In recent years, the development and refinement of smartphones has transformed our lives. It sometimes seems that there is little that mobile technology has left untouched. It has reached its insidious tentacles into every corner of our existence, altering the ways that we order food, book and pay for taxis, shop, and even begin new relationships.
The world of forex trading has not escaped this covert revolution. It has been transformed, with traders like OANDA keen to utilise the myriad advantages that it brings to the table. Developers have worked tirelessly to develop the best and most highly refined applications, allowing investors to trade constantly, seamlessly, and efficiently in a way that they have never been able to before.
We look at just three of the ways that mobile technology has transformed forex trading…
#1: Traders Can Now Trade on the Go
Although the advent of laptops lent some degree of flexibility to when and where forex investors could trade, it was not until the development of ingenious mobile platforms that investors could truly trade in any place and at any time. With 3G and 4G networks spanning the breadth of the country, those who ply the currency markets can now access their accounts wherever they want to, whether this means utilising a spare hour spent on the train or logging into their account on their lunch break.
#2: Traders Always Have Access to the Most Contemporaneous Information
Another major boon for those who trade is the newfound ability to access the latest data at any time. No longer is it necessary to formulate plans based on out-dated information, gleaned from a quick glance at the computer prior to leaving home; now, traders can simply log into their account throughout the day, irrespective of where they are, so that they’re always working with the most up-to-date information and statistics.
#3: It’s Convenient
Another largely underrated advantage of the new mobile technology is one shared by many applications: they’re so quick, easy, and convenient to use. Optimised for use on a mobile device, they don’t necessitate switching on a computer, waiting for it to load, logging in, and then opening the software application before traders can access their accounts. Instead, it’s as easy as pie to simply log in whilst sat in front of the television, or reclining at the kitchen table. There’s no hassle, no fuss, and far less stress – who doesn’t need a little simplicity in their lives?
The only question remaining is this: where will mobile technology infiltrate next?