Can you Trade Forex on your Mobile?
Forex markets are open 24 hours a day, from 5pm EST on Sunday to 4pm EST on Friday. This makes forex trading the most accessible form of trading available. However, such accessibility is irrelevant if you are not able to take advantage of it.
What is mobile trading?
Mobile trading allows traders to access trading platforms from their tablet or mobile, rather than being restricted to trading through a laptop or computer. Technological advances mean that is now simple for investors to login via a smartphone or tablet and actively manage their account, which includes placing or closing trades.
In today’s hectic world, it is not so easy to find the time to trade. Life, work, family, can easily get in the way of researching and executing trades. The ability to trade forex on your mobile, can help ease such problems. A mobile trading app means that you can always be within touching distance of placing a trade or taking advantage of a trading idea
Wherever we are, we almost always have our phones on us or near us. This also means that we can quickly take advantage of a trading idea, without having to find a computer, sit down, login. all of which is time-consuming and not always possible!
A few pitfalls to avoid with mobile trading
Despite all the positives, there are also a few pitfalls to avoid when trading via a mobile app. Perhaps the most important point is to remain focused! Just because you can trade on the go, that doesn’t mean that you shouldn’t concentrate on what you are doing. As with trading anywhere, if you become distracted whilst trading, it could result in losing money. So even if you are out and about, stick to your trading plan.
When trading on a mobile app, is important that the app you are using has the features you require. Does the app offer the functions that you want to make your trade? For example, can you see the charts clearly? Can you use risk management tools such as stop losses? Don’t leave this until once the trade is running to think about, it could be too late.
How can I trade on my mobile?
Not all FX brokers offer mobile trading Apps. Vantage FX, is an award-winning, Australian based broker, which specialises in FX, Index and Commodity trading. They offer a suite of mobile trading applications, which are available to their clients in order to facilitate trading on the move.