Retail FX Traders Going Mobile In Droves
By Erin McCarthy Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--There's a long-standing rule in Jared Johnson's household: no smartphones, iPads or foreign-exchange trading at the dinner table.
Johnson, an Indianapolis-based financial services broker who trades currencies on the side, is one of a rapidly growing number of retail foreign exchange clients using smartphone and tablet applications that make it possible to trade a 24-hour market from anywhere.
Retail foreign exchange traders, known for their somewhat obsessive approach, are increasingly shunning home desktop computers and monitoring and executing trades on mobile devices. Indeed, with a growing number of younger, tech-savvy people trading in a volatile market that can turn against a position any time of the day, there's been explosive growth of the use of smartphones and tablets in mobile foreign exchange trading. And mobile trading providers say it will grow quickly from here, as the technology improves and clients grow more comfortable trading on the go.