LONDON, January 20, 2011 /PRNewswire/ -- City Index (http://www.cityindex.co.uk) launched the financial industry's first live spread betting and CFD trading app in October 2009. It was downloaded 10,000 times before the end of the year and the company went on to win 'Best Mobile Trading Platform' at the 2010 MoneyAM Online Finance Awards.
However, while financial spread betting on the move continues to grow in popularity, there is a school of thought that views mobile trading as simply an alternative to pre-placing spread betting orders from your online trading platform.
Joshua Raymond, Market Strategist at City Index, takes a different view. Praising the introduction of mobile spread betting technology, he said: "Spread bettors traditionally seek out volatility to create trading opportunities, and with this comes quick price changes. It is crucial that a spread better is able to react quickly, by both monitoring live prices and trading whenever they see an opportunity, on the go."
It is this ability to react wherever you are that means you should not dismiss iPhone spread betting and mobile trading platforms out of hand. When you place financial spread bet orders from your online trading platform, you do so with the current news activity and market conditions in mind. But what happens if, after leaving your computer, the situation changes dramatically? How do you react quickly and correctly to manage your risk? Here, mobile trading and iPhone spread betting fill a gap that orders placed online cannot.
The financial markets have the potential to change at any given moment, and so should you. Therefore any tool that brings a greater level of flexibility to your spread betting (http://www.cityindex.co.uk/spread-betting ) is worth considering. That is not to say you will want to use mobile trading every day or even every month. iPhone spread betting and mobile trading platforms simply add another trading tool to your box - one which could make a valuable difference to your spread betting in the future.
Of course, as Mr Raymond is keen to point out, there are additional risks to consider when using mobile trading platforms and iPhone spread betting (http://www.cityindex.co.uk/trading-platform/iphone-trading-platform.aspx). "The concept behind mobile dealing is to increase your potential to access prices whenever you want. The disadvantage could be that the more you look at prices moving, the higher is the potential for you to make impulse trades without proper research and analysis.
"Make sure you have carefully analysed your market before trading, regardless of whether you execute your trades via a mobile, online or phone." Naturally, no trader should ever open a financial spread bet without having an in-depth knowledge of the market and the influences upon it. Regardless of the trading platform you use, always make sure that you fully understand the risks of spread betting.
Find out more about mobile trading with City Index at http://www.cityindex.co.uk/trading-platform/mobile-trading-platform.aspx.
Download the spread betting and CFD trading App for the iPhone at http://itunes.apple.com/gb/app/city-trading/id330261202.
Spread betting and CFD trading are leveraged products which can result in losses greater than your initial deposit. Ensure you fully understand the risks.
iPhone is a trademark of Apple Inc. App Store is a service mark of Apple Inc.
SOURCE City Index