Finatext invests GBP2m in new UK-based currency trading platform
Japanese trading brokerage Finatext Group has GBP2 million in the development of a UK-based currency-trading trading platform.
Pipster, an FCA-regulated platform, is aiming to provide a simpler, more responsible way of trading while improving financial literacy for those who have no experience. Pipster launched with a virtual ‘Pioneer’ mode, enabling users to practice trading and familiarise themselves with the market and their strategy using virtual funds risk free, before committing any real money.
Pipster employs Finatext UK’s live Social Sentiment Indicator (SSI) powered by Robota Intelligence, which monitors social media posts in near-real time and can identify upcoming trends.
The insight provided by the tool can give users an idea when to both buy and sell, maximising returns by allowing profits to be made in both rising and falling markets.
In addition, on-platform video and tutorial content, alongside forums and chats, will enable users to discuss strategies and trends on a peer-to-peer basis, opening up what has traditionally been a very closed community. It is hoped that this open forum will promote healthy discussion and support networks between traders, mitigating the stress that many conventional traders suffer from.
All users will also have access to curated financial and business news, can see summarised indicators – both technical and fundamental – and have access to learning materials if they want to better understand the concepts and basics of trading.
Pipster is designed to supplement an income as part of an investment portfolio, rather than replace a full-time job. Most trades are quick, short-term activities completed within a few hours or a day, as opposed to longer term strategies that require investment to be locked up for months or years.
Rob Brockington, CEO of Finatext UK, says: “With Pipster and our unique social sentiment indicator, we believe that the trading industry stands to be changed for the better by creating a simpler and smarter trading platform. Thanks to the team’s experience of establishment brokerages, we’re acutely aware of the need to instil financial literacy in new users and traders, that’s why we are focussing on the platform’s virtual mode, community chat forums and video tutorials to familiarise new users with the sector before letting them trade in live mode.”
“Our platform is designed with the user in mind. Powered by the SSI and incorporating new technology and simplification of previously complex features like technical analytics, we can open the doors to this new generation of traders. With a solid understanding of the underlying market and trading principles, mixed with an intuitive platform and simplified data, everyone has the opportunity to win.”
“With Pipster, we’re encouraging a new generation of traders who are open to sharing new ideas and strategies. This industry has already changed beyond recognition in just the last couple of years. These are exciting times, and Pipster is the next phase of this change.”