IWL Limited announced today that its online stockbroking business, Sanford Securities, has launched Australia's first dedicated mobile share trading Web site for both 2G and 3G Internet enabled mobile phones and PDA's.
Know as "Sanford2GO" the service is available to all existing Sanford members using Internet enabled mobile device such as iMate, Samsung Blackjack, Palm Treo, JasJam or Blackberry.
Users can trade both Australian Stock Exchange (ASX-listed) equities and options and view live watch lists and stock quotes while managing existing orders.
The company's general manager of wholesale and retail business development, Ian Aspinall, said Sanford is first to market before CommSec and E-Trade release an equivalent product.
Aspinall said the mobile Internet is the right technology for its customer demographic and opportunities will continue with the growth of the Apple iPhone.
He said 3G is making serious progress with more than four million users.
"This is led by Telstra's Next G network which has two million users; 100,000 phones are being sold each month by Telstra alone," Aspinall said.
"Data traffic over the 2G and 3G networks is exploding, fuelled by capped price plans. For a long time Hutchison was the only 3G operator but that is changing with Optus even committing $800 million to a 3G network."
Aspinall said there are now more mobile subscribers then there are people in Australia.
He said a million CDMA customers will be transferred to 3G over the next 12 months, adding that 3G is fast approaching 25 per cent penetration.
"We don't expect people to spend all their time trading stocks on a mobile phone or PDA, but we do anticipate that if they read a favourable news report or receive an SMS alert regarding a company announcement or price, they might just want to act on that information as soon as they can," Aspinall said.
IWL CEO, Otto Buttula said Sanford and IWL have demonstrated their desire to be the market innovator in the online share trading industry.
"Sanford2GO frees our customers from their desktops by allowing them to trade whenever they need to, wherever they may be. There is no need to download software and no need to set up a special account - you need only be a Sanford customer," Buttula said.
Existing members can access the service via a Web browser submitting their username and password.
There is no need to register to any additional subscriptions to execute trades. However, it is only available to Premium members which is $9.95 per month or free if more than two trades are executed per month and includes access to live pricing data.
Contract notes remain at normal Internet rates, starting from $19.95 on selected transactions.