How APIs Help in Platform Development
In a constantly evolving digital economy, you are bound to face new demands from your clients for innovative products and services. Traders trade at home, on the go, and on many devices using many strategies. They need versatility and fast execution, and to stand out to them you need flexibility and a wide range of appealing value adds.
Under these circumstances, Application Programming Interfaces (APIs) allow you to provide your clients with sophisticated trading tools and niche offerings quickly and with minimal development efforts. API offers all brokers and platform developers a fast and effective way to differentiate your platform and offer enhanced trading experiences to clients.
Role of APIs in Expansion of Broker Businesses
By using APIs, brokers can manage technological complexity, improve their appeal and at the same time reduce development costs. For instance, you might be interested in integrating technical analysis capabilities into your platform to increase trader engagement. However, there are significant development costs associated with this. By using a Technical Analysis API like the one offered by Autochartist you can bring on platform technical analysis to your traders almost instantly. This gives you all the engagement benefits you were looking for and frees up your developers to focus on other areas of improvement.
For developers, having access to an API like this is a quick and simple way to improve your trading platform and add a number of vital selling points in a competitive market.
How Can You Use APIs to Provide Unique Content to Clients
Technical analysis is not the only additional service you can offer through API. Traders want unique, reliable and accurate financial content that helps them leverage market opportunities and manage risk exposure. Luckily, API is incredibly diverse and, depending on your provider, can help you produce a number of unique content types.
For example, Autochartist offers both a volatility analysis and risk management API. These can be integrated to provide traders with strategy boosting information regarding their charts volatility and exposure they should take. Tools and content like this have been successfully used by others to boost demo-to-live conversion and assist in encouraging redeposits.
Here are a few other ways in which you can use API to quickly boost your service offering without the cost or development work:
- Impact of Economic Events: Provide economic event alerts and a summary of the expected impact of the event on their chosen financial asset.
- Correlating Alerts: Identify high probability trading opportunities and distribute these to high value traders. This is very effective for incentivising VIP traders and encouraging larger redeposits.
- Market Snapshot: Provide your traders with a daily snapshot of their chosen market as the day begins without ever having to hire an analyst. This encourages trading and keeps your traders active.
- Instant Translator: Some APIs like the Autochartist solution have built in multi-language capabilities. This allows you to offer your services and content in any of the 29 languages on offer, without the expense of a translator.
Platforms that continuously evolve as clients demand change, will gain an edge in this intensely competitive landscape. Autochartist’s API solution, with its business application integrations, allows brokers to maximise their opportunities and customize client experiences without the usual effort or cost. Some of the top trading platforms today have pre-built platform integrations with Autochartist. Contact us to learn more.
