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Innovative Social Trading Platform Boosted by Data Service

A sleek multifunctional social trading platform allowing the users to trade shares, indices, commodities, and FX pairings, get instant access to the latest market information, share and track trade signals, and join global conversations related to trading.

Trading platform interface on a laptop

Project Highlights

Unique “contra copy trading” feature

Accounts in 3 currencies: USD, GBP, and EUR

Ability to trade shares, indices, commodities, and FX

Project Summary

About Client

Our client is an EU-based company founded in 2013. Its headquarters is located in the UK, but it also has other offices, specifically in Serbia and Israel. The entity isn’t solely an operator of a social trading platform, it is an authorized and regulated broker. The company’s mission is to create a user-friendly social trading environment that is packed with handy, convenient tools while providing the highest level of security.

Client Request

The concept of social trading first appeared on the global trading scene at the beginning of the 2010s and gained traction over time. Our client was one of the pioneers in this market niche, so they required an experienced custom software development provider that would create a unique digital solution for their target audience.
 
There was a need to develop a unique solution that would combine the functionality of a modern trading platform with the features of a well-known social media network. The users should have been able to trade different assets while having real-time access to social media. This way, the user can instantly react to the slightest changes in the trading landscape, track forming trends, and make quick, profitable decisions.

The Outcome

Upon the completion of the development stage, our client received a stable and intuitive social trading solution where the users operate relevant signals generated in real time. To achieve that, Light IT Global’s experts have successfully implemented multiple tasks.

Built an easy-to-use social trading platform that would equip the users with the relevant trading market information

Developed distinct social media functionality: the ability to follow other users, post, share, and like messages

Introduced multiple trading instruments (shares, indices, commodities, and FX pairings) with real-time trades opened and closed

Ensured advanced integration with Twitter to guarantee 24/7 access to various trading-related global conversations

Integrated multiple payment gateways

Established instant data processing from multiple sources to safeguard the real-time experience for traders

Allowed copy or contra copy shared signals from other traders

Location

Europe

Industry

Finance & Banking

Partnership Period

6 months

Type

PAAS

Platform

Web

Team Size

12 experts

Services

IT Consulting, Custom Software Development

Expertise

Web Development, Big Data, Data & Text Mining, Quality Assurance Services

Tech Stack

Python (Django), PostgreSQL, Twilio, Plivo, Stripe, Pusher, Celery, South, jQuery, Twitter Bootstrap

Project Details

Business Challenge

Trading is one of the niches where flexibility and adaptability to constantly changing environments are among the most important factors leading to success. And with the growth of social media influence, many trading market players have thought about the way to convert social media platforms into powerful and helpful instruments. Our client has decided to turn this idea into reality and build a social trading platform — a solution that would combine features of the trading system and social media.
 
Today social trading is a pretty popular concept, with many brokers offering their own software. But at the time our client contacted Light IT Global with a social trading platform development request, there were not many examples of such solutions on the international market, and not many IT crews had the experience to deliver such a complex project.
 
Light IT Global was trusted to create a web-based platform that would include multiple mandatory and quite complex features. It should not only analyze data in real time, providing the user with up-to-date info at all times, but it also should instantly update the social media feed and provide a cross-posting option, as well as allow the users to work with several different trading instruments.

Implementation

This complex and challenging project required a lot of customization and outside-the-box thinking to successfully bring to life all of the elements our client was willing to incorporate into the social trading platform.
 
As the trader had to have access to both market data and social media feeds which had to be updated in real-time, Light IT Global utilized asynchronous programming. This method allowed the processing of several tasks concurrently, which is essential for ensuring the overall stability of the system and providing the user with the quickest access to relevant data.
 
To keep the social media-related functionality handy for traders, we focused on forming themed feeds that would display emerging trends, breaking news, and the experts’ analysis. A custom Gevent-based API safeguarded the system’s ability to perform all the needed concurrency and network-related tasks.
 
The introduction of the FIX protocol simplified the platform’s communication with different financial data sources. And upon the integration of Yahoo Finance, the users got access to a wide range of in-depth analysis and investment tools.
 
The trading part of the system was customized by Light IT Global as well. Examples are liquidity pools and hedging solutions implementation.

Solution Delivered

Once Light IT Global has finished the work on the project, the customer has received a fully-functional web-based agile social trading platform.
 
The software provides the trader with all the required information related to trading, investment, and finances and does so in real time. The most important news and trends are delivered to the user via a Twitter feed. At the same time, the trader can not only review the signals that are being shared with them but also share their own opinions using the crossposting feature. The functionality typical for a social media platform, such as likes and comments, is also available.
 
The feed allows the users to see not only the posts or links shared by others but also view their trades and either copy them or contra copy. Contra copy trading is a unique technique created by our client that allows the trader to do the opposite of what a chosen user is doing and counter their trades.
 
The variety of accessible trading instruments includes shares, indices, commodities, and FX pairings with real-time trades opened and closed. The users can review the trading charts and the price change, mark their favorite pairs, and observe all of the changes in real time.
Trading platform interface

Business Outcome

Once the project was successfully implemented, it caught the audience’s interest with an elegant, user-friendly interface, a wide range of trading instruments, and a “contra copy trading,” feature, as most of the social trading platforms only allow for standard copy trading.
 
This innovation, paired with the platform’s user-friendliness and multifunctionality, helped our client get the required recognition from the media and attract the audience. As this social trading solution was one of the first on the international market, both professional traders and beginners were excited to try it out.
 
The monetization strategy chosen by our client allowed getting the most out of that advantage. The platform was completely free to try out, the only charges that were introduced included overnight/rollover fees.

Location

Europe

Industry

Finance & Banking

Partnership Period

6 months

Type

PAAS

Platform

Web

Team Size

12 experts

Services

IT Consulting, Custom Software Development

Expertise

Web Development, Big Data, Data & Text Mining, Quality Assurance Services

Tech Stack

Python (Django), PostgreSQL, Twilio, Plivo, Stripe, Pusher, Celery, South, jQuery, Twitter Bootstrap

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