Technology has been a main driving force behind the growth of the trading market. Various solutions have emerged in recent years to support the activities of traders in multiple ways. Part of being a successful trader in the modern market comes down to following these developments and picking out solutions that could potentially benefit your own workflow.
What are some of the top cutting-edge solutions for modern traders right now though? Let’s take a look at some of the leaders.
1. Artificial Intelligence
Artificial intelligence has been growing at an astounding rate in the last few years. With more than a quarter of all businesses globally integrating some form of AI technology in their workflow, it’s clear that this is going to be a major presence on the scene in the coming years. Reports are very positive across the board as well, with many companies stating that they’ve seen significant improvements in their productivity after integrating AI.
It should be no surprise that AI plays a major role in trading as well. Solutions are being developed to monitor the market, make automated decisions, and generally handle the full trading process from start to finish. It’s not all about automating the process completely though. Some solutions are meant to simply help traders streamline their workflow, providing them with real-time analysis that can point them in the right direction.
The rise of automated trading solutions has had a major impact on the trading market as well. This is a trend that’s been partially driven by advances in artificial intelligence, but it was already a prominent trend before AI arrived on the screen.
It’s especially popular in fields like equities trading. According to some experts, the next several years will be transformative in this regard, with more than 65% of equity traders expected to spend the majority of their efforts on automating various parts of their work.
3. Web Trading
Web trading terminals are another relatively recent innovation that’s been taking the field by storm. Traders are no longer bound by their system specifications or internet connection quality when they want to perform advanced operations or even work remotely. At the same time, the overall security of the process has been improved thanks to the remote nature of these solutions.
The MetaTrader 5 Web Terminal is one popular example of a web terminal interface for trading. It offers many advantages over its competitors, including a streamlined interface, simplified multiplatform support, advanced management capabilities, and immediate access to various data points. MetaQuotes, the company behind it, has been actively developing it and integrating new solutions like full web and mobile support and additional analytical objects while constantly researching the market for potential opportunities for improvement. Web terminals like this one offer many advantages like automated stop features and built-in analytics to assist traders even further.
4. Cloud Computing
The prevalence of cloud computing in this field can be seen as a natural result of some of the above points, but it’s a separate force of its own. Cloud computing has enabled traders to perform computationally intensive operations remotely without sacrificing their own resources. It also allows traders to set up large, complex batch operations for data analysis that can help them improve their trading later on.
These are some examples of the current state of technology in the trading market. We’re likely only seeing the tip of the iceberg in some of those categories, judging by the progress we’ve seen in the last few years. And those who take advantage of these solutions from early on stand to gain the most down the road once they’ve become a standard part of the trading world.