Do not invest more money than you can afford to lose.
Tradency, an Israeli financial technology company that pioneered the mirror trading concept and offers automatic trading and advised investment platforms, has announced the upcoming launch of RoboX – its new automated trading solution.
According to its website, RoboX is a smart trading machine with a simple, comfortable and user-friendly interface that does not require any prior knowledge of forex trading. Unlike most of the other mirror trading platforms, which offer the option of selecting one or several trading strategies to follow, RoboX offers “smart packages of strategies”. Those are compilations of the millions of strategies and trading signals passing through Tradency’s platforms, based on the predefined rules on trading risk and preferences set by the user. The proprietary algorithm of the company ensures that the strategy is automatically and regularly updated and only the successful strategies remain viable. The algorithm is based on the data about preferred and best performing strategies, instruments, time frames and trader behavior Tradency has accumulated over the years.
RoboX also offers manual controls that allow closing of positions and user approval of trading signals, before their execution.
According to its creators, RoboX has certain advantages over the other mirror trading platforms by preventing the “flocking” of traders to the few successful strategies, which usually leads to problems with liquidity and ultimately the strategies may lose their edge.
RoboX is available for iOS and Android devices, as well as for PC and Mac.
Currently the RoboX platform is being tested by clients of the leading forex brokers FXDD, AlfaTrade and FXCM.
Tradency has been offering B2B software solutions for algorithmic treading for financial institutions. Besides RoboX, it offers Smart Investor – a system for creation of investment portfolios based on information from human investors and automated algorithm-based portfolio management advice.
Other companies, specializing in algorithmic trading platforms are Zulutrade and Darwinex. Some leading forex brokers like FxPro have their own mirror trading platforms, while others are utilizing ready-made solutions like Spotware’s cMirror platform.
