TradeProofer Creates Execution Tool to Help Brokers with Customer Complaints

After launching its services to retail customers, TradeProofer now has its eyes on the broker market. Being shaped for the broker market is TradeProofer’s transactional cost analysis (TCA) tool, TickRadar.

Initially geared towards retail customers, TickRadar allows customers to connect their MetaTrader 4 accounts or upload individual completed trades made on the other platforms. TickRadar then compares customer price executions versus those of the overall market. Along with using spreads from numerous brokers as a reference price for comparing executions, TradeProofer also crowdsources Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term prices from connected accounts to help calculate a more accurate reflection of how brokers are filling trades at given times. For retail customers, TickRadar displays executions that are out of the market to help them understand if a faulty trade price should be raised with their broker.

For brokers, the service has been evolved to serve as a trading desk support tool. Upon receiving complaints from customers about bad executions, broker support staff are able to upload the details of the trade in question such as time, instrument and buy/sell order. TickRadar then compares that execution to pricing being distributed by the broker and renders a chart with the customer’s execution price and market prices at the time.

In situations where executions are satisfactory, the broker can share the URL of the created pricing chart with the customer or email them the image directly. When a customer is correct in the complaint, TickRadar’s chart makes it easy to understand what proper pricing is to both reimburse customers as well as advance a query of the execution problem with their Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term and data providers.

According to TradeProofer, the firm believes that brokers using TickRadar’s semi-automated solution will be able to reduce the review time associated with handling customer complaints compared to the typical manual processes used by trading and support desks. The product is currently in advanced beta testing with brokers with an expanded roll out planned for February.