Mobile FOREX Trading: Being On the Go Shouldn’t Stop You From Trading On FOREX

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Mobile FOREX Trading: Why Should I Trade Mini FOREX Lots?

Are you ready to take the next step in trading on Forex? Are you sick of being tied down to your desk trading all day when you could be out and about? Well there are now solutions for you! Welcome to the world of mobile Forex trading, where your phone is now your gateway to Forex trading from just about any point on the planet.

What is mobile Forex trading?

Quite simply, it’s exactly what it sounds like. It’s the use of your phone or your tablet to trade on Forex from wherever you happen to be. No more do you need to be chained to a desk or a computer terminal to make your Forex trades. Where not that many years ago no one was but the big financial players were able to trade on Forex, today not only can anyone with an internet connection do it, anyone with a smartphone can do it now.

What are the advantages to mobile Forex trading?

Again, that’s pretty obvious. With existing mobile technology, and with the level of coverage now available through Wi-Fi, 3G, 4G, and satellite, you can now be anywhere on Earth and trade on Forex. Technology has progressed to the point where it’s absolutely possible to trade up to the second just as you would sitting in front of a monitor. This is a huge advantage because not only do you not have to be stuck in a stationary location in order to trade, you also won’t miss large developments that you otherwise might, and can now capitalize on them as soon as they happen.

What are the disadvantages of mobile Forex trading?

As good as technology today is, it’s not perfect. A mobile phone is not going to replicate what you can get from a full trading platform. The information you receive is not going to be complete – the bandwidth is too low, the screen is too small, and the current processing capabilities aren’t robust enough to give you everything you can get from trading online with a computer. In many cases it’s better as a tool to keep up with developments rather than a full trading platform of its own. But that’s not to say it’s impossible to use it as such.

What do I need for mobile Forex trading?

A good phone, for one. You’re going to need a decent smartphone with a decent processor. Internet bandwidth is necessary as well. It will need to be 3G capable at least, and your mobile plan should provide you with adequate data coverage to be able to run your mobile trading platform for long periods of time. Your phone will also have to be Java compatible, as most Forex mobile trading platforms are Java-based. Finally, you’re going to need to find a broker that provides a mobile trading platform. This shouldn’t be too hard, most do, so going to the broker you’re already using is probably a good place to start.

How about security?

There are obviously the usual concerns about security when conducting financial transactions through a mobile device. Servers are secure, but that doesn’t negate the possibility of you losing your phone or having it stolen. As with anything else, password security is of course extremely important. Make sure as well that you do have a secure, encrypted connection with your broker, and that if you’re going to use your phone to trade on Forex you should keep a very, very close eye on it.

What mobile trading platforms are best?

There are several applications available for the various smartphones on the market. We’re not going to recommend specific ones, but as with any other kind of software, there are some that are better than others, and a pretty strong consensus on which ones are decent and which ones really suck. A good place to go is onto Forex forums. There are hundreds of them all over the internet, with no shortage of people willing to discuss exactly how they feel about specific software applications.

How do I get started?

Well it’s simple. As I said, make sure your phone is capable of meeting all of the requirements for mobile Forex trading, and then go find yourself a broker with a mobile trading platform that you like. Then get out there and start making yourself some Forex money from wherever you happen to be. Enjoy the freedom of not having to be stuck in a cubicle or a room all day every day in order to trade on Forex. Enjoy yourself, and good luck!

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