Aug 06, 2020 10:21 AM EDT

Online Trading from Mobile Device

Online Trading from Mobile Device

(Photo : Online Trading from Mobile Device)

Nigeria is seeing a surge in trading through the Internet. Now, when global brokerages recognize the potential of the region, their client base is growing. Online trading gives everyone a chance to turn knowledge into a steady income. The job does not require a wide arsenal: all you need is a computer, a tablet, or a smartphone.

Reliable brands optimize their websites from mobile devices and invest in app development. Cutting-edge portable solutions allow users to receive market data and manage their trades even on the go. These are advanced pieces of dedicated software, and they are accessible for free. 

The Rise of the Portable

PCs are now associated with offices, rather than personal use. Laptops are portable but much heavier than smartphones or tablets. Technological development of the past decade has caused screens to shrink, and weight to decrease. A smartphone fits in your pocket. It means lucrative trades are always a tap away.

In Nigeria, mobile technology is more popular than its desktop predecessor. Modern trading platforms like MetaTrader 4 and MetaTrader 5 have their neat portable versions for devices on Android and iOS. Some brokerages offer their own unique apps, such as FXTM Trader. So, what can trading software do?

Spectacular Functionality

Mobile apps like Metatrader 5 are fully functional substitutes for desktop terminals. No extra downloads are necessary! Traders can easily manage their accounts, analyze market data, and execute trades. 

Top apps are comprehensive solutions that meet all clients' needs. Users may delve into trading as soon as they install it. Here are some of the key advantages of such mobile software:

- hundreds of instruments;
- convenient and diverse charting tools;
- all popular indicators;
- easy tracking of all the positions, opened and closed;
- 1-click trading.

An important feature of mobile MetaTrader 5 is cross-platform compatibility. This means a position may be opened via the desktop version and closed via mobile, or vice versa. This maximizes freedom of trading. Users aren't tied to a certain location - moreover, they switch devices as they like. 

All financial transactions are just as easily controlled via apps. Traders manage deposits and withdrawals whenever they need to. Financial flows are smooth. 

A trading dashboard displays all vital parameters in one place. These are balance, leverage, profit, and other characteristics. Users also receive currency rates in the live mode. This means they are always aware of the current market situation and can manage positions for a maximized profit. No more missed opportunities! 

Where to Begin

Contact your broker to find out about the recommended software. The subsequent procedure is simple, as top apps are available in the App Store and Google Play.

1. Download the app.
2. Install and open it.
3. Sign in.
4. Start trading!

Clients who do not have an account will need to register. There are two options: demo (for training) and live (for real-money trading). Every newbie should begin by exploring the trading system in the safe demo mode.

Different Tradable Instruments

Nigeria-based traders have access to a broad range of tools. Currency pairs are perfect instruments for beginners, as they are the least complex. In addition, other options are traded using the same platforms and terms. As users gain experience, they diversify their money-making tools. 

Increased profit is not the only motivation for doing so. The more instruments you trade - the lower the risks. This is because they are spread over several products. Hence, once you feel comfortable with currencies, explore more opportunities. Importantly, these can all be managed via the same apps:

- Spot metals (silver and gold);
- Stocks of major corporations;
- CFDs on stocks;
- CFDs on commodities;
- CFDs on market indices;
- CFDs on cryptocurrencies.

Contracts for Difference allow you to monetize knowledge of various underlying assets. Importantly, this is a purely virtual tool. It is bought and sold without ownership of physical assets. 

Special Options for Nigeria

Forex brokers allow you to choose between Major, Minor, and Exotic pairs. However, not every company accepts the Nigerian Naira. A notable example is FXTM as it allows local clients to have accounts denominated in the national currency. Entry is also affordable, as a special category of offers (cent accounts) requires only 2,000 Naira as a minimum deposit. 

The Convenience of Mobile Access

Top apps for traders are all-in-one solutions. They allow instant access to current data and speedy execution of trades. Use your smartphone or tablet to connect to global financial markets. Through an efficient app, you will keep abreast of market changes - anytime, anywhere. 

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