Swissquote Bank (SWX:SQN), a Swiss online financial and trading service provider, said on Friday it has released a virtual reality trading application that uses virtual reality helmets. For the purpose, the forex bank uses eye-tracking technology provided by Fast Trade, an online platform for trading in SME businesses used by brokers.
With the latest technology innovation, Swissquote Bank has become the first European bank to implement virtual reality solutions.
The technology allows investors to trade in forex pairs, stocks from the Swiss Market Index (SMI), and some main indices with a simple glance. It will enable users to access the financial information that matters most to them in real time, through the medium of VR. Traders receive in-depth information about a certain tradable instrument thanks to Fast Trade’s eye-tracking technology. They can enter the virtual reality platform using the VR helmet and get surrounded by a 360° wall that is fully customizable.
The virtual reality trading app will soon be made available for devices with iPhone and Android operating systems. It will eventually be integrated into Swissquote Bank’s Apple Watch application, as well.
Existing Swissquote Bank clients can use their login details to enter the virtual reality app, as well as to to execute some actions that are available on the bank’s existing app, such as to view the statues of their accounts, execute trades and customize the investment amount. However, trading with the new app is much easier and faster, due to the eye-tracking technology.
“While it is true that the use of VR helmets is still marginal, building our application allows us to also perfect Swissquote’s existing application on other devices, therefore accelerating our own technology evolution,” said Paolo Buzzi, Swissquote Bank CEO. “Being of the forefront of technology is Swissquote’s signature and our new VR Trading application is another illustration of our innovative capacity,” he noted.
Swissquote Bank provides online trading, analysis, and financial and information services. The Swissquote Group is headquartered in Switzerland and holds a bank license issued by the Swiss Financial Market Supervisory Authority (FINMA). The company has more than 200,000 retail and institutional clients serviced through its offices in Dubai, London, Malta and Hong Kong.