Monex starts offering AI-based “medical prescriptions” to improve clients’ Forex trading

Maria Nikolova

The service, available to users of Monex’s FX Plus, will analyze traders’ performance and will issue recipes for improvement.

In line with previous announcements, Japanese retail Forex broker Monex Inc, a subsidiary of Monex Group, Inc. (TYO:8698), today officially launched a new service that taps the capabilities of artificial intelligence (AI) to enhance Forex trading.

The service, developed in partnership with technology expert HEROZ Inc, aims to prescribe AI treatment so that one can improve his/her trading style and, ultimately, one’s trading results. That is, the service, which is available to users of Monex’s FX Plus, will actually result in a sort of “medical prescriptions” for Forex traders.

A special AI engine, called Heroz Kishin, analyzes the past trading data provided by a trader. Please, note, that the machine learning process needs a couple of days of to deal with the data. Moreover, a certain minimum number of trades is necessary so that the system has enough data to produce a credible picture of one’s trading style. After the machine learning analysis is ready, it produces a chart, depicting one’s trading style and results.

After that, a trader gets to pick from five target styles. The system will analyze any discrepancies between the current and the target performance and will provide a roadmap to reaching the goals the trader has set himself/herself.

The partnership with HEROZ, which is known for its Japanese chess programs, marks another step into the AI world for Monex. In April last year, the broker unveiled a collaboration with fintech company Good Moneyger in order to deliver a “Monex AI Report” to its customers. Good Moneyger’s AI solution – VESTA, seeks to reduce chances of investment loss by examining market data and cycles and estimating chances of market crashes. The report itself is intended to be simple and understandable – it rates the investment score of various asset classes based on a three-stages scale. There is also a “weather forecast” for the global market, with a map reflecting the business confidence in various regions.

Let’s also note the recent launch of Monex’s robo-advisory service where a customer can determine one’s own investment policy and easily manage his/her assets with a support of professional advice. Unlike discretionary investment, customers can make investment decisions on their own with analyzing the market and the global economy. More than 1,000 patterns of portfolio combinations are available to help customers manage their assets on their own policy.

Read this next

Retail FX

Spotware rolls out Manager’s API for cTrader brokers

Spotware Systems, a technology provider for the electronic trading industry, has released its new Manager’s API for Brokers, providing powerful tools for server-server integration.

Metaverse Gaming NFT

Dubai Museum taps Binance to jump onto NFT bandwagon

Dubai’s Museum of the Future, the $136 million UAE government-sponsored museum that opened a few weeks ago, is joining forces with Binance NFT to roll out a range of digital products on blockchain.

Digital Assets

Ripple and Lithuanian FINCI partner for XRP-based payments

Ripple is looking to expand its presence in Europe, forming a new partnership with Lithuanian electronic money institution FINCI.

Digital Assets

Crypto.com enables Shopify merchants to accept crypto payments

Crypto.com has integrated with Canadian e-commerce giant Shopify so global merchants can accept crypto payments and save on processing fees through cash-final settlements.

Institutional FX

FX volume drops 13pct at CLS Group in April 2022

FX settlement specialist CLS Group today reported that the executed volumes of currency trading on its platforms were notably down in April.

Crypto Insider, Opinion

Regulation: The Gold-Standard for Crypto-Assets

When the US supervisory authority SEC allowed an investment product referencing Bitcoin futures to be traded for the first time last October, this was widely perceived as a signal that cryptocurrencies had finally become established as an asset class.

Executive Moves

Solid hires FX industry veteran Darren Barker for multi-bank ECN’s business development

His curriculum vitae includes former roles at Cantor Fitzgerald, Sucden Financial, R.J. O’Brien, Jefferies, Natixis, Unicredit, J.P. Morgan, Raiffeisen, RBS International, UBS, Deutsche Bank, and Citi. 

Inside View

Mihails Safro, xpate CEO: Tips sellers need to know to overcome compliance obstacles

The unprecedented growth of e-commerce changed shopping dramatically last year. Many sellers suddenly faced a rapidly growing number of customers who had to stay home during the lockdown. When some clients adopted Netflix and Spotify as part of a daily routine, others ventured into online business. Robinhood alone saw a whopping 6 million rise in user numbers in 2 months. 

Institutional FX

BMLL delivers Level 3 data to Kepler Cheuvreux for order book analytics and algo performance

The solution covers more than 6.5 years of harmonised historical data from 65 venues and combines it with easy to use APIs and analytics libraries in a secure cloud environment. 

<