Don’t be confused by the term user-experience design. It’s not about making a website look good; the whole point of UX/UI design is to create a more pleasant, simpler digital experience for those who use any website. The user interface is paramount for those who want to buy and sell securities and other assets via a computer connection. Today, brokerage platforms are slowly evolving their UI/UX designs to give traders better overall experiences concerning analyzing data, evaluating assets, placing trades, and managing their accounts.
The best way to fully understand the situation’s state is to review essential facts and trends in user experience and user interface. Some tech designers use the terms UI and UX interchangeably. Others are careful to make a distinction that an interface is more about how customers interact with a website. At the same time, the UX, or user’s overall experience, is a larger topic area that encompasses not just how users interact with a digitized page but their complete relationship with it. How are brokers upping their games to offer account holders better service and improved experiences? Here are some of the ways.
Opening Accounts
One of the newer brokerage platform design elements is related to the swift onboarding of new clients. Gone are the days when interested parties needed to fill out lengthy forms, send email messages, and wait for decisions from site owners. The new world of streamlined UI means that serious trading enthusiasts can set up their accounts from scratch in minutes. Provided they have funds ready, it’s possible to transmit money to a new account and begin buying and selling the same day.
Trade Simplicity
In an attempt to give consumers a better and more intuitive interaction while trading, top brokerage firms offer the with multiple customization and automation features. The main impetus behind including such platforms is to enhance the user experience and build long-term loyalty. The arrangement is a win-win for brokerage firms and customers when done right. Users of all experience levels can leverage the power of a tool like MT4 to set entry and exit points for positions, screen securities, and much more. It’s up to the account holder to determine how much of the process to automate and how much to do manually. During months when a person doesn’t have much free time, it’s possible to automate account management, position entry, and exit.
Simple Navigation
Compared with how trading platforms and broker sites looked just a decade ago, today’s versions are sleek, streamlined, and much simpler to navigate. There’s less clicking, hunting, and waiting for pages to fill. Images and apps are optimized for quick tasks and speedy results. For those who want to see the phenomenon firsthand, all it takes is a short visit to one of the top broker’s main pages. Navigation is so easy that viewers barely notice the page changes between typical headings like “Account Sign-Up,” “About Us,” “Securities,” and dozens of others. When it comes to unimpeded navigating, the secret is in advanced design. Everything comes together to deliver a seamless, pleasant movement from page to page and section to section.
Self-Service
Many consumers prefer the DIY (do-it-yourself) route for research, order placement, account withdrawals, and more. It’s in the best interest of merchants and buyers, in this case, brokers and traders, to have easy access to plenty of self-service functions. Whether someone is for the first time in their life or has been at it for years, self-service options are a major plus. The goal is to give clients choices about conducting their business, whether relying on assistance from a bot or human rep or opting for a DIY solution.
Full Mobility
One of the major transformations of the financial space is the concept of full mobility. Millions of working adults expect complete access to daily services as smartphones become ubiquitous. For trading enthusiasts, that means having the chance to purchase and sell securities from wherever they happen to be. Mobile devices, combined with clever platform design, have served as the primary component of the current revolution in the industry.
No-Risk Learning Options
Part of the promise of enhanced and more intuitive experiences is related to low-risk and no-risk learning. While demo accounts and practice mode trading has been around for about a decade, the new wrinkle is a better-designed platform. Modern simulation mode within the top providers’ sites is a highly sophisticated tool. It lets new and long-time their buying and selling skills in a zero-risk environment. Some spend a day or more monthly in practice mode to sharpen their skills and build confidence. Plus, when markets are moving sideways and displaying unusual volatility, using fictitious capital in a simulator can make good sense until the action picks back up.
Trust
Site design can bolster client trust in several ways. When buttons work as they should, headings are directly related to the material under them, and full legal disclosures are placed up-front for all to see, people begin their journey on a site with an attitude of trust. When website designs appear to hide relevant, legal, or other kinds of facts, even the appearance of deception can instantly turn potential customers away from the page.
Minimal Down Time
Back-end functionality is as important as front-end, consumer-facing features. One of the most essential aspects of back-end site support is related to downtime. When online financial services first came into prominence more than a decade ago, it was common for platforms to experience regular crashes and downtime. For today’s top brokerage, banking, insurance, and accounting services providers, even a few minutes of trouble can mean losing hundreds of customers. As technology and UI/UX apps and software evolve, server or site downtime is becoming a rare occurrence.