The world of mobile trading has evolved at an incredible pace over the last few years. Underpinning this stands dynamic technological advances; in a time frame smaller than a decade, traders finally got the opportunity to access the largest trading market in the world directly from their mobile phones.
This became a reality mostly because of the rapid development of the online environment, which allows a person with an Internet connection to open a trading account on a mobile and jump right into the market, using forex apps to buy and sell currencies.
The evolution of trading
Veteran traders have already stated that they remember how difficult it was almost eight years ago when the most influential Forex brokerage companies offered the EUR/USD shared currency pair quote on a four-digit account with a spread of only three pips; in other words, this meant that the spread between the bidding and the asking prices was only three pips, which nowadays seems to be something out of this world. With the help of the new Forex mobile trading features the same currency pair can be traded on a five-digit account with the spread of 0.2 pips, which is very efficient for the trader.
The continuous evolution of technology has made the trading market change from good to better at a very fast pace. Just as the Forex market evolved according to many technological breakthroughs, so did the retail trading branch. Namely, when creating a live trading account with a Forex broker, retail traders can now access their account on various devices: desktop, smartphones and on tablets.
Mobility and Forex
After the evolution of the access points a new notion was born, respectively “trading on the go”, and so far this feature is extremely popular amongst traders. Smartphones and tablets have been received with open arms mainly because of their functionality in this domain.
The dynamics of the trading market requires a fast reaction to all of the sudden changes that occur on the trading chart; because of this, many brokers have been taken by surprise and were required to adapt as fast as possible to the new trading reality. In another order of ideas, it has been proved that one of the biggest challenges for veteran traders was to keep up the pace with the mobile market.
Benefits in trading
Another significant benefit here is the ease of access to a live Forex trading account. Mobile internet offers access even when there is not a direct Internet line, but 4G and 5G technologies now enable a trader to navigate towards a complete trading experience.
Several years ago this was not possible with only a simple Internet plug-in connection because traders were required to continuously monitor the trading screens. This is not a problem for the regular trader anymore, because reliable smartphone connections keep you up to speed with all the changes. Smartphones have single-handedly managed to change the lifestyle of many traders.
The age of mobile trading is quickly evolving, and the traditional Forex trader needs to adapt and become a professional mobile Forex trader. Instead of spending countless hours at a desk in front of many trading screens, the trader can view and access more information with the help of some smartly developed apps that enable him to view plenty of screens at the same time on their mobile device.
Clearly, this means that traders are now even more active than before, and this is possible only because of mobile trading.