Our client is a European Forex Consultation and Investment firm, which help people to open their trading account and invest in the forex index. Our client wants to digitally reach out to the target audience by serving forex portfolio management software with the evolving market. And to achieve the goal, they planned to develop a Forex Trading Software with the following functionalities:
The organization selected Positiwise as their outsourcing partner to build the Forex Trading Software from scratch. And we followed the agile methodology to list down requirements, create project plans, generate designs, develop software, test functionality, deploy and maintain.
While collecting the requirements of our client, we created a list of primary challenges and requirements as listed below:
The primary requirement for developing forex trading software was to provide real-time updates to all end-users. Our client describes the following needs to our team:
The forex management software will be accessible in different countries and continents, creating a time zone difference. Therefore, the software will handle the time conversions to streamline operations for a user in India to invest in the US forex market.
In addition, the user will get to know the market opening and closing time of another country’s market in its native or current time zone.
Our client wants to offer all the major transaction gateways to its customers. In addition, all the gateways must align with required standards and policies according to the country’s regulations. Below-listed is the primary modes which our client asked to integrate with the app:
Our client needs edge-to-edge security to maintain transactional, personal, and organizational data integrity and confidentiality. The main focus of security configuration was preventing breaches upon money transactions.
Moreover, our client demanded a reliable log-in mechanism, allowing only authorized users to utilize resources. Besides this, the platform must verify the authenticity of documents uploaded by users for creating a Demat account.
For assisting the customers, our client required a customer support portal. It must allow the users to raise a ticket for their issue and track it accordingly. Moreover, the user must get different categories while raising a ticket.
For instance, if a user has to raise a ticket for a failed transaction, they should get an option for it. The focus of this feature is to streamline the support process to provide fast and efficient services.
Further, our client demanded a sleek interface to review the open forex orders. In addition, they demanded to include a cancellation button, allowing users to cancel the currency buying order through a click.
Moreover, our ally demanded to configure the following conditions for order cancellation:
For streamlining the process of searching for a specific fund, our client’s requirement was to integrate a filtering mechanism with the following functionality:
The following requirement of our ally was to provide an interface for assessing the personal portfolio with the below features:
For providing all the details about risk in an investment, our client defined a need for a dedicated expert portal. Our ally employees, various Forex experts, and users can access their analysis and portfolio details from the risk management portal.
In addition, the portal will offer an in-depth insight into different exchanges, helping to determine whether it will be a good buy or not.
After reviewing all the requirements, our team forex software developer, developed an authentic solution with the following features, fulfilling all the needs.
Our .NET developers implemented the application’s real-time data streaming and analysis through Amazon Kinesis. It updates all the forex charts and indexes in real-time, completely aligning with the data updation at the forex exchange institute.
We created our custom backend logic for converting the timings. The users have to select the forex exchange of a particular region and then select their current location or any other location as per preference. And, when the user clicks on the convert button, the app will display the timings of the selected forex exchange in the current location’s time zone.
Our forex trading software developers embedded all the required payment gateways in the application. And our security engineers align it with all the essential standards for ensuring data integrity.
The App allows users to add money through Net banking, credit card, debit card, UPI, and multiple digital wallets. In addition, it allows traders to move balances directly to their bank account through a single button click.
To prevent the data from breaching, we configured hashing and salting mechanisms for the data at rest and encrypted the data in communication channels. In addition, we created a list of checks. The app will go through the list whenever a user tries to perform a forex investment operation.
Moreover, the users will have multiple login security options, such as PIN, fingerprint, and long password lock. They can enable any one or more at a time to eliminate third-person access over their account.
If the user interacts with any issue, they have to click on the support button and an interface will open to register a ticket.
While the support team analyzes the issue and provides a resolution, the support portal will provide the real-time status of the ticket. And, according to our client requirements, we set up a ZOHO ticketing tool at the backend through our custom API, enabling smooth communication with customers.
According to project requisites, we have included advanced filtering and search options. It helps the users find a particular forex exchange or display a list based on price, index, and trending exchanges.
The forex exchange software lets users view investment history and profit and loss. The portfolio interface develops various charts and graphs to provide more insightful information. In addition, it leverages users to download the data for offline use or forward it to their mail in PDF format.
The users with paid membership only have access to this portal. The forex experts analyze the market and share their reports. Also, they mention the forex index at risk, helping the paid members to efficiently invest.
After the deployment of forex portfolio management software, out ally analyzed the following results:
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