Still using an outdated trading platform? Beyond being clunky and difficult for your own team to use, it might end up costing you users and limiting your growth potential.
If your current setup just isn’t designed to keep up with user demand or market changes, it might be time for you to reassess what you have right now and build something better. Here, we’re sharing four reasons to consider rethinking your existing trading platform design.
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Your User Base is Growing But Engagement is Dropping
First, if your user numbers are on the up but you’re not seeing an increase in the arguably more important stats like session times or trade volumes, there’s a good chance that your platform design is slowing people down.
Platforms that perform slowly or have missing features—or, on the opposite end, a cluttered interface—are likely to end up frustrating users, resulting in a drop in activity. If you have proof of a growing user base that isn’t corresponding with increasing engagement, you probably need to redesign your platform to offer faster access and more useful tools.
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Your Support Team Is Dealing With Repeated Issues
Let’s say your trading platform is generating the same support tickets again and again. This is another clear sign that something isn’t working with your existing setup.
Speak to your support team to see what kinds of issues they’re dealing with the most often. If they’re inundated with customers asking how to place orders, where to find important trading information, or how to change certain settings, there’s a high chance that your current platform’s interface is confusing and could be reenvisioned with a better layout.
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You Can’t Keep Up With Feature Requests
Direct user feedback is one of the best ways to understand how well you’re serving your customers with your platform. If you’re getting regular feedback asking for things your platform can’t do, then you’re probably working with the wrong foundation.
Especially when you’re trying to scale, you want to be able to easily add new tools or assets to your platform without committing to a major technical project. In this case, you might need to rebuild parts of it, or even start again with a clean slate, getting a custom platform made by a reputable finance software developer like DevExperts.
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Your Platform Doesn’t Work on Mobile
Since global mobile usage is continuing to rise, mobile trading is something that your brokerage should absolutely be offering as a given.
If your platform only works on desktop, you’re cutting off a huge chunk of the market. This situation calls for a redesign that supports responsive web or connects to a trading app, so you’re offering what modern users want to see.
Knowing when your trading platform needs a redesign is easier than you might think. Start by looking at how users interact with your platform, find out what’s slowing them down, and, if the issues keep piling up, a redesign is probably going to be a smart move.
