Forex mobile trading in the past was not embraced fully by both traders and Forex services providers. However, brokers and Forex charting traders have started to embrace the act of late. They have come to realize that traders need the convenience of trading directly from their mobile phones. Mobile Forex trading basically means trading the Forex market from a tablet or a smartphone. A good example of trade market offering such platforms is CMC markets. It can be sometimes hard to fix Forex trading around a busy timetable between family, work and social life, but with mobile Forex trading, things have been simplified further.
Over the past few years, there has been a significant technological advancement in tablet and smartphone technology. Traders are nowadays not limited to only trade from their laptop or PC. Currently, you can now trade Forex from a simple tablet or smartphone as long as you have a secure and stable internet connection. Many traders have agreed that smartphones have changed the way they trade with some saying that they conduct over 50% of the total trading from smartphones. One can take trade while swimming, hiking, and cycling making it more convenient to trade from anywhere.
However, the big challenge arises when considering the best smartphone to use for Forex trading. There are many choices of the smartphone in the market that confuse traders, but it is important to consider the operating system of the phone for maximum efficiency. The smartphone operating system is the software that supports and runs the basic functions of the phone. The OS allows the user to install applications and make phone calls. Choosing the best OS is pretty simple. Forex mobile trading offers three main choices: Windows Phone, Android, and iOS (iPhone). iOS and Android provide more choices when it comes to Forex apps compared to other OS. Window mobile phones on the other side do not support many Forex apps together with others like blackberry, firefox OS, and Fire Os. Therefore, the best choice to choose is either Ios or Android.
Another important factor to put into consideration when choosing a phone for Forex trading is the screen size and the hardware. Having a smartphone or a tablet with a very small screen makes it hard to trade effectively. A good phone for Forex mobile trading should be five inches or more. A smaller screen can still display Forex trading contents, but it can become a nightmare to navigate through the charts that are very important Forex trading. Mobile Forex trading requires a minimum screen resolution of 1920×1080(1080p). Anything smaller than 1080p will be very hard to chart on in mobile Forex trading.
The hardware is also a big concern for mobile Forex trading. However, you don’t require a very expensive and powerful phone for mobile trading. Big phones have large batteries and big screen resolution that make them ideal for Forex trading. The battery life is very critical as you don’t want your phone to die in the middle of a trade. A good phone for mobile for Forex trading should last at least six hours while fully utilizing the phone. This includes heavy usage without necessarily recharging the phone. It is also very important to have a spare battery to carry with you if you are traveling and still conducting Forex trading.
Most of the Forex trade service providers have customized their applications into mobile apps that work smoothly on smartphones. This has made it possible to carry out Forex trading in anyplace as long as you have a good and secure internet connection. Forex trading apps also are not limited to one market or product only. Traders can also access of products being offered in the market in a single app for traders to trade on.
Mobile Forex Trading also supports quick deposits and withdrawals from the phone that helps traders to conveniently access their investments anywhere anytime. Mobile Forex Trading has also made Forex trading to be a part-time job for many people due to the convenience of using mobile phones to monitor markets online. The future of mobile Forex market looks brighter as more smartphones with improved functionality are introduced in the market daily. The mobile Forex trading apps are also being developed with improved functionality to meet the client satisfaction and the market demand.
Tammy Litke is a Dallas blogger, blogging since 2008. She loves to watch movies, play video games, spend time in the kitchen, and travel. Between recipes and reviews you’ll find many helpful and some just plain funny posts on her blog. Welcome, pull up a chair and stay for a while!
This sounds very interesting. I did not know you can trade on a phone. A good phone would be needed if trading, and I have never traded, but these are good tips to know about trading on a phone.