Speed and precision are two key factors for a successful forex career. This is because the primary aim of a forex trader is to gain maximum profits from his investments. Forex trading started from the days of banks and gradually shifted to computers. This was followed by Symbian forex which marked the beginning of mobile trading. However, Symbian phones were not technologically advanced and could not cater to the needs of this fast-paced market. This was when smartphones made their way into the world of forex trading.
What were the backdrops of Symbian forex?
Symbian smartphones were operated through buttons and used Java as their base OS. Where they were small and compact, certain disadvantages hindered their use in the world of forex:
Forex trading involves accurate visualization of market prices. A Symbian phone had a comparatively smaller screen as compared to today’s smartphones. As a result, reading currency prices and following news releases was exceedingly difficult.
Unlike smartphones, Symbian forex lacked the benefits of apps. As a result, one had to access the URL of his broker’s site, log in and perform the required operations. This was not only a cumbersome process but often led to the loss of pips due to slippage and latency.
Symbian OS slow in the execution of files. Applications took the time to start, and browsers did not respond to internet connections. Often the only option left for a trader was to call up his broker and place his trade.
Benedictions of smartphones over Symbian forex:
The advent of smartphones entirely changed the scenarios of forex trading. It took trading to the hands of an investor. Particular areas where a smartphone overshadows a Symbian phone are as follows:
Individuals involved in full day Office or college do not get the privilege to monitor their market at all times. However, with a forex app, they can remain updated with the latest news releases through notifications.
These are so designed that a forex trader will get updates even without the need to unlock his phone. This saves precious time and increases accuracy.
- Big screen:
Unlike Symbian forex, these gizmos are fully touch-capable giving them larger screens. A large screen enables users to technically analyze the market prices, check for news forecasts and give their trade an actual opening. Simply put, they are more efficient.
Maybe one of the biggest advantages, multitasking has significantly benefitted forex trading. For example, an investor can open the forex news calendar alongside his trading account. In hours of a significant news release, this enables a trader to predict the right prices and make the correct adjustments to currency pairs.
Although Symbian forex brought trading to phones, the various limitations posed by it paved the way for smartphones. These are fast, efficient as well as facilitates electronic trading. So, if you are still using a Symbian phone, upgrade now and start trading from the comfort of a smartphone.
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.