In June 2023, international broker OctaFX conducted a survey among Malaysian traders about the devices, applications, and helpful gadgets they use. Do they have a unique approach towards them? What are their favourites? Find out below.
Exploring the favourite devices and apps of Malaysian traders
When it comes to the devices and apps traders use most often, there are quite a few fascinating facts.
Unsurprisingly, the vast majority of traders (92%) rely on their smartphones for trading purposes. The convenience and portability offered by smartphones make them an ideal choice for staying connected to the markets. Laptops are used by 46% of respondents, while 33% and 23% of traders use PCs and tablets, respectively. Interestingly, these devices were more commonly used by experienced traders, highlighting the need for larger screens and enhanced functionality.
The most frequently used mobile apps are trading tools, with MetaTrader and the OctaFX Trading App used by 49% of respondents. Online banking apps, messenger apps, and social media are also very popular among traders.
Samsung emerged as the top choice among smartphones used for trading, with nearly 20% of traders preferring it over other brands. The remaining spots in the top five were secured by iPhone, Vivo, Oppo, and Huawei.
Among traders who use tablets, Apple stood out as the preferred brand, with 43% of tablet traders opting for Apple devices. Samsung and Huawei secured the second and third positions, respectively.
As for laptops, HP claimed the top spot as the preferred brand among traders, with 30% of laptop traders selecting the brand’s laptops. Following closely behind were Asus and Dell, which also showed significant usage among traders.
Interestingly, a considerable number of traders who participated in the survey revealed that they had custom-built PCs. This highlights the need of some traders for a device that would meet their specific requirements and trading needs.
The survey also shed light on the frequency of trading activities among the respondents. More than 60% of traders reported using their devices for trading several times a day. A further 11% use their devices for this purpose once a day.
When it comes to correlations between the experience of a trader and their preferred device, OctaFX found out the following: while nearly all respondents—regardless of their experience—use their phones for trading, those with more experience tend to choose tablets, laptops, and PCs as their additional devices. This might be attributed to the bigger screens and superior processing power.
The survey results highlight the significant reliance on various devices by traders in their daily trading activities. As technology continues to advance, it is evident that traders are quick to embrace new devices and tools that enhance their trading experience and help them make informed decisions in the fast-paced Forex market.
Traders’ gadgets beyond trading: entertainment and household choices
When traders are not focused on their trading activities, they embrace a wide range of devices that cater to their entertainment, household, and lifestyle needs.
Among the most frequently used helpful and entertainment gadgets, wireless headphones (43%), portable speakers (38%), and smartwatches (34%) made it to the top of the list.
Almost 15% of traders revealed that they own a gaming console. The majority of them (65%) prefer PlayStation. Nintendo’s consoles are favoured by 18% of respondents, while 6% of traders use Xbox. It is worth noting that 12% of the surveyed gamers possess two or three game consoles at once.
Traders also incorporate a variety of household appliances and gadgets into their everyday lives. Among the most popular household gadgets are an air purifier (43%), a multicooker (30%), wireless or robot vacuum cleaners (27% and 15% respectively), and a coffee machine (21%).
In terms of home security and surveillance, over 20% of traders have installed surveillance cameras to enhance the safety of their homes. Furthermore, approximately 10% of respondents have implemented a comprehensive home security system, which may indicate the special attention of traders towards risk management not only in trading, but in their everyday lives.
Conclusion
When reflecting on the devices that have changed their lives completely, 50% of traders pointed at smartphones. Laptops and TVs followed with 9% and 7% respectively. Interestingly, 7% of respondents reported that no device had such a great influence on their lives.
While 41% of traders expressed satisfaction with all of their gadget purchases, a small percentage acknowledged some regrets. Tablets, smartwatches, and TVs emerged as the most frequently mentioned devices that some traders regretted buying.
While professional traders may give special attention to upgrading or even self-assembling their devices to suit their needs, it is hard to identify any patterns that would distinguish them from other groups. The universal advice is to choose your devices wisely and use them for good (and for profit).
This story is brought to you by OctaFX.
