trading online

In the future, it is even conceivable that chatbots could be used as a kind of personal broker. The bots could inform traders about account balances or their own trading history. In the future, a bot could also issue a warning when the margin is almost used up. With even more networking, it is conceivable that the bot could open or close positions on its own.

With good networking, trading could be simplified for many customers. Brokers want to open up the markets to many people, but chart analysis, for example, is often a big hurdle for beginners. A well-programmed bot could therefore offer a comprehensive trading service in the future. Trading could then also be done simply via a chat app and no longer via the trading platform.

Better application possibilities with more data

The knowledge of chatbots grows the more data they have available. Thus, the service of brokers could be tailored even more precisely to the customers, which could represent a competitive advantage. Thus, even more precise personalisation would be conceivable at possibly low costs for brokers.

On the other hand, however, there are concerns about data protection. Brokers are reluctant to release data. However, the first providers are beginning to embrace the new technology. The technology could be used more often, especially in sales and customer retention.

trading with broker

Brokers with modern technology

Many brokers already work with automated trading systems and modern technology. For example, CFD trading at https://exnesscom.com/how-to-trade-cryptocurrency/ is done via MetaTrader 4, where Expert Advisors can also be used. Hardly any programming knowledge is necessary for this, as many scripts are available online. In addition, the broker regularly works on improving its technology. For example, trading via the smartwatch is also possible.

For many traders, the user-friendly MetaTrader 4 platform is ideal to start trading. This is offered by various brokers, such as Capital Holding or Online Market Share. Beginners often quickly find their way around. The platform is characterised by numerous tools and indicators. With these, traders can analyse trading instruments and markets.

Brokers offers tools for technical analysis and tools with which traders can recognise trends and patterns. On this basis, they can then determine entry and exit points or find suitable price levels for stop loss or take profit. Trades can then be closed with just one click. If traders use automated trading strategies, they have the possibility to check and optimise them with back tests via the MT4 Strategy Tester before the strategy is used in trading.

Technically well positioned

Many brokers are well positioned for the future and could also offer trading at a lower price than classic share deposit providers. Exness, for example, offers two trading accounts: Standard and Pro. Both are also available in a variant for professional traders. Both accounts allow market execution, whereby the Standard account also offers the option of direct order execution.