What a broker needs to know about creating a forex trading website. UTIP Expertise
Understanding how the forex market works and knowing the needs of traders is important when creating a forex website that attracts clients. In addition to a user-friendly and fast website, your clients want to get up-to-date information about the market and tools for analysis.
I’m Alexander Shvorak, and I have been creating websites at UTIP Technologies Ltd. for more than 5 years. I am going to tell you in detail what a broker needs to know before proceeding with the forex website development.
1. Website type
What kind of website do you need: a landing page or a multipage website? A landing page contains a limited amount of content, and it will fit brokerage companies that need to launch a forex business as soon as possible. A multipage website features numerous pages and a more complex design. This type of website is necessary for a large forex broker that positions itself as an expert in the financial markets.
The multipage website development costs two or three times as much as a landing page. However, such a website evokes more trust among traders because it contains more useful tools for trading.
2. Understanding the forex market
Before you start creating a forex website, your development team needs to have a good understanding of how the forex market works. You need this in order to design the website of a professional broker, an expert in the financial markets.
For example, if your copywriter knows which assets are popular among traders, he or she will be able to come up with the content that motivates potential clients to go invest in currencies and stocks that are in demand in the market.
Moreover, the knowledge of the forex market is needed to provide clients with quality and useful tools for trading: market analytics, training, background information on the trading platform, market forecasts, financial news, etc.
Developers with no previous experience can create a forex website by copying ideas from the websites of big forex brokers, but only professionals can make these ideas work and make the brokerage company get more leads.
3. Target audience
What kind of traders do you want to attract to the website? They could be novices, experienced traders, scalpers, day traders, crypto traders, algo traders, options traders, and others.
By determining your target audience, you will be able to develop an effective forex website that will attract customers from a specific group.
For example, novices need educational content, while experienced traders are looking for quick access to market analytics.
Besides that, understanding your target audience will allow you to increase conversion on your website and reduce advertising costs. For example, if your brokerage website is aimed at crypto traders or algo traders, the effect of targeted social media advertising will be stronger in comparison to the effect of a website dedicated to classic forex trading.
4. Forex website design
There are different styles of website design, including classic, minimalistic, flat design, card design, brutalist, skeuomorphism, materialism, and others. For a forex website, minimalist design is the most suitable. It is characterized by the absence of unnecessary elements and the emphasis on technology.
A minimalist website is easy to use, and it also adds to the feeling of trust and confidence. This is important for clients who entrust their money to a broker and need quick access to information about their trades.
5. Mobile version of the website
According to a recent Statista research, about 58.33% of the global web traffic comes from mobile devices. This means that if you don’t have a mobile version of your website, you could lose up to half of your potential customers who use mobile devices.
6. Analytics for traders
The analytics on a forex broker’s website includes such sections as financial news, expert traders’ forecasts, market overview, currency and stock quotes, price charts of financial assets, etc.
Traders need analytics to know the current state of the market, predict its dynamics and make grounded decisions regarding the purchase or sale of financial assets via the trading platform. In turn, traders who get access to quality analytics tend to have more trust in their broker and maintain a partnership for a longer period of time.
7. Website testing
For a successful launching of a forex website that can attract customers, it’s important to test all features beforehand. Testing will allow you to identify and fix problems early in the development, saving you time and money. Potential clients should not run into errors on the website, such as failing to access the company profile or not being able to download the trader’s terminal by clicking on a button. This can lead to a decrease in the number of registrations to the trading platform.
Development of a forex website is a complex and time-consuming process that requires careful planning, deep understanding of the forex market and clients’ needs from a broker. For this reason, UTIP Technologies Ltd. is ready to share its experience in developing forex projects. Contact your UTIP manager to see some of the examples of forex websites we have created.
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