HomeBusiness PointHow Is Technology Impacting...

How Is Technology Impacting the International Trading?

The growth of the forex market has been steady throughout the last decade or so, particularly during the last five years. In 2016, for example, the market’s daily International trading volumes were approximately $5.1 trillion, increasing to $6.6 trillion by the end of 2020, according to Bloomberg.

This growth has been primarily driven by technological advancement and innovation, from mobile capability and trading platforms to the emergence of online seminars, technical indicators, and forex signals.

We’ll explore the impact of innovation further below while asking how technology has helped develop the forex trading industry.

1. The Use of Mobile Trading Apps

The smartphone penetration rate in the UK reached 72% in 2020, while around 92% of people in the United Arab Emirates will be using any mobile phones and smartphones in 2020.

Developers in the financial marketplace have capitalized on this by creating a diverse range of mobile trading apps, creating a scenario where investors can now access the 24-hour forex space and time their order execution more effectively.

This also enables investors to target specific trade periods during the typical 24-hour day. For example, there are several time-frames during which different geographic trading sessions overlap, creating peaks in volatility that can translate into increased gains and profitability.

2. The Emergence of Online Learning Resources and Educational Tools

With the advent of online trading platforms, we’ve also seen an uptick in the number of virtual learning resources and educational tools available to traders.

This has further helped to bridge the gap between part-time traders and established institutional investors by affording the former access to expert-led seminars and real-time news resources that can help to inform investment strategies across the board.

On a similar note, innovation has also created the concept known colloquially as “social trading,” through which investors can operate as part of a community and essentially copy trades from expert traders and more seasoned operators.

This can improve profitability for novice traders from the outset while enabling them to learn on the job and become more efficient in their core strategies.

3. The Use of Messaging Services to Receive Forex Signals

We’ve also seen the development and widespread use of forex signals in the digital age, referring to ‘suggestions’ for entering a trade on a specific currency pair at a predetermined price and time.

While a human analyst can generate this signal, it’s now more likely to come from an automated forex robot, creating insightful, efficient, and real-time suggestions that are highly valuable to traders.

What’s more, real-time SMS messaging services can also deliver such suggestions in a quick and time-effective manner, enabling anyone with a smartphone to receive live updates and tailor their international trading efforts accordingly.

While using a forex signal may usually command a fee, this will be nominal and a relatively small price to pay if you can rely on increased profits over time.

4. Facebook Trading Groups

Had technology not been around, it would have been difficult for traders to establish themselves, but now this is not the case. There is a boost in international trading because of technology, and Facebook is playing an equal part. 

For instance – several Facebook groups have active members related to trading. These people join Facebook groups to catch the live Signals and make a profit out of forex trading. 

While it is true that the signals offered may not be accurate, but still, these groups are helping traders in one way or the other. Because of these groups, there is a boost in forex trade, all because of technology. 

5. YouTube Trading Videos

Elon Musk does not believe in a college degree because he thinks that a person can learn and everything through Facebook and YouTube. People are getting more literate these days about the matters that are related to international trading. 

Now people are willing to learn, and they make use of YouTube to learn more about trading. With a boost in covid cases, more and more people are staying home, and some of them are learning a great deal out of YouTube. 

We all know that YouTube is the product of technology, and it is creating a boost in mobile trading because of the learning platform that provides in the form of videos.

Conclusion

The fact cannot be denied that international trading has its value, but it is also true that technology is creating a boost in trading because of the many platforms.

Check out: Blockchain Technology, Cryptocurrency Trading & Digital Assets

Most Popular

More from Author

3 Communication Methods Businesses Can Use

Effective communication is crucial for businesses of all sizes and industries....

8 Tips For Naming Your Startup Business

Coming up with a name for your Your Startup Business can...

A 6-step Salesforce Customization Guide

There comes a moment in each Salesforce owner’s life when they...

Some Common Bookkeeping Mistakes That You Should Avoid 

Bookkeeping is undoubtedly one of the most important aspects of any...

Read Now

What to Do Before Opening a Reward Checking Account?

If you've never opened a reward checking account before, it can be easy to be intimidated by the process of doing so. For some people, it's not just a matter of opening an account and getting started. Other things need to happen before your new rewards checking...

Best Strategies for Improving Employee Productivity

Businesses now engage, work, and interact better than they previously did. You might always want to look for new ways to promote collaboration, engagement, and productivity. Investing in your workforce paves the way for success in today's competitive markets.  A modern business should use technology, robust policies, and...

Customer Journey Map: The key to Understanding Your Customer

What is the driving force and engine of the commerce universe? The customer. It has always been and will be the person who buys the goods and services. All the companies are competing against each other to win the attention of people and turn them into clients.  Obviously,...

How to Launch a Business in 9 Simple Steps

Starting a business is not an easy task; it requires time, effort, and commitment. However, with the proper strategy and execution, it can succeed! People decide to start their own businesses for a variety of motives, ranging from the desire for greater control over their jobs to...

Best Places to Buy a House in Maine

The Pine Tree State is known for its fresh lobsters and more than 40,000 acres of wild blueberries. Still, in recent years it has also become an excellent opportunity for real estate investors to turn to realtors in Augusta, ME, for a profitable real estate investment. Maine's average...

The Effectiveness and Advantages of Using Billboards

There’s a reason that so many highways are littered with billboards seemingly from end to end in this country. Billboards are an effective marketing and advertising medium, and they’re a popular way for brands to get their messages in front of the eyes of their consumers. Billboards...

20 Major Benefits of Headless Commerce

Headless commerce is quickly becoming the go-to platform for businesses and entrepreneurs looking to maximize their online presence. This revolutionary technology enables organizations to separate front-end content from back-end functionality, allowing for a more seamless and efficient user experience. With headless commerce, businesses can create tailored shopping...

How to Use Airline Loyalty Programs to Receive a Clear Membership Discount

CLEAR is a popular security program that is designed to help airport passengers save time at the airport. It helps numerous fliers avoid security lines at over 60 US airports today. If you are a member of particular airline loyalty programs, you may save about $60 on...

Top 5 Ecommerce Sites in the UK

Having a website for selling your products is something that can be very beneficial for your business. Whether you sell clothing, toys or furniture, you can be sure that you'll be able to make some sales if you have a good eCommerce site. But which ones are...

A Guide to POS System Software Features and Benefits

A cloud-based POS system software offers many advantages, so it's crucial to comprehend your needs and what attributes you need before making a choice. Here are the six things you should pay attention to while searching for the latest software for point-of-sale. The most important characteristics of the...

5 Must-See Attractions in Dubai

Much of the world we live in today is a result of human ingenuity. Nothing speaks to this more than the city of Dubai. Upon first glance, or even a lengthy exploration of the intricacies of the city, you might never know this now shining spectacle was...

5 Benefits of Digital Transformation in Business

Digitalization is the new market reality these days. With the rapid expansion of high-speed internet and change in demographic preferences, companies have to start their digital journey to stay in business. This has caused a pressing need for digital transformation, which is the integration of digital technologies in...