OhMyGeorge, a Forex trading app, has gained a tremendous amount of traction since it launched back in 2016. With almost 200,000 downloads worldwide it has helped a lot of new traders navigate the complex financial markets. The app is the brain child of Lucien Tavano, a developer from Paris, France. When Lucien was entering the Financial markets for the first time, he could not find a trading related app that fit what he was looking for. Lucien was in search of a trading platform that was easy to learn on and would provide him with a pleasant trading experience. He didn’t care about the ability to select from hundreds of Forex trading pairs or indicators, or the fastest execution. He just wanted to first learn the basics and then advance from there, but that wasn’t an option. As he puts it, “I wanted to learn how to drive, and the only cars available to learn on were formula one race cars.”
So, he did what any tech-savvy person would do, he built the trading platform himself (with the help of some amazing friends). He wanted a platform that was simple enough that it allowed him to experience Forex trading with just a couple finger taps on the screen, safe enough that he could trade with real money when he was ready, and smart enough that as his trading knowledge increased it would always meet his needs. And lastly, a platform that was fun to learn on, because all the traditional platforms at the time felt serious and had a pretentious feel.
Since the initial launch of the app it has evolved into a full gamification trading platform where new traders learn to trade in an easy and fun environment. The feedback from their early users taught them that some Forex concepts are difficult to understand. The “spread” for example is one of those trading concepts that can be difficult for beginner Forex traders to understand. So, OhMyGeorge took that concept out for new users of the app and only re-introduces it later on when the trader becomes more knowledgeable. This type of feedback led OhMyGeorge to build a gamification system where users earn experience points in order to level up and unlock new features, such as financial instruments and charting tools.
Probably one of the most complex concepts for a new trader to grasp is proper risk management. One of OhMyGeorge’s tag lines is “No Math”. Because calculating risk and deciding where to place stop losses and take profits is not an easy concept for new traders to grasp, the OhMyGeorge app handles all the calculations. For instance, to open a new position, users only have to select how much they want to risk in dollar terms, I.E. $10 per trade. The app then automatically selects the trade size, the leverage, and sets the stop loss. The idea is to remove most of the technical considerations for beginner traders so that they can purely focus on managing their emotions and risk. One of Lucien’s favorite quotes that sums this sentiment up perfectly is from Benjamin Graham. It reads, “Investing isn’t about beating others at their game, it’s about controlling yourself at your own game.”
With the new ESMA rule, which requires European brokers to display client profitability directly on their website apps like this have grown in popularity. All European brokers are trying to reduce the number of clients that lose money, with some brokers using low numbers for marketing purposes. After a lot of consideration OhMyGeorge elected to work with AxiTrader in order to help improve the profitability of their users. “AxiTrader was a natural partnership for OhMyGeorge, they offer many tools for beginners that we are able to integrate into the trading app”, said Lucien.
To kick off this new partnership AxiTrader has sponsored a demo trading competition where the winner will receive a live $500 trading account.
To learn more about the contest visit: https://ohmygeorge.com/trading-contest
Major News Outlet also published a good write up on this.
https://www.leaprate.com/exclusive/ohmygeorge-trading-app-teams-up-with-retail-fx-broker-axitrader/