“While managed and signal-based or social trading are not new and have their role in the market serving particular segments of investors. Here we have an innovative idea where the signal based trading is blended with AI that is intended to deliver personalized solution matching the goals and risk tolerance of the particular client” – Lubomir Kaneti, COO, FXDD
The ability to retain and continue to engage retail FX traders remains one of the most important concerns for today’s FX brokerages, and in the post-social trading environment in which many traders are very familiar with the potential changes that can quickly occur in the markets, therefore interactive solutions which continue to adapt to the requirements of traders as well as to the market conditions are critical.
A relatively short time has passed since financial technology company Tradency launched its RoboX solution, FinanceFeeds at the time having met with CEO Lior Nabat at the company’s headquarters to take a close look at the way that the system uses big data that has been retained by Tradency since the company’s establishment eleven years ago to automatically select new strategies for traders that are either not continuing to successfully trade the currency markets after a period of success, or have run their lifetime value and become dormant.
In essence, the ethos of RoboX is to ensure that traders remain engaged and to adapt the strategies and provide new trade leaders that are most appropriate in an ever-changing liquid market to extend customer lifetime value for brokerages as well as to further the satisfaction of the trading experience for traders.
Today, Tradency has confirmed that during the last 3 months, since RoboX was first introduced to the market, the company has partnered with 12 new worldwide brokers in order to offer RoboX services to their retail clients.
The very first firm to adopt the system was FXDD in May this year, marking a landmark in the development and progress of RoboX. FinanceFeeds spoke to FXDD COO Lubomir Kaneti about the company’s pioneering launch of Tradency’s RoboX.
“While managed and signal-based or social trading are not new and have their role in the market serving particular segments of investors. Here we have an innovative idea where the signal based trading is blended with AI that is intended to deliver personalized solution matching the goals and risk tolerance of the particular client” said Mr. Kaneti.
“Of course volumes can be written about how good the algorithm is and how much better the personalized solution is compared to other options, but I think the team at Tradency has a lot of experience in this area and they are committed to providing a world class product” – Lubomir Kaneti, COO, FXDD
Mr. Kaneti continued “What we see now is of course the first wave of innovation in this direction. I have no doubt that it will evolve in time and it will prove its efficiency.”
“We have to remember here that this solution relies on the client providing feedback that honestly describes their views and tolerance as an investor. Small changes in feedback may result in significant change in performance over time, however investors should not forget that RoboX does not take away the risk associated with leveraged investing, I believe it is intended to help investors try better more-optimized strategies” concluded Mr. Kaneti.
From Tradency’s head office, Mr. Nabat demonstrated his enthusiasm for the new system by explaining “We have got so much data, and have employed a technological innovation method which is so advanced that without any problem we can scale all kinds of packages of strategies, rules, signals, and ensure that it continues to choose the right execution at the right time.”
“We can also eliminate the problem with quantity. Today, I have finally understood the packaging that people use. We have therefore created a simple user interface which asks the user three simple questions, those being about risk, what kind of trader they are, and what they want to achieve from their trades over a long or short term. This way, the system can automatically choose packaging that uses our data to fit the profile of each user and spread the loads between all the packages available” said Mr. Nabat.
dispelled many widely held beliefs about trading strategies, and explained comprehensively how big data collected over the years by Tradency can now be used to ensure that traders are able to access the most appropriate strategies for their circumstances at all times.
“Everyone deals with their challenges in a different way” said Mr. Nabat. All the big data that we have collected can be used to disrupt and innovate, and therefore we figured that we could use and adjust the data that we have collected for the advantage of development of the system.”
“We took the data, and it was very interesting what came out of the studies that we made.”
“The new RoboX system differs from anything that has gone before” enthused Mr. Nabat. “Think of its main structure as being a kind of package warehouse which holds a series of rules. Traders can put them in a group, and then can switch between them all the time. The packages consist of a superset of the best strategies that follow pre-define rules. Then, in pre-defined periodic schedules, the package updates the content within it automatically to contain only the most qualify strategies available.”
“This way, clients can receive the best strategies all the time, according to market conditions and their requirements. There is absolutely no need to learn, and no need to think about trading at all. This has been made possible by combining the data, strategies and signals and extracting the best details” he said.
Following FXDD in adoption of RoboX over the last three months are brokers from several regions, including Trade 24, Best Leader Global Market NZ Ltd. and Fullerton Markets, demonstrating that with international brokerages from multiple regions on the client list, RoboX is winning the attention of the global FX community.
According to Tradency, the company has a total of over 2 million users. RoboX is Tradency’s latest innovation, a proprietary learning machine which builds a portfolio of strategies according to the most suitable strategies for current market conditions.
Oz Golan, Tradency’s VP Sales today spoke with regard to the rapid uptake by brokerages of the RoboX system:
“RoboX takes Tradency’s +1m strategies database and cleverly dissects and analyses their performance so that it can construct specific smart packages that suits the individual trader in accordance to the ever changing market conditions. We are extremely pleased to see that brokers are putting their faith and trust in our innovative technology”.#Brokers, #forex, #robox, #tradency