TradeShare - First Robo-Advising App to Connect Investors across Futures & FX Industry
Los Angeles, CA, July 29, 2015 - SoVesTech, a leading developer of social investment technology, today announced the launch of the broker-agnostic TradeShare mobile app. SoVesTech has partnered with CQG, a leading provider of high-performance trade routing, global market data, and trade routing, who provides market connectivity for the app.
TradeShare is the first Robo-Advising app that allows investors around the world to leverage the expertise of experienced futures and FX traders (Lead Traders). Through TradeShare, investors (Followers) are sent an instant push notification when someone they are connected to (a Lead Trader) places a trade. The alert includes a streaming real-time quote and the ability to place the same trade instantly with the push of a button.
The TradeShare app is immediately available to CQG's FCM partners worldwide. The TradeShare app can connect Lead Traders and Followers from any of the top brokerage and futures/forex firms.
The technology is designed so that a customer of a futures firm on any continent can receive an Actionable Trade Alert on their mobile device in less than one second after a Lead Trader at a different firm on a different continent places their trade. The Follower can then choose to ignore, modify, or place the trade.
The TradeShare app provides the following functionality:
- Search for futures & FX Lead Traders
- Follow a chosen Lead Trader
- Instantly trade off of an Actionable Trade Alert
- Become a Lead Trader
- Existing CQG users can view account information and make trades
Who can be a Lead Trader?
- Professional trader
- Friend or family member
- Commodities Trading Advisor (CTA)
- Newsletter/Trading Service
- Trusted Advisor
"SoVesTech is a natural partner for us," said Mike Glista, CQG's Director of Trade Routing. "We are always looking to provide the latest in cutting-edge technology to our FCM and API partners. TradeShare connects our global user base, as well as other futures and FX traders. TradeShare has the potential to impact the futures and FX markets significantly."
"We are very excited to be teaming up with CQG on the TradeShare app," said Joseph Fox, CEO of SoVesTech, Inc. "I for one have traded millions of shares of stock and equity option contracts. But I have never traded a futures or FX contract such as Gold, Oil or the U.S. Dollar. TradeShare opens up the futures and FX markets to the majority of Americans who have never invested outside of the stock and options markets," continued Fox. "With the capability to bring millions of futures and forex investors off the sidelines, TradeShare has the potential to democratize the markets worldwide."
Over the next few months, SoVesTech and CQG will be expanding TradeShare's capabilities to allow customers to participate in the actual trade of a Lead Trader. This technology is similar to what is currently available on DittoTrade.com for equities and options trading.
"With the advent of TradeShare, we are inserting our 'Ditto Molecule' into the trading genome of the futures and FX markets, continuing our push to interconnect investors across many different firms and across all asset classes," concluded Fox.
About SoVesTech:
SoVesTech is an innovative financial technology company whose proprietary platforms uniquely enable users to leverage the experience and abilities of others in real time. SoVesTech's technology scales across a wide range of investors, as well as partners looking for growth in client assets, trades and revenue. SoVesTech is the parent company of Ditto Trade, Inc., a next generation robo-investing firm and the only online broker to allow individuals to participate in the actual trades of others. Since the Company's launch in 2010, customers have Ditto'ed nearly one million trades of friends, family members, professional traders, Investment Advisors, alert/trading services and newsletters. Ditto Trade is a member of FINRA and SIPC and is a licensed broker-dealer in all 50 states.