Pepperstone, an Australian foreign exchange and CFDs broker, has started to notify its clients about a new service promoted on its website: the RoboX. The automated, forex-oriented algorithm developed by Tradency, a financial technology provider, has been popping up as a new service on different companies’ websites recently.
The email making the rounds of the firm’s client base states that RoboX is able to create trading strategies by taking into account a trader’s individual style and a large-scale algorithm database. Algorithmic trading, more commonly known as algo trading, is a process in which computers follow a set of rules regarding the opening of a trade. The goal is to generate a profit more frequently and more quickly than a human being ever could.
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“The firm was the first in Japan to add this feature to its services.”
Last week, Finance Magnates reported on Rakuten Securities having collaborated with Tradency in launching RoboX on its website. The firm was the first in Japan to add this feature to its services, and it has made it available to its customers around the world.
Earlier this month, Finance Magnates also covered Pepperstone’s new partnership with ISightThis for two of the latter’s products, Paydentity and Payment Gateway. The partnership includes Pepperstone’s subsidiaries in both Australia and the United Kingdom.
These products are offering a new payment platform that also provides an automated identity verification process, known within the online trading industry as know-your-customer (KYC).