Man holding mouse and iPhone while using Macbook Pro Technology– the increasing use of mobile phones, faster internet speed, and the rising popularity of crypto among the general populace in Asia have been the major drivers for the increase in online traders and brokerages in the region.
The high percentage of young and educated people in the region, particularly in countries like the Philippines and Indonesia, has also fueled this demand for sophisticated online services from brokerages. It has become important for brokerages that want to be a popular choice to integrate tools that are preferred by this new demography of traders. Let’s take a look at tools and features offered by brokerages that the trading community in Asia will find appealing.
Apart from the variety of other tools that are very useful for modern brokerages. You should also explore how TickTrader Algo-Studio can benefit your brokerage especially in these times. Now, let’s dive in
Mobile Application
Recent research has shown that the use of mobile devices in Asia is almost twice the use of desktops. In Asia, mobile phones are the most common or first computational device many people are exposed to. Therefore more new users are turning towards their mobile devices for on-the-go trading. It ensures the comfort of traders via an accessible means of trading.
However, it is important to note that the app should be preferably translated into the local language of the user. Although many people are learning the English language, it is still better to introduce an application with the interface, analysis, news, and educational resources in a language they understand well.
It is also important to note that there are a few areas in Asia that are not covered by the super fast 5G internet. The ideal mobile trading application should be built to handle the possibility of poor internet connection and should not be too dependent on constant downloading. Many brokers are partnering with tech companies to be part of a super app (single apps offering a variety of services from banking to food, and trading).
Blockchain and Cryptocurrency
Blockchain and cryptocurrency are being widely used all over Europe and America even by big financial institutions. Some countries like Malta and Switzerland are even considering integrating cryptocurrencies like Bitcoin and Ethereum into their money system.
Asian countries like India, Singapore, Vietnam, and the Philippines are warming up to the idea of cryptocurrencies, making it an emerging market for brokerages. Cryptocurrencies have become a new asset class for trading for individuals who did not buy into Forex and CFD trading.
Artificial Intelligence and Algorithmic Trading
Algorithmic Trading is the use of Artificial Intelligence (AI) to execute trades. It employs computer programs that can quickly process huge volumes of data and make trades faster than the average person. The speed of this algorithm in executing trades allows it to take advantage of even the smallest change in prices within seconds.
The AI can also be used to predict market trends, conduct sentiment analysis, analyze data, and backrest strategies, compare different assets, and other similar tasks. The use of AI in executing trades has already been adopted by the US and Europe. However, it is not as popular in Asia due to regulatory issues and the familiarity of the populace with the AI tool.
Countries like Singapore, Malaysia, and Indonesia are already using AI and algorithms to make better trading decisions.
Cloud Technology and Big Data
Cloud technology is used to store huge volumes of data on the cloud system. The data stored on the cloud is updated automatically as new data arises. Cloud-based storage solutions provide infrastructure to handle increasing volumes of transactions. Big data analytics involves the analysis of huge volumes of data. Cloud storage and big data analytics will enable brokerages to collate market data in real-time, analyze them, and provide real-time market insights for their users to make precise data-driven decisions.
