There’s no doubt about it; mobile technology as revolutionised numerous niches within the financial services sector. Take banking, for example, where four out of 10 Brits now use smartphones to manage their accounts.
The advent and sophistication of mobile technology has also changed the nature of online trading, with a growing number of investors now monitoring market trends and executing orders through their smartphone or tablet.
We’ll explore the impact that this has had on virtual trading below, while considering the benefits that it has delivered to traders.
Ushering in the Age of Real-time Trading
On a fundamental level, mobile trading has made it possible for investors to execute real-time orders across a host of markets.
While this offers value to all investors, it’s particularly advantageous to those who operate in volatile and constantly accessible market such as the foreign exchange. This is open for 24-hours each day and six days a week, with three separate trading sessions taking place in Europe, North America and the Asia-Pacific region.
Given the global nature of this market and the frequent price shifts that define it, having real-time access to your accounts can help you to capitalise on even short-term trends. This is particularly beneficial for day traders, whose entire strategy is based on leveraging the volatility that occurs during a single trading session.
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While most traders benefit from having a distinctly deterministic outlook, it’s important to make informed investment decisions that are built on knowledge, insight and real-time data.
Mobile trading can be worth its weight in gold here, with smartphones and tablets offering you access to live news streams and the very latest market trends. Online brokerage firms like ATC Brokers will deliver these real-time data streams through their online platforms, so all you need to do is connect on the move and harness the information provided.
With this type of approach, you can implement your trading strategy regardless of your physical location and make informed decisions that help to optimise your returns.
Bringing Online Trading to a Wider Audience
On a final note, it’s also important to remember that mobile technology has made online trading increasingly accessible to a wider audience.
Along with the advent of virtual trading platforms, mobile technology has removed many of the barriers to entry that once surrounded the financial market.
It has also laid the foundations for conventions such as social trading, which enable a global audience of investors to connect and share their most successful strategies.
So while daily trading volumes may fluctuate depending on market conditions, the number of people actively trading continues to increase with every passing year.