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The following guest post is courtesy of Yael Warman, Content Manager at Leverate. Yael is a creative writer with a strong background in marketing and advertising. Yael has been a writer for over 10 years and has worked for clients in various industries as well as her own companies.
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There is no going back.
The world is going mobile and you can either get on board or get left behind. With 145.8 million smartphones in the UK alone, seven out of 10 people in Western Europe owning a smartphone, and countries like China and the UK having smartphone penetration of 47% and 62% respectively, mobile has become the fastest-growing channel for online shopping.
So if your business is not already riding the mobile wagon, you need to get on it.
The Forex and Binary Options trading industry, which trades 24 hours a day, has traditionally kept traders tied to their desktops in case immediate action was needed. But with the prevalence of mobile trading applications, traders are being freed from their desks and given the ability to trade wherever they go, any time of day, as long as connection to the internet is available.
While a mere 15% of mobile trading logins in 2013 resulted in a trade (other logins resulted in checking the status of a position, exiting a position quickly if the market changed unexpectedly or checking the trigger points of their SL/TPs), the panorama has significantly changed over the years.
Today, about one third of internet users in the UK see their smartphones as the most important device for going online, according to Ofcom’s 2015 Communications Market Report, and this trend has slowly began to rub off on the Forex and Binary Options trading industry.
A recent study conducted by ORC International for the investment firm Fidelity revealed that 56% of U.S. mobile users included in the survey accessed financial apps to conduct advanced trading tasks, including technical research/charting, researching analysts’ reports and trading.
PCs may still be the preferred method of trading by most traders around the world, but mobile trading platforms as a secondary point of access is not just a good idea, it’s a must.