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City Index expands trading function to mobile app

The company’s clients can use the platform by logging into their trading account. Users can also view streaming charts, mini charts and news feeds.

“With the world’s financial markets moving fast, it is incredibly important that we give our clients access to their trading accounts wherever they are, whenever they want,” said Joshua Raymond, market strategist at City Index, Britain.

“Our mobile trading platforms form a natural part of this aim,” he said. “One of our brand aims is to remain at the forefront of innovation both in terms of the products we offer and the technology we supply our clients to be able to take advantage of the financial markets.

“Two years ago we highlighted a gap in the market for providing complete and innovative mobile solutions to clients who wanted to be able to trade the financial markets on the move.”

As a group, City Index transacts in excess of 1.5 million trades every month in more than 50 countries worldwide.

Mobile trading
The application lets clients check the latest prices and market movements.

Users can open and close positions, set stops and limits to orders and create new or amend existing orders.

Additionally, clients can view their pending, completed and cancelled orders.

“It is crucial that we give our clients instant and complete access to their trading accounts and live price,” Mr. Raymond said. “Previously clients had to log into their computers to access our browser based platform or phone the dealing desk directly.

“So giving our clients a mobile solution is critical in helping them to keep their trading edge,” he said. “Over the last 18 months the percentage of trades placed over our mobile platforms has grown from 2 percent to 25 percent, whilst we have seen 40 percent of clients now using their mobiles to trade the financial markets.”

Monitor history
Clients can monitor their positions using the application’s positions chart, as well as view and amend multiple watchlists.

In addition, users can review trade and order history.

The company is also looking to upgrade its existing BlackBerry platform.

“Our ultimate goal is to give clients every niche of our browser-based trading platform through their mobile and this primarily means giving them access to not just market prices, but also real time charts, live news and research,” Mr. Raymond said.

“Recently we have upgraded our City Trading app to include real-time news and live charts with multiple technical indicators, helping clients to investigate price patterns to make better informed trading decisions on the move,” he said.

Final Take
Rimma Kats is staff reporter on Mobile Commerce Daily, New York