Streak is the world’s fastest systematic trading platform, which was founded in 2017. They combined trading and technology to deliver an innovative solution for both novice and seasoned traders.
Streak shook hands with India’s leading broking firm Zerodha, and became an official partner. People using Kite could now easily log in to their Kite account and access Streak features.
What features make traders love Streak? What worked in Streak’s favour?
It’s the fact that people can manage their trades on the go on their mobile phones (iOS and Android) without needing to know any coding. They have made systematic trading accessible and affordable to all.
They provide the tools required in a modern trading environment, including 250+ scanners, technical strategies, backtesting, live deployment, dynamic contracts, and more.
Streak gives traders the edge they always lacked. With systematic trading, backtesting, and live deployment, they can now become more disciplined and effectively manage risk, ultimately becoming better traders than before.
It doesn’t just stop there; Streak also offers a 7-day free trial, allowing you to experience Streak without any long-term commitments.
With a 4.7-star rating on the Play Store and 1L+ downloads, the platform designers still could use some suggestions, and that’s what we are here for today.
How did Streak become so Popular?
- People were hesitant towards systematic trading because they thought coding knowledge was a must. However, with Streak’s drag-and-drop interface, the need for coding knowledge is eliminated. It makes it easy for traders to automate their portfolio strategy.
- In a significant stride, Streak joined forces with Zerodha, India’s leading broking house, to democratise algo trading. This partnership further instilled a lot of trust in the users because Zerodha is a trusted name.
- New to trading? Don’t worry, Streak has a strategy builder that allows traders to discover their trading potential. It’s available in basic and advanced modes.
- Once you select your products, Streak enables you to set stop-loss orders and target profit levels. You can do this with multiple brokers. Once you select the required information, you can leave the rest on the platform; it will take care of your orders.
- Streak is a boon for people who are tired of being tied to their trading screen, constantly monitoring charts. Streak enables traders to test their strategies using historical data without risking real money. Thus, the Streak Advance algo trading platform frees you from the daily manual efforts to boost your portfolio.
From Data to Decision #UserFeedbackDecoded
- Many users have requested a user guide or manual within the app, which would be particularly helpful for beginners.
- Users have been complaining that they have to log in to their Zerodha account repeatedly on this app, as it keeps getting disconnected.
- Every time a user opens the app, they can’t close it or switch to any other app on Android. Even after choosing to exit, the app doesn’t minimise.
- Many users found the earlier version of the app, Streak Pro, to be better than the current version. They aren’t comfortable with the changes in UI or the process of creating strategies and tags.
- The absence of a dynamic contract option is a significant concern for many users.
Streak App Review Led By Vidushi, A Design Expert At Yellowslice.
Reviewed by:
- Vidushi
- Harshini
- Sonalika
- Samrudhi
- Aadesh
Here are the findings that the UI/UX designers found out about the Streak app,
Information Overload
While the titles are informative, a true novice user might still be unsure of what a “scanner” or “strategy” is. They should not be overwhelmed with information, as they don’t fully understand what it means in the context of trading.
Inconsistent Onboarding Interaction
This screen illustrates the interaction between the two onboarding screens. The onboarding interaction is not smooth.
Users may find this interaction to be jarring and inconsistent. This could raise concerns about the app’s overall quality and reliability, particularly given its role in handling sensitive trading information. If fundamental interactions are problematic, users may question the app’s ability to manage complex tasks.
Information Hierarchy
The information hierarchy is unclear here, which is why it cannot effectively guide users’ attention. For instance, the login button, one of the most crucial elements on the screen, is small and does not capture users’ eyes.
The information is still presented in a way that might be overwhelming for a new user. Consider if the hierarchy could be improved to guide the user’s attention.
Unclear Modals
This modal appears when you click the third option in the middle of the navigation. The exact purpose of this modal is unclear. It can be for a quick access menu or a settings menu, but they are also redundant.
“Discover Scanners” and “Discover Strategies” are already accessible through the bottom navigation bar. Some labels, such as “Order book” and “Positions,” may not be immediately clear to novice users.
Higher Consumer Satisfaction = Higher Conversion Rates 🚀
Our designers didn’t just highlight the platform’s problems; they also developed solutions to improve it. Based on the problems mentioned above, the following solutions were suggested.
Clarity For New Users
There should be a brief explanation of financial terminology to help people new to stock trading. Ensure that the language used is clear and easy to understand. There should be a progressive disclosure of the information.
On the first screen, focus on the core concept of scanners. More detailed information can be introduced on subsequent screens or within the app itself. Tooltips or brief explanations can be added on the homepage for more clarity after onboarding.
Although there are screens that introduce more advanced concepts, such as “backtesting” and “virtual trading.” They could have been explained more clearly to novice traders.
Maintain Consistency in the Onboarding Screen
To enhance the user experience, ensure that the transition between onboarding screens is fluid and captivating. While the dot indicator helps track progress, the ideal scenario is for only the screen content to change while the dot indicator and CTA maintain a consistent presence.
Maintain an Informational Hierarchy
Users could better understand information if it were presented in a better hierarchy. For instance, the difference between a heading and a subheading should be prominent so that it’s easy to comprehend the information on screen. Make the login button in a way that it’s one of the first things to catch the user’s eye.
Make Modals Comprehensive
The items on modals are presented with equal visual weight. To improve the visual hierarchy, some items should be prioritised, and others should be grouped. Items that are already there in other navigation items should not be included in this section.
Expert Review by Vidushi
Streak has partnered with Zerodha, a massive name in the trading industry; they must be doing something right. A clean, modern, and consistent design language featuring a light colour scheme is working well for them. Not only does it enhance visual appeal, but it also fosters user trust, which is crucial in a fintech app.
However, as the famous saying goes, nothing is perfect. In UX, this is especially the case; designers can always strive to make it easy for users to use the platform. We have a team of skilled designers, such as those at Yellow Slice, who can help refine your digital product.
FAQs- Streak User Journey Decoded
1. Why are people choosing Streak?
On the homepage itself, Streak is doing a great job; they set high expectations by showcasing that there are 250+ pre-built scanners. Mentioning the indices (NIFTY, BANKNIFTY, FINNIFTY) and timeframes (1 minute to 1 Day) further sets expectations for the app’s potential.
There’s a lot of consistency in terms of the design and colour palette of the app. Calls to action, such as “Get Started,” are displayed on the app, providing a clear next step for the user.
2. Where can the UI and UX of the Streak app be improved?
The homepage of the Streak app is not personalised for different users based on their onboarding selections or activity on the app. The small statistics charts are a good starting point, but they could be more visually appealing to capture the user’s attention.
The data presented on several screens is presented in a dense format. Visual cues, in addition to these data points, can improve readability.
