corner) and checking “Show Delta & Theta.” These values display along the bottom of the dashboard of the Portfolio screen.

In May this year, Interactive Brokers boosted the functionalities of the mobile app related to the Interactive Brokers Debit Mastercard. As a result of the upgrade, the apps allow traders to see how much they can spend. When traders access their Interactive Brokers Debit Mastercard from IBKR Mobile, they can now view available credit where it asks “How much can I spend” by clicking Check. The value shown is the spending limit as of the time shown, e.g. “Updated 1 minute ago”, and shows the amount available for pre-authorization.

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