New Prop Trading Firm Tradiac Offers Redemption to Remote Traders

by Solomon Oladipupo
  • Tradiac was co-founded by Scandinavian Capital Markets' Michael Buchbinder.
  • Prime broker GCEX also recently launched two proprietary trading platforms.
New Prop Trading Firm Tradiac Offers Redemption to Remote Traders
Join our Telegram channel

Michael Buchbinder, the Managing Partner at the Swedish online broker Scandinavian Capital Markets, has launched a new proprietary trading firm, Tradiac, in partnership with an unnamed 'exclusive hedge fund'. Tradiac said one of its major goals is to provide redemption opportunities to remote traders to become successful traders.

Tradiac Seeks to Beat Status Quo

In a statement announcing its launch, Tradiac decried the industry practice in which many remote traders are typically instantly disqualified due to strict risk management rules. The platform believes this practice results in premature trade losses.

With support from the hedge fund, Tradiac said it is “set to change the landscape of the proprietary trading industry” by offering redemption tests to these types of traders. It noted that traders that pass the tests are then returned to their previous successful funding level.

Furthermore, the new company noted that it offers successful individual traders with access to larger amounts of capital. The platform through its partnership with Scandinavian Capital Markets is also providing traders with access to the MetaTrader and cTrader trading platforms.

"The most difficult part for individual traders is securing the capital needed to trade full-time,” said Buchbinder. “At Tradiac, we aim to remove this hurdle, giving our traders the opportunity to maximize their potential."

Buchbinder brings over 16 years of FX and trading industry experience to the new venture. However, with the contribution of partners at the hedge fund, Tradiac hopes to utilise more than 75 years of combined industry experience from all of its executives.

GCEX Launches Prop Trading Platforms

Meanwhile, the digital prime broker GCEX recently expanded into the proprietary trading industry with the launch of two platforms, XplorSpot and XplorTrader. Both platforms are part of the company’s XplorDigital trading solutions targeted at brokers, fund managers, hedge funds and professional traders. While XplorSpot is designed for crypto trading among institutional clients, XplorTrader works for margin forex and contracts for difference trading.

In a related industry development, proprietary trading executives across the world expect interest rate derivatives to be the most profitable of all asset classes for proprietary trading companies in 2023. They also see great potential in equity options trading.

Options' Paris office; BidX's new Liquidity Manager; read today's news nuggets.

Michael Buchbinder, the Managing Partner at the Swedish online broker Scandinavian Capital Markets, has launched a new proprietary trading firm, Tradiac, in partnership with an unnamed 'exclusive hedge fund'. Tradiac said one of its major goals is to provide redemption opportunities to remote traders to become successful traders.

Tradiac Seeks to Beat Status Quo

In a statement announcing its launch, Tradiac decried the industry practice in which many remote traders are typically instantly disqualified due to strict risk management rules. The platform believes this practice results in premature trade losses.

With support from the hedge fund, Tradiac said it is “set to change the landscape of the proprietary trading industry” by offering redemption tests to these types of traders. It noted that traders that pass the tests are then returned to their previous successful funding level.

Furthermore, the new company noted that it offers successful individual traders with access to larger amounts of capital. The platform through its partnership with Scandinavian Capital Markets is also providing traders with access to the MetaTrader and cTrader trading platforms.

"The most difficult part for individual traders is securing the capital needed to trade full-time,” said Buchbinder. “At Tradiac, we aim to remove this hurdle, giving our traders the opportunity to maximize their potential."

Buchbinder brings over 16 years of FX and trading industry experience to the new venture. However, with the contribution of partners at the hedge fund, Tradiac hopes to utilise more than 75 years of combined industry experience from all of its executives.

GCEX Launches Prop Trading Platforms

Meanwhile, the digital prime broker GCEX recently expanded into the proprietary trading industry with the launch of two platforms, XplorSpot and XplorTrader. Both platforms are part of the company’s XplorDigital trading solutions targeted at brokers, fund managers, hedge funds and professional traders. While XplorSpot is designed for crypto trading among institutional clients, XplorTrader works for margin forex and contracts for difference trading.

In a related industry development, proprietary trading executives across the world expect interest rate derivatives to be the most profitable of all asset classes for proprietary trading companies in 2023. They also see great potential in equity options trading.

Options' Paris office; BidX's new Liquidity Manager; read today's news nuggets.

!"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|} !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}