>>> Addictive devices
Given the addictive nature of the smartphone, the powerful native features of mobile devices are now being exploited to deliver improved mobile FX trading solutions. Sammer Bhopale, CMO at FXCM, states that along with the advancement in technology for smartphones and tablets, we are also seeing more individuals using these devices as a replacement or enhancement to their web or desktop platform.
Bhopale comments: “FX Traders are no different. Years ago they would check the market rates on their phones and if they wanted to make a trading decision they would call in orders if they were away from their computer. Tis is no longer the case as technology has advanced such that traders can now use mobile devices to not only check the market rates, but to make informed trading decisions as well as act on those decisions, anytime and anywhere. At FXCM, our clients want trading functionality and features similar to our FXCM Trading platform on their smartphones. We have thus released our tablet applications and smart phone applications to meet the needs of our clients.”
Ivan Maksimov, research, monitoring and brokerage officer at Dukascopy Bank, says the main benefits provided to forex traders by modern smartphones and tablets can be described as the world in your pocket and at your fingertips. He comments: “Te rapid development of the mobile user interface, driven by Apple iOS and Google Android, turned smartphones from geeky accessories into an indispensable tool for everyday life, suitable for all users, allowing them to concentrate on one main task; in our case, trading. Our trade-on-tap feature and pinch- to-zoom charts are just as convenient as they are useful. Also, with a mobile phone you can trade 24/7 from any corner of the world, which is a huge advantage.
Sammer Bhopale
“...technology has advanced such that traders can now use mobile devices to not only check the market rates, but to make informed trading decisions as well as act on those decisions, anytime and anywhere.”
“Additionally, with modern mobile technologies such as push notifications, your smartphone becomes your personal assistant. You don’t need to spend the whole time in front of your computer, monitoring your orders, waiting for a specific price level or breaking news; as soon as any of those events appear you will receive a notification and will be able to respond with trading actions just by sliding a finger on the screen,” remarks Maksimov, who adds that the number of Dukascopy Bank mobile trading new users tripled in 2011 compared to the previous year.
Jonathan Assia, CEO at eToro, comments: “Today’s mobile devices are actually handheld computers which allow developers to create sophisticated applications where users can stay connected to the markets in real time. Today users who have version 2.2 of Android and newer can receive real time updates via Google’s Cloud to Device; with today’s improved mobile networks, stronger hardware and more available memory there is now a solid notification network and infrastructure which allows users to stay on the pulse of market activity. In addition, high resolution touchscreens make it now feasible for users to engage
july 2012 e-FOREX | 137
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