The success of the free app demonstrates customers desire to use smartphones for their financial planning.

Online equity deals with the firm were up from 83 per cent to 87 per cent in July to September and two per cent of these were placed using the mobile phone app.

Current equity dealing volumes stand at 378,000.

Hargreaves Lansdown has seen a 236 per cent increase in people accessing its website from a smartphone or iPad.

The firm says its HL Live mobile app is the only app which allows investors to view their Isa, Sipp and other investments and trade funds and shares on iPhone and Android systems.

The app gives users the ability to view interactive perfomance charts, personalised share watch lists and fund and share dealing.

Danny Cox, head of advice at Hargreaves Lansdown, said: “The growing number of downloads and dealing volumes demonstrates we are meeting an increasing appetite from investors who want to manage their investments on the move.”

“The HL Live mobile app also aims to encourage a new generation of investors who will consider mobile access a necessity.”

The app is available to download from http://www.hl.co.uk/app