There’s a way to trade shares and FX on the Apple Watch, which officially went on sale today.
In true Bond style, you will be able to execute trades and monitor market positions on the device, with online trading platform IG Markets unveiling an app for the device today.
The launch of a trading app on a wearable shows just how far trading has evolved from the days when traders would use a communal phone to place orders.
“We believe trading on a watch is another important step in simplifying the trading and user experience,” IG’s Asia-Pacific boss, Tamas Szabo, said.
“Apple has a track record of transforming everything they have gone into, just as IG has transformed online trading. We are excited to be part of this latest development, and to have created something we feel our clients will truly value.”
This chart shows IG markets has benefited from a rising mobile customer base, particular from iPhone users. Nearly 35% of IG’s revenue was traded on a mobile device.
IG Markets researcher Chris Weston said 83% of the company’s clients use a smartphone device to trade and it’s expected that number will progressively increase in the future.
“We work in a market that’s very short term,” Weston said.
“If you are trading fairly short term you want to check your positions pretty quickly.
“You can never escape the markets, they’re always with you now.”
The new app will be available on the watch in nine countries from April 24. It has been designed to be accessed with a one tap login and will sync with your iPhone. The app also has push notifications so you can stay up-to-date on your positions just by looking at your wrist.
In terms of design, IG said it had to simplify the trading experience to enable it to be used on small personal devices.
It’s also loaded up with an economic calendar which ensures you’re aware of the day’s major financial events. It means users will be able to see how macroeconomic events affect their positions and act on actual figures the very moment they’re announced.