Forex trading has been consistently garnering the interest of seasoned investors as well as the newbies. The forex trading market has been growing steadily and the recent turn in global markets has made forex trading a hot topic of discussion among investors. In fact, there has been an upsurge in forex trading in the wake of the ‘working from home’ phenomenon. As the number of forex traders rises, new trading platforms emerge making it a competitive market for trading houses. It ultimately boils down to offering the best to the customers to stay ahead in the game.
The truth is that current forex investors are at different stages of the learning curve- some are just starting out while some are expert traders who have tried several trading platforms before settling for the current one. In times of uncertainty, attracting new customers is a different ball game altogether. Investors are looking for considerable hand-holding, guidance, and security to make trading decisions in these times.
We’ve already listed out the top challenges in forex trading and how technology can help in mitigating them. But when every trading house seeks the aid of technology to attract more customers, what really sets apart the best from the rest? Let us have a look at the 5 interesting aspects that can help trading houses attract more customers.
Easily navigable platform with a shallow learning curveOne of the biggest roadblocks for conventional traders opting for forex trading is the digital barrier. Not all investors have the time or resources to spend on learning a new trading platform. And hence, having a crisp, easy to use platform that is also high-tech is a great asset. A modern, intuitive, web-based user interface is key. The easier the platform is to navigate, the more likely the customers are to use it. Trading houses need to focus heavily on creating intuitive dashboards that consolidate their entire trading information, automate alerts and offer the customers everything they need, in fewer clicks.
Adopting a mobile-first approachThe world now relies on the tech that is accessible from their palms. However intuitive and easy your web-based trading platform is, chances are, your customers are exploring it entirely on their smartphones. Hence it is critical to offer an extensive set of features from your trading platform on a mobile version. It is not only an integral offering for improved customer experience but also helps in driving faster time-sensitive transactions because of the flexibility of use.
AI-driven customer experience
Offering a remarkable customer experience with forex trading platforms is, like any other tech product, critical for customer attraction and retention. Trading platforms that make use of Artificial Intelligence for predictive analysis, improved accessibility, and real-time data processing ensure that the traders have access to the most insightful data right when they need it and without depending on latent communication from the experts. With AI, traders can practically trade on a digital platform without human assistance, offering them more convenience followed by delightful customer experience.
Live trading historyFor customers to choose your platform over your competitors, you need to establish trust. By displaying live trading history on your platform, your potential customers can understand how well your platform handles live trading. Your past trading statistics can attest to the reliability of your platform. Having your platform verified by third-party financial service reviewers also helps.
Tailor-made free content and guidanceThe forex trading market is new and evolving. What might be a useful piece of information a couple of years ago might not stand relevant today. Hence, adding the educational element to the trading platform can be a key driver to attract more customers. Having a strong repository of blog posts and information-rich infographics can attract new visitors to your platform. Informative and engaging content can further help in establishing a relationship with the novice investors who are just venturing out as well as the seasoned investors who are looking for a better alternative.
By providing the latest insights into the trading market, offering a guide for designing trading strategies in the form of interactive webinars and courses from experts can be an add-on, that makes the customers inclined to choose one platform over the rest.
Like every service provider, loyalty programs are always going to be a huge attention-grabber. Offering loyalty bonuses to regular customers and referral bonuses for bringing in new customers to the platform can help in driving the marketing of your trading platform. That apart, many traders are driven people who love competition. Give them social trading options that allow them to compete and win against others like them. Forex trading is picking up and it’s about time for trading houses to up their game if they want to attract and retain large numbers of customers. And this is possible with the right technology.