Finatext UK has launched Pipster, a consumer-friendly currency trading app which the company claims will provide a simpler, smarter and more responsible way of trading for both forex and cryptocurrencies.
Pipster can be downloaded from both the Apple and Android app store and has useful features powered by Robota Intelligence, Finatext’s sentiment analysis technology.
The Bitcoin Social Sentiment Indicator (SSI), in particular, monitors social media posts in near-real time.
The insight provided by the tool claims to give Pipster users indicators of when may be a good moment to both buy or sell, maximising returns by allowing profits to be made in both rising and falling markets.
Pipster also has a virtual ‘Pioneer’ mode, enabling users to practice trading, familiarise themselves with the markets and develop their strategy risk-free using virtual funds before trading any real money.
Finatext says Pipster goes above and beyond new regulations which limit leverage and trade values, allowing even lower entry and trade sizes for new investors. This helps new users to trade without having to invest large values at high-risk. Full transparency with pricing is also a significant element of Pipster’s pledge.
In-app video and tutorial content, alongside user forums, 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 errors and common pitfalls that many conventional investors and market watchers can suffer from.
Rob Brockington, CEO of Finatext UK, said: “With Pipster and our unique Robota Intelligence SSI, Finatext UK, backed by Finatext Japan, believes that the trading industry stands to be changed for the better by creating a more inclusive and integrated crypto and forex market.
“As a company regulated by the FCA, we’re acutely aware of and are committed to the need to instil financial literacy in new users and traders, responsibly. That’s why we are focussing on the app’s virtual mode, community chat forums and video tutorials to familiarise new users with the sector before encouraging them to trade in live mode.
“Our platform is designed with the user in mind. Incorporating new technology and simplification of previously complex features like technical analytics, Pipster opens the market up to a new generation of traders… and gives everyone a better opportunity to do well from forex and crypto trading.
“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.”
Finatext UK also recently announced its partnership with Z.com Trade, which is an affiliated company of GMO CLICK Securities Inc, the provider of Forex which processes around one trillion dollars in trading volume every month.