Created to lower the barriers of machine learning algorithms for trading is Inovance Technologies’ TRAIDE platform.
Since releasing the product to the public beta in 2014, the platform has evolved to target the online retail trading sector. Initially focusing on forex trading, traders are able to enter a forex pair and add indicators and time frames with TRAIDE using machine learning technology to provide optimal parameters for trades. Strategies can then be converted to MQL language in the form of Expert Advisors (EA) for MetaTrader 4 traders.
Further expanding TRAIDE’s features, Inovance has announced that it has added equity analysis, with 3000 stocks now being supported. Speaking with Justin Cahoon, COO at Inovance, he explained that adding stocks is a natural progression for the system as customers had expressed interest for them as well as the fact that “CFDs have become more popular so makes sense to offer variety.”
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According to Cahoon, the product currently has about 300 active users that create at least one strategy a week. Of their users, about 40% use the product to convert strategies to EAs to help them with their automated trading.
Currently, TRAIDE is still available as a free product with Cahoon explaining that Inovance is focused on growing its user base and gaining customer feedback. Among users are algorithmic traders that use TRAIDE to build and automate their trading and that express to Inovance that they view the product as “the future of where algorithmic trading is going”.
Down the line, Cahoon cited that the company’s business plan is to license TRAIDE to brokers. In this regard, Inovance has partnered with several brokers such as Darwinex and Core Liquidity to provide TRAIDE to their customers. In regard to Darwinex, Inovance has plans to utilize its backtesting diagnostics tool.