New Prop Trading Firm Tradiac Offers Redemption To Remote Traders

Republished By Plato

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Michael
Buchbinder, a Managing Partner at Swedish online broker Scandinavian Capital
Markets, has launched a new proprietary trading firm, Tradiac, in partnership
with an unnamed ‘exclusive hedge fund’. Tradiac said one of its major goals is to
provide redemption opportunities to remote traders to become successful
traders.

In a
statement announcing its launch, Tradiac decried the industry practice in which many
remote traders are typically instantly disqualified due strict risk
management rules. The platform believes this practice results in premature
trade losses.

With support
from the hedge fund, Tradiac said it is “set to change the landscape of the proprietary trading industry” by offering redemption tests to these types of
traders. It noted that traders that pass the tests are then returned to their
previous successful funding level.

Furthermore, the new company noted that it offers offer successful individual traders with access to
larger amounts of capital. The platform through its partnership with Scandinavian
Captial Markets is also providing traders with access to the MetaTrader and cTrader trading
platforms.

“The
most difficult part for individual traders is securing the capital needed to
trade full-time,” said Buchbinder. “At Tradiac, we aim to remove this
hurdle, giving our traders the opportunity to maximize their potential.”

Buchbinder
brings over 16 years of FX and trading industry experience to the new venture.
However, with the contribution of partners at the hedge fund, Tradiac hopes to ride on over 75 years of
combined industry experience of its executives.

GCEX
Launches Prop Trading Platforms

Meanwhile,
digital prime broker GCEX also recently expanded into the proprietary trading
industry with the launch of two
platforms, XplorSpot and XplorTrader. Both platforms are part of the company’s
XplorDigital trading solutions targeted at brokers, fund managers,
hedge funds and professional traders. While XplorSpot is designed for crypto trading among institutional clients, XplorTrader works for margin forex and contracts for
difference trading.

In a
related industry development, proprietary trading executives across the world
expect interest rate derivatives to be the most
profitable of all asset classes for proprietary trading companies in 2023. They also
see great potential in equity options trading.

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