FX trading could, like a variety of financial services, be conducted primarily through a mobile device in a few short years, according to a survey conducted by JPMorgan Chase.
The survey found that 61% of traders are “extremely” or “somewhat” likely to use a mobile trading app in 2018.
However, while survey respondents (the majority of which were FX traders) seemed quite willing to make the jump to mobile, their bosses seemed less inclined: half of the survey participants cited company policy which prevents conducting trades on a mobile phone as the main obstacle for their use of trading apps.
However, JPMorgan Chase itself does not seem to hold with such a policy: the bank has its own mobile app for FX trading, which often sees $100 million deals pass through. The biggest trade on the mobile app was over $400 million, the bank told Bloomberg.
Read more at Bloomberg and JPMorgan Chase.
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