After a six-month trial period, Germany-based startup SwipeStox has launched live trading for indices, commodities, forex and CFDs. London-based One Financial Markets (OFM) will pilot as the startup’s live trading partner.
SwipeStox, which is partnered with the seven largest brokerages in the United Kingdom, allows users to synchronize their existing accounts or open a new account directly within the app, which is available on iOS and Android. The Tinder-like user-interface allows users to swipe through live trades executed by professional traders. Users can either use the trading information to make their own decisions or simply copy the trade.
In a press release Benjamin Bilski, SwipeStox founder and CEO, noted the significance that SwipeStox isn’t a closed trading system. Rather, the company’s API enables any broker or bank to connect to the platform. Bilski says, “After one-and-a-half years, two million lines of code and with a team of thirty, we have reached our first milestone: live trading.”
SwipeStox, a Best of Show award winner at FinovateEurope 2016, will announce further partnerships with banks and brokerages in the coming weeks. The company also hinted at pending features, such as an interactive news feed that lets users make real-time trades directly from news articles.