Attract: The science behind the front-end interface and information processing
We’ve seen many trends in the last few years, but the most powerful and noticeable is the pace of investments being made in FX and capital markets front-end technology. And there’s a good reason why - according to Google, it takes only 50 milliseconds for an end user to formulate their first impression of a website. This 50 milliseconds determines, in such a short amount of time, whether or not a user will stay on or abandon a website. These same milliseconds have a direct relationship to the success or failure of a site’s product offerings. If users aren’t attracted to a website, the chances they stay and learn more about product offerings is slim to none - especially when a quick Google search will generate firms who do the same thing, but have a website that does in fact attract them at first glance.In today’s technology driven world, users are looking for websites with both a higher visual complexity and a higher prototypicality. In other words, an online experience with a cleaner, more organized aesthetic. Attracting more and more users to your trading platform in the modern age then depends largely on one thing, the user experience. Firms have no choice but to prioritize and update their front-end user experience if they hope to be successful. The most advanced and forward thinking online trading platforms have already reconsidered their architecture and design to best accommodate the user experience, and have made giant strides to overhaul legacy technologies that once powered their interface and display.
Many leaders in the industry have turned to ChartIQ to focus on the user experience as a key component of the application infrastructure; spending a significant investment in the overhaul of the front-end trading terminal. These leaders know this investment will attract more and more users to their site and increase their bottom line. One thing is clear - Online traders know what they like almost immediately and adopt, or move on to other options. To achieve success then in the world of web trading, it’s imperative to build your online trading platform in accordance with the principle of attraction.
Convert: Why user experience, why now?
Clutter was the way of the past and, unfortunately, it’s bleeding into the future. If you look at the popular trading terminals that hold their roots in the ‘90s and early ‘00s, it’s not hard to see that many old-school UI conventions have been grandfathered in by the old guard. This is understandable, given that anyone who was trading in the ‘90s is very unlikely to switch to an alternative years down the line. Some companies attempt to condense the functional complexity as best they can into toolbars and drawers. However, without limiting the scope of that functionality, users will find themselves bounded on all sides by toolbars packed with ambiguous icons. Watermarks, pop-ups, advertisements, and un-asked-for additions to the chart provide another layer of noise for users to parse and clear away. It’s not enough that the chart is already busy with flashing red and green numbers, a continuously populating graph and trend lines, but now the user has to clean up a mess that the application gave them out of the box.
The importance of clarity in charting cannot be emphasized enough. Clarity means many different things in various contexts, but it is not synonymous with simplicity or minimalism. In regards to fintech data, we interpret clarity as the degree in which users can absorb relevant pieces of data amidst other data types. In order to help achieve this, it is necessary to incorporate principles of visual hierarchy, limit excessive features, and provide the user room to breathe within the interface itself, in order to contextualize and interpret data at a faster rate. We think of our HTML5 charts like interactive maps—open sandboxes or drawing canvases—which require a considerable amount of planning and clever placement of tools.
The goal of financial charting UX design is to allow users to focus on the task at hand and to avoid any distractions. If a trader or investor loses money because of poor interface design, the chances of him or her scrapping the tool for a new one is high. The new ChartIQ WebTrader interface offers traders a clear path to data. By removing unnecessary data and updating outdated tools and visuals, traders execute more quickly, with better accuracy, and have a completely personalized online trading experience. Brokers now expect a vast array of tools, chart types and studies without being distracted by unnecessary clutter. For FX brokers, alternatives to online trading interfaces have been slim to none, until now.
What’s more, traders are hungry for a new look and feel - a break from the status quo. ChartIQ has built a beautiful interface backed by a professional-grade and industry tested trading platform. Trades are made more accurately, data is easily accessible and the experience is best in class. Which leads us to our next point. Retention.
Retain: Keep customers with a differentiated and easy-to-use interface
Front-end differentiation is every online platform’s new competitive edge. Most platforms available simply mimic one another, offering both brokerages and online traders alike, nothing but more of the same. User interface and experience in the world of financial trading is (finally) an easy way to stand out from your competition. With ChartIQ’s new WebTrader UI - you’ll see an online web trading interface that allows users to fully customize and personalize their online trading experience. The new UI offers a modern layout with updated and advanced tools and over a 100 technical indicators that promises to keep traders engaged. With all the bells and whistles of a professional trading terminal, few online traders turn away.
Enjoyed this blog post? We recommend you check out Top 6 MT4 WebTrader Platform Capabilities Every Brokers Should Consider.