Major Trends in Trading Platform Development for Brokerages to look forward in 2021

The year 2020 can be considered as probably one of the not so great years for the trading community and the general populace. However, with the world getting back to its feet and looking forward to the new normal, 2021 gives us a lot of hopes. Many experts believe that 2021 can be one of the best years in the market for trading brokerages and be the perfect redemption for the past year as people and businesses will be looking forward to gaining back everything they lost in 2020.

When the market flourishes, traders and brokers flourish, and when traders and brokers flourish, it is the service provider who helps them do their investments take the cake. One of the service providers who have been a pillar of support for the trading community is the software developers who have been burning the midnight oil to provide them with innovative ways to facilitate trade. This blog will talk about five major trends that are essential in trading platforms.

Big Data Research and Analytical Tools:

With the aid of well-done research and analysis of the market, traders can get to reap the maximum benefit of it. Every trader will have their own set of goals and targets, identifying trends and opportunities courtesy of research and analytical tools will play a huge role in achieving them.

Big data technology is one of the rapidly emerging trends in recent times and this technology can be incorporated into trading as well. This technology will analyse data from a varied set of platforms such as social media feeds, market performance, news and provide an accurate prediction about the upcoming trends. The traders can make the best use of these predictions to take a call about their investments.

Low- Latency:

Time is one of the most crucial factors in trading as even the slightest of delay can cause major loss to the traders. The techies who develop Forex trading platforms should ensure that their product is fast and efficient. Trading software with low-latency will help traders to trade efficiently.

Trading involves a huge network of traders, brokers and other parties involved, a delay in any end will kick up a huge storm can result in humongous loss. The developers of the platforms should ensure that the codes are optimised and the platform won’t cause any delay to the parties involved in trading. At the end of the day, in trading world time is actually money and any loss to the later will affect the former.

Customisation and Flexibility:

Not all fingers are the same, similarly, not all traders and brokers will be comfortable with certain features of the MT4/MT5 trading platforms. Empowering the users to customise the user interface as per their wish will provide a seamless user experience. Customisation of the user interface will also help certain users who don’t like to be monotonous and like to play around with the way their work tool looks.

A flexible platform will also enable both tech-savvy and not so tech-savvy users to change the appearance of the platform as per their comfort level. Multiple chart view support, data visualisation, custom layout selection, multi-monitor support and browser neutrality are some of the features that can be provided to the users as part of customisation.

Efficient Charting Tools:

Numbers and raw data have been the best friends for traders and brokers since the inception of trade. With evolving times, even they need to get evolved into something much more advanced. Charts are nothing but interpretation of raw market data and numbers into graphical form. These charts will help the traders and brokers to understand the performance in a much-nuanced way. Understanding of the current and past market performance will help the traders and brokers to make better analysis and make better decisions.

The developers should also keep in mind that the charts developed by them should not be unidimensional and be customizable so that it can be altered as per the needs of the user. Customisable alerts and indicators, integration with other software, easy to align data are some of the features that could be part of this tool that can be incorporated into the software. Another important aspect of these charts is that they need to be compatible with any platform.

Cloud-based Technology & Mobility Tools:

There used to be a time when traders needed to be confined to a fixed spot to go about their daily business, gone are those days. With the world evolving at a rapid pace, traders cannot be at a fixed place and are always on the move. In order to help traders to do their investments on-the-go, there needs to be a separate platform. What can be a better platform than a mobile application that empowers the traders and brokers to do their work from anywhere at any time?

Similar to how the trading operations can be ported to an mt4 mobile trader platform, the data associated with them can also go the mobile way courtesy of cloud technology. Having the data concerned with trading stored on a cloud storage platform, it offers more flexibility and security. Employing cloud and mobility technologies to trading will also make the whole process faster and as we have discussed in one of the above-mentioned points, time saved is money earned in the trading world. Thus it is very important for developers to consider both these technologies while developing a trading platform for trading and brokerage.

At Sanfrix, we always make it a point to be ahead of the curve by providing our platforms with some trending features. And, we have it this time as well by incorporating all the above-mentioned tools and features in our trading platforms. Reach out to us to know more about our trading platform

Originally published at https://sanfrix.com on January 9, 2021.