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Q Smart Limited - Comments on the Implications of AI for Forex Trading

LUXEMBOURG CITY, LUXEMBOURG / ACCESSWIRE / December 18, 2017 / Artificial intelligence (AI) is the new frontier corporations and industries are storming, counting on it to drive automation, predict outcomes and everything in between. The term usually conjures images of sentient humanoid robots, but that is a very distant reality. However, AI has been around for a while and many businesses are employing it in one way or another. Moreover, an impressive majority of companies have made it a strategic priority and believe it will make them more competitive. The trading community has been at the forefront of adopting innovation and much is being said and written about a future where market transactions are dominated by "intelligent" machines and applications. Of particular interest are developments in the forex trading space and the potential impact of AI on this market, says leading brokerage Q Smart Limited.

The forex market is massive: daily volumes exceed $5 trillion. While the widespread use of algorithmic trading has led to an incredible rise in transaction speeds, such level of activity inevitably comes with challenges related to costs, transparency, and regulatory compliance. Moreover, the complexity and expenses associated with implementing AI solutions have so far kept them within the reach mostly of large banks and insurance companies. However, the day may not be far when intelligent systems go mainstream in the forex industry, Q Smart Limited notes. To begin with, it appears to be ready for this step and has traditionally been an open-minded industry, according to Paul Orford, who runs the institutional sales division of AMB Prime. In an interview for FinanceFeeds, he also pointed out: "If the right technology came along, then it would definitely reduce bureaucracy and increase efficiency as it would be the same movement forward as using a paper-based filing system and then moving to an IT-based solution."

Successful AI-driven forex trades could become a reality as soon as 2020, according to Celent senior research analyst Joséphine de Chazournes. "AI will get better as technology advances and Moore's Law makes processing power cheaper, because the computational power required is huge. It can be profitable now but it can be a hundred times better in the future," David Lopez Onate, founder of Forex Artilect, told Euromoney. In 2016, leading law firm Baker McKenzie published a report based on a survey of executives and experts in the financial services and fintech industries. The majority of respondents said that AI would trigger the most dramatic changes in trading, financial analysis, and IT in the three years ahead. The impact would be felt through improved risk and credit assessment and more effective portfolio management. "In these applications, AI promises not reckless speed or loss of control, but rather an unprecedented depth and breadth of insight, and the ability to act on information and learn from its actions," the report said.

Launched by financial and e-commerce experts, Q Smart Limited is a leading supplier of contracts for difference (CFDs) on currencies, indexes, commodities, and stocks. Active for more than 17 years, the company focuses on trading in financial products on over-the-counter (OTC) and organized stock markets. Its team supports both retail and institutional customers in executing successful transactions and maximizing profitability. With offices in Auckland, Hong Kong, Tel Aviv, Oslo, and Sao Paulo, the broker aims to offer unrivaled execution and strong liquidity backed by sophisticated technological solutions.

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SOURCE: Q Smart Limited

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