Did you know that while 48% of adults across the world invest in some form, especially stocks and cryptocurrencies, there are differences in the numbers across generations? Statistics reveal that while only 36% of Gen Z participates in the financial markets, almost half the millennials (45%) currently invest. On the other hand, 46% of Gen Z that is not yet investing has expressed an interest in investing or trading stocks in the future.
This represents a huge opportunity for brokers. Gen Zers are now in their mid-20s. They are just starting out on their money-making journey. Plus, they account for 40% of the consumers today, a number that is only going to rise going forward. But attracting this generation of investors is very different from attracting their predecessors, even millennials.
Gen Z doesn’t know a world without mobile apps. If millennials are digital natives, Gen Z could well be called tech-dependent. This presents challenges to brokers wanting to attract and retain this generation. They aren’t as excited by the novelty of tech advances as their predecessors are. Plus, they aren’t interested in products created for the masses. They want personalised experiences. Broker and fintech firms, in general, are looking to fulfill their needs by partnering with financial software providers and advanced trading platforms and apps.
By partnering with a technology provider, brokers can offer their clients customisation, convenience and transparency. They can offer differentiators, such as real-time market insights, expert guidance and enhanced user experiences, without losing the human connection that today’s young customer appreciates so much.
A statistic that cannot be ignored is that 58% of traders today say they wouldn’t hesitate to switch brokers if they find a better trading platform. Unfortunately, 47% of traders also believe that their broker offers an outdated platform. Many brokers choose to offer only the most popular platforms, in hopes that it will draw traders to them. But they fail to recognise the features that only a white label investing app can offer, such as incredibly customisable layouts, complete branding, advanced trading tools and analytics, and optimised user experiences.
To stay ahead of the curve and differentiate yourself from the competition, you need to remain abreast of the latest technology trends. User experience is of paramount importance, and it starts with aesthetics. Studies show that Gen Z sees the visual component as an indicator of good taste and potential UX. In fact, 23% of them would switch brands if they viewed the mobile app or its features as being poorly designed.
So, the UI needs to be intuitive, and the information well-organised for easy operation. Plus, Gen Z uses a diverse range of devices. This means that your platform should be compatible across devices, with the interface and features quickly adapting to the device, so that user settings are synchronised across mobile, web and desktop interfaces in real-time. On average, 57% of today’s customers will use mobile devices to access your platform, with only about 43% choosing the desktop.
The software should make life easy for you, while offering stand-out experiences to your customers. So, check for features such as account management, charting capabilities and other trading tools that ease real-time decision-making. Does the platform allow traders to effortlessly keep track of the latest market developments, analyse them and make informed investment decisions?
The platform should also ease operations for your business, while providing flexible branding options. You should be able to choose the colour scheme, logos and overall look and feel in line with your brand. This means you get to offer a custom loading screen and custom app logo.
From an economic calendar that keeps your customers updated on crucial macro-economic events to advanced charts that turn complex data into actionable insights, trading experiences will be defined by the tools you offer. So, check whether you can provide free market and trend analysis, insights and financial news to support your clients in decision making. This will set you apart as a broker who cares about their success.
Similarly, a tool that informs traders of the biggest gainers and losers among the trading instruments you offer can be invaluable. We’ve been seeing the huge impact of investor sentiment on the financial markets, especially over the past two years. So, choose a white label investing app that displays live market sentiment for both long and short positions.
Enhance trader experiences by allowing clients to create personalised watchlists for their chosen assets. Offer push notification to inform traders regarding the status of their pending orders, stop loss and take profit orders, margin levels and more. You could also include valuable trading information, such as corporate actions that are likely to move stock prices, including dividend announcements and rights issues.
Power your brokerage by partnering with a trading platform provider that ensures the smoothest front- and back-end functions. The stability, reliability and speed of the platform across devices ensure satisfying user experiences. XOH TRADER is a high-end platform that arms brokers with the latest technology and features to deliver memorable customer experiences. Learn more about choosing the best white label investing app for your business.