Online brokers genuinely care about user-friendliness – here’s why
Given that the trading world has expanded immensely in the past decade as a result of evolving technology, it stands to reason that online broker services are becoming more simplified. While there is still the appeal of heading to the trading floor, brokers and robo-advisors are making it easier than ever for everyday people to start building portfolios.
However, that doesn’t mean brokers have to provide a user-friendly service, per se. Ultimately, running a brokerage is a complex process, handling copious amounts of data. Certainly, at the start of the online trading boom, a user-friendly interface wasn’t always the end goal.
That being said, there is now an abundance of choice in approachable, appealing broker services. If new traders need help making the right choice, all they have to do is look up an Omplix broker review, for example, to get the full lowdown.
Why is user-friendliness such a big issue for online brokers?
Trading brokerages have evolved along with convenient technology over the years. Ultimately, as much as many people flock to brokers for their insight and their expertise (as well as their incredible layers of financial data), they also head to such professionals for sheer convenience. After all, appealing to a broker takes away much of the hassle of having to build a portfolio yourself, and in addition, it is immensely helpful in making some often difficult decisions.
Therefore, it stands to reason that a user-friendly broker service is the new template. Yes – there is always going to be a high dependency on expert insight. What’s more, brokers have experience and confidence that newbie traders lack. However, if a broker service avoids making its platform user-friendly, it will cut itself out of the market.
It’s not always about the market
Of course, to some, this may be a cynical viewpoint. Naturally, brokers and trading experts will look to make profit – but there is something innately wholesome about simply providing a great service. Some brokers simply want to ensure their customers and clients get the best advice in the swiftest manner possible.
That doesn’t always mean dumbing down. Different online brokers have different ways of pitching to portfolio owners. What’s more, they may also occupy different niches. For example, one such broker may pivot towards working millennials. Others may pitch to retirees who are looking to transfer their physical portfolio into digital stock for the first time. Of course, there are also those who will pitch to experienced traders and portfolio builders too.
However, all of these people have one thing in common – they are looking for great value, and they are looking for convenience. That’s all tied into a service that they can access at any time, with advice on tap.
Convenience is key
Convenience is the key word here, and it’s something that applies to all online and app-based services. People use online brokers and apps for the simple fact that they want the best deals through expert guidance – and without any major hoops to leap through.
For the average online broker, that means presenting a service and platform that’s clean, appealing, and tailored to user needs. The fact that broker apps and services online are more popular than ever before means that the competition is fierce. There are always going to be some online services that are a little more in-depth than others, however, the way to stay in the race right now is to continue providing a clear, concise, and user-appealing interface – at the very least.
Convenience, as mentioned, doesn’t mean that a broker service has to dumb itself down. Some of the best online brokers out there wrap up their knowledge in easy-to-consume graphs, daily feeds and more. Only the most successful brokers know how to convert larger, sprawling data into easily manageable formats.
Surely all online brokers care about their customers?
Yes – given the fact that regulation, for one thing, is so widespread, it stands to reason that online brokers largely focus on customer friendliness in the here and now. However, it’s worth noting that many brokers simply want other people to succeed – it’s not so hard to imagine.
Therefore, it will be unsurprising to see a further surge of the ‘convenient’ online broker in the years to come. Trading is continuing to spike amongst everyday smartphone users, and to capitalise on this shift, brokers need to keep their users – and convenience – at the heart of all that they do.