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With the growing popularity of forex exchange trading in Indonesia, driven by the increasing interest in financial knowledge and investments, there is a rising need for investment opportunities during the COVID-19 pandemic. The trading landscape undergoes a transformation, and there has been a notable shift towards mobile app trading. This provides traders with more convenience and accessibility. Data-Driven Lab recognizes the chance to develop their own trading app to better support their traders. To achieve this, Data-Driven Lab sought our expertise in understanding Indonesian traders’ behavior, enabling the creation of an intuitive trading application.
The objective of this research is to understand Indonesian traders behavior and preferences to build an intuitive trading app for Indonesian traders. By doing this research, we want to discover the best practices for trading experience in mobile applications. This will help Data-Driven Lab for their development.
For this research, our criteria for our respondents is as follows:
We conducted usability testing sessions lasting 60-90 minutes each. During these sessions, our respondents performed a series of tasks that simulated the key trading journey within a mobile app. In addition to the task testing, we also gathered information about their trading experience, preferred trading methods, and their comprehension of trading concepts. Through our interviews, we asked about daily activity, usage of smartphones in their daily life, application usage, screen time, and digital content preferences with our respondents.
We conducted the usability test in two phases. The first phase involved evaluating competitors’ existing applications, while the second phase focused on testing the current Finex prototype. We learned about how our respondents traded and interacted with the platform, including registration, market analysis, and managing positions.
During the initial phase of our research, we mapped out the user journey for trading activity and identified its most common gain and pain points. Through this exploration, we found that the majority of users faced challenges related to account verification and overall trading process. Additionally, we gained valuable insights into users’ preferences and their desired trading experience, enhancing our understanding of their expectations and goals.
During the second phase of research, the usability test conducted on the Finex prototype revealed valuable insights into trade-related pain points and areas for improvement. However, it is noteworthy that a majority of our respondents expressed positive feedback, finding the prototype user-friendly and informative.
By gaining a deep understanding of traders’ behavior and identifying areas for improvements, we have obtained valuable insights into the best practices for trading applications, as indicated by our respondents. These insights serve as a valuable resource for the Finex team, providing them with clear guidance on areas that require enhancement in their upcoming development efforts.
In conclusion, the outcome of this project was to identify the best practices for development. Through usability testing, we gained deep insights into traders’ preferences and behavior patterns. Leveraging these invaluable findings, we played a role in empowering Data Driven Lab to develop an intuitive trading application. By aligning the upcoming application with the specific needs and behaviors of traders, we were able to guide Data-Driven Lab for enhanced user experiences and improved outcomes.
