In the course of the research, we have found that different types of orders and functionalities that the exchanges are trying to implement, have a great response from traders. Moreover, various orders are actively used by them. However, the simple types of the orders, which immediately end up in the order book after, are still the most frequently used. The Limit Orders are on the frontline of leadership.
A significant part of traders surveyed notes that using the complex order types and the additional functionality greatly affects the profitability of trading. For most people, the availability of a wide range of trading functionalities on the cryptocurrency exchange is one of the most important criterias. In addition, in some cases, users prefer exchanges that have complex orders. Nevertheless, the research revealed that despite the attractiveness of the smart orders and their positive impact on profits, almost half of the respondents had difficulties in mastering these order types. It follows herefrom that the exchanges should be more attentive to the education and training issues and interactive demonstration of the functionality of smart orders for the greater user adoption.
Obviously, in order to retain traders, the exchanges should not only pay attention to technical support and convenience in working with classic orders, but also initiate the development of new tools, that correspond to the market challenges. The new KickEX
crypto exchange demonstrates one of such examples of successful implementation of the complex orders. Here advanced traders have double Stop Orders and Trailing Orders at their hand. In addition, the developers have taken care of the smart cashback feature— up to 100% of trading commissions, and the affiliate program
for additional partly passive income for users. The "conservative" traders should think about introducing new complex orders into their trading strategies, which, as the research has shown, have a chance to bring profits up the next level.