Amid a general market decline, new technology is pushing boundaries within online trading and providing a much-needed boost
With it being more difficult than ever before for traders to make significant profits, the market for currency exchanges has had a tumultuous start to the year. Price changes are happening at much faster rates, while liquidity is stumbling as a result of banks and investors taking a lower-risk approach. This in turn has made traded currency pairs turn around even faster, which has consequently spooked market participants across the globe.
Given the current climate of the online trading space, it has become vital for brokers to both embrace and drive the latest technology as a means of maximising profit and offsetting losses. For example, this year, UFX, a global trading platform headquartered in Cyprus, launched a revolutionary new industry tool called MassInsights Technology. Also, the broker is taking a new approach to trader loyalty programmes by issuing UFX Rewards, the world’s only loyalty programme to offer cashback with every trade opened. Moreover, to promote this innovative tool, UFX has signed football icon Emmanuel Petit to join rugby legend Mike Tindall as its new brand ambassador.
“It is our most advanced version of ParagonEx yet. Accessible through any web browser and with no downloads required, ParagonEx 4.0 takes every element UFX traders loved about previous versions of Web Trader and makes them even better, with numerous exciting new features as well”, said Dennis De Jong, Managing Director at UFX. He went on to add that ParagonEx 4.0 is not an update of previous versions, but a brand new trading platform.
“When we decided to completely re-do our trading platform from scratch, we knew that we had to do something special – something that has never been seen before. This is why we decided to put a new spin on CFD trading when we created ParagonEx 4.0, so that we could provide traders with a highly intuitive and natural trading environment.”
The most significant update to the platform is the introduction of UFX’s MassInsights Technology, which brings together live market events and aggregated trader behaviour, while displaying the information in a single, easy-to-read stream that shows traders the most significant activities across markets in real-time.
By offering a single stream of asset behaviours based on trader decisions, MassInsights presents entire markets in a way that is simple and easy for anyone to understand. By observing the stream closely, the necessity for independent research decreases. Popular trades are highlighted, while identifying popular assets and trends becomes an easy skill to develop.
The MassInsights stream presents developing trends and numerous market events via seven stream elements, giving traders a comprehensive view of the market’s current activity. UFX’s MassInsights also includes an integrated calendar, which highlights daily, weekly, monthly and annual events specific to UFX customers and their interests.
The ParagonEx Web Trader 4.0 platform also includes comprehensive single-asset information, which allows traders to zoom in and focus on all relevant data, such as advanced charts, open rates, available leverage and daily ranges, in an easy-to-read breakdown of details. Traders are able to customise their trading dashboard, so that they can put the assets that they care about most at the front and centre. Traders can now organise our long list of tradable assets by ‘favourites’, ‘most popular’, ‘daily change’ and ‘volatility’.
UFX has introduced a state-of-the-art platform in ParagonEx 4.0, combining our revolutionary MassInsights Technology with some of the best trading tools on the market – this is the most exciting and important update we have ever introduced to our traders.
Updating the trading platform gave UFX the opportunity to rethink its bonus loyalty programme. “From the outset, there was a focus on improving trader engagement. We were heavily inspired by modern video games, and in particular the trophy and achievement aspect. When we integrated this particular element with the idea of a cashback programme, UFX Rewards was born”, De Jong explained.
UFX Rewards offers UFX traders a certain amount of cashback on every asset for each position opened. The first time a trader registers and places a deposit, they will be presented with their first trading target. Interestingly, the UFX Rewards cashback programme offers a number of different challenges that require traders to engage in various trading strategies in order to reach a target. Once the target has been reached, the trader can then redeem real cashback, which will be transferred directly to their account balance.
In recognition of the technological developments introduced, UFX has been awarded with the Forex Report Best Trading Platform and Best Trader Loyalty Programme awards for 2016.
“We are honoured to be recognised by Forex Report for our efforts this past year. Winning this accolade is a testament to our dedication to our traders, as well as to their trading experience and expertise. We are very excited to see what the future has in store for UFX.”
UFX was founded in 2007 and has quickly grown into a leader in the online trading industry. The company is fully licensed and regulated, and I would like to stress that we always also hold our traders’ privacy and security to the highest standard. Adding to this foundation, we have made it very easy to sign up for an account with UFX, and even easier to start trading. Whether you’re a novice trader or experienced in the industry, we have all the tools you’ll need to get started”, De Jong concluded.
For further information:
Paul Seiber, PR & Brand Manager