Mobile trading beginning to take hold in the FX world.
Forex software provider MetaQuotes, maker of the popular MetaTrader trading platforms, reported that as of the end of November it passed an important milestone, with 500,000 active users of mobile terminal versions of its MT4 and MT5 trading platforms.
More specifically, the breakdown is 418,000 mobile MT4 users, and 83,000 MT5 users.
Mobile trading has been around for several years, but only in the past year or so has it really begun to take off — as mobile devices generally become more popular and ubiquitous, and as consumers and traders become more used to engaging in all types of financial transactions using their mobile devices. As of the end end of last year, in our 2011 LeapRate-Dow Jones Forex Industry Report, we estimated that just 5% of FX trades occurred via mobile devices. Today, we believe that number to be closer to 15-20%.
For more on the global FX market see the LeapRate-Dow Jones Forex Industry Report.