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HomeGADGETSChoosing a Smartphone for Traders – Key Considerations

Choosing a Smartphone for Traders – Key Considerations

Choosing a smartphone is not an easy task. You need to consider the phone’s performance, durability, battery life, and other factors.

A trader is a person who buys and sells goods or financial instruments in the hope of making a profit. Traders are also called dealers or speculators. Traders often specialize in one type of trade, such as stocks, bonds, commodities, currencies or derivatives.

Best smartphones

If you are a trader that needs to make quick decisions on the go then you will be looking for a phone with excellent performance and battery life that can withstand any environment you might find yourself in. In this article we will discuss some of the most important considerations for choosing your perfect phone for traders: performance, durability, battery life and more!

Performance

Obviously, the performance of your phone will affect how quickly you can make decisions and trade.  For example, if your phone has a screen resolution of 1080p then many traders will consider this to be sufficient. If you need a higher resolution such as 1440p or 4K then more expensive phones that can handle it are ideal. Most smartphones these days have a processor speed of 2.2GHz or higher which is generally sufficient to trade on.

Durability

As with most things, a phone is only as durable as the materials used in its construction. If you are looking for something that will last you very long and be able to withstand your trading lifestyle then you should go for a phone made from stainless steel or titanium.

Choosing a Smartphone for Traders – Key Considerations

The durable material will help protect the phone when dropped or subjected to other tough conditions.

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Battery life

If you are looking for a phone that has a battery life of more than 24 hours then you should go for one with a big battery. You’ll be able to trade without having to worry about your power running out. Majority of the trading apps are battery intense. The phone’s battery life is one of the most significant features for traders. If a trader wastes a day without charging their phone, it could cause a significant loss in their account and probably ruin the week.

Choosing a Smartphone for Traders – Key Considerations

The best phones for traders will have superior battery life, fast charging capability and efficient energy management to power up those phones when needed.

Biometrics and Security Features

Biometrics features are very important for traders that are concerned with privacy and security. The biometrics features are useful because they can authenticate your identity in an easier way than if you had to type a password.

This is important because typing passwords can be a slow process and not every trader has the time nor patience to do this. The biometrics options most commonly used for traders are:

  • Fingerprints

This is by far the most common biometric feature. It can be used to authenticate your identity faster than a password.

The fingerprints are scanned and stored on a chip that is then connected to the computer via USB port or Bluetooth. Fingerprints are more convenient and easier for traders to use than passwords, but they may not be as secure because they cannot be changed.

Processor Speed

The more processing power your phone has, the faster it can execute tasks. Multi-core processors are becoming more popular on a mobile device and are used to speed up workloads.

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RAM and Storage Processor speed is measured in gigahertz (GHz). A faster processor means the phone can perform more computations per second. Higher-end phones typically have a 1.8 GHz or 2.1 GHz processor. Lower-end phones have a 1,000 MHz or 1,200 MHz processor. A faster processor is better for performance -intensive apps like trading.RAM is measured in gigabytes.

Choosing a Smartphone for Traders – Key Considerations

A phone with 1 GB RAM can store more apps and features than a phone with 512 MB RAM. More RAM is better for multitasking and performance-intensive apps like trading.

Storage typically takes the form of a hard drive, which is measured in terabytes (TB). The number of TB on your phone will determine how much space you have to store your apps and files. The larger the storage size, the longer your phone will last before needing a new upgrade.

Summary

A smart trader needs a Smartphone that is:- Affordable- Durable- Light in weight- Water proof / Dust resistant- Has an external screen with a high refresh rate (60 Hz or higher).

Risky Nature of Mobile Trading

The mobile trading industry is still young, but it has grown quite rapidly. Because of this growth, the industry has experienced a few new complications such as:• Mixing mobile and online activity.• Hostile work environments.• The risk of insider trading.

In order to provide traders with the safest trading experience and tools possible smartphones included, they must be equipped with the knowledge of how to make the best decisions.

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