Fintech, derived from financial technology, can simply be defined as new technology that seeks to improve and automate both the delivery and the use of financial services.
At its core, fintech aims to help companies, business owners, entrepreneurs, and consumers manage their financial operations, processes, and lives by using specialized software as well as algorithms that are used on computers and, increasingly, smartphones.
Smartphone technology has evolved in such a manner that Google and other search engines often rank businesses that have mobile compatibility higher on search results than others, leading to many companies optimizing their websites while others turn towards mobile applications.
These technological advances have led to many forex brokers and financial institutions offering a wide range of trading solutions across mobile apps, allowing forex traders easy access to the forex markets.
With the help of artificial intelligence, machine learning, and several other innovations, forex traders are provided with an intuitive environment where they no longer need to sit and watch their trading terminal, scouring the forex market for ideal trading opportunities.
It can now happen in the palm of their hand using mobile trading apps and forex robots that allow for automated trading.
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Most entrepreneurs have a trading app installed on their phones – why?
Many entrepreneurs have their trading apps installed on their smartphones, allowing them to access a wide range of financial instruments, their trading accounts, and a range of trading tools such as their economic calendar, technical analysis, market analysis, and fundamental analysis, to only name a few.
The following are proven benefits derived from mobile technology aimed at trading in financial markets.
The Benefits of Mobile Trading
As an entrepreneur who has financial freedom, the chances are that the portfolio forex traders build will be one of many commitments. Forex trading requires time, patience, dedication, and concentration and mobile trading makes it easy for entrepreneurs to remain connected to their trading profiles through a forex trading application.
Mobile trading also offers a significant amount of convenience, allowing entrepreneurs to keep an eye on their forex trades while they have unlimited access to financial information, forex trading statistics, and a wide range of trading opportunities.
Mobile trading also has the benefit that entrepreneurs can receive a notification on their phone once there are favorable market conditions, allowing them to easily enter and exit trades without skipping a beat.
With forex trading apps being available across Android, iOS, Blackberry, and Windows mobile phones, entrepreneurs’ rate of success is improved as they have easy access to their trading accounts, portfolios, and the currency market.
In addition, many active traders will also find that they can still use a range of trading strategies, view in-depth charts, conduct technical analysis as well as fundamental analysis, review news, and keep an eye on market movements without putting a halt on daily activities. There are many reputable and well-regulated online brokers in South Africa who offer proprietary mobile trading platforms through which experienced traders, as well as beginners, can access trading and reap the benefits of trading in foreign exchange markets 24 hours a day, 5 days a week.