Tradency launches new algo trading product RoboX
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?