Brokerage group FP Markets has started using TradeMedic, a product made by technology provider hoc-trade.
TradeMedic is somewhat similar to Chasing Returns, a trading analysis tool that was acquired by StoneX, the owner of City Index and FOREX.com.
The product plugs into a brokers trading platform and analyses their activity.
It then provides the end trader with an analysis of their trading activity, with the goal of weeding out certain bad behaviours that have a negative impact on performance.
For example, the tool can look at when a trader is cutting their profits too early, if they taking too much risk, or if they are engaging in ‘revenge trading’.
FP Markets is not the only broker to have adopted the technology. Rival firm YaMarkets is also using it, although it appears to be under a white label offering, which they call YaMarkets AI.
