How artificial intelligence is revolutionising online trading in Africa
It wasn’t that long ago that trading was conducted by suits on Wall Street, screaming out buy/sell shift stocks.
The business of trading looks very different today; most trading of serious volume is invisible to the individual trader and done over the web through algorithms and artificial intelligence.
And it’s not a phenomenon unique to the West – online trading has also gained traction on the African continent, says Finbok.com, an online trading platform making waves in South Africa!
The advent of COVID and AI has seen a huge increase in the number of people who trade online.
Since 2012, the number of users has increased significantly; according to the business consulting company Brokernotes.co, about 9.6 million people worldwide are online traders.
That's millions of average people around the world grabbing their share of a market worth trillions of US Dollars. Driving this movement is the ease of access to markets and AI technologies. ‘At Finbok we harness the power of AI to democratize trading,’ says Finbok. ‘We offer tools to the retail trader that were previously accessible only to the largest banks.’
The evolution of AI in online trading
Artificial intelligence is changing the online trading world. Predictive analysis, trend-searching algorithms, and new trading apps are helping to create a new era of automated trading.
But what does it all mean for the traditional trader (read: humans)? Is there still a future for human traders? After all, an AI can spot trends and shifts in the market accurately and at a much faster pace than a trader.
How AI is changing online trading
1. Predictive analytics and machine learning: Algorithms analyze vast amounts of historical data to predict market movements many hours or even days ahead, enabling traders to make trading decisions in light of data-driven knowledge of likely market trends.
2. Automated trading: When AI systems are responsible for the actual execution of trades, they have the advantage of speed. Opportunities that humans may never have been able to grasp will, in that regard, belong solely to the machines. Precision is driving automated trading for millions of traders.
3. Risk assessment: AI systems measure risk levels and share insights for minimizing losses before they occur. This proactive approach enables traders to take the necessary steps to manage their portfolios.
4. Sentiment analysis: AI scrolls through thousands of news articles, social media posts, and other data to assess market sentiment in real time. This lets traders adapt to changing market movements.
5. Customized trading strategies: Many traders take years to develop trading strategies. With AI, you can tailor your trading strategy to your own preferences and risk tolerance.
"AI doesn't just automate trading; it enhances it," writes Finbok. "By providing deep insights and predictive analytics, our platform enables traders to stay ahead of the curve."
The future of AI trading and South Africa
South Africans are taking to online trading in a big way but to truly make a success in the markets, you need a trusted partner such as Finbok.
Ever wonder if you'll use AI in your trading strategy? Are you ready to take AI-driven ideas and improve your trading? Finbok applies these AI-driven mechanisms to help all its customers succeed in trading.
Why trade with Finbok?
Finbok is notable not just for the novel application of AI, but also for the response from satisfied users on Hellopeter.
Here's why traders should partner with Finbok:
- Advanced AI-driven trading tools
- Comprehensive risk management systems
- Personalized trading strategies
- Exceptional customer support
Open a trading account on Finbok.com and join thousands of customers in taking their trading online.
Artificial intelligence is transforming the online trading field, presenting unprecedented opportunities and efficiencies.
With a technological edge provided by our sophisticated, AI-powered platform, Finbok puts you on the path to success. Are you ready to embrace AI and take your trading to the next level with Finbok?
Finbok says: "Because we follow these principles and use AI to guide it, Finbok remains in the vanguard of online trading, providing traders with what they need to not only survive but also prosper in a market that keeps getting more complex."