The modern world is now the age of computer and smartphone. All of the electronic devices we use now a day, the smartphone is the most popular and widely used device. All companies are trying to focus on the development of smartphone and tech giants like Samsung and Sony have their own research centers for advancing the smartphone technology. It does not surprise the traders in the market that their favorite trading platform is now being offered on their respective app store. If you are not living under a rock and you know how the modern world communicates, you are well popular with the increasing use of smartphone from our daily lives to our personal lives. Different apps have been created to make out life easier and the latest edition of the financial part is the Forex trading platforms in smartphones.
Figure: Perfect trading platform for the professional trader
These Forex trading platforms in mobiles have really changed the way how traders have been managing and placing their trades on the mobile. Before there was any platform which was available for the smartphone users, traders have to look on their screen continuously and keep them updated with the help of a computer. The smartphone trading app has changed all that. Traders no longer need to have in physical contact with a computer. They can know the market condition and remain in control of their trades with the help of their smartphone. It really has changed how traders all around the world used to trade in Forex. For instance, the reputed broker like Saxo is now offering an excellent trading platform like SaxoTraderGo to their clients in two different formats. You can use their robust platform on your smartphone or chose to trade with a PC in a traditional way.
Is it good or bad?
It is certainly good because it removes the stress of using a computer every time you need to check the market condition. Moreover, it also gives you the freedom to be in control of your trading account from wherever you are. Though many people said that trading in a mobile platform do not give the full experience of trading in a computer like a screen is small, there is less information, it is still great to the traders. Before you place any trades do the technical analysis in your online trading platform using the desktop. Once you have the clear idea about how the market might work you can easily use your smartphone to see the important levels and place your trade from anywhere in the world.
One thing you can find it hard is that you will be provided with limited resources in your mobile trading platform. You may miss the other important data or tools that help you to take a decision. But with daily use of your mobile app, you will find that there is not really very much difference in both of them. You can go anywhere and still monitor your trades. It is a great way of trading in forex and smartphone trading apps have made it possible for the traders. But before you do your technical analysis make sure that you use the desktop version of your trading platform to get a general overview of the market. Use all the required trading tools to find the best possible trade setup of the price level. This will give you market structure which you can easily use in your mobile trading platform. Make sure that you instant a forex news app in your smartphone so that you get regular update of the high impact news release and scale your trade accordingly.
Summary: Trading with the smartphone is very much popular among the new traders. But when you place your trade with the mobile version of trading platform make sure that you have done your technical analysis by using the desktop application. As a trader, you can never focus on the mobile version rather consider it as the best helping gadget for the traders.