Global Forex Trading taps Clickatell for trader SMS alerts

Source: Clickatell

Global Forex Trading (GFT), a worldwide leader in online currency trading, is working with Clickatell to provide real-time SMS alerts to its network of registered traders serving ~120 countries.

Traders using GFT's forex trading platform, DealBook 360, can opt-in to receive text message alerts to be immediately informed of critical market news, analysis, commentary, changes in markets prices, deal-closure notifications, and order limit status, to help traders make informed decisions when seizing critical up-to-the-minute opportunities in this $4 trillion dollar per day market. GFT has more than 20,000 traders registered worldwide to receive SMS alerts and sends over 50,000 messages per day.

"As forex trading increasingly appeals to a greater retail sector, companies like GFT are working aggressively to provide tools and information that not only encourage a safe trading environment, but also help traders maximize their returns. Our DealBook suite of trading platforms is designed for trading online spread bets and spotting foreign exchange and contracts for differences," said Muhammad Rasoul, executive vice president and COO, GFT. "Clickatell has proven their ease of use and reliability, and our customers depend on receiving real-time critical data using Clickatell SMS to guide decisions, minimize potential risks and most of all, to profit," said Rasoul.

Forex trading is regarded as one of the world's main financial markets with a global daily average in turnover estimated at $3.98 trillion, concentrated mostly from London, New York and Japan. Euromoney's FX2009 report says foreign exchange is responsible for driving record profitability for institutions, despite the credit crunch that started 12 months ago. Another contributing factor to the exponential growth in turnover is the increase in number of individual retail traders and institutions turning to forex trading to profit. Currency trading markets operate 24 hours a day and 5.5 days a week, where most retail traders have other jobs and hectic schedules. Mobility via SMS offers the perfect solution, giving traders flexibility and necessary communications to track markets, stay informed, trade, and ultimately profit.

"In 2008, 50% more trades took place via mobile than the previous year, and the market is expected to double again by 2011," said Pieter de Villiers, Clickatell CEO. "Clickatell's expansive international network coverage and tested solutions allow traders the freedom of mobility and confidence that regardless of where they are, the critical data they need is within arm's reach. With SMS, they can make fast decisions, a critical factor in today's economic climate where traders would rather be safe than sorry."

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