At the end of the 00s, Apple coined -- and even trademarked -- the catchphrase "there's an app for that!" While this was a phrase that was relentlessly popular back then, the fact remains that there really was an app to answer our every need.
This is still the case today, over a decade on. With a few taps and swipes on our smart phone or tablet, we can access our banking, do some shopping, and enjoy a full workout.
It stands to reason, then, that we can access financial apps to help with trading. From being able to check stocks on the go to accessing tools, advancements in the way apps work means that we can use them to our advantage.
Financial apps for forex trading
In the world of forex, every second matters as markets move quickly. Therefore, it's essential that traders are ready for the big changes to come in.
One way that the industry has been able to keep track of these constantly moving numbers is using mobile devices.From the early days when just 5% of trades in 2007 took place on mobile to 36% a decade later, it's clear that trading via mobile devices has risen in popularity. And these numbers are only set to rise as it's predicted that there will be almost 62 million smartphone users in the UK by 2024.
But what makes these apps so good?
The prosÂ
There are lots of advantages to being able to access the trade floor via the financial apps on our smart devices. With help from mobile trading, we can see what is happening in real time. Here is a look at the three key advantages of mobile forex trading.
- Gain insights
Finding out as much about the markets as possible can be key to being a successful trader. There are apps for smart devices that give forex traders the chance to analyse the markets in-depth. Tracking trends in this why allows traders to be more deliberate in how they approach the markets.
- Easy access to data
This is a huge plus point. Apps make it possible to easily access information and move quickly. Traders don't have to stay rooted in one place next to the nearest desktop computer orlaptop anymore.
