FinTech: how to choose where to trade forex
Over the years, the financial services industry has offered a variety of technologies to facilitate different kinds of tasks and transactions for clients. Fintech is one of the world’s fastest-growing industries. It ensures a higher level of convenience and security compared to traditional financial services.
According to Business Research Company, the global Fintech market will reach a value of $ 158,014.3 million by 2023. Research shows that 60% of credit unions and 49% of banks in the United States alone stress the importance of fintech partnership.
What is a Fintech app?
Fintech apps are web or mobile applications used to simplify the delivery and use of financial services. These applications have become especially popular today as financial services “went digital”, which allowed for faster and more efficient delivery.
The highest number of fintech applications were installed in Latin America. In second place is the Asia-Pacific region, followed by Africa and the Middle East. The total number of app downloads there has doubled over the past year. In North America, app installs have been growing by 25% every year since 2017.
In Europe, the number of downloads increased by 34% between 2017 and 2018, but by the end of 2019, the growth slowed to a modest 8%.
The coronavirus pandemic has caused a sudden change in consumer behavior, driving the explosive growth of the fintech sector. The popularity of fintech apps skyrocketed along with food delivery, educational and other types of applications.
The reason for such rapid growth is simple: people were faced with the need to handle their day-to-day tasks online. In the United States, the largest number of apps are installed for trading, while investment apps have become increasingly popular in Russia. Most of these apps are offered by large banks.
Using fintech apps, people strived to solve all kinds of tasks. As a result, fintech sessions boomed by 85% in 2020 compared to 2019. In 2021 it increased by 49%. This growth trend was observed throughout the year. In 2020, the most prolific months in terms of fintech sessions were October (+ 22%) and November (+ 24%). In the first week of July 2020, the number of sessions rose by 15%.
But how do these fintech apps retain their users? What is the secret of generating long-term interest? First of all, these apps create a certain community, an environment that includes many people with common interests. As a result, everyone can take advantage of someone else’s experience and knowledge and apply it in practice. This helps people stay competitive.
Features of trading applications
Trading apps are designed to simplify both the trading and investment process. With just one tap, users can make an investment or place a trade in the financial market.
A modern trading app has all the necessary features and tools for effective and seamless trading. They basically have the same functionality as desktop trading software. But it’s worth noting that you can access most of these functions only through a broker.
Trading apps make trading available to almost everyone. But it’s important to understand that without the appropriate knowledge, you won’t be able to turn it into a source of steady income.
When looking for the best trading app, it’s essential to consider such important criteria as the trading targets of a particular user and the level of their trading experience. Novice traders should opt for simpler apps, while experienced traders that have a more profound understanding of the market may need a more complex trading application with enhanced functionality to meet their trading needs.
If you are looking for a suitable trading app, here are some important characteristics that are worth paying attention to.
How to find your perfect trading app
While it may seem that in terms of functionality, all trading applications are the same, it’s not exactly true. They can differ in price and efficiency. When choosing a trading app and weighing the pros and cons, make sure that the app matches your trading style.
Don’t forget to check if the application is compatible with your mobile device. If you plan to trade using not only your phone but other devices – a laptop, or a tablet, opt for the mobile app that works well on all of your devices.
Below you will find a short guide to choosing the best trading app. Also, consider such factors as commissions, fees, regulation and overall performance.
Since the trading app must make the trading process more convenient and efficient, its compatibility with a mobile device is vital. Many brokers offer mobile trading apps now, but most of these apps are built on Android and iOS. For example, AMarkets has a trading application that runs on both Android and iOS. If your mobile device supports a different OS, you may encounter some problems when choosing an application.
Selection of trading assets
Modern apps allow you to trade not only currency but other asset classes. When choosing a trading app, check out the list of available trading instruments to see if the app has your assets of interest.
It also makes sense to assess the selection of assets in a specific category. If you prefer currency instruments, then the app should provide you with the opportunity to trade not only major currency pairs but also minor or exotic ones.
The interface is probably one of the most important moments to consider. It’s all about convenience. Even a great app with excellent functionality and features will be hard to use if the interface is complex and design leaves much to be desired. Choose an app that has a practical, intuitive and user-friendly interface. With an intuitive interface, you will be able to enjoy the trading process and focus on developing your trading strategies.
The trading application is an indispensable assistant of a trader. You are no longer tied to a trading terminal. You are free to move around because you can now trade on the go. Yes, it may be tricky to perform full-fledged market analysis in the app, but it’s perfect for monitoring trades or entering the market if you already have the exact entry point in mind.
Recently, on November 5, it was announced that DBA would be listed on LBank Exchange, which is one of the most popular crypto exchanges. The clients of the LBank Exchange will now be able to easily buy and sell DBA token and make profits.
Based in Hong Kong, LBank offers traders numerous services. The company offers numerous advantages to traders, including low trading fees, a large number of tradable assets, and a reliable API, which allows safe and secure connection of trading bots with LBank exchange accounts.
Those using the services of the exchange can use the trading bot on LBank to trade DBA. Automated trading has become very popular over the past few years and it offers traders around the world the opportunity to make profits in an easier and more efficient manner in the crypto trading market.
LBank is among one of the largest crypto exchanges around the world, with a 24-hour trading volume of over $1 billion.
Crypto Trading in Africa
The main aim of DafriBank is to support the further development of the crypto trading industry around the world as well as in Africa. The company does this by providing access to financial instruments to society digitally around the world.
In the ever-changing industry of the crypto trading market in Africa, the steps taken by companies like DafriBank is very important for the future development of the crypto trading market.
Over the past few years, Africa has proven itself as one of the largest and most exciting markets for the crypto trading industry. The main reason for this is the huge interest that the people of the region have in the crypto trading market.
Recently, numerous studies, researches, and statistics have been published showing just how popular the crypto trading market is in Africa. One of these reports, published by Chainalysis showed that the region is one of the leaders when it comes to crypto trading adoption.
However, although the interest of people of the region in the cryptocurrency trading market is huge, the local regulations and authorities are not doing enough to make the market accessible for people of all different backgrounds and interests in the region.
Raza and his team believe that by offering incentives to users who publish the best answers, they can create a Q&A platform that trumps everything of its kind. This incentive comes in the form of Answerly tokens. Upon reaching 10 ANSR tokens, users can withdraw their earnings through their Stellar wallet and trade it for fiat.
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Answerly is still in its infancy, but it’s shaping to be one of the most exciting Q&A platforms yet. Sharing knowledge lies at the core of such websites, and it’s always welcome to do so while generating money at the same time.