BidFX Launches Major Upgrade for Mobile App to Meet Demand

BidFX, a provider of electronic foreign exchange (Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term) trading solutions, announced this Thursday that it has launched a major upgrade to its mobile app to meet the growing demand of hedge funds and asset managers.

In particular, the solutions provider has seen an uptick in the number of hedge fund and asset managers that need a solution to securely manage and trade their spot forex, forward, and non-deliverable forward (NDF) positions, the company said in the statement.

Via its mobile app, users will be able to access BidFX’s trading functionality, which allows clients to watch the market and manage their orders in real-time. The mobile app is currently available for iPhone users. The company plans on making the app available for Android later in the year.

Commenting on the upgrade, Jean-Philippe Male, Chief Executive Officer at BidFX, said in the statement: “The FX market is constantly evolving to keep apace with new, disruptive technologies. And from being a taboo subject as little as five years ago, mobile currency trading has come a long way as the need to trade on the go via a secure access point has evolved from a nice-to-have into a necessity."

“Whilst there are other FX trading apps on the market, nobody is currently offering mobile access that has undergone – and passed – security testing and controls of this standard. In an industry undergoing such significant change, trust is fast becoming the currency, and the importance of security cannot be understated.”

BidFX continues to expand product offering

BidFX has been expanding its product range in recent months. As Finance Magnates reported, the company partnered with Nomura, making its five forex algorithmic strategies, collectively known as the Tsuwamono Series, available on the BidFX Execution Management System (EMs) platform.

In the same month, the eFX trading solution provider also teamed up with RBC Capital Markets, which added its Algo suite to the company’s EMS platform as well.

“H2O AM, as a leading boutique asset manager, prides itself on the ability to take decisions quickly and efficiently on behalf of our clients,” added Stephane Leclerc, COO Monaco and Counterparty Relationship Manager at H2O Asset Management.

“With the BidFX Mobile App running in conjunction with their Desktop App we can now ensure enhanced coverage across the FX markets which will further enhance our clients’ Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term in the market.”