Improving connectivity between the trader and the market
Although the notion of constant Internet connectivity as a
necessity may not be universally accepted, traders in the 24-hour
global Forex market would agree that continuous access to their
account is far from a luxury. The breaking news effect on foreign
exchange rates is practically instant, unlike, say the stock market
where participants often have to wait for the exchange opening to
see the impact on share prices. This renders constant connectivity
to the market anytime, anywhere a particularly topical issue for
As mobile technology continues to redefine its role in the daily
life of traders, the benefits reaped from this evolution by the
Forex market can be immense. While providing release from Forex
separation anxiety experienced when away from the PC trading
station during key releases and major market moves, the
continuously improving technology also arms traders with access to
the main functions of the market.
Staying connected wirelessly
When choosing the method of mobile access and service plan, traders
must make certain that their currency broker or market-maker
maintains a handheld-enabled version of its trading platform (see
example). Though many mobile providers on the market claim advanced
technological features, these functions are of no practical use if
your broker does not carry a trading platform developed
specifically for compatibility with these devices.
Due to certain functional limitations, mobile trading platforms are
restricted to only core features. Yet, many platforms will allow
traders to receive rate alert signals on their devices, check the
recent price action on a chart and place a trade with an assigned
stop-loss and take-profit order.
Types of connectivity
Extremely portable and web-ready, mobile phones generally support
access to forex news, account status reports as well as the most
basic trading functions. Due to limited hardware, mobile phones
lack adequate charting facilities, while their minimal resolution
confines information to a small screen area often requiring much
scrolling using awkward navigation controls.
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