Anywhere, anytime - Retail FX goes seriously mobile >>>
engage with every aspect of daily life, and investing their money is one important aspect of their daily activity. As mobile access to relevant and timely financial information becomes standard practice, users will
become better informed and
more engaged with investing their personal assets. Tis opens the opportunity for more users to tap into the world’s most liquid markets and either trade on their own or simply copy the investments of the best traders in the network.” “Te ability to constantly know what your money is doing is an empowering feeling to users which gives them full control over their invested funds at any given time,” continues Assia. “Adding to this is users’ ability and motivation to be constantly connected to their social circles, which is why we predict that social trading will increase strongly on mobile and with it the uptake of FX trading in general.”
Mobile phones and tablets are changing the playing field in many ways, states Maksimov. “With the speed of information exchange continually improving, mobile applications allow you to stay connected to the pool of social networking synergy. Without spending valuable time reading multipage researches, the user can always access comments and opinions on a market event and respond on the go.”
Chan agrees. She says mobile devices provide convenient on the move price monitoring that caters to the lifestyle of professional traders. She adds: “Mobile services also enable clients to stay aware of their positions, which could help them make more informed trading decisions. In terms of executed volume, we felt the growth of mobile trading may not be exponential, as a majority of high volume traders will still prefer to rely on the desktop. However, mobile devices have definitely made it more
convenient for new traders on the move to get in tune with the FX markets.”
While Bhopale comments: “Mobile devices have created an environment that allows traders to have a greater level of access in real time to not only brokers and analysts, but to other traders. Additionally, social platforms such as Twitter and Facebook are easily available on mobile devices and thus provide traders a medium to talk to other traders. Tis has spurred more discussion and created a community feel to trading, which has created the social aspect of FX trading.”
“As a broker, FXCM has worked hard to redefine its social presence so that traders can easily access our analysts for updates, as well as ask questions about the markets,” observes Bhopale. “DailyFX, the research arm of FXCM, provides real time news updates on Twitter and Facebook, which is an incredible resource for any trader. FXCM has over 8,900 likes on our on our Facebook fan page and over 17,000 followers on our Twitter account.”
Grace Chan “Locally, we do not see much deviation in terms of
features on mobile FX trading. At Phillip Futures, we try to differentiate by putting multi asset classes of products on the platform, so it caters for both FX trading as well as equities and other products.”
july 2012 e-FOREX | 145
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