Forex trading has seen a significant increase in activity and trading volumes in recent times, from approximately $5.1 trillion in 2016 to $6.6 trillion towards the end of 2020.
This is thanks largely to the evolution of the market and the emergence of trading platforms such as Oanda, which enable part-time and aspiring traders to execute real-time trades through both mobile and desktop channels.
However, there’s a strong argument to suggest that desktop trading is more beneficial to traders. But why is this the case, and what are the core elements of desktop trading that offer investors a competitive edge? Let’s find out!
1. Access Bigger and More Capacious Trading Platforms
Brokerage sites like Oanda are compatible with a number of high-powered trading platforms, including the iconic MetaTrader 4. This platform is synonymous with forex trading, thanks to its customisable charts and large range of relevant technical indicators.
Another benefit of this type of platform is the fact that it allows for the superior visual presentation of analysis and datasets, which is often best enjoyed on the type of larger display featured on desktops and (to a lesser extent) laptops.
In this respect, desktop trading arguably makes it easy to view a larger number of technical indicators and datasets in real-time, allowing for more informed decision making without compromising on the speed required to act.
You’ll certainly be able to view data with greater clarity, which is important when you’re looking to execute a trading strategy and maintain a clear level of focus.
2. Access Far Greater Processing Power
Despite the advancements made in terms of mobile chipsets and operating capacity, desktop computers remain inherently more powerful than smartphones or tablet devices.
This enables you to process larger datasets quickly and efficiently, without causing any kind of lag or buffering when accessing your chosen brokerage site or trading platform.
This is a crucial consideration, especially if you’re a scalper or day trader. After all, these types of strategy require you to analyse large datasets on a daily basis, while they also demand real-time execution if you’re to optimise your overall profitability.
What’s more, computers afford you far greater control and speed when executing real-time orders, which again translates into increased levels of profitability over time.
3. Create an Office and Professional Trading Environment
While desktop computers may lack the flexibility and portability of smartphones, they also create a permanent and dedicated workspace in which you can conduct market analysis and execute trades.
This is ideal for novice traders who are serious about making money and want to scale their efforts over time, as they can build a professional trading environment around their computer and optimise their efficiency in the process. It is safe to read a Global Fraud Protection review before starting trading.
By creating a quiet and dedicated location in which to trade, you can also create a viable schedule of work that fits around your day job (where applicable) and family responsibilities.