With the dollar finally stabilising after a turbulent week, forex traders and investors can finally begin to breathe easy. After all, America’s currency has served as a beacon of strength during turbulent times, as the value of the pound has plummeted while the Euro has weakened.While spread betting on the forex market removes the burden of ownership and theoretically enables traders to profit in a depreciating climate, the changeable nature of the entity makes it difficult to achieve sustainable success. As a trader, you must therefore utilise every asset at your disposal to combat the volatility that exists within the market, with technology arguably the single most potent weapon in your armoury.
3 Example of the Latest Tech and how they can help your spread betting strategy
By leveraging the latest technology to underpin and implement your spread betting strategy, you can negate many of the issues that plague the foreign exchange. Consider the following: –
Access your Portfolio through your Mobile
If there is one device that embodies the recent pace of technological advancement, it is the smartphone. With more than one billion now owned worldwide, smartphones have evolved considerably over the course of the last decade and are now key drivers of traffic in sectors such as e-commerce and financial trading.
For spread betters, smartphones are seminal devices that offer them instant access to their portfolios and enable real-time trades. This capacity is worth its weight in gold in such a volatile economic climate, while most handsets will also allow traders to connect with their account even without a valid Internet connection.
Trade through an App or Online Platform
In the world of financial market trading, however, it is the emergence of online brokerage platforms that have truly altered the spread betting experience. Prominent platforms such as ETX Capital have led this charge, offering single accounts that offer traders access to numerous markets and a comprehensive range of analytical tools.
These immersive platforms not only make it easy to manage an entire portfolio, but they also enable traders to execute a real-time spread betting strategy that is tailored to the demands of the market. Novice traders would also be interested to note that these platforms offer demo accounts to subscribers, which allow newcomers to hone their skills and strategy within a simulated market environment.
Access breaking news and analysis in real-time
As we can see, modern innovations have empowered real-time trading and helped to negate the huge volatility that exists in derivative markets such as the foreign exchange. This is also reflected in the rise of online news rooms and apps, which deliver live bulletins and analysis to traders and enables them to make informed decisions regarding their portfolios.
From the online newsrooms that exist on virtual brokerage platforms to independent apps that allow you to have breaking news sent directly to your inbox, this technology ensures that you are forever at the cutting edge of your chosen market. This is particularly important for spread betters, who deal in margin-based trades that are often subject to sudden shifts and price movements.