| 23 February 2010

Fidelity is the only firm we're aware of tha actually has an internal Chief Wireless Officer, and now they've finally chosen to tackle iPhone App territory with a newly released application. The app covers the basics you would expect with market updates, quotes and charts (including the ability to view charts in landscape mode), news, watchlists, and more.

Fidelity customers can log in to view account balances and positions and place trades. The execution screen includes some nice filtering technology that limits your view to only the fields necessary to place your specific trade.

We've seen similar applications from E*TRADE (ETFC), which launched last July and OptionsHouse which launched last November. Interactive Brokers (IBKR) launched their iPhone app in September.

Fidelity, it seems, is keen on developing new applications in-house. We recently wrote about their "Fidelity Labs" project which was in a state of, we believe, fish or cut bait. This iPhone product was developed by the Labs group which also includes efforts on Twitter and Facebook. The Labs project certainly doesn't have the same cutting edge feel as, say, Google Labs; but at least Fidelity is willing to acknowledge new Web developments and is willing to give them a try. (Hello? Schwab?)

E*TRADE and Interactive Brokers also developed their applications in-house. TD Ameritrade (AMTD) and optionsXpress, meanwhile, partnered with Market Simplified which develops and delivers the applications to brokers for free in exchange for a share of commission revenue.

A few months ago we wondered aloud whether mobile trading apps were really necessary (which prompted some readers scoff at our typewriters and call us "Luddites"). But whether or not the ability to execute a trade while waiting for your latte is really a necessity, it's clear the demand is there and brokers don't want to miss this particular check box. Fidelity, in particular, has seen triple-digit growth in wireless trading recently while E*TRADE blew well past the 2 million log-in count last on the Blackberry alone last year.

What's becoming clear in the smartphone world, especially as Apple and Android phones continue to gain broad appeal, is that basic mobile account access doesn't cut it anymore. (Hello? Schwab?) Active traders on the go are looking for an experience that closely approximates what they're used to seeing online. While not perfect, these applications are good long step in that direction.