Mobile trading increases among FX traders

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Wall Street Journal article quotes LeapRate research.

WSJlogo Today's Wall Street Journal included an interesting article on the growth of mobile trading among retail FX traders.

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While we agree with the WSJ's premise that FX trading via mobile devices has grown rapidly the past couple of years, our research indicates that mobile trading is a very small part of the overall pie, still less than 5% of overall retail FX trades, and less than 2% of initiation of new trades. FX traders, it seems, still seem to make most of their key trading decisions in front of larger screens. Nevertheless, a firm's mobile offerings are increasingly becoming an important part of traders' decisions in terms of which Forex firm to trade with, as traders increasingly want the option to trade from wherever they are. In reality, mobile devices are still used mainly by FX traders to monitor their existing positions, close existing positions, or just monitor the markets.

To see the WSJ article click here (to see the full article online requires registration).

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  • LiteSites Wednesday, 11 January 2012

    Trading in the UK

    In the UK broker's are releasing Mobile and Tablet apps and there has been an increase in use amongst people I know. On Monday (9th) there was a double page spread in the CityAM (London Paper) highlighting the increase of trading on the go.

    Though personally it seems people use mobile's etc to check positions and prices rather than for opening trades and looking at price movement.

    It will be interesting to see if the release of 4G mobile networks will have an effect or if people will still prefer to be in front of a desktop and in the right state of mind to trade.

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