There is no avoiding technology these days. It’s where you get your news from, how you keep in touch with your friends, how you keep on top of that inbox, how you check the weather and, yup, how you are reading this very article. Tech has infiltrated every corner of our everyday existence, and the financial world is absolutely no different.has totally and utterly transformed the way things are done in the money markets. It’s at the core of each competency, it’s what enables them to maintain a competitive edge and now it’s changing the way that you, me and everyone can trade.
So, without further ado, here are some of the most incredible ways technology has impacted the once elusive and exclusive world of trading.
- Opened The Floodgates
Trading never used to be accessible to the masses. It was a hidden world reserved to Wall Street Know-It-Alls and institutional players. But that has all been changed thanks to technology, which has streamlined the processes and given the right tools to everyone that has even the slightest inkling of interest in trading. So long as you have an internet connection, you can stream the latest updates and manage your portfolio.
- Freedom Has Been Granted
The big problem that faced trading yesteryear was the expense of having information slowly given to you. Essential market data was too costly to have and it was too slow for the media to both reporting on. Fast-forward to now, though, and the playing field has been leveled. Mobility, accessibility and freedom have all blossomed thanks to technology. Rather than having to trade on a platform on your desktop computer, you can be trading from your mobile phone, using charting packages available online. Information is now readily available, making traders more efficient without having to compromise their time and freedom.
- The Rise Of Little ‘Uns
If there was once a monopoly, it has now been blown apart by the emergence of smaller operators and providers that have been able to set up shop and offer a trading platform service through white labeling. This is new. This is really new. And it is because the barriers around this world used to be too high and too expensive for the smaller players. But now that tech has made replication and deployment a whole bunch simpler, there has been an emergence of smaller providers and that’s good for traders.
- Much More Competitive
Dear technology, thank you for making the entire financial world more competitive. We say this with thanks for one very clear reason: technology has forced the hand of every broker and every platform provider. It has forced them to improve their game and enhance what they offer. Like we said, the playing field has been leveled and that has meant providers have to find new ways to attract business. This means adding new features to their platforms, having charting packages as standard and improving their USPs in any way to attract and retain clients. Like we said, thank you technology.