PsyQuation is a new is a new Forex analytics platform built to provide traders with actionable insights by connecting directly to their MT4 account. They believe that their unique set of tools and analysis will allow traders to better “discover trading strategies that work.” Today we will take a close look at this new platform and let you know if it’s going to be able to compete with the big boys, FX Blue and Myfxbook.
The PsyQuation Pty Ltd group is owned by Gerling & Company Pty Limited, licensed by the Australian Securities & Investments Commission (ASIC). They are located at Level 10, 90 Arthur St, North Sydney, NSW 2060, Australia and also have a European office at 3 Dorogozytska Str (Unit.City) Kyiv, 04119, Ukraine. In order to get in touch with support, traders can email email@example.com.
Founded in 2016, the PsyQuation service “is powered by scientific research, tested on 140,000+ accounts, and a decade+ trading for a living.” The CEO the company is Michael Berman, Ph.D., and the CTO is Vladimir Krouglov, Ph.D.. Both have sufficient education, and feel that they are more than capable of unlocking a trader’s trading talent thanks to their AI powered algorithm that evaluates many aspects of their trading approach.
The service currently uses data insights from over 140,000 accounts, and over 51 million trades. They have incubated 96 Pro traders, and allocated over A$4 million of trading capital.
There are 4 different features that the PsyQuation service provides to help improve your trading.
- Near real-time equity curve – this will help you monitor and control your risk better.
- Psyquation score – this is a specific number the determines your skill level which you can compare against other traders.
- Built-in customizable alerts – this is real-time data to help you with your ongoing trades.
- Trading tools – the service comes with a handful of different tools and other data that is usually reserved for institutional traders only.
All of these aspects are very similar to what is provided by Myfxbook or FX Blue, except for the PQ Score.
Capital Allocation Program
The other purpose of the PsyQuation service, is to give traders access to additional trading capital. Partnered with the AxiTrader broker, and the Axiselect allocation program, traders have the ability to secure funds based on meeting high performance expectations. This program is very similar to Earn2Trade, which we updated our review on just a few days ago.
Traders have to meet certain program requirements, and if they do they will be able to secure additional trading capital. The program requirements are not easy to achieve, especially considering the fact that traders will automatically be dropped if they have a 10% drawdown in any calendar month.
If you are able to trade at this high level, and sustain a very high PQ score, then you will be able to access a guaranteed A$350,000 to trade with.
Copy Trading Platform
The 3rd leg of the PsyQuation service is a copy trading platform that is coming soon. They believe that because of their PQ score, and trading talent filter that they will be able to provide a copy trading service that is unrivaled in the marketplace.
In order to access the service, traders can sign up for free. However, if they want the premium access, they have to open an account with the AxiTrader broker.
It really does seem like the purpose of this service is to help, but also draw clients to AxiTrader simultaneously.
The PsyQuation service seems very interesting, and considering it’s free, we see no reason why you can’t test it out to see your current PQ score. You might be able to learn something from their tools, and if you don’t you can always just go back to using Myfxbook like the majority of traders in the Forex marketplace. We see nothing wrong with the program, and while it is a clear advertisement for AxiTrader, that’s fine as well since they are offering free services.
If you have anything else you like to add to the review, please leave your questions and remarks below the article now.
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PsyQuation is a Forex analytics platform built to help traders better understand Forex strategies.
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