How Technology Has Transformed Trading

Technology has revolutionized the world we live in. Like some mythical leviathan, it has wrapped its transparent tentacles around the globe, its influence creeping into every single aspect of our daily lives. Could you even have imagined the concept of a pocket computer just 15 years ago? Today we cannot live without those crazy smart phones.

We use technology for everything from dating to staying in touch with friends, booking gym classes, doing our weekly grocery shopping, and even monitoring our health. Businesses would fail without it, teenagers are at a loose end any time they don’t have a smart phone in their hand, and none of us would know how to use a map anymore if our GPS suddenly just upped and disappeared.

Forex trading, like everything else, has been affected. It has developed, grown, and expanded to an unprecedented degree through the advent of the internet. This article will look at just a few of the ways that technology has transformed modern trading…

#1: Speed

Before the advent of the modern technology that does it for them, brokers had a far more laborious system of placing trades. This system could take the numbers on display a while to catch up with the actual real-time figures. Ever heard of those “these quotes are delayed by 15 minutes” disclaimer on your popular trading software just a couple of years ago? Not anymore!

Back when this delay was still a thing, this meant that people were often working with out-of-date information. Their decisions based on data that had become erroneous. Today, this has all changed of course. With technology that can complete a trade in less than the time it takes you to blink, material is nearly always entirely accurate. This means that you can make trading decisions based on only the most up-to-date data.

#2: Accessibility

The development of technology has also made trading much more accessible to the masses. With the ability to trade online came a surge of new brokers offering prices that were affordable for all. Trades through a broker used to cost $50-$80 at a time. Now, you may pay $5 or less per trade! The new-found freedom to work anywhere and at any time also finally made trading a viable solution for those weighed down by other commitments. This amount of accessibility has provided the opportunity to snatch a moment to trade whenever a spare second arises.

#3: Flexibility

Thirdly and finally, the advent of new and revolutionary technology has helped to make forex and stock market trading increasingly flexible. Considering that traders can make their moves whether they’re on the train or in the office during their lunch break, people are no longer constrained by their location or working day. This has made it much easier to trade according to your own timetable and preferences. Whether you wish to trade from home at 6am, or on a park bench at 3:30pm on your journey back from work, brokers have ensured that the choice is now well and truly yours.