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phones integrated into their daily lifestyle. Tis will help to attract new clients.”
Maksimov comments: “Mobile trading allows you to stay flexible and mobile, wherever you are. Tat means you always have a finger on the market pulse and are able to keep control over your trading account. It allows you to respond faster, get the clear perspective of any market-related event immediately, check your trading ideas, and trade on the go.”
Meanwhile, Bhopale states: “Te more we can educate our traders such as by giving them access to analysis at their fingertips, the more likely they are going to trade smarter and therefore have a better performance rate. By offering and having a presence on mobile channels we are offering traders another chance to receive analysis, learn and educate themselves.”
Mobile trading and analysis apps can assist with forex education and trading performance. Assia comments that his company believes in the wisdom of the crowds as being the best tool for education and trading performance. “It is for this reason that in addition to in-depth technical analysis, charts and trader insights, we have incorporated a tool into our mobile apps called Social Bar. Social Bar allows users to like and rate an alerted position in order to help others base their decisions on the collective wisdom of other mobile traders. Users are able to comment and rate positions based on whether or not they would buy or sell and share it with the entire mobile user community. eToro presents its Mobile Trade Alerts users with a wealth of information that is facilitating users to make smarter trading decisions,” states Assia.
Differentiating services
FX brokers are trying to differentiate their mobile FX trading services, says Maksimov. He explains his
140 | july 2012 e-FOREX
organisation’s strategy: “Dukascopy Bank’s philosophy is to give access to the flexibility that is offered by modern smartphones, and at same time provide a full set of trading related features. In other words, our goal is to offer full desktop functionality on the small smartphone screen without a complicated user interface. An example is our new charting tools, recently added to the iOS and Android trading platforms. Tese charting tools are fully scalable and customisable with a wide set of indicators represent a real step forward in usability and functionality for mobile traders.”
At this point all FX brokers have a mobile offering, remarks Bhopale. He says the differentiation point is about how close the app is to providing traders with all the information they need to make intelligent trading decisions. “Te charts on the mobile trading apps must have popular indicators, the ability to have multiple time frames and the ability to do analysis directly on the charts,” he says. “Another differentiation point is providing news in the mobile app itself so traders can read what is happening in the markets.”
On differentiation, Potaczała says that with the increasing use and reliance on mobile
devices for access to information and trading, brokers will compete based on the quality of the mobile applications offered. Device-optimised applications with attractive user interfaces will continue to increase in sophistication and utility, he reckons, while clients will consider the quality of a broker’s mobile device offerings as a key factor in evaluating the strength of its product offering, he states.
Potaczała adds: “Tis is especially true for clients that are early adopters of technology who seek out brokers with the most innovative offerings. Brokers can gain a competitive advantage by being the first to market
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