FX Traders Do $100 Million Deals on Mobile Phones

More investors expect to trade via an app in 2018: JPM survey
Company restrictions are still top barrier to adoption

The mirrored exterior wall of Birmingham New Street station reflects a businessman talking on a mobile phone in Birmingham, U.K., on Tuesday, Oct. 4, 2016. U.K. consumers appear to be shrugging off some initial Brexit concerns as their worst fears about the economy are allayed.Photographer: Chris Ratcliffe/Bloomberg

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By Lananh Nguyen

January 22, 2018 at 12:01 AM UTC

This article is for subscribers only.

For the modern foreign-exchange trader, it’s now possible to find a date, hail a cab and trade $100 million -- all through their mobile phone.

The world’s biggest financial market is embracing the iPhone era as investors find new ways to work when they’re not on the trading floor. In a JPMorgan Chase & Co. survey of more than 400 institutional FX, rates and commodities traders, 61 percent said they’re “extremely” or “somewhat” likely to use a mobile trading app this year, up from 31 percent in 2017.