Tradable gaining traction; new platform to change retail FX
Tradable, a new platform that is hoping to revolutionize FX online trading, is set to launch later in the summer.
The company, which is backed by one of the leading investment firms within the industry, is said to be redefining the online trading by giving customers the choice of how they want to trade. EuromoneyFXNews has learned that the new company is working with tech players worldwide within areas such as algo trading, social trading, charting, news and media content, technical analysis and analytics.
As this video released by tradable earlier this year hints, today’s FX marketplace requires brokers to integrate with different technology players to keep a dynamic offering.
“In the video, we’re highlighting some of the challenges that have defined the online trading space – ending with the challenge that brokers, traders and developers face today – which centres around collaborating on the product offering and innovating in this space,” says Jannick Malling, tradable chief executive.
The product is not officially going live for several weeks, but EuromoneyFXNews has learned that it has been in private beta for a few months now, attracting considerable interest from both brokers and technology vendors.
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 over increased regulation in the industry.
“As the video hints, tradable will be a new way of distributing technology to deliver a customized trading experience, which is pretty much unprecedented in the space today,” says Malling.
“Tradable will basically work with brokers and developers in a model that is completely new to the online trading industry, which we believe will push the industry in this direction.”