OhMyGeorge, a foreign exchange (forex) trading app, announced last week that it has joined forces with AxiTrader, a retail forex broker, to improve the profitability of traders who use the app.
Established in 2016, OhMyGeorge is part of Lucolimat Limited, a software company aimed at millennials. The app allows new traders to steer their way through the complex financial markets.
The app was created by French developer Lucien Tavano, who saw a need for a more streamlined trading app. Since launching, OhMyGeorge has almost 200,000 downloads across the globe. In addition to the FX trading app, Lucolimat Limited also develops trading software and other products for fintech startups and financial institutions.
OhMyGeorge has evolved into a gamification trading platform, where traders can “level up.” As they climb up the levels, investors are introduced to increasingly complex terminology gradually, allowing beginners to learn how to trade without being overwhelmed.
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According to the statement, with the European Securities and Markets Authority (ESMA) regulation now requiring European brokers to display client profitability on their website, apps such as OhMyGeorge have grown in popularity.
Because of this statistic, many brokers in Europe are looking for ways to reduce the number of clients that lose money. According to Lucien, AxiTrader was a perfect fit to help improve the profitability of traders using the app.
“AxiTrader was a natural partnership for OhMyGeorge, they offer many tools for beginners that we are able to integrate into the trading app,” he said.
AxiTrader was founded in 2007, and it is headquartered in Australia. The broker has shown its dedication to trading education throughout its operations. Only last month the firm announced that it has entered into a partnership agreement with Knightsbridge Trading Academy.
OhMyGeorge celebrates AxiTrader collaboration
To commemorate the collaboration, OhMyGeorge is hosting a competition where the winner will receive a $500 live trading account at AxiTrader. The competition starts on January 20, 2018, and will run for one week.