The year 2020 in review and the way forward
An open letter to all HyperTraders
Dear HyperTraders 👋🏼
Nobody had a 20/20 vision when it comes to what happened this past year, pun intended.
In all seriousness, many have lost their jobs, closed their businesses, and we’ve all missed countless important events – birthdays, holidays, anniversaries, and graduations. It was certainly not the year we anticipated, and it’s one we’re not gonna forget any time soon. It’s been a year of defining a new normal, and one that we hope we all can learn from.
This has been a really significant year for HyperLinq, we launched HyperTrader 2.0 after a long year of beta testing and review. We’ve built and implemented what traders wanted, impressing even ourselves with our features like the auto-breakeven indicator, the PnL analysis, trade analytics, multi-chart trading, and trading on the charts.
As of August 2020, we opened up our paid subscription plans and closed out our free version. We’ve been trying to pay our bills just the same as everyone else, and we’re very grateful to the trading community for supporting us with your patronage despite the difficult circumstances. It really does mean the world to us! A lot of our competitors rely on selling data, a commission from the exchanges themselves, or some combination of both. We value your privacy as much as we do ours and rely 100% on the subscriptions of those who purchase our app – which is why it’s no longer free.
We’ve heard some criticism from customers that we haven’t been rolling out features nearly as quickly as we were back in beta, and we’d like to quickly clear that up now. We’re growing, which we’re incredibly grateful for, but we’d like to take care of our customers as much as possible. We’re a small team, and since the vast majority of our time goes into customer support and care, we’re not quite able to get features out as fast as we used to. This, compounding with the fact that we’re a subscription product with an expectation of quality, means we push out features a bit slower – we’d never want to give our customers something half-baked or unfinished at all, especially not if they’re paying for it. We want to give you all an experience worth more than what you pay for.
Fear not, though! We’ve ramped up our hiring process, and our first group of new engineers will be joining us in February. With our new team members and a little luck, we’ll be able to see newer, more advanced features by the second quarter of 2021.
It feels incredible to have accomplished all that we have this year! But we’re forward-looking people, and we want to give you some insight into what’s to come for 2021.
The year 2021 will be a huge year for HyperLinq! We’re already investing a lot in getting new features up and running for the app. We’ve not rushed our features in the past and have no intention to start now – we design everything we make for quality, reliability, security, scalability, and ease of use. We’re sticking to our morals with all of our future features, so continue to expect the best from us.
Among the top requests from users are mobile alerts, and we absolutely agree. Price alerts, however, isn’t quite enough for us. We’re working on a scalable monitoring and alerting system beyond just prices, but for various other technical indicators as well.
Another common request is for a HyperTrader mobile app. We do plan to build a mobile app, however, we’d first like to get the desktop app polished up before we start working on that. We plan to hire a separate team of engineers to work on the mobile app, but we have a major hurdle in the Apple app store. They do not allow third-party trading apps, which means that even if we have one built, it’ll be rejected in the review process. We have the experimental app, HyperFolio which only tracks your portfolio. That much, Apple has allowed. So far, they have rejected all updates involving position tracking, which is why we’ve not really been updating the app as much as people might like. We’re going back to the drawing board about that, to try to find the happy balance between what fits within Apple’s rules and allows for the features people have asked for. Our expectation is that by the end of 2021, we will have a mobile app that can do all of those things along with the HyperTrader app on the desktop.
We often get requests for a web-browser based version of HyperTrader, and with much deliberation, have decided that it’s probably not for the best to create one. The web app will always be the slower, less secure brother of the desktop app, on top of us having less control overall with it. We agree that would be really cool to do someday, but right now that would take away valuable resources and time from the desktop and mobile apps.
We reached out to the users who tried the app and didn’t subscribe, and one of the major reasons they didn’t return is that they were beginner traders only working with small sums. We fully understand that when beginning trading, paying for a tool like HyperTrader can be a bit steep, and you may be somewhat overwhelmed by how many features there are. We’re working on introducing beginner plans for traders who have just started out on their crypto journey, but we don’t have a roadmap fully fleshed out as of yet – discussions are still going on internally, but expect to hear about it within the next year!
While we work on the beginner pricing plan, do expect the pricing for the basic plan to increase. Don’t worry if you’ve already subscribed! Your pricing is locked and will not change unless you unsubscribe. Some of our new features planned for 2021 will have their own pricing plan, and you can always upgrade your plan as we launch new ones.
Our mission is to provide you with high-quality tools usually available only to institutional customers. We’re here to level the playing field for data, tools, and opportunities. We’re a customer-fanatical company that wants little more than just to innovate while keeping focusing on customer happiness and experience. We’ve succeeded so far and will continue to do so.
Your continued support means the world to us. Seriously, we can’t thank you enough. It’s because of you that we’re walking into our third year with our heads held high.
If you have anything you want to say – don’t be a stranger! Reach out and tell us your thoughts. You have our ears.
May 2021 bring you and your loved ones much joy and happiness.
Happy New Year 🎊
– Amar Gautam & the HyperLinq Team