Mobile Internet Growth Leapfrogs Online Forex Trading- FXTM

Andreas Thalassinos, head of Trader Education at Forex Times (FXTM), leading forex broker specialising in forex trading, has identified increase in mobile internet usage as spurring online forex trading in Nigeria.

He made the remark during an interview session on recent trading seminars organised by FXTM in Lagos and Abuja respectively, adding that FXTM believes that trader-education is critical in the sector.

The seminar series began at the end of last month with an advanced 1-day free seminar titled ‘The Ultimate Trading Formula’, which he described as was extremely popular with over 250 participants.

Thalassinos said, “The growth of mobile internet has been particularly important for enabling online trading in Nigeria, with the latest generation of smartphones enabling even easier access to the internet. In response to this shift towards mobile, we have recently updated our popular ForexTime App for iOS and Android, which has already seen high levels of interest from Nigerian traders who account for over 15% of global downloads”.

He said that the latest version of the App offers an innovative ‘one-stop’ trading solution, providing the ability to receive on-the-spot updates on the financial markets, open and fully verify a trading account, deposit and withdraw funds and download a trading platform.

Speaking on other developments FXTM has in the pipeline for the rest of the year, Thalassinos said that 2016 has been a busy year so far; “in addition to opening our UK office and securing our South Africa license, in the first half of the year we launched our Shares Account which offers traders access to 180 company shares with a direct connection to product pricing on the NYSE and NASDAQ exchanges, and FXTM Invest, our investment and copy trading program.

“In the second half of the year, we have already launched a new version of the ForexTime App which now seamlessly integrates users’ ability to quickly and easily manage and access trading accounts, while staying on top of financial market movements on-the-go. In the pipeline, we have an exciting update to our affiliate program and the expansion of our educational program. We will also be continuing to sponsor BASE jumper and Red Bull athlete, Valery Rozov, as part of the exciting #FXTMbasejump Project, with regular updates being posted to our website.

On how traders ensure that their strategies are successful, he said, “Each trader should look to develop a strategy which is tailored to their trading style and risk appetite. No matter the strategy, understanding and paying close attention to the markets is essential, which is why traders can really benefit from our daily market analysis reports and updates on the markets provided by our in-house team of expert analysts. By developing and testing their strategy in advance and anticipating potential volatility, traders will be better equipped to take advantage of opportunities and manage the risks in the markets. Our clients can also take advantage of the great new hedging feature we’ve recently started to offer on the MT5 trading platform. Using this feature, traders can now implement more sophisticated trading strategies which can respond to both negative and positive price movements”.