One of the key trends taking place in the online retail trading industry is the arrival of institutional products for retail traders and investors. Examples include algorithmic trading systems such as QuantConnect and Qubitia. Created to appeal to both experienced developers and novices, they allow retail traders to develop automated trading systems. Elsewhere, Hedgeable is among the firms aiming to provide retail investors with the long term investment strategies used by hedge funds.
Falling within this trend is WooTrader. Offered as a subscription product, WooTrader conducts daily fundamental and technical analysis of equities to create daily rankings of stocks. The product is aimed at long term investors to create what they believe are the best stocks to hold now based on current macro and micro data.
According to WooTrader, the product follows the principle that company and market fundamentals and technicals are constantly evolving. Therefore, more advanced systems are required to constantly re-evaluate the market, and employ similar strategies used by professionals.
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Adding a new feature, WooTrader has integrated with Tradier and their brokerage API to provide trading directly from the WooTrader platform. The news comes as the number of companies that have integrated with Tradier to enable trading from their apps and websites recently passed 100.
For WooTrader users, the integration will make it easier for customers to make portfolio adjustments based on stock ranking changes. However, as of yet, WooTrader and Tradier haven’t added an automated feature to allow for portfolio changes based on the ranking system to be adjusted systematically.
Craig Russell, Chief Evangelist and SVP of Product at Tradier, commented on the news: “WooTrader, Inc. helps new and veteran investors alike make smarter trading decisions with its ability to analyze hundreds of different stock indicators as the market fluctuates and share comprehensive and weighted stock information in an easy-to-understand and easy-to-apply manner.”
Atanas Stoyanov, Founder and CEO of WooTrader added: “Our integration with the Tradier API arms our users with brokerage capabilities so they can make data-informed investment decisions and then immediately act on those decisions.”