Inside Smartwatch Trading: A Trend or a Must for Forex Brokers?

As the range of mobile devices that are available to us has been exponentially growing, so too has the ability to access Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term trading technology “on the go”.

This has not gone unnoticed by forex brokers, whose mobile trading platforms, pioneered by MetaQuotes a decade ago, are now a ubiquitous feature of the trading landscape. Indeed, an estimated 60% of traders transact and access a slew of information from their mobile devices, such as current market quotes, notifications, account balance and news updates.

And as technology is becoming wearable, smartwatches are emerging as the latest trend to rock the forex world, or are they? This year has seen a number of forex brokers launch apps allowing clients to gain even speedier access to trading technology.

Just as mobile phones and tablets have become regular trading tools for most traders, it can be anticipated that wearable devices could be incorporated into the lives of traders.

To explore what this trend has to offer and whether it’s here to stay, Finance Magnates has been looking into the data surrounding mobile usage in order to unlock the trending technology's potential.

To assess the trend in full, read Finance Magnates latest Quarterly Industry Report (QIR).

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