Rakuten Securities, one of Japan’s largest forex brokerages, said it has teamed up with Tradency to make available its RoboX automated trader to its retail traders.
Thus Rakuten Securities would become the first Japanese forex broker to do so, but it will also offer the service to its global financial services that include the forex brokerages Rakuten Securities Hong Kong and Rakuten Securities Australia.
“As global financial technology 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 and Global Head of FX Business, FX Business Division. “By providing our customers with Tradency’s robo-advisor service RoboX, we believe it will be the best opportunity for 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.”
Tokyo-based Rakuten Securities is a multi-asset broker, which product portfolio includes diverse trading instruments, including more than 40 currency pairs, options, futures, commodities, stocks and bonds. It is part of Japanese conglomerate Rakuten Inc. The holding company’s subsidiaries are active in a number of intenet-based businesses, including finance, retail e-commerce, travel, e-money, and internet banking.
Recently the brokerage obtained a Malaysian Capital Markets Services License.
RoboX was launched by Tradency last spring. Dubbed “a smart trading machine”, RoboX is a type of automated trading service that adapts to the needs, preferences and trading risk of the individual trader based on a questionnaire filled in upon sign up. The service offers “smart packages of strategies” compiled of the millions of strategies and trading signals passing through Tradency’s trading platform. The company’s proprietary algorithm is based on the data about preferred and best performing strategies, instruments, time frames and trader behavior Tradency has accumulated over the years.