The launch of the world’s first open trading platform, which allows users to create bespoke online platforms tailored to their demands, is set to change the face of online trading.
Tradable is an integrated App Store concept that allows users to download globally crowd-sourced applications developed by third-party developers, with some apps having been created specifically for the Tradable platform.
The international launch comes at an opportune time for the Middle East following the news last month that foreign exchange and commodity trading are at an all-time high in the region.
Jannick Malling, CEO and co-founder of Tradable, said: “The retail trading market has become much more diversified in recent years and today you don’t just have one type of retail trader.
“We have developed the industry’s first App Store that caters for all types of traders and is a one-stop-shop for the very best trading tools in the market. The platform will constantly evolve as new tools are built by our developer community, ensuring that the changing needs of traders will continue to be met.”
The new platform allows a range of apps, both useful and imperative to traders, to be used side-by-side, including automated trading tools, algorithmic trading strategies, social trading apps, charting tools and market news.
“The tools and strategies that investors use to engage the markets are different: some use automated algorithmic strategies, other prefer social trading networks, some perform their own technical analysis while other rely on signaling services and more ‘old school’ click trading,” said Malling.
At a recent conference in Dubai, Alpari ME DMCC, a global ForEx broker, revealed that trading in the Middle East was at a new peak.
Iskandar Najjar, CEO of Alpari ME DMCC, said: “Since 1996, when retail foreign exchange trading first took off, several brokers, who initially lacked the sufficient tools for investment, developed their own trading platforms tailored specifically to their needs.
“Advanced trading platforms have started to emerge and become more accessible to retail traders through very simple and intuitive trading mechanisms. Trends have shown increases in both the number of traders and the volume of traders in the MENA region.”
Tradable, which took 18 months to develop, now has its first six FSA-regulated brokers onboard. Several financial and technology companies are among the first businesses to have developed apps for the platform.