How We Got Here
At Panda, we’ve been huge supporters of simplified trading for a very long time. The reason is simple, any way you try to spin it, the learning curve of CFD trading can be a little steep for beginners.
Working closely with brokers over the years has allowed us to observe this in action. Churn rates in CFD trading are high at the best of times, but when you combine these with new registrations that never even get to funding their accounts, it’s obvious that many brokers are leaving a lot of money on the table.
Our original goal when we developed our ground-breaking Simplex platform was to create a trading interface that simplifies the most confusing parts of CFD trading, without dumbing the experience down and making it overly simplistic.
In our view, simple doesn’t have to be stupid. It doesn’t have to look and feel trivial, or unimportant. We wanted to create a platform that would engage new users, easing them gently into the world of trading, while allowing them to enjoy all the exciting elements of the craft that attract new users in the first place.
For newcomers to CFD trading this would mean a much more positive first experience. For brokers it would mean improved conversion and retention rates, increased volumes, and ultimately a longer client lifecycle.
Our main issue with simplified trading platforms of the past is that they mostly looked like videogame versions of trading, or online casino games. They took the magic out of charting and left users with a trading experience that sadly fell short.
What was missing in these other approaches to simplified trading? In our opinion, they simplified too much about trading, and they did it poorly. If you survey newcomers to CFD trading you’ll observe that it’s not actually charting assets, performing analysis, or even going long/short that confuses most beginners. Beginners to CFD trading are much more confused by things like pip values, lot sizes, margin requirements and stop-loss/take-profit levels.
In other words, it’s hard for them to understand what they’re risking when they press “Buy,” or how much they stand to gain.
This is the stuff that you tend to find in a traditional trading platform’s “Order Window.” So, with Panda Simplex, we made sure that all the important simplification happens in the way we’ve re-imagined order entry (more on this below). Everything else is top class and professional grade. The platform’s charting functionality provides a rich, attractive, and customizable charting experience that even the most demanding of technical analysts would approve of.
How it Works
As you can see, it’s only really the logic of the order window that needs to change for your beginners to easily grasp what’s at stake before entering an order. Rather than concerning themselves with lot sizes and pip values, every simplex trade starts as follows:
The client chooses their investment amount, leaving the system to automatically calculate the relevant trade size and pip value for them.
Note: The client’s selected investment amount also doubles as an automatic stop-loss because they can never lose more than this sum, unlike traditional CFD trading where a trader’s entire account balance can be at stake. This also adds to the simplicity and safety for beginners first venturing out on the world’s markets.
Finally, the payout multiplier determines at what profit level the client would like the trade to be closed, which effectively works like an automatic take-profit level.
In this way, Simplex traders can easily, simply and safely enter a trade, knowing before they proceed exactly how much they stand to gain if the trade goes as predicted, as well as how much they stand to lose if the trade doesn’t work out for them.
Simplex has been proven to reduce the time it takes a new registration to initiate their first trade, helping to convert new registrations that would otherwise drop-off before making their first deposit, and extending the lifetime value of new registrations.
Now On Mobile!
The success of the initial web-based version of Panda Simplex made it imperative for us to port the platform over to mobile. This has been our single most requested feature of late. Indeed, in many ways Panda Simplex is ideally suited for mobile use.
As a conversion tool, it allows prospective clients discovering your services via mobile to see for themselves just how simple trading can be. The platform’s attractive and responsive design sells itself, and the ease with which beginners are able to get to grips with it sets it apart from other CFD trading platforms.
Having it as part of your platform offering opens up new prospective users who wouldn’t otherwise be able to trade using the existing roster of CFD trading platforms. The mobile edition also opens up new demographics who currently use mobile devices exclusively.
As part of a mobile trading strategy, brokers offering Panda Simplex for mobile stand to gain by reducing the time between when a new client registers/verifies their account and the time when they place their first trade.
Crucially, Panda Simplex reduces the number of drop-offs that brokers experience between registration and FTD. This is because it’s much easier to understand, while not sacrificing any of the bells and whistles that gives trading platforms that professional look and feel.
Simplex also helps in a trader’s education, with many users who start off their trading careers using Simplex eventually graduating to a “full version” of CFD trading that allows them to have more control over their trade composition and management.
At Panda, we decided to position Simplex as a charting platform with professional charting features, but a simpler, more gamified interface for position entry. This combination, while explicitly designed to ease newcomers into the world of trading, is also attractive to prospects who may be approaching trading more from a gaming angle. The accessibility and immediate feedback of trading on Simplex keeps a wider set of clients engaged, which ultimately leads to increased volumes for the broker.
When you add the benefits of mobile to the above formula you have a simplified trading experience that is fun, engaging, easy to access, and always within reach. It has been a game-changer for many of our clients, and we’re confident it can also be a game-changer for you
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