After many years of experimenting, watching traders’ behavior and executing hundreds of millions of signals, we at Tradency have an in-depth understanding of the principal challenges of both traders and brokers…
A new synergy has been announced by online foreign exchange trading provider FXDD Global, and automated trading pioneer technology provider Tradency, which culminated in the launch of RoboX today, according to an official FXDD press release.
A longstanding partner of Tradency, FXDD has used many of the companies related B2B solutions to offer out trading platforms to its retail clients, and now becomes the first international FX broker to offer access to RoboX, as per the update. Finance Magnates wrote about the launch of RoboX earlier in March this year.
RoboX is described as a smart trading machine based on an array of proprietary trading strategies that are packaged along with proprietary risk matching engines that help traders tailor their trading portfolios based on relevant risk appetite and client trading preferences.
“FXDD Global is committed to creating the best trading environment for our clients and ensuring they have the technology they need to be successful,” said Lubomir Kaneti, director at FXDD Global, commenting in the official press release.
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Mr. Kaneti added: “Providing them access to the power of their very own Robo-Advisor through RoboX’s proprietary software is the next step in honoring our commitment.”
“After many years of experimenting, watching traders’ behavior and executing hundreds of millions of signals, we at Tradency have an in-depth understanding of the principal challenges of both traders and brokers,” said Oz Golan, Tradency’s vice president of sales, commenting in the press release.
Mr. Golan added: “RoboX leverages the benefits of FX algo trading by utilizing the global trend of robo advisors combined with our vast amount of content of algo trading strategies. RoboX is the perfect gateway to many traders holding an investment portfolio wanting to diversify their investment by entering the lucrative FX and CFDs market.”
Algorithm + Questionnaire
The product name lends itself to the rise in popularity of robo-advisory, something that Tradency has been pioneering for more than a decade, with brokers such as FXDD on board for nearly as long. The power of RoboX was explained as being able to scan over one million strategies and correlate it to traders’ personal trading styles which are determined by a short questionnaire.
Many competing robo-advisory solutions use such a questionnaire style approach in order to follow a systematic process while meeting required KYC and suitability requirements, that human advisors would otherwise ask in person.
The RoboX product was described as able to create trading packages for both self-directed and institutional traders globally, and each package is automatically updated by Tradency’s unique algorithm to help ensure that only the most suitable strategies are matched with each trader’s needs. A screenshot of the RoboX platform tailored for FXDD can be seen below: