Mobile trading software developer, Mobile Trading Partners (MTP), is launching a new set of products. After committing a period of over 18 months to research and development, the firm is delivering to market a brand new mobile trading suite designed to meet broker demands in the retail trading industry.
Mobile Trading Partners has signed a deal with Indonesian brokerage house Monex Investido Futures. The firm is building its mobile strategy around the product at a time when offering a differentiating product in the space is key to retain traders’ interest in the market.
In a trend that has been widely expanding in recent years, brokers are committing more and more resources to provide adequate mobile front ends as mobile platforms are found to be key to attracting and retaining clients.
MTP’s white label solution adds competition to the space, which is typically dominated by very few companies. Providing a brokerage with an opportunity to market its product is one key determinant for any prospects in the space.
MTP is deploying the new generation of its software on both Android and iOS. The company also offers a fully compatible Web Trader, Charts and Analytics, all using the same APIs.
Commenting on the launch, the CEO of Mobile Trading Partners, Paul G Smith, said: “If you look at any of the leading trading platforms, their front ends are focussed on trading, and only trading. We emphasise that trading functionality must be complete and flawless, but in 2018 that’s not enough.”
“Mobile has become the primary means for consumers and professional users to engage with businesses. Asia was first in this, and the rest of the world has followed. In many parts of Asia, people would no longer think of needing a laptop. Brokers need to wise up to this and consider that every aspect of their user’s engagement with their business must be catered for through mobile channels,” he added.
Marketing and Outreach
MTP elaborated to Finance Magnates that feedback from clients has been instrumental when developing a solution that is in tune with broker needs. As a result the product is not solely focused on trading but also on retention and branding.
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With many brokers lacking in the mobile space, since developing a tailored solution is costly, MTP adds to the options that companies have when addressing the mobile aspect of their on-boarding and marketing.
“Generally the Apps need to be comprehensive and ‘busy’, just the same as Chinese users like ‘busy’ websites which include lots of contents and pages and events, they do not like the normal foreign websites which are too simple,” a researcher shared with MTP.
“Continued feedback from Monex Investido allowed us to deliver apps that demonstrate best practise in this industry and that will serve as an example to other brokers of what can be achieved,” said Smith.
The main aspects of the new solution brought to the market by MTP are that it allows brokers to display deep branding. Integrated client on-boarding and document upload make new client sign-ups easier, and an open communications channel facilitates marketing.
MTP has worked on back-end integration with the broker’s CRM and sales systems, a fully integrated broadcast or targeted push notifications and integrated broker-led content, such as news and research, or a video channel.
Clients have access to support, deposits, withdrawals, statements, charts and analytics all compatible with most trading platforms on the market via MTP API and plugins.
In order to achieve its full functionality, a deep integration with the broker’s systems is required. This makes the new generation of apps from MTP to be tailored to brokers that are focusing on differentiation and might not be suitable for the smallest cases of a ‘broker-in-a-box’.
MTP will continue to offer its more basic mobile apps focused on trading as they can be deployed at a low cost with little or no integration.
Mobile Trading Partners (MTP) is demonstrating the new generation apps at iFXExpo in Hong Kong this week, on booth #4. Paul G Smith of MTP and Jeffrey Ng of Monex will present a workshop called “Best Practice in Mobile for Brokers” at the iFXExpo, at 12.30 on the first day of the show, Wednesday 24th January.