Saxo Bank’s new TV commercial, announcing the launch of its new SaxoTrader mobile app for iPhone and Android, has taken trading to new heights (literally) by demonstrating a trade made during a base jump off cliffs near Cape Town, South Africa.
While the stunt is certainly cute (see it here), it highlights the growing importance of mobile trading in the FX world, as described recently as well by the Wall Street Journal. Having a functional and user-friendly mobile trading option for clients has gone from nice-to-have to need-to-have.
While our research shows that the vast majority of trades still occur on non-mobile devices (depending on your definition of a “mobile” device – e.g. does that include tablets?), investors simply will not take a broker seriously unless it has one or several mobile trading options. And looking forward, people are simply doing more and more with mobile devices.
Along the same lines, we have recently seen MetaTrader developer MetaQuotes spend a lot of effort on their mobile offerings. MQ recently introduced MT5 for Android, an updated MT5 for the iPhone, and just last week introduced MT5 for Android tablets.