Whether you’re new to the world of trading or you’ve been involved for a number of years, you’re likely to have your preference when it comes to PC or mobile. It’s safe to say that mobile forex trading isn’t like trading on a laptop device, and each comes with its advantages and disadvantages. But has mobile improved enough to make faster trading decisions, or are laptops still the way to go?
Although you’re likely to have been taught about how to manage risks, have a good strategy and all about managing your emotions to achieve success in the forex world, did you ever dive into the pros and cons of trading on mobile and PC?
Advantages of trading on mobile
Thanks to a number of trading platforms becoming readily available on both, you have a wealth of options at your fingertips. One to note it the MT4 trading platform, which is available on both mobile and PC. As far as mobile is concerned, it’s compatible with Android and iOS interfaced phones, meaning that no matter if you have an iPhone, Google, Samsung or other brand of phone, you’ll have trading at your fingertips no matter where in the world you are.
Because of its easy-to-use user interface and enhanced functionality, you’ll be able to trade on the forex market comfortably.
Advantages of trading on laptop
Many would say that trading on PC is the better option for any experienced trader – although it may be simply down to preference. When you’re in the midst of trading, you’re likely to want a bigger screen to avoid making any mistakes like missing a good level because your screen was too small for you to notice!
Having a big screen can work to your advantage because it lays everything bare on the charts for you to see enough – this will allow you to make more accurate decisions on whether to buy or sell.
Disadvantages of trading on mobile
Having access to your trading account all the time can be a blessing and a curse. Trading has more of a psychological component than many think that often gets ignored by traders. It’s easy to go bust because of greed and fear, something that can arise from being on your trading account every waking moment of the day. Often this can lead to overthinking and overtrading, and therefore higher risks.
Disadvantages of trading on laptop
Like everything in life, there are pros and cons to both options here. One of the biggest downsides of trading on a laptop is they’re simply not as portable as a mobile phone is. Although they’re much more streamline than they have ever been, they’re still much bigger than a phone or tablet, and depending on when you need to be online to trade, can be a hassle.
Ultimately the decision of which device to trade on is completely yours. Make sure you weight up the pros and cons of both, that way your trading experience is more likely to be personal to you and one you enjoy.