Trading Tool Magick Democratizes FX Algo Trading - abc27 WHTM

Trading Tool Magick Democratizes FX Algo Trading

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COPENHAGEN, Denmark, July 16, 2014 /PRNewswire/ --

New web based trading tool Magick allows FX traders to initiate algorithmic trading strategies in just a few simple steps. This facilitates the deployment of complex computer assisted trading strategies without any need for programming or assistance from third-party software developers.  

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Algorithmic trading has historically been the domain of large financial institutions due to its inherent complexity and the considerable resources required for developing the necessary proprietary software.  

As Mikael Breinholst, CEO of Magick, explains, this is no longer the case: "Our goal with Magick is to dramatically reduce the barriers of entry to algorithmic trading. Our software empowers all FX traders to set up and execute complex algorithmic trading strategies through a user-friendly interface, which abolishes the need for software programming once and for all. We are making powerful trading technology, which was previously only available for institutional players, accessible to a much broader audience."  

The cloud-based trading tool developed by Magick enables users to benefit from computer-assisted market monitoring and strategy execution. Contrary to existing alternatives in the marketplace, Magick does not require programming skills and users can set up trading strategies through a simple, step-by-step process.  

Mikael Breinholst elaborates that risk management is an integral part of the Magick offering: "Not only did we want to develop a tool that enables everyone to perform algo-trading. We also believe that risk-management should be an integrated part in all trading. Among numerous innovative features, we offer traders a tool to avoid taking on disproportionately large market exposure, regardless of the complexity of their trading strategy."

Complimenting most online FX accounts

Taking note of the current FX technologies, Magick is built as an add-on to a wide selection of existing FX trading accounts, which means traders use the trading tool while remaining with their current online broker.

The Magick trading tool runs on a proprietary, complex event processing engine tailored for the financial markets. Magick has been available in a closed beta version since November 2013 and is now available to the public.

About Magick

Founded in January 2013, Magick is the brainchild of CTO and co-founder Anton Hughes and Mikael Breinholst, who are both former employees at Saxo Bank. The company mission is to design, build and operate innovative and simple-to-use trading technology that empowers individual financial traders to optimize their trading results. Driven by the core values of honesty, reliability, integrity and innovation, Magick aims to level the technological playing field between individual traders and global financial institutions.

  • Winner of Best Pitch at Accelerace Investor Day, the leading Scandinavian start-up accelerator.
  • Winner of the IBM Global Entrepreneur Day in Denmark, June 2014.

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