Digital transformation creates opportunities for a wide audience across many industries.
Trading is no exception. Digital trading platforms remove entry barriers. Everyone can exchange valuables at any time, anywhere, and even complete novices.
Users can trade physical or digital assets, including NFTs and cryptocurrencies, in a way that is the most comfortable for them.
Trading software must keep up with changing user needs and emerging challenges. The following trends will determine custom trading software development and the evolution of existing trading platforms in 2023:
- Chart customization
Trading platform owners will aim at expanding and improving chart functionality.
Charts are the main source of advanced analytics. They make market-relevant decisions possible.
Users need functionality to align charts with their trading strategies. They add overlays, set axes and indicators, and save the results to their library. Hotkeys and specific commands enable fast switching between single parameters of a chart.
Great trading platforms use big data to recognize trading patterns and provide new traders with chart templates.
AI algorithms will become more mature. They help recognize trends and provide recommendations right from charts.
- Mobile-first approach
Perfect look and feel, even on small screens, helps users catch ideal timing. Users can track an asset performance or take immediate action as soon as they receive a notification.
App size is essential. Users will opt for a smaller one between two apps with similar functionality. It also makes sense to keep the consumption of resources at a minimum. Modern smartphones provide much capacity. Still, excessive use of space or complex processing degrades performance.
Lightweight and straightforward mobile experiences will dominate.
- Trade bot automation
High-frequency trades will occupy the top 2023 charts of trading activities.
High-speed transactions – when a user owns an asset for a fraction of a second – allow them to earn profits. Yet, they are not possible manually. Opportunities remain unnoticed by humans. But not for software which does not get tired of scanning millions of available positions.
Expect expansion of features available for users of trade bots. Users leverage flexible automation options that streamline high-frequency strategies. Rich bot functionality enables configuring once and trading with a little effort. Users focus on high-level strategy.
- Microservices and cloud
Software performance is a critical parameter. Real-time updates and synchronization across all available locations are essential for successful trades. Users will not tolerate glitches or slowdowns.
The trading software will follow the general trend of microservices architecture and cloud infrastructure which is a perfect formula for high-load platforms.
Microservices are loosely coupled modules that are responsible for doing one operation. They are fast, lightweight, and flexible.
Cloud-based infrastructure ensures stability, scalability, and automation.
DevOps will be in high demand: DevOps engineers help set up perfect cloud infrastructure for microservices.
- Focus on security
The number of cyberattacks grew in three consecutive years. The growth will continue in 2023.
The main target is the network perimeter. Criminals strive to get control over software and access user data by breaching software networks.
Attacks become elaborate. They target such weak points as human errors, infrastructure misconfigurations, lack of proper maintenance, and use of unknown assets.
Every trading software needs constant updates of the security strategy and risk management plan. 24/7 surveillance, regular penetration testing, and security audits help to defend the perimeter.
Platform owners need to be vigilant about third-party services. Those can be hacked and become a cause of user data leaks.
Bottom line
The trading process will become more comfortable, flexible, and user-friendly in 2023.
A 2023 trading platform strategy needs:
- customization of offerings and feature expansion
- management of increasing user load
- defense against diverse cyber threats
It is worth implementing the functionality that end users will use for research, analysis, and elaboration of strategies.
Trading platforms must be available from any device.
Owners of trading platforms must prepare for intense trading sessions, ensuring all users enjoy instant, real-time updates on their activities.
Security concerns remain. Trading platforms must be ready to withstand complex cyberattacks.
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