Paragon EX Dynamic seems to hold novices in trading in mind: They have launched a trading platform dedicated to them. They made this announcement on Wednesday.
Aptly named “Newbie Trader,” ParagonEX Dynamic built the platform with a simplified toolset that allows it to be easier to understand. The entire platform is made with the newbie traders in mind. Those that have yet to find their feet in the trading world, so to speak.
ParagonEX Dynamic explained that this new solution still provides every core tool necessary to trade, and trade well. However, they have simplified the format to decrease the learning curve while still providing access to retail brokers for these “newbie” clients. They had to work hard to maintain the power of the tools and the ease of the user interface.
A ParagonEX Dynamic spokesperson explained that the company has noticed that most platforms are highly complex. While that’s a good thing if you have the experience and the knowledge to use it, it scares off people who have nothing in terms of trading experience.
ParagonEX Dynamic set out to create a new platform, one that catered to the inexperienced. They had a team do a comprehensive research about the matter. They worked hard to create an easy to understand user interface, powerful tools, and balancing those two together perfectly. For example, Users have the ability to access their trading charts or create tabs that let them view their open positions. They can even see what tabs they had recently closed as well.
Newbie Trader allows the novice group to trade in a handful of asset classes. Excluding the obvious foreign exchange, they are also entitled to trade in commodities and stocks.
Newbie Trader is only one of the numerous products ParagonEX Dynamic has decided to release these past few years. They launched a social trading solution as well as a product set dedicated to portfolio management, as well.
It’s good to see that the inexperienced class of traders is being catered to, even if it’s just to make more money. ParagonEX Chase just discovered a demand for a more accessible platform and made something to profit from it. Of course, there’s nothing wrong with this; that’s how a lot of the world is made. However, there should be no delusions about why companies do what they do: Profit.
Newbie traders will use this platform, gain the necessary skills to become good traders, then move to platforms of higher complexity. Either they will stick to DragonEX Chase due to their reliance on its stability, or they will go elsewhere if there’s no explicit advertising. The company will probably rely on “advertising” of the platform and the constant inflow of new traders to turn a profit.