Rakuten Securities, the largest ecommerce company in Japan, has entered into collaboration with Tradency to launch its RoboX service.
Rakuten is the first Japanese forex broker to launch RoboX FX robot trading platform, which will serve company’s retail traders.
“Smart trading machine”
RoboX is a type of automated trading service that is adjusted to traders’ preferences and trading risk, determined by a short questionnaire.
The RoboX products was described as able to create trading packages for both self-directed and institutional traders globally, and each package is automatically updated by Tradency’s unique algorithm.
“As global financial technology evolves, we are also aiming to develop and provide new financial services that utilize artificial intelligence. 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,” said Hiroaki Nagakura, Rakuten Securities Senior Executive Officer and Global Head of FX Business, FX Business Division.
“Being chosen by Rakuten is a sign of trust for us. 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,” said Gil Eyal, Tradency co-founder and president.
How does RoboX system work?
RoboX is Tradency’s latest innovation, a proprietary learning machine which builds a portfolio of strategies according to the most suitable strategies for current market conditions.
Tradency has gathered a significant amount of big data, which led to the development of the company’s RoboX system, which automatically uses analytics and big data collected since 2005 to ensure retail traders remain engaged via continually choosing relevant strategies and lead traders.
The first company to deploy the system was FXDD in May 2016, and other brokers which followed FXDD were Trade 24, Best Leader Global Market NZ Ltd. and Fullerton Markets.