We’ve all seen images and videos of world stock exchanges, such as on Wall Street or in London. There are screens everywhere, full of information, and there are countless people in suits all milling around, shouting and waving tickets of paper.
It’s not something that most people think they could get into, but several developers have now created smartphone apps that allow you to trade on the financial markets in the palm of your hand. They’re bringing financial investments to anyone that wants to give it a go.
In actual fact, trading floors don’t look like the movies anymore anyway; brokers moved online more than a decade ago, and since then, traders have been able to use their desktops and laptops to access the markets through the internet. This ability to trade on the go is something entirely new of course, and it is sure to bring a whole new group of people into the world of financial trading. It has turned it from a full time profession into something casual that doesn’t even require a lot of investment.
In particular, it is forex that is proving more popular because it is the most fast paced and thrilling option. It involves trading one currency for another in order to turn a profit. It’s actually a relatively simple concept, but there are an infinite number of ways in which traders decide whether they think a currency is going to increase or decrease in value. This includes watching how prices have changed over time, and speculating on how news and announcements will affect them.
Now all of these apps are tied to a broker and your account with them. This is the company that you do all of your business through. You’ll be able to see how much money you’ve got on the account, and then you can go ahead and buy and sell whatever currency you like. There are all kinds of charts that you can pull up, which show averages and levels which can be used to predict future movement.
They’re particularly good on a tablet because you can move them around you’re your fingers and view all the information you need. MetaTrader is the most popular platform for traders, also coming in a mobile version, and you find out more about it here: http://www.alpari.co.uk/en/trading-platforms/metatrader4.html.
The easiest way of getting to grips with one of these apps is to try out a demo version. This uses real time information and figures, and gives you virtual money to work with. You can find out how everything works through trial and error before you actually decide to put money in. It’s sort of like a strategy game, that is, until you’re dealing with real money.