Online trading platforms have become powerful tools for brokers and traders in the current dynamic marketplace. But it’s not that easy to build an ideal online trading platform. This task can be made a bit easier by following the latest trends in online trading platform development. Let’s explore the top five of these trends:
1. Advanced Charting Tools
It’s extremely important to incorporate customizable charting tools in the trading software that provide the users with highly interactive and intuitive charting features. The raw data can be represented in the form of appealing charts and graphs that can make users aware of their account information.
In addition, these charts and graphs also provide the users with real-time market analysis. E-trading software must have high-resolution graphics that can be easily processed and delivered on multiple devices and platforms.
2. User Customization
Today, investors and traders want to have a flexible and personalized trading software which is tailored specifically to suit their unique needs. This makes it essential for the custom software developers to make the trading solution customer-centric with exclusive customizable features.
But don’t try to make this customization complex for the users. They should be able to get what they want with minimum clicks. You can include customizable functionalities such as drag and drop workspaces, customized menus, tailor-made layouts, etc. to your trading software so that to make it capable to cater to every individual user.
3. High Speed & Fast Transactions
One of the most important features that should be there in your trading software is speed. It should be extremely fast in terms of order routing and execution. Low-latency trading solutions prevent investors and traders from losing their precious time and money.
High-latency has a negative impact on feeds, presentation, and order execution. Some of the most common reasons behind latency are market, or exchange servers; internet connectivity, client hardware or software, and brokerage servers.
It is the responsibility of the programmers to make sure that the trading software is free from any kind of latency issues and is not the cause of any undue delays in completing the transactions of the traders.
4. Cloud-Based & Mobile Functionality
Investors and traders today do their stuff on the go. They don’t sit in one place and do all their transactions. This makes it mandatory for the trading software to be extremely fast and mobile-friendly. The trading solutions should be completely optimized for mobile devices so that they can function smoothly without any glitches.
The developers should keep in mind that while switching from desktops to mobiles, there is no need for traders to create a new set of rules. Therefore, it’s not only important to adjust the layout to accommodate the particular mobile device, but an equal effort is required to make relevant customization settings. Cloud-based technology is best for facilitating mobile functionality, where there is no need for downloading specific software for apps.
5. Research Tools That Use Big Data
Investors and traders need excellent research tools that can help them in identifying trends and spotting opportunities that are suitable to fulfil their investment objectives and make better trading decisions.
This makes it essential for the developers to implement comprehensive research tools in trading software solutions. These tools should be intuitive, user-friendly, and powerful so that the users can make money in the market without paying any commission to the brokers.
In such a scenario, where research tools are extremely significant, big data has provided the traders with the capability to predict market precisely. Irrespective of the traders’ preferred domain such as mutual funds, stocks, and options, big data can make them aware of the profit and loss associated.
Big data tools have the capability to gather and process a huge amount of information. Also, these tools aren’t only dependent on historical analysis and conventional market factors in order to predict market trends. But they have the potential to access and analyze different news stories, social media feeds, and weather conditions to provide accurate predictions.
It has become mandatory to incorporate big data research tools in the trading software solutions so that to make them much more useful and efficient for the investors and traders.
These are some of the most significant trends that developers must keep in mind when building trading software. It is advisable to take help of a technology partner for creating a comprehensive trading software that is perfect for targeting either forex traders or the stocks, bonds, mutual funds markets, etc.
But remember that developing trading solutions isn’t a cup of tea for a newbie. It takes several years of experience and hard work for facing and fixing the challenges down the road.
Anubhuti Shrivastava is a content crafter at Arkenea, a custom software development company helping entrepreneurs and businesses build successful web and mobile apps. She is passionate about writing articles on topics related to design and the software development industry.