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 currency traders.

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
Mobile Phones
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.