Forex is currently the largest investment market in the entire globe dwelling in currency volumes worth $ 5 trillion each day. It remains open for 24 hours a day, 5 and half days a week and incorporates more than 1 million traders on its platform. In fact, currency trading initially instigated with banks which gradually gave way to brokers and PC trading. However, the last decade has seen investments come down to the comfort of one’s smartphones and thus the need arises for Forex android robot.
Mobile trading and its efficacies
Forex being a highly volatile market provides investors with profitable opening and closing positions all throughout the day. Moreover, with the presence of its eight major currency sessions, exploiting volatilities remains the prime concern of any trader.
However, full time job holders and students may not be able to keep a track of their accounts all day. This is where the need for android robots for Forex proves to be helpful. Let’s take a note at some of the benefits one can avail from these robots –
- Trade on the go:
Perhaps one of the biggest perks of trading Forex through Android is investors can monitor their accounts on the go. This facilitates them to open or close their trades from the convenience of their smartphones.
Moreover, investors will also be able to manipulate trading strategies and make their purchases depending on varying lot sizes and leverage ratios.
On installing a Forex robot for android on smartphones, investors will be able to receive periodic notifications on the live market condition. In fact, any reliable trading software or robot will provide traders with immediate updates about unprecedented market releases in the form of indicators.
These indicators help a person judge the vulnerability of a new release and its capability to impact the market conditions. If any notification projects a red indication, then traders can immediate make alterations in their investment strategies.
- One account, multiple trades:
Considering Android, these Forex robots are available through mobile apps or web apps. Whatever be the scenario, users can afford to maintain multiple accounts on a single device. This allows them to go for subsequent hedging benefiting on the price fluctuations of the same currency pair on different accounts.
- Exploiting sessions:
There are eight major sessions in Forex representing the eight major currencies of this FX market. A Forex android robot facilitates users to exploit the maximum price fluctuations during session overlaps. These also allow traders to escalate their profits by leveraging their positions in the general ratios of 50:1 or 100:1.
In addition to the above benefits a Forex robot for Android provides traders with the efficacies of a demo account. This demo account facilitates traders to try out their strategies using virtual currencies, before making real life investments.
So, if you are a newbie trader or a veteran one, do not delay. Competition is high and it is imperative that you sign up with a trustable broker of your choice who provides a Forex android robot.
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.