Last month, our team was at the iFX Expo in Dubai. The conference is the biggest financial B2B expo, hosting multiple events annually across the globe. Trading Central participated in the dialogue on the expo floor at Booth 98, connecting and meeting with industry leaders and demoing the latest enhancements to our one-stop-shop of investment research.
New Edges: Grow & Expand Your Client Base
Trading Central's EMEA Solutions Director, Dino Anastasiadis took part in a panel session alongside speakers from StoneX Financial, ZULUTRADE and Avatrade. Moderated by Finance Magnates Group, the panelists shared tips and tricks on how brokers can acquire, engage and retain their audiences.
Key topics discussed during the session include:
The market perception in 2023:
The panelists shared what they’ve seen amongst their users throughout the pandemic and heading into 2023. With high volatility, record trading volumes and an influx of new users, brokers are looking to retain these users through actionable research and content that will support trader decisions. Multiple factors have influenced these market changes including rising inflation, the Covid-19 pandemic and the Ukraine crisis but many panelists agreed in 2023 we will start to see trading volume stabilize. This means engagement and retention tactics such as education, customization and research are at the forefront of broker minds.
The rise of new innovations & technologies:
Social Investing - driven by the increase of millennials who entered the market.
Artificial intelligence & machine learning - lots of room to evolve here still. Data-driven insights that are approachable, transparent and easy to apply to investment strategies help traders act on opportunities.
Automation - could include trade automations, post-trade summaries and risk management tools.
Snackable content for Apps - brokers need bite-size, mobile-friendly research that’s simple to integrate into an app.
The challenges of growth and how to overcome them:
Localization - As you grow into a larger company, you will need to provide more localized content, for example multi-language materials. The panelists agreed this can be a large pain point. As growing, you need to look to provide global content in a localized way. For example, adapting the colors or language to fit the market.
Standardization vs Customization - As you grow and have more clients, it gets hard to control their customized experience. There needs to be a balance of standardization, allowing for an ease of use alongside customization which is the expectation amongst users.
Internal Growth- Common internal growth challenges mentioned were updating technology (ex: server space), managing a culturally diverse organization often due to acquisitions or rapid growth, and ever-changing regional compliance.