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Is it Easier to Trade Forex on a Computer or Mobile Phone?

Is it Easier to Trade Forex on a Computer or Mobile Phone?

Historically, access to the forex market was heavily restricted, with only professional and institutional investors able to trade currencies via centralised exchanges.

However, it’s no coincidence that forex trading volumes have soared as innovation has removed many historical barriers to entry, with even part-time traders now able to invest in currencies through a desktop device or smartphone.

But which of these devices allow for easier and more accessible trading? We’ll explore this a little deeper in the article below.

What is the Forex Market?

The forex market is a vast global entity, and one that allows for the trading and exchange of international currency pairs.

Also referred to as the foreign exchange, the simplest embodiment of forex trading is the so-called currency exchange. Here, you’ll change one currency for another at a predetermined rate of exchange before travelling, with this rate continuing to fluctuate according to macroeconomic factors and the basic principles of supply and demand.

It’s this same live exchange rate that governs price movements in the forex market, which is accessible 24 hours a day Monday through Friday and covers three geographical trading sessions.

One of the main advantages of forex is that currencies can be traded as derivatives, which means that investors can speculate on price movements without assuming the underlying assets. This allows for far greater flexibility and makes it possible to profit in a depreciating market.

Computer vs. Mobile Trading – Which is Better?

While the forex market may now be tempting and accessible to novice traders, however, the question that remains is whether desktop or mobile trading is the better option?

With computer trading, you can access platforms like MetaTrader 4 on a far bigger screen  that allows for the superior presentation of analysis and datasets. Furthermore, a computer gives greater control and speed when looking to execute orders in real-time.

With a larger display, it’s also arguable that you can process a larger number of technical indicators in real-time. This may allow for more informed decision making, optimising the potential for profitability over time.

However, desktop trading offers absolutely no portability, which cannot be said for mobile or smartphone trading. Using a mobile phone gives you greater accessibility wherever you are. However, it is worth noting that executing trades is more difficult on a mobile phone, so it may just be more useful to check on prices and trades while you are away, you’re your computer.

Just bear in mind that you’ll need a good mobile Internet connection and adequate data in this instance, as otherwise you may lose connectivity when you’re unable to use a private and secure Wi-Fi connection.

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