Japan retail forex broker Rakuten, Inc. (TYO:4755) and financial technology provider Tradency today announced that the two companies have collaborated to launch the RoboX service.
As a result of this newly formed partnership, the RoboX service will become available to Rakuten Securities, retail forex traders. Rakuten will become the first broker offering this service in Japan, and will also add the Robox to its global financial services.
Tradency’s RoboX, launched last year, is a simple, personalized, and dynamic method of FX trading that uses technology to the trader’s advantage. This service combines Robo advisory simplicity, such as using human language interface and presenting big data in a visual look, with a very complex AI technology to screen and sort trading strategies for the traders.
As the global financial technology (FinTech) evolves, we are also aiming to develop and provide new financial services that utilize artificial intelligence etc.” says Hiroaki Nagakura, Rakuten Securities Senior Executive Officer Global Head of FX Business FX Business Division “By providing our customers Tradency’s robo-adviser service “RoboX” as the first broker in Japan, we believe it will be the best opportunity for the Japanese individual investors to try new technologies.
Being chosen by Rakuten is a sign of trust for us” says Gil Eyal, Tradency co-founder and President “We have invested in developing our role in the Japanese financial technology market for more than a decade, and believe that this new partnership with Rakuten, reflects our position as one of the top providers of this market.
FXCM Japan, which Rakuten bought in 2015, had once implemented Tradency’s other major product, Mirror Trader, but phased it out after Rakuten bought the company.