LeapRate Exclusive… Forex trading app OhMyGeorge has announced that it has teamed up with retail FX broker AxiTrader in order to help improve the profitability of its traders.
OhMyGeorge was created back in 2016 by the French developer Lucien Tavano.
AxiTrader was a natural partnership for OhMyGeorge, they offer many tools for beginners that we are able to integrate into the trading app”, commented Lucien Tavano.
Some Forex concepts are quite difficult to understand – the “spread” for example is one of those trading concepts. OhMyGeorge took that concept out for new users of the app and only re-introduces it later on when the trader becomes more knowledgeable. This type of feedback led OhMyGeorge to build a gamification system where users earn experience points in order to level up and unlock new features, such as financial instruments and charting tools.
Probably one of the most complex concepts for a new trader to grasp is proper risk management. One of OhMyGeorge’s tag lines is “No Math”. Because calculating risk and deciding where to place stop losses and take profits is not an easy concept for new traders to grasp, the OhMyGeorge app handles all the calculations. For instance, to open a new position, users only have to select how much they want to risk in dollar terms, I.E. $10 per trade. The app then automatically selects the trade size, the leverage, and sets the stop loss. The idea is to remove most of the technical considerations for beginner traders so that they can purely focus on managing their emotions and risk.
Last month AxiTrader has announced that it has entered another educational partnership agreement with Knightsbridge Trading Academy.