Technology revolutionized our world by adding unprecedented speed, ease, and access to our lives. Tasks we once performed slowly, and sometimes with difficulty, can now be automated and performed in a fraction of the time.
Almost every area of our life has been improved by technology and trading is no exception. In a little over a decade, technology has forever changed the way we trade, giving us immediate access to the markets, and making it easy for virtually anyone to trade the financial markets.
Goodbye Analog, Hello Digital
If you were a trader in the 1980s, you’d call your broker to execute trades on your behalf. The phone lines ran the trading desks, as they had done for decades. But by the 1990s, technology had changed all of that. Internet cables had replaced phone lines, and with the help of Electronic Trading Platforms traders could log on to the internet, and make their trades themselves. From phone to internet trading. That’s a massive leap in just over a decade!
By 2005, MetaQuotes Corporation, a Russian software company, had developed MetaTrader 4 (MT4) — the industry-leading trading platform for forex, stock, and commodity traders. MT4 gave traders a user-friendly interface with built-in modern trading analysis tools that made trading easier than ever. And trading hasn’t been the same since.
Data, Data, Data
Through the years, technology has helped markets become more transparent, competitive, and innovative. Today, it’s helping retail forex traders access all sorts of data to help them make better, more informed trading decisions.
Market data and analysis is no longer the dominion of big banks and financial institutions. Technology-enabled forex and CFD traders can access live quotes on their trading terminals instantly. They can get advanced forex trading and analysis tools, like an economic calendar, data release alerts, a trading simulator, and intelligence reports. And if you’re not sure what all the data means, traders can easily get in-depth analysis from industry experts, with insights that help them quickly learn and make better, more strategic trading moves.
The Age of Apps
Mobile apps opened traders to a world of possibilities, releasing them from the confines of a desktop trading platform and giving them the freedom to trade on the go. Downloaded on a smartphone or tablet your trading app becomes your trading desk, on the move and you have the global financial markets right under your fingertips. What could be better?
Today, MT4 is one of the most popular trading apps. Downloading it to your smartphone or tablet, you’ll be able to quickly see why. Charts are interactive, with pinch and zoom options. Traders can easily switch between different financial instruments as well as both SL and TP values on charts. There is a range of real-time charts to monitor prices and quotes. Trading Technical indicators and analytical instruments, like Gann, Fibonacci, and Elliott tools, are all built-in. The app is loaded with features for every level of traders.
Graphical price charts and technical indicator tools are available at a click of a button. If you’re just starting out, you’ll get a real feel for trading relatively quickly with the app’s clear, graphic visualization. More advanced traders could use the app to automate their trading strategies using expert advisor (EA) tools. Technology has revolutionized almost every aspect of trading. It has presented traders with a wealth of choices while making markets more transparent, competitive, and innovative. With so many trading tools and features available at a click of a button, it’s never been as easy to access the markets, learn how to trade, and continuously improve your trading skills. And with the help of technology, retail forex traders now have access to advanced tools and all sorts of resources and data to help them make an informed trade on their desktop platforms and through versatile and convenient mobile trading apps.
Provided by Axiory