Tradency’s RoboX solution which tailors trading strategies toward the behavior of each trader with a bespoke portfolio of packages best suited to his trading preferences and risk flavor has now begun its foray into the Commonwealth of Independent States as Gerchik & Co takes it on board
Earlier this year, FinTech specialist Tradency launched the RoboX solution which uses big data collected by the company throughout the course of its 11 year establishment to automatically select relevent trading strategies for retail FX traders to follow automatically.
The solution at the time was described by Tradency CEO Lior Nabat explained to FinanceFeeds “In order to take a good look at the evolution and development of the entire solution, we need to go all the way back to 2004 when Tradency was founded. Mirror Trader was invented in 2005, and at that time when I had completed the development of the Mirror Trader, I had a vision of what to do going forward” he continued.
“After a few years, something very important then became very clear indeed, this being that a number of different categories within the Mirror Trader had materialized.”
Mr. Nabat said “The Mirror Trader platform was initially established to allow retail investors to automatically follow the trading behavior of the experts in the industry. During those inaugural years, we learned a lot about how the user base, which encompassed lead traders, signal providers and followers, behaved and we collected full data which looked at the millions of users.”
This study of data enabled Tradency to see patterns and preferences within users. The company could see how people behave, how stragegies are doing, and what happened to the market at specific times, and how traders, users and leaders alike, reacted to these parameters.
By the third quarter of this year, 12 brokerages had taken on board the solution, and now the firm has extended the service into the Commonwealth of Independent States, which is the free market area that used to form part of the Soviet Union.
Electronic Trading company Gerchik & Co has now onboarded RoboX. The new exciting service is a smart trading machine based on powerful packages of strategies. The package selection process is accompanied by proprietary risk matching engines that tailors strategies toward each trader with a bespoke portfolio of packages best suited to his trading preferences and risk flavor.
Gerchik & Co was founded at 2015, under the leadership and management of Alex Gerchik. RoboX is Gerchik & Co’s newsest offering and with regard to its integration into Gerchik & Co’s system, Oleg Kompaniets, CIO at Gerchik & Co, believes that machine inelegance based trading solutions such as Robox is the perfect tool for providing transparent and comfortable opportunities for trading.
Evgeny Chernin Tradency’s Head of Sales, Russia & CIS explains further about the core concept behind RoboX: “To generate this innovative service RoboX automatically correlates between the trader’s personal risk tolerance and trading flavors which are determined by a short questionnaire, and a proprietary algorithm that scans our more than 1,000,000 strategies. RoboX takes all this data into account then creates packages according to predefined rules. Each package is automatically updated by the unique algorithm that keeps afloat only the most suitable strategies matching the trader’s trading profile.”
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