In a fast paced online trading environment staying up to date is one of the key factors that will determine the success of your traders and play a detrimental role in retaining the trader, thus increasing their lifetime value.
The forex market is one of the most volatile markets in the world. The heightened volatility the FX markets offer, create unlimited opportunities for traders to capture the trends and therefore maximize their chances of success.
Offering key trading tools such as news and sentiment analytics that deliver results to traders in a personalized and timely approach could be one of the factors that will set your FX brokerage apart from the competition.
It is common industry knowledge that comprehending market movements and correctly predicting the future movements of any given pair requires traders to actively engage in seeking out news on a daily basis.
New concepts that echoes amongst FX brokers across the globe are Natural Language Processing (NLP), Artificial Intelligence (AI) and Machine Learning (ML).
These are quite simple yet effective concepts which allow FX brokers to reach a larger percentage of the target audience instantly whilst delivering personalized content.
Big data adoption by FX brokers has played an important role in the way they approach and communicate with existing and potential traders, personalizing the experience to the needs of every trader.
We have also often seen that data presented in the form of graphs and charts can be misinterpreted when not accompanied by the necessary content; it could result in it not being appealing to traders.
This is where AI and NLP come in. Artificial intelligence combined with deep machine learning and natural language processing have appeared, allowing brokers to lighten the load and be able to cater to traders needs without the need for heavy manpower and manual procedures.
FX brokers are quite often overwhelmed with having to follow up with so many forms of communication and produce all material necessary on time.
Having stressed the importance of preparing and distributing market news and sentiment analytics in a personalized and timely manner, AI and NLP have revolutionized the way we communicate, simplifying the process.
Automated algorithms now crunch excess information the investors don’t need, and compose actionable yet simple insights that help them throughout their decision making process.
Trading Central Labs’ artificial intelligence model called “Felix” reads millions of news and content articles harvested from the web and social media, delivering relevant information to traders allowing them to make educated trading decisions.
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The applications of AI and NLP are endless and can be used in client communication across a wide variety of marketing channels, either for retention or lead generation.
For example, applying market sentiment or news snippets in ads could potentially increase the relevance of your campaigns and capture the attention of the audience.
With so much content published across various sources, FX traders are facing a challenge which in essence might confuse them whilst at the same time they need to ensure that the sources through which they gather information are credible.
Quite often we also see conflicting information from different sources.
Additionally, the process of aggregating information manually is a time consuming process that often results in traders losing opportunities that could have proven profitable.
Tools, such as the award winning TC Market Buzz, offer traders an all in one go-to interface that modernizes an otherwise old approach.
The Market Buzz tool serves traders with the latest actionable and accurate insights allowing them to ride the latest trends and follow the discussions.
In essence by employing news and sentiment tools, you are allowing traders to:
Having touched on aggregating content and news, when trading it is also important to understand the collective feeling on the specific instruments your traders are about to trade.
Investors perform analysis on a daily basis on economic indicators, price performance, fundamentals and technicals, but understanding the crowd sentiment is what will tie all the elements together and enhance their chances of success.
The TC Crowd Insight tool, through the use of NLP (natural language processing) has revolutionized the approach and modernized the news experience by harvesting credible content sources and thousands of blogs, social media channels and news in an effort to determine how the crowd feels about the particular instrument.
In an ever changing market, such as the financial industry, providing your investors with the subjectivity and the confidence to analyze the markets, enabling them to make educated trading decisions can define their success and ultimately their lifetime value.
Today’s technology offers FX brokers the ability to communicate instantly with their target audience giving them the opportunity to get the latest news and analysis at the touch of a button.
Invest in technology and enhance your traders ROI and lifetime value by building trust.
As a premium, one stop shop for investment decision support, we firmly believe the best way to support your brokerage business is by facilitating the long-lasting success of your investing customers.
We help them find and validate new opportunities, time their trades, learn about financial markets, and manage their risk.
Our online broker solutions harness an award-winning fusion of automated AI analytics, beautiful user interfaces, APIs and embeddable apps, and senior analyst expertise. Learn more here.