TraducationFX, a white-label service provider for foreign exchange (Forex ) and cryptocurrency brokerages, has announced the release of a new generation of trading signals this Wednesday.
According to the statement released today, the new generation is a proprietary algorithm, which the company has built from scratch, allowing the company to expand the list of markets it covers to include stocks and commodities, in addition to forex and crypto.
Denis Alyanov, CEO of TraducationFX
Source: LinkedIn
Commenting on the announcement, the CEO of TraducationFX, Denis Alyanov said: “Initially, we attempted to create a universal strategy but eventually realised that while it was somewhat profitable, the best performance required teaching the algorithm to work with each specific asset. And we couldn’t just have it tuned once and forget about it, it has to be done every 1-3 months based on backtesting.”
From September 1-17, the new algorithm produced an average profit factor for forex assets of 1.18, with a maximum of 3.88. For stocks, the average profit factor during the same period was 1.69, with a high of 4.56.
In addition to offering its signals service, the Estonia-based white-label service provider also offers several educational and Analytics products, which are aimed at FX and crypto brokers, affiliates, and learning portals.
TraducationFX is actively expanding its product range
So far this year, the company has been actively expanding its product range. Namely, in February of this year, it launched its white label trading signals service. This launch saw the company offer live market summary for more than 15 of the most traded fiat and cryptocurrency pairs. At the time, it planned to expand the list with stocks, commodities, and indices.
The launch of its white-label signals service came two weeks after it added a cryptocurrency calendar to its line of crypto products. The calendar includes upcoming events that are anticipated to affect the crypto markets.
