Trading industry growth is largely due to technological advances, which have led to a variety of solutions to meet traders’ requirements. To succeed as a modern trader, you must adapt to these changes and identify solutions that can optimize your workflow.
1. Artificial Intelligence
Artificial intelligence (AI) has grown at a rapid rate over the past few years. More than a quarter (25%) of businesses worldwide have integrated AI into their workflow. It’s obvious that AI will be a big player in the industry in the next few years. The reports are also very positive, with many businesses stating they have seen a significant improvement in their productivity since integrating AI.
AI is also a key factor in trading. There are solutions being developed that monitor the market, take automated decisions and handle the entire trading process, from start to end. But it’s not just about automating everything. Some solutions aim to help traders improve their workflow by providing real-time analytics that can guide them in the right directions.
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Automated trading solutions have also had a significant impact on the market. This is especially common in areas like equity trading. Experts predict that the next few years will bring a revolution in this area, as more than 65% equity traders are expected to automate various aspects of their work.
3. Web Trading
Web trading terminals, another relatively new innovation, have taken the market by storm. When traders want to perform remote work or advanced operations, they are not restricted by the system specs or quality of their internet connection. The remote nature of these technologies has also improved the security of the entire process.
MetaTrader 5 Web Terminal, a popular web-based trading interface, is a good example. It has many advantages over other web terminals, such as a simplified interface, multiplatform support that is easier to use, advanced management features, and instant access to data. MetaQuotes has actively developed it and integrated new solutions such as full web and mobile supports and additional analytical items while continuously researching the market to find potential improvements. This web terminal offers many benefits, including automated stop features and integrated analytics that can help traders.
4. Cloud Computing
Cloud computing is a result of many of the factors mentioned above, but it has its own force. Cloud computing allows traders to carry out computationally intensive tasks remotely, without having to sacrifice their own resources. Cloud computing allows traders to run large-scale, complex batch data analysis operations that will help them improve trading in the future.
Here are some examples to illustrate the current technology on the trading market. The progress that we have seen over the past few years suggests that we are only at the beginning of some of these categories. Early adopters of these solutions will reap the greatest rewards in the future, once they become standard trading practices.