Paul Belogour is a household name for international brokers. As a successful trader, businessman, and founder of a software development company, he is the person to consult on developing a private cabinet system for a financial business. Mr. Belogour shared his thoughts on critical customer area features and development approaches best suited for newcomer and experienced brokers.
Must-Have User Area Features According to Paul Belogour
Financial businesses need to develop a unique selling proposition to beat the competition; however, many private cabinet features are industry standard. According to Paul Belogour, founder of Boston Unisoft Technologies, any client area would be incomplete without:
- Authentication procedures. Registration and login forms should be streamlined and user-friendly while ensuring personal and financial data security. Brokers should also promote cybersecurity awareness among their customers and insist on strong passwords.
- Digital onboarding. Traders should be able to upload all documents securely and provide digital signatures before they are allowed to start trading.
- Trading platform integration. The private cabinet should be a one-stop trading experience with all major platforms accessible through the dashboard.
- Payment systems integration. Customers should be able to use multiple ways to deposit the money into the account and automatically withdraw it.
- Analytical tools. Latest market news, price fluctuations, and predictions should be available on the dashboard to ensure the trader can close deals without needing extra input.
- Reporting tools. The website backend should aggregate and analyze trader’s data and generate automatic reports on demand. These may include trades, deposits, withdrawals, summary, and other records.
- IT Support and services. Online chat or other contact channels should be available for users via their private cabinets to breed trust and quickly resolve any occurring problems.
Mr. Belogour on Two Ways to Develop Client Area
If the newcomer brokers cannot afford a substantial budget, out-of-the-box website and private cabinet system are the most logical option. This approach enables businesses to launch their online presence in a few days and start attracting clients. However, as the solution is ready-made, it might not meet the broker’s every requirement and lack critical features. According to Pavel Belogour, ready-made solutions are perfect for low-budget financial startups that need to gain traction and generate a return on investment fast.
Once the broker accumulates enough money to invest in further development, they can customize the existing customer area or hire a development team to build a new system from the ground up. In this case, the business should prepare a system requirements specification and have clear, quantifiable deliverables and development schedule in mind. This will ensure the development stays on track, and the broker receives the finished product on time.
As the founder of Boston Unisoft Technologies, Mr. Belogour is an expert in private cabinet systems for financial businesses. He cautions against rapid transitions from ready-made to custom solutions, as they can be traumatic even for experienced traders, let alone newcomers. Brokers should incorporate changes without disrupting the trading experience, the shift, training, documentation, and technical support should all be included in the contract with the development team.