Certainly, the World Wide Web has evolved as one of the most revolutionary inventions in the technology arena. This is because it has changed almost every aspect of life, right from shopping to entertainment. It has also transformed social connections beyond all possible perceptions. Apart from that, advancements in technology have reformed the course of financial investments, especially in case of liquid transactions such as Forex.
One cannot ignore the advent of live trading happening virtually over more than past 10 years. Introducing more advanced algorithms and processors are lending a big hand in triggering a high volume of transactions in a short span of time.
It was only during the 1990s when these liquid trading systems advanced to include real-time transactions, complex mechanisms, and live market prices. These aspects were yet mainly restricted to brokers and those who functioned in stock exchanges. The remaining decade witnessed the process of fine-tuning the underlying technology and designing portals for quick and easy online access.
In-demand Technological Boosters in Forex
Today, the Forex market functions outside of stock exchanges. The recent changes are evident via trading on social networks and trading algorithms that Fintech companies are revolutionizing to bridge several gaps. At present, the Forex industry includes diverse clusters of people from across the globe for providing flexible services via upcoming and leading technological boosters.
Sophisticated Mobile Trading
The rise of online platforms has also facilitated mobile trading since the last decade. While talking about Forex trading through mobile gadgets, one cannot deny the flexibility and convenience of sophisticated apps, the most famous being the MetaTrader.
These apps enable investors to manage their Forex accounts from anywhere and at any time, often even without a workable Internet connection. They have surprisingly improved the precision of currency trading as well as has opened the door for many new trading strategies, especially benefitting those with a short-term stance and preference for day trading.
MetaQuotes must have observed the yet persistent reluctance of traders for using the newest MetaTrader 5 platform. Keeping this in mind, some updates are already published for MT5, which seem trivial. However, unlike other markets, this release of updates shows that the financial industry is becoming flexible enough to function as per the requirements of traders.
Social Trading Platforms
Social trading is perhaps the latest trend in the Forex arena. One such company that deserves a special mention here is Spotware. It is new but has introduced some most intuitive ideas. Its trading platforms are cTrader and cMirror, which are extremely remarkable. Through these platforms, it has managed to attract some of the best Forex trading brokers
cMirror has a distinct social trading mechanism. It enables anyone to produce and broadcast signals of trading, which another user can subscribe. It has all requirements for subscribers and broadcasters, and that there is no need to install anything else to use it.
This is where eToro’s CopyFunds seems to make a stronghold. It aims to magnify the portfolios of traders by enabling them to go beyond the Forex market. Most people know it as similar to an ETF. However, it is not an ETF, even though it tracks all portfolio items. In fact, it is an algorithm that is likely to supervise ETFs. The trading takes place as per the decided strategy.
Meet Morakhiya is a freelance journalistic writer. He enjoys sharing information, inspiring people, and writing about pretty much everything about technology that helps small businesses, build brand awareness, engage their target audience and generate more leads. For more info you can drop him an email.