The London headquartered CFDs, spread betting and stockbroking provider, IG Group Holdings (LON:IGG), unveiled that it has designed an Apple Watch application, just hours after the announcement of the launch date of Apple’s new product. IG Group is the first major broker to announce an application designed to make use of the new gadget for the purposes of trading on the financial markets.
According to the webpage on IG’s website dedicated to the product, the app will feature three leading displays – watchlists, holdings and an economic calendar. Despite the gadget being displayed mostly as a secondary display for notifications, the functionality of the app offered by IG is not limited to that.
Traders will be able to open and close new positions, as well as editing and monitoring their open ones. The Apple Watch application provides an insight into upcoming economic events, while also delivering the convenient notifications to the user. The main advantage of the notifications from the Apple Watch is that the user can receive haptic feedback on his/her wrist, which is a more discreet feature than a loud message on a portable device.
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The release date for the new gadget from Apple is set for the 24th of April, the application support will be active for IG clients on the same day, provided that they have the latest version of the iPhone trading app of the U.K. brokerage.
As a companion device, the downside of the Apple Watch is its limitation of use only when in range of the iPhone, which will require customers willing to use IG’s new app to continue carrying their mobiles with them.
As Forex Magnates reported earlier today, the Apple Watch is likely to lead to a slew of additional applications developed by FinTech companies, aiming to deliver a better user experience to clients who are already iPhone users and will potentially purchase the Apple Watch.