Common Types of Trading Software Tools?


Trading Software Tools: When it comes to creating a successful trading solutions business, it is important that you invest your time and resources in the right systems. In this age of technology, you will have to provide different types of software tools to your clients to facilitate trading operations. This includes solutions like trading mobile apps, data analysis tools, online financial trading platforms, and more.

So what are the different types of tools that you should have developed by your trading software development service?

Portfolio Management Tools

Watchlist refers to the list of securities that traders keep track of and they can include stocks already purchased or those intended to be purchased. This can include the following prices that influence stock prices:

  • Indices
  • Currencies
  • Securities

Such tools allow users to create several watch lists featuring customizable fields such as price, percentage move, high, low, and volume.

Automated Trading Software

Advanced online trading software enable automated trading strategies. This allows traders to carry out trades without making any manual inputs. Such tools are directly connected to your server. Providing such tools to your clients allow them to focus their time and energy on research while the system handles all the work. Automated tools help in eliminating the role of emotions from within the trading process. Automation also presents traders from deviating from strategies that have been proven for their effectiveness.

Quantitative Software Tools

The latest trading software development principles and technologies have created tools that allow your clients to combine a wide range of data sets to gain a competitive edge. Traders can use these software tools for finding relationships, patterns, and trends between various instruments with the help of the following:

  • Fundamental data
  • Price date
  • Economic indicators

Even news articles can play their role here.

Price Alert Tools

Price alerts are beneficial for traders who follow many stocks and markets. This makes such tools a must-have for you. Such programs should allow traders to set alerts whenever specific stock prices cross a certain level. Using these tools, they should be able to receive alerts via email or SMS.

Stock Scanners

These trading tools may be mostly useful for investors, but they are also beneficial for short-term traders. It helps in filtering stocks based on almost endless conditions. Traders can filter stocks based on:

  • Market capitalization
  • Price or earnings ratio
  • Earnings growth rate
  • Dividend yield

Such filters are used for evaluating thousands of stocks to conduct research. These tools can also help in filtering stocks with the help of technical data.

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Fundamental Tools

Long term investors are highly interested in tools that provide them information about company valuations. Such tools rely on fundamental data. However, this doesn’t mean that such tools aren’t of value to all the other traders. Traders can benefit when they learn about the fundamental factors that influence the investment decisions of long-term investors. Such software applications allow traders to get better insights into trends that influence investor behavior and stock prices.

Additional Tools

There are even more types of tools that can be created to make trading easier and more fruitful. Some of the common examples include idea generation, risk management, and size calculation tools. And trading software development allows you to create customized software applications that address specific requirements.

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In this age of smartphone revolution, most traders like to trade using their mobile devices. Modern trading software development solutions help in creating multifaceted tools that can be used across different devices to facilitate flawless trading. Thus, any type of trading software tools can be created to meet your clients’ and your business’ needs.