A follow-up to LeapRate’s earlier report about the developments around mobile social trading app SwipeStox…
Frankfurt-based company Swipestox GmbH starts live trading of financial instruments with their application SwipeStox. The start-up aims to inspire its users to share their successes and actively participate in their community.
Following a six-month trial phase, SwipeStox has commenced live trading of indices, commodities, forex and CFDs. A core feature of the app is the sharing of and active exchange on successful investments and positions with other users. SwipeStox enables its users to publish their own trades as well as copy those published by others in real time. Each time a trade is copied, SwipeStox pays a bonus directly to the user who published it. The app also offers a variety of social functions such as an interactive leader board, news, a chatroom and a “trader-radar”.
The London-based, FCA-regulated forex broker One Financial Markets (OFM) is the first live trading partner on SwipeStox. Users may synchronize their existing account with OFM in real time, or open a new account directly via the app.
Benjamin Bilski, founder and CEO of Swipestox GmbH, says:
“Today, we are globally the most advanced platform for trading with stock market instruments. After one-and-a-half years, two million lines of code and with a team of thirty, we have reached our first milestone: live trading.”
“It is important to point out that SwipeStox is not merely a simple frontend displaying a closed trading system on a mobile device. The technological edge stems mainly from our proprietary API, which we developed in-house. It enables us, and only us, to connect any broker or bank to the platform within hours. We are actually specializing in normalizing real-time data in order to enable users to trade for themselves, or with others, barrier free, and to let them publish or copy trades from each other.”
SwipeStox will be announcing further brokers and banks to be connected to the platform in the weeks to come. Also, new features are in the making, including an interactive newsfeed enabling users to trade directly “from the news” in real time.
The app is available for smartphones and tablets on Android and iOS.