Tradable seeks to revolutionize online FX trading with app-store approach
Tradable has launched a new FX platform it believes will revolutionize the world of online retail trading.
As EuromoneyFXNews reported in July, the company has developed an app-based platform that provides a trading system users can customize by downloading a range of trading applications from third-party technology developers.
The Copenhagen-based firm, which is funded by broker GFH Group, describes the app-store approach as the “world’s first open trading platform”.
It says many apps have been created for the platform, including ones that provide automated trading tools, algorithmic trading strategies, social trading, charting tools and market news. More apps are set to be unveiled in the coming months. “We have developed the industry’s first app store that caters for all types of traders and is a one-stop-shop for the very best trading tools in the market,” says Jannick Malling, CEO at tradable.
“The platform will constantly evolve as new tools are built by our developer community, ensuring that the changing needs of traders will continue to be met.”
After 18 months of development and a private launch for beta developers in March, tradable has now launched with six FSA-regulated FX brokers on board and 31 apps.
Christian Frahm, executive chairman and founder of tradable, believes there is a gap in the market for his platform, which will connect traders, brokers and developers by making the marketplace for trading tools and apps more transparent and efficient.
“The online world is becoming a much more open, social and collaborative place,” he says. “Even though the online trading industry has traditionally been a late adopter of trends on the web, this has become true for this industry as well.”
Banks too have warmed to the idea, aware that a move towards a more open and collaborative model in FX not only reflects how other industries are moving as far as the development and adoption of technology is concerned, but can address worries about increased regulation in the industry.