Developing a proprietary trading platform can be an expensive and exhausting investment. However, we are seeing that brokers who choose this path are reaping the rewards. As the industry matures, so do the technological service providers. As a result, we see an upward trend in brokers building their own platforms or starting the process of doing so, thus providing their clients with a tailor-made environment that can better deliver to their traders’ needs.
By no means are we condemning the use of Metatrader, we are just simply stating that it has been created for mass use which is why it is the most widely used platform out there. Metaquotes does however limit any kind of platform integration, specifically in its mobile and web versions, so the addition of 3rd party tools is limited. This is not ideal because businesses today lean towards all things customized, including the brokers offering, the customer experience and every communication touchpoint a client encounters with the broker along the way.
Some of the key features a broker can offer through a proprietary platform include deposits and withdrawals, calculators, analysis and marketing notifications. In an industry saturated with brokers offering such a similar product, they can use a proprietary platform to differentiate their business, giving them a unique edge on their value proposition. The learning curve for traders using alternative broker platforms can be high, however with a solid support team in place this can offer the added benefit of broker-stickiness, reducing the ratio of traders switching brokers so easily. This is especially true if the user interface and experience is far superior.
Back in 2018, Saxo was one of the first top-tier brokers to completely stop offering MT4. SaxoTraderGo differentiated, making research-based trading opportunities front-and-centre in their primary platform. They integrated Autochartist’s trade setups into the platforms watchlist, notifying traders of opportunities based on the individual’s historical trading activity, relieving the trader of the necessity to look up alternative research platforms.
Some other big names in the industry such as IG and XCritical modified the trading experience with personalised content both visually and by easing functionality with in-platform click-to-trade graphs, drastically reducing the analysis-to-execution cycle and driving volumes which resulted in increased trading activity for the brokerage.
The custom integration of Autochartist’s broad array of market analysis has proven to be an invaluable addition to these custom platforms primarily because of Autochartist’s ability to target specific types of content for different styles and levels of trading – offering a truly personalized experience for every trader.
Autochartist trade setups integration has made chart interpretation more attainable than ever and by brokers applying functionality within the platform such as stop-loss and take-profit levels to enhance the trading experience, it’s making it easier than ever to trade, thus extending the client lifecycle.
To learn more about proprietary platforms and how to best integrate market analysis to increase revenues, contact [email protected].