Global Profit Technologies, Inc. Announces Creation Of World's First Fully Automated Forex Trading Platform And Exclusive Licensing/Strategic Partnership With Automata FX
SCOTTSDALE, Ariz., Oct. 22, 2015 /PRNewswire/ -- Global Profit Technologies, Inc., (OTC: GLPT), developer of "4X-DAT™", a unique, sophisticated and fully automated, algorithmic, Forex trading software, announced today that the company has developed what the company believes is the World's first fully automated, algorithmic-driven trading platform. The platform has been developed using much of the same trading logic developed for the 4X-DAT™, however, rather than operate as a software "plug-in" to trade a client's brokerage account through other third party trading platforms, the new platform will now be able to execute trades on its own. GLPT has selected Automata FX, Ltd. as its brokerage of choice to offer the new platform and the two companies have formed a strategic partnership. GLPT cites recent fluctuations in margin policies implemented by primarily U.S. based Forex brokers as a major factor in its decision to develop the partnership with Automata FX, Ltd., an offshore brokerage. GLPT sought the partnership, rather than simply integrating with the brokerage, as a means to develop assurances that its proprietary trading algorithms would operate within a uniform and predictable trading environment, and notes other advantages to the structure of this deal.
"We have a tremendous opportunity here, to advance the interests of both companies," said Joseph Nemeth, CEO & Chief Software Architect of Global Profit Technologies. "Automata FX will now have a unique offering through an exclusive licensing of our automated platform, which will position it as a very attractive option for an ever growing market of Forex traders. GLPT will benefit by receiving technology fees, while at the same time knowing that we are receiving the best possible trade execution for users of our technology," Nemeth added.
With this partnership, GLPT will expand its presence in the retail Forex market by operating both the current B2C (Business to Consumer) component, which offers the 4X-DAT™ software as a third party "plug-in" for traders to purchase and use with the company's current brokerage options, as well as the new B2B (Business to Business) operation, by licensing the new platform to Automata FX.
"This partnership allows us to finally implement a key component of our original business model, which was to offer our technology with no upfront charges," said James Foura, Vice President of Communications for GLPT. "Instead, we will receive two pips on every mini-lot traded, round trip, or approximately $2.00 per $10,000 trade. That's a more progressive and equitable pricing model because pricing is based on trade sizes rather than a fixed upfront software license fee. This will eliminate the cost barrier to entry for a number of traders already interested in our trade automation software, not to mention the untold thousands of traders seeking an inexpensive trade automation solution. We anticipate that this pricing model will allow us to expand the use of the software much more rapidly," Foura concluded.
GLPT encourages those traders who may still be interested in buying a software license to take a look at Automata FX first, but notes that Automata FX is a foreign brokerage and is not permitted to accept U.S. clients. U.S. clients will still be able to use the 4X-DAT software as an automated, algorithmic trading plug-in to be used with the brokers with whom the software is currently integrated.
ABOUT GLOBAL PROFIT TECHNOLOGIES, INC.: Global Profit Technologies, Inc., a Publicly traded company, has developed one of the most sophisticated, fully automated algorithmic Foreign currency trading software, called the 4X-DAT™. It is an intelligent, sophisticated, yet easy-to-use software solution that automatically trades the Forex markets. The 4X-DAT™ can simultaneously trade an unlimited number of currency pairs, manage and monitor an unlimited number of trades in an unlimited number of independent trading strategies, which can be pre-set within the software. It provides money management on all trades by closing them at a pre-determined profit, as well as open and close trades in both directions with an unprecedented degree of accuracy. It does this automatically, non-stop, 24 hours a day, days, weeks, even months on end - all without the need for human input, after the initial trading set-up. The software is available either for sale as a third-party plug-in software or as a platform through Automata FX with no upfront charges.
GLPT invested $17 million and more than nine years in its development of the 4X-DAT™ software, representing 80,000 lines of code, 50,000 man hours of programming & coding and 200,000 hours of testing and live trading. Learn more at: www.4xdat.com.
ABOUT AUTOMATA FX, LTD.: Automata FX, Ltd., is a fully automated global electronic broker focused on providing retail traders institutional level execution with Straight Through Processing (STP) and institutional liquidity, with direct access to interbank forex quotes on each and every trade. Automata FX offers full trade execution through its exclusive use of the its automated platform, powered by the 4X-DAT™ technology. Automata FX allows traders to access the Forex markets through its Managed Account offering as well as free PAMM Accounts and Independent Automated Trading Accounts with free downloadable strategies. Learn more at www.automatafx.com.
Contact: Inquiries should be directed to James Foura, Vice President - Communications, at [email protected]
SOURCE Global Profit Technologies, Inc.
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