The advent of smartphones has fundamentally changed the way we live. Not only can we more easily access individuals from our personal lives, but it also gives us a means to access any piece of information we want via the web. The world of business has also been affected. No sector more so than forex, the single largest financial market in the globe.
Utilizing the 24-Hour Market
The forex market as we know it today can be defined as three primary regions: Australasia, Europe, and North America. As one market closes, another has already opened and continues to trade. The sheer international scope of the forex market has meant that it has had to support a 24-hour market like this for a long time. It is only thanks to modern portable computers, like laptops, tablets, and smartphones, which investors have been able to take full advantage of this, though. No longer confined to the office, traders can now make transactions at any time of the day wherever they find themselves.
Moving from the Desktop
One of the primary ways to read the FX market is through the use of technical analysis. This looks to read the market by using the price movements of the past to better predict any incoming trends in the future. This can be done either manually or via a piece of computer software. As we become less dependent on traditional desktop software, however, brokers have now been forced to migrate their desktop platforms to the mobile space to meet changing customer habits. Companies like ETX Capital have looked to invest in innovative mobile trading systems, with apps for both iOS and Android that allow traders more flexibility.
Creating a More Accessible Market
Even today, the first image that pops up into someone’s heads when they think of market traders is Harvard-educated businesspeople on Wall Street. In reality, though, this stereotype is diminishing. Thanks to new advancements in technology, the market is now more accessible to people from all walks of life. A broker is no longer reserved for financial corporations or wealthy individuals and has instead moved online like so many other aspects of our lives. Anyone has access to these kinds of platforms now, which also include information and advice on getting started for new traders.
If you’re a long-time trader yourself, let us know some of the ways you’ve noticed the market change in recent years in the comment section below.