Tech improvements advancing the forex industry

If you’re keen enough, you can agree that a lot has changed in forex. Things are not as they used to be fifty or so years ago. And one of the things that has contributed to this revolution is technology. For instance, unlike in past years when markets were not as accessible, online platforms have now made it possible to join the industry with just a touch of a button.

It’s actually why, according to IMARC Group, the global market reached $865 billion in 2024 and could continue growing to $1535 billion by 2033. On top of that, forex platforms have made it easy for investors to join the market – even those without the required skillset. For example, you can take advantage of a demo trading account and learn about different aspects of the industry without risking losing money. But in this article, we will take a keen focus on how technology has impacted the industry and continues to do so.

The rise of virtual private servers (VPS)

Assuming you were trading on your favorite platform on a PC and suddenly, there was a power outage that affected your internet connection, what would you do? Or perhaps your desktop experiences a system glitch, or it freezes and completely stops working. This can really affect you, as you won’t be able to open, close or amend trades.

That is where forex VPS comes in – it keeps you connected regardless of such occurrences. Think of it as a cloud-based desktop PC that can be accessed from any other device within reach. And the best part is that you can have several of them on the same computer, each with its own amount of CPU power and space.

You can now actually take advantage of a free VPS and enjoy a continuous internet connection and faster execution speeds. In fact, according to some experts, the servers often offer CPU speeds up to 20% higher than traditional ones because of their larger RAMs. Remember, forex is such a fast-moving market, and even a millisecond can matter a lot. To help with this, these servers reduce the distance between users and exchanges, leading to lower latencies and, thus, minimal chances of slippage.

The popularity of mobile devices

Who could have thought that one day, services could be accessed anywhere, whether on the go, in the office or at home? Well, thankfully, this is what mobile technology has brought. You now no longer need to get to a particular physical destination before you can access whatever service. As long as your internet connection is okay, you should be good to go.

And by the way, do you actually know that close to 5.75 billion people own a mobile phone globally? This is almost 70% of the world’s population of more than eight billion people. In forex, some studies claim that more than 78% of traders search for brokers using mobile or tablet devices, providing good grounds for mobile-friendly sites to differentiate themselves.

After all, who would want an inconsistent experience just because they are using mobile browsers? You definitely would not want to have instances of pinch or zoom just because you switched from desktop to mobile. Realizing this, brokers are coming up with responsive websites that can work well on multiple devices.

The good thing about such designs is that they automatically adjust to fit the screen size in use, so you won’t need to keep adjusting your web design. That makes them quite cheaper to maintain than traditional designs. And you may actually be surprised that more than 90% of businesses worldwide have already implemented them, mirroring a growing trend in the forex industry.

The role of artificial intelligence

Now, with AI, what might have seemed far-fetched has now become possible. Can you imagine the amount of data available in this industry and what it can cost you just to put it together and derive meaningful insights? Well, humanly speaking, this is quite unsurmountable, but not with AI.

This technology has an unparalleled computational ability that enables it to crunch huge amounts of data in a matter of seconds. That makes it possible to analyze data from various sources like economic indicators, news releases, social media, etc., to provide traders with insights about market conditions all at once. And for those patterns that you may not notice, AI can identify them.

Another thing that draws traders’ attention of traders to AI is risk management. Emotional pressure is one of the greatest undoing of traders. This is not just limited to when markets are not moving in your favor, but even when things seem to be working well, you can be pressured. Thankfully, artificial intelligence does not have such emotions to deal with and can thus provide unbiased suggestions.

We are always looking for ways to improve our life experiences, and technology plays a huge role. Even in forex, tech improvements have really transformed the sector. Online platforms, for instance, have opened what was once a niche-based sector to millions of followers. And to make matters even better, mobile technology improves market access, as traders can participate even on the go.

Artificial intelligence has only bettered the experience with its enormous computational ability, which allows it to derive meaningful insights from a vast data library in seconds. Looking at all these factors, it’s true that this sector could actually make more significant strides in the coming days.