LONDON, October 14, 2011 /PRNewswire/ --
In October 2009, City Index (http://www.cityindex.co.uk/) launched City Trading™, the first live spread betting and CFD trading iPhone™ app. Two years later, how has the growth of iPhone trading changed the face of spread betting and CFD trading?
Before 2009, around 95 percent of spread bettors managed their positions online, but this statistic is changing - as Joshua Raymond, Chief Market Strategist at City Index, points out. "Before we brought out [City Trading™] our total trade volumes through mobile devices accounted for about 2 percent of our business. Today, that figure is closer to 25 percent - helped no doubt by the additional mobile trading applications we have brought out for Android and BlackBerry."
There is also a suggestion the increased availability of spread betting platforms has opened up the markets to a wider audience. Mr. Raymond continues: "Ten years ago, the standard spread bettor would be 45 years old, male and have actively worked in the city. Today, their backgrounds are much more diverse."
"For every banker opening an account there are now two engineers. For every engineer there is a chartered surveyor. For every chartered surveyor there is a taxi driver and so on and so forth. The standard profile of a spread bettor has and will continue to change over time."
City Index was named 'Best Mobile Trading Platform' at the 2010 and 2011 Money AM Online Finance Awards and the City Trading™ application was voted the FT's Innovation of the Year. The company released an upgraded version of City Trading™ across iPhone, Android and BlackBerry earlier this year.
Learn more about mobile spread betting with City Index at:
Spread betting and CFD trading are leveraged products which can result in losses greater than your initial deposit. Ensure you fully understand the risks.
iPhone™ is a trademark of Apple Inc. App Store is a service mark of Apple Inc.
About City Index:
Today more and more individual traders are discovering the benefits of derivatives, and many of them are discovering them through a City Index trading platform.
As a group, we transact in excess of 1.5 million trades every month for individuals in over 50 countries worldwide. We provide access to a wide range of instruments including margined foreign exchange, contracts for difference (CFDs) and, in the UK, financial spread betting.
We constantly look to widen the range of assets we offer, improve the performance of our platforms and expand the range of services we provide. The result is that our customers benefit from innovative trading tools with transparent pricing, competitive spreads, and a high standard of customer service and support. Visit http://www.cityindex.co.uk/ for more on spread betting and CFD trading.
SOURCE City Index