Mobile trading to supersede the desktop? A look at customer engagement advancements via deep links in push and SMS

Today, FX brokerage solutions technology provider Leverate released a beta version of its new deep links within SMS and push notifications as part of an upgrade to platforms and systems. One of the greatest concerns for brokerages in the retail sector these days is the ability to convert and retain customers, along with the cost associated […]

Leverate restructure

Today, FX brokerage solutions technology provider Leverate released a beta version of its new deep links within SMS and push notifications as part of an upgrade to platforms and systems.

One of the greatest concerns for brokerages in the retail sector these days is the ability to convert and retain customers, along with the cost associated with these aspects.

Push notifications on mobile devices have been in available from Leverate for some time now and the company has now advanced this further with the implementation of deep links in SMS as well as within the push notifications, which are now being beta tested within a controlled sample of selected brokerages.

To gain further clarity on the technical functionality of deep links, FinanceFeeds today spoke to Nicc Lewis, VP Marketing at Leverate, who explained: A deep link is a link that goes beyond a link to a landing page but directs into an action like trade on EURUSD or make a deposit.”

This means you have market insight into an even on EURUSD or you want to reactivate a trader who used to trade on EURUSD, you can push a notification with a link to trade and the link will take you logged in to the application at the point to open the trade, all you need to do is fill in the amount and press buy or sell – Nicc Lewis, VP Marketing, Leverate

Mr. Lewis further explained “The same is true for deposit – you make the trader a deposit offer and the link goes directly to the deposit form – no extra navigation or clicks from the home page.”

It is fair to say that gone are the days where mobile platform was a unique offering. Nowadays, not only are mobile platforms de rigeur but the entire dynamic among retail trading technology is moving toward mobile-first which means that the desktop platform may be overshadowed by mobile.

Last month, FinanceFeeds interviewed Alon Shmueli, Mobile Team Leader at Leverate who explained “One of the features that we are working hard to implement is the push notification mechanism which is a critical tool when you want to engage the clients.”

“One of the challenges in the implementation of this is within the Asian market, especially China which is very closed. It is very difficult to operate there with Google platforms. In terms of upoading applications to appstores, you have to use the Baidu local system, and even when wanting to use push notifications for Google we have to find different ways to do it to localize it” – Alon Shmueli, Leverate.

With regard to functionality, the new SMS and push notification system provides brokers with the ability to send traders messages that encourage them to deposit and/or trade a certain pair and direct them straight to the deposit and/or buy/sell screen within the application.

If beta testing is successful, Leverate expects to make it available to all its brokers by the next release. The second feature that will be made available on mobile is the ability for traders to join the social trading community from their smartphones.

Today, FinanceFeeds spoke to Leverate’s development team in order to take a close look at the rationale behind the new developments.

What results from the Beta testing is Leverate expecting, and how will these be analyzed within the sample brokerages for a wider rollout?

The results will be measured mainly on the technical level to determine a)how the feature works and b)how traders interact with the feature. We already know that the implementation of deep links in mobile communication is a growing trend and we are merely testing it for user experience.

The ability to engage with social trading networks via smartphones is a further step in the direction of complete mobile functionality? Do you foresee a point at which many retail firms will become mobile-led, and the desktop will begin to take a back seat?

We are already seeing this in Asia, especially China, where 90% of Chinese surfing the web do it through a mobile phone according to a recent report published by the China Internet Network Information Center.

Globally, we are already seeing over 60% of mobile users accessing financial apps for investment tasks ranging from technical research, reading analysts reports and trading.

These are tasks that are much more sophisticated than those that traders were doing a mere 3 years ago, when they used their mobile apps to check the status of their positions or exit a position quickly if the market took a downturn, but rarely to open up a trade.

Whether web platforms are doomed to disappear, it may be some time before we can make that assumption. What we can assume though is that mobile will become the preferred platform.

Talk us through the functionality that allows traders to set stop loss levels for all automatic trades and how this will stand brokers in good stead to comply with ever-increasing regulatory stringency?

As you know, social trading is being heavily regulated to avoid exposing traders to high risk due to their decision to copy a certain master. We are working closely with CySec in order to make SIRIXSocial fully compliant.

This new ability to set SL levels is implemented as part of the initial questionnaire that traders will answer when they join the social trading community. According to their answers related to their risk love/aversion level, trading preferences, financial strength and stability, etc, a recommended SL level will be set according to regulatory guidelines.

Photograph copyright FinanceFeeds

Read this next

Fintech, Uncategorized

BitMEX integrates HALO from Solidus Labs for cross-market surveillance

““The recent approval of the Spot Bitcoin ETF has piqued the market’s interest. As a result of price volatility, the trading volumes for crypto derivatives have gone up substantially. HALO, with its advanced technology and crypto-native detection architecture, will enable BitMEX to smoothly and safely scale trade surveillance across its increased trading volumes and provide the necessary safeguards for new product launches.”

Industry News

Horizon Software rebrands to Horizon Trading Solutions

“Horizon Trading Solutions has seen accelerated global growth over the past year to meet the rising demand for our trading solutions and built-for-purpose technology offering. The choice to rebrand represents a key part of this development, while maintaining our heritage and history in the industry.”

Market News

USDJPY has surged to levels last witnessed in 2022. Should we consider opening a short position?

The recent resurgence of the US dollar has propelled USD/JPY to new heights, touching levels not seen since 2022. This surge comes against the backdrop of stable short-term yields and ongoing economic data that fails to signal a significant slowdown, prompting questions about the extent of current monetary easing measures.

Digital Assets

DED Trends on Twitter After Memecoin Snapshot Announcement

Polkadot-backed community coin #DED, made it to the trending charts on X, demonstrating community’s engagement and interest behind the memecoin. 

Digital Assets

BlockDAG Presale Nears $10 Million Amid Toncoin’s Momentum, Green Bitcoin’s Presale, and the Rise of Other Top Cryptos

This article will examine three top trending topics: Toncoin’s potential, Green Bitcoin’s innovative presale, and BlockDAG’s sustainable mining approach. These cryptocurrencies take centre stage for their uniqueness and innovation.

Digital Assets

Coinbase scores minor victory vs SEC, but lawsuit to proceed

A federal judge in Manhattan, U.S. District Judge Katherine Polk Failla, ruled on Wednesday that the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Coinbase can largely proceed.

Web3

COTI Teams Up with Civic for Enhanced Digital Identity Control

СOTI and Civic are teaming up to enhance digital identity security in Web3, aiming to provide users with more control over their digital selves through innovative technology.

Digital Assets

BlockDAG Takes on Chainlink (LINK) Crypto, and RON With DeFi Card and 5000x Profit Potential

Explore BlockDAG’s innovative DeFi card, which transforms cryptocurrency into spendable cash, alongside Chainlink (LINK) crypto and Ronin’s advancements.

Digital Assets

Court finally decides on Sam Bankman-Fried sentence, experts predict 20 years

Sam Bankman-Fried, the former CEO of the now-defunct cryptocurrency exchange FTX, is set to face sentencing on Thursday in a pivotal moment that could see the entrepreneur beginning a lengthy period in federal prison.

<