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When Spread Betting Met The iPhone - City Index
Dec 11, 2010 (08:12 AM EST)
LONDON, December 11, 2010 /PRNewswire-FirstCall/ -- It was just over a year ago that financial spread betting provider City Index (http://www.cityindex.co.uk) launched the first live spread betting and CFD trading (http://www.cityindex.co.uk/cfd-trading/) iPhone(TM) app. Since then, the company has been named 'Best Mobile Trading Platform' at the 2010 Money AM Online Finance Awards and the City TradingTM application has been downloaded thousands of times. But how has the introduction of iPhone trading altered spread betting itself?
Joshua Raymond, Market Strategist at City Index, believes that mobile trading platforms ( http://www.cityindex.co.uk/trading-platform/mobile-trading-platform.aspx) and iPhone spread betting are living up to their potential as the future of trading. "I think [iPhone spread betting] is fantastic. With many markets available to trade 24 hours a day, it is imperative that you can react with just a few clicks of a button. For me, the future of spread betting is mobile dealing."
Along with the additional freedom and opportunities that iPhone spread betting ( http://www.cityindex.co.uk/trading-platform/iphone-trading-platform.aspx) has introduced, however, it has also created a need for some traders to adapt their spread betting styles accordingly. As Raymond states: "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." This makes careful market analysis and a thorough spread betting strategy at least as vital - if not even more so - to iPhone spread betting as it is to any other form of financial trading.
In addition to actual trading, iPhone spread betting apps also facilitate market analysis, allowing you to keep up-to-date with price movements, charting and financial news in your spare moments. This kind of research is at the heart of both technical analysis and fundamental analysis in financial spread betting (http://www.cityindex.co.uk/spread-betting/), and can go some way to ensuring sure that your trading is fuelled by fact rather than instinct.
Finally, with iPhone transactions now accounting for 15% of all City Index trades, mobile spread betting is undoubtedly proving a valuable tool in many traders' arsenals. As the technology continues to evolve, so too does the future of spread betting.
Learn more about iPhone spread betting at http://www.cityindex.co.uk/trading-platform/iphone-trading-platform.aspx.
Alternatively, you can download the City Index iPhone app 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.
Spread betting and CFD trading are exempt from UK stamp duty. Spread betting is also exempt from UK Capital Gains Tax. However, tax laws are subject to change and depend on individual circumstances. Please seek independent advice if necessary.
iPhone(TM) is a trademark of Apple Inc. App Store is a service mark of Apple Inc.
SOURCE City Index