As mobile, wireless technology transforms the world in every conceivable sphere, financial trading too is steadily making a shift from the online realm to that of mobility as a more effective way of keeping pace with the frenzied activity on the trading floor. With the overriding triumph of smartphones and tablet computers, forex traders can now engage in their trade from anywhere.
Real-time market data being the most important pre-requisite for business decision making in the domain, it is not difficult to gauge the extent to which mobile versions of trading platforms that enable access to up-to-date price charts anywhere, anytime could benefit those in retail forex trading. And now, MetaQuotes, the widely acknowledged global leader in financial information software, has facilitated just that by launching the new version of the MetaTrader 5 Mobile Terminal for traders who would like to conduct business on the go, with Apple's iPhone.
With the new MetaTrader 5 iPhone terminal, mobile traders are not only able to carry out basic trading operations but also look at full-fledged charts for all financial instruments that are available for smartphones and tablet PCs. In addition to the current quote, they can see previous values as well, which helps them to make more accurate and faster trading decisions with the help of up-to-date price analysis.
To make it easier for them and save the time required to get acquainted with a new system, the providers have kept the mobile graphical system very similar to the charting of the MetaTrader 4 and MetaTrader 5 desktop terminals. Quotes appear as a sequence of bars and a total of 2,000 to 4,000 bars can be shown on a chart, which is equal to 5-10 years of price history.
Within the mobile application, too, traders can see not merely a static screenshot of a price chart, but also interactive charting with different periods, visualization modes and scaling. CEO of MetaQuotes Software Corp., Renat Fatkhullin concedes that this is much more difficult for them to operationalize, but at the same time critical in opening up important opportunities for the users.
In the next version, we will add a powerful analytical functionality, so traders will have the maximum information in their pocket, he added.