TakeProfit, a community-driven stock trading platform, aims to make retail trading easier

One of the areas hardest hit by COVID-19 has been the currency market. However, despite the lockdown, several innovations have helped the industry stay afloat and thrive amid the global downturn. From cloud computing to new trading aid software, the forex market has taken advantage of the internet to revolutionize trading. Another frontier in the currency market has come from the cryptocurrency revolution.

According to a NASDAQ trend perspective, over the past two years retail has been significantly boosted by the pandemic, combined with the spread of the commission-free brokerage model. The latter had become an industry standard for app-based trading platforms since December 2019.

Merging community and trading principles, TakeProfit, a community-driven trading platform, today announced that it has raised $3 million in a funding round. Alex Shulzhenko, Founder and CEO of TakeProfit, told VentureBeat that this funding will help TakeProfit in its mission to create an intuitive tool for self-directed traders and investors, combining a trading terminal with user-generated content. A new breed of traders

A study by the Financial Industry Regulatory Authority (FINRA) Investor's Education Foundation at the University of Chicago found that many new pandemic-era retail investors are different from average traders in previous years. They are younger, more racially diverse and have lower incomes. Innovation has facilitated access to markets for a wider and more varied audience.

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A Credit Suisse estimate found that amateur traders account for a third of all trading activity in the US stock market. As individuals from different backgrounds flock to the market, Shulzhenko noted that the need for an intuitive, powerful and scalable trading platform arises because when searching for information, new investors face challenges. sell-side analytics, misleading online advertisements and pressured sales. tactics.

There is another peculiarity of the generation of traders brought up during the pandemic: although lacking in the educational aspect, they make up for it with passion. As Shulzhenko puts it, "TakeProfit is a collaborative platform that allows its users to share their opinions, trading experiences, and analytical results. TakeProfit plans to offer creators a few monetization opportunities, including private streams and donations. ."

With this product, experienced investors and swing traders will get better functionality and customization to suit their needs, allowing beginners to get a head start in their trading experiences.

New technology for traders of all skill levels

Screenshot of TakeP...