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With Tradency and its CEO Lior Nabat having invented the Mirror Trading concept more than a decade ago, when the company launches a new product it pays to pay attention.
LeapRate was pleased to speak recently with Lior and Tradency’s VP of Sales Oz Golan, to get an inside peek at its latest offering called RoboX and how it differs from current mirror and algo trading products.
Along the way we also learned of Tradency’s plan to have its solutions regulated in the EU for fund management purposes, which Lior and Oz also address.
But first, RoboX. Coming with a very simple and straightforward GUI, It looks like Lior and his team have taken a crack at solving one of the key problems of Robo / Mirror / Copy trading – when to get in and when to get out. As no one algo works all the time, and the risk of following just one strategy (like owning just one stock) is high, RoboX helps traders build a portfolio of algos based on a trader’s preferences (high risk, low risk, etc.), while frequently making adjustments based on performance over time.
Another question is: Why should FX brokers add RoboX? As Tradency is a ‘B2B’ player, with brokers being its clients, what’s the reason for brokers to offer RoboX to clients?
First a quick video. Then, Lior and Oz explain more below…
LR: Hi Lior and Oz, and thanks for joining us today. Can you please let our audience know a little more about Tradency’s latest product RoboX.
Lior: It is a clever way to trade with algo trading strategies, Tradency developed a proprietary learning machine which builds a portfolio of strategies according to the most suitable strategies for current market conditions and combined it with client flavors for trading. It is a highly simple to use product which combines the trend of robo advisors and our vast amount of content of algo trading strategies. It is opening a door to any person which holds an investment portfolio to diversify his investment in the FX and CFDs market.
LR: How is RoboX different from Tradency’s existing mirror and algo trading solutions for FX brokers?
Lior: it helps users to have their portfolio updated with best strategies all the time with our unique matching system and our package builder component. It speaks the language of traditional investors from the equity markets and not only the people who understands how to evaluate trading strategies.
LR: Your direct clients are FX brokers. What’s the marketing message to the FX brokerage community for RoboX? If I’m the CEO of a successful MT4 broker, why should I add RoboX?
Oz: It helps the brokers to approach a whole new segment of investors which are not applied currently to the online trading market. Finally the traditional investors would be able to enjoy online trading, the product speaks their language and makes it easy for the sales people to explain the product without the need to teach trading and meaning of each term in the FX and CFD market. We have built the product in such way that any investor from the equity market can understand and start his online trading in minutes. We are bringing the online trading advantages to the users which wouldn’t be able to benefit from the advantages of this market without such a product. Therefore, we believe our brokers would be able to grow their business, approach new clients segments which will also help them to reduce the current high acquisition cost.
LR: You’ve been very successful in Japan with Tradency’s current mirror and algo trading products. Where do you see the focus being with RoboX? What kind of traders do you think will be attracted to RoboX?
Oz: RoboX is a simple to understand product, with motives from the traditional investment markets. Therefore, anyone with an investment portfolio in the equity market would be able to allocate some % of the portfolio to finally be able to enjoy FX and CFDs advantage to be part of his investment strategy. Hence any person with money for investment can take part in RoboX.
LR: We understand that Tradency is in process of having its technology becoming licensed as a fund manager in the EU (something you already have in Japan). Can you explain the need to do that, given that Tradency is a technology provider.
Lior: Our strategy is to be abke to bring the best infrastructure for our brokers to successfully market the products by Tradency. We provide the trading technology, a full marketing support which includes landing pages, marketing materials, sales personal training etc.. in order for our brokers in Europe to use our products we are also taking the regulation for portfolio management which is required in order to introduce clients to our current algo trading products. Now our doors are also opened for any European broker.