Will Tradable challenge MetaTrader as the pan-broker trading platform of choice?
FSA-regulated and Indian-owned FX broker Tradenext, itself a relative newcomer to the FX scene, has become the first FX broker to offer its clients the choice of trading with apps on Tradable FX app platform.
Unlike other platforms, where traders are locked into using the trading (and charting and news…) features offered by their broker’s platform(s), Tradable offers an apps-store-like variety of applications which traders can choose from, to customize their trading experience.
The challenge for Tradable, of course, is a chicken-and-egg one — with Tradable dependent on third-party developers creating apps for its platform, those developers will only bother creating those apps if they believe that traders out there will actually use them. But brokers will only bother to add Tradable apps if there are enough apps out there to use…. To date, there are 35 apps up-and-running on the Tradable platform. We expect more apps to launch soon as the platform gains momentum, as well as more FX brokerage firms signing up, like Tradenext did.
For the complete press release please see below:
TRADENEXT PARTNERS WITH AWARD-WINNING PLATFORM
The first Indian-owned FSA-regulated Forex broker Tradenext has entered into a partnership with award-winning open trading platform tradable.
Tradenext will roll out a co-branded platform to its global client base this month and will soon offer it to prospective clients.
The firm will demonstrate the new platform, alongside Tradable, at the London Investor Show on Friday 22 February.
Tradable, which was last year voted the most innovative financial product at the Forex Magnates Summit in London, allows traders to create a completely customized online platform using third party developed apps to fully define their trading experience.
Tradenext is a fast-growing Forex broker, established in the UK in 2010. It provides retail investors with competitive spreads and access to thousands of markets worldwide including FX, commodities and indices.
Mohsin Jameel, CEO of Tradenext said: “The Tradable platform offers a new flavour for the traders in the market. People can build their platforms to suit them with the content of their choice.
“We believe that the concept offers brokers a truly innovative way to work. Brokers can do so much through the platform and choose the apps and systems that work best for them.
“Tradable bridges the traditional and emerging markets and has the potential to really improve the sociability of the industry. When we heard of Tradable in July, we knew it was something that we wanted to be a part of.
Jannick Malling, CEO and co-founder of tradable, said: “Launching this with Tradenext is extremely exciting. Being able to launch with such a committed partner, at the London Investor Show, is obviously something we have been looking forward to for a while.
“Tradenext is a very forward-thinking company and it was clear from the beginning that it was looking to take a differentiated and innovative approach to servicing its clients.”
Tradable introduced its integrated App Store concept where traders can download from an extensive catalogue of globally crowd-sourced apps developed by third-party developers. Many apps have already been created for the platform and these include automated trading tools, algorithmic trading strategies, social trading apps, charting tools, market news and data apps among others. Further app development is ongoing.
For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.