In a world with a wide range of emerging and developing technologies and financial services it is difficult to remain uninformed about their advantages and utility in real life. FinTech, one of the most prospective of such technological aria, is growing quickly in this sphere and is already attracting the attention of the entire financial market industry. So, what function must the design perform to make the trader’s personal performance successful? The importance of design of trading and analysis platforms, according to different Financial service experts, is considered extremely high. The vast majority of financial products are complex and might carry risks and serious responsibilities, so the design should be thought out in such a way that would consider all of them and ensure all processes perform as smoothly as possible, but also with full compliancy. If the service design is simple, clear and understandable, it will eventually satisfy any trader so it is rather critical to make the platform performance-oriented.
One of the biggest issues is a high quality interface. The best interfaces are simple, convenient and easy to navigate for users of any professional level. The better things work, the better they are for the traders, so all the tools and tabs should work correctly so as not to confuse the user and not to delay the required processes. If the interface is of good quality and easy to use, it will help the customers to understand it better, which means functions will work faster and be slicker. The right interface does not just make the whole service trade-centric, but also directly affects the mental overload. It influences very important things such as the number of successful transactions, risk-return rate etc., which leads to good performance and profitability for traders. It goes without saying that the service must also provide high security and reliability of transactions for its users. A good interface and service can be only created by specialists with experience of designing and using trading systems, otherwise they risk lacking some small but very important details, which, as a result, could cause further problems and decrease the overall quality of the end trading performance.
There was a revealing case, in 2015 large multinational broker announced that a 38-year old manager at copy center made transactions over $1 billion in one day, with only $157 thousand deposit at his broker account and finally lost everything and ran up into $270 thousand debt. The main problem was that trading terminal had misleading profit/loss indicator which didn’t show the price of borrowed funds.
Only in the case of designers being experienced specialists with up-to-date ideas in the market will they manage to consider every specific professional detail, which could potentially be of extremely high importance. It is also worth mentioning that the building and development of the right product for traders is a long and complicated process from beginning to end so it is of critical importance that the IT developers of the trading and analysis platform work with professional traders collaboratively and as closely as possible to find the best solution and create an absolutely perfect end product. Every member of the team working on the product plays a huge role in the success or failure of user experience so the team should only contain the greatest professionals and best specialists from the industry.
As can be seen from the above, during the design of a trading and analysis platform, it is worth paying strict attention to working out the ideal interface as well as attracting real traders to identify milestones in user activity.