London-based fintech firm Nous Global Markets today released TIQL, a financial market trading app which allows users to trade on the movement of various financial instruments, including stock market indices, commodities and cryptocurrencies.
The app, which is available for PC, Android and iOS, incorporates a unique set of consumer friendly features including small deposits, microtrades, limited losses, no entry or exit costs, no bid/ask spread and payouts of up to 20 times the investment.
Emerging Global Middle Class
Nous built the app following the success of an earlier free to play virtual trading app it released in 2014. After amassing 400,000 players from over 200 countries, the company found that many of them were unable to exercise their newfound skills and passion on the real markets.
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Existing brokers and other service providers did not cater to the needs of people in developing countries, which Nous refers to as the “emerging global middle class”.
In the few months of testing since obtaining its licence, TIQL has already seen over $280,000 wagered by early customers. The customers come from many countries around the world, but the EU, the US and certain other countries are currently restricted due to local regulations.
Founder and CEO Justin Short says: “After 14 years designing automated trading strategies for the world’s biggest investment banks, I saw an opportunity to reach an audience that had been ignored by the markets. Nous’ goal with the release of TIQL is to provide a trusted, fair way for people to discover and capitalize on their talents – and have fun doing it!”
Customers are currently able to deposit using PayPal, Skrill or Neteller, with more options planned. The firm is also planning further expansion and is seeking to raise funds soon to accelerate TIQL’s growth.