Meet Aries backed by TradeStation, a data-driven brokerage designed by and for traders
Aries, a retail-focused brokerage firm built by and for traders, is slated to launch globally this summer.
In light of the company’s rapid growth in popularity, Benzinga spoke with Founder and CEO Reda Falih about the motivations, products and timelines.
About Aries: The company is different from traditional full-service, turnkey brokerage firms.
Founded in 2019, Aries takes on low-cost brokers Webull, Firstrade and Trading212, among others, with its holistic platform to act on actionable market intelligence.
This is according to CEO Reda Falih who founded the brokerage on the heels of a successful trading career in the over-the-counter and overseas markets.
“I made some money and decided to invest it in education and data,” he said during a discussion of his development as a trader. After investing in data, Falih also started publishing information. “If people could pay me for my ideas, I could potentially invest that money in more expensive APIs. “
Later, Falih decided to create a consumable data application where users could follow the flow of money by the biggest player in the market.
“There are difficulties in being an individual trader,” Falih said. “First, you’re not a novice – you understand what you’re doing – and then at the top there are people with billions of dollars that you can’t compete with. “
Thus, starting from the idea that a person’s ability to do better jobs is accompanied by increased access to information, Aries integrated TradeStation to become a data-driven investing and trading application.
“We are not going to have any outages and we are going to be available internationally,” Falih said. “These old brokers got the game… but they let go.”
Primary objective : First, traditional brokers don’t have a direct line of communication with their user base, Falih believes.
“What’s cool about me as a trader and then building an online community is that it made me enjoy wrestling,” he said. “This community has given me a direct connection to the kind of clientele that makes Robinhood this huge empire.”
Common issues facing the retail community include a lack of communication about the stability of the platform, Falih noted, pointing out the GameStop Corp. (NYSE: GME) debacle in which traders rushed to save their positions after many brokers decided to limit trading.
“We live in an age where it’s so easy to open a clubhouse, or a live broadcast, and just talk to your users,” said the CEO. “I have a feeling the users will stick with you as long as you prove to them that ‘Hey, we’re working on these things and your opinion matters. “”
Aries’ second focus is business data and analytics.
With the aggregate information on securities and options, Aries users can quickly decipher where the money is flowing. Additional offerings are a way to filter and track major players, as well as understand why stocks are moving in certain directions.
“For example – let’s say a headline is going up – you click on the headline and just below the chart, that’s exactly why it moves in two or three sentences,” explained Falih. “Seeing the description of money, visually, is something that doesn’t exist right now, and it’s something that I think is going to be a game-changer for retail.”
Innovation perspectives: Aries is concerned with the merging of premium user interface, data and market access.
“Anyone these days can buy an open API [as] there are tons of companies that give you the tools to license with the SEC and become a broker, ”Falih said. “A huge selling point for us is that we have 40 years of experience with TradeStation. Choosing to go for TradeStation gives us access to their 24/7 customer service… and their compensation.
In addition, in the future, Falih seeks to innovate more and develop a closer connection with users.
“The biggest challenge, by far, is the amount of money it takes to break into this space,” the CEO noted during a discussion of his pledge not to sell and become another payments system. to order.
“Our goal now is to make sure that user suggestions are taken into account and that the bugs are all gone by the time we launch in late June, early July,” he said.
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