Looking to trade? What if you could trade the heavy odds of a very unlikely outcome that only a few like you could have predicted? Thanks to the launch of TradeX, this is now possible. A start-up founded by graduates from IIT Roorkee, “TradeX is a trading platform that allows people to trade on their opinions to predict the outcome of an event in the future!”.
TradeX is an exchange on future events, where you can trade on event outcomes that affect your everyday life. They claim to be the world’s most simplified derivative exchange where you can simply trade on yes or no (whether an event will happen or not).
It is easier to learn than learning how to operate a Demat account as that also requires knowledge of the financial markets and resolve. It allows people to trade what they know and what they are interested in predicting. This generates a passive income stream without needing to learn anything new.
Allowing people to trade on what they know rather than studying company financials or worrying about market conditions. We are making opinions investable.TradeX USP
Various Tradable Categories in TradeX
The tradable events include, for example, “Weekly Average of “Daily Retail Price of Potato” : ₹28.41 or more?”, “Eviction in Bigg Boss this week.”, “Thank God to be a hit movie?” among other events in various categories. Users can take a Yes or No position on these questions based on their opinion and knowledge. Users also get to expand their knowledge by learning new topics and seeing what the greater audience thinks.
You can select an event from the various categories of events that on the TradeX app. Selection of events should be made on the basis of the expertise, knowledge, and interest of the Trader. The categories include entertainment, finance, news, sports, etc.
Currently serving the Indian market and soon planning to launch for global markets as they set up their HQ in the USA. Their vision is to help the world capture collective wisdom to make impactful decisions.
Data collected on what people think about different events related to important subjects like politics, economy, and entertainment would be very useful for governments, organisations and market researchers to see the real-time opinions of the masses about any particular topic. The capability of harnessing useful data adds to the potential of this platform.
Founders and Investors
TradeX was founded in 2021 by Divij Goyal and Ankit Shrivastava, graduates of IIT roorkee. They have worked in companies like JPMC, Ziploan, CityMall, Sapient, and Ladbrokes. The Duo has launched many gaming products before finalizing the predictions market as their space. It had to be as trading was a common interest among them.
The company has raised USD 1 Million from a number of marque investors like Maninder Gulati, Anupam Mittal, Rajesh Shawney, Hitesh Chawla, Cem Garih, Justing Mateen, Fethi, Soma Capital.
TradeX has launched an app which can be accessed from the links below.
FAQs on Tradex App
What is TradeX?
TradeX is an information exchange platform for trading on future topics (like stocks, businesses, politics, weather, etc.) by predicting the outcome with a simple Yes or No. Pretty easy right? This is called an information market.
Who founded TradeX?
TradeX was founded in 2021 by Divij Goyal and Ankit Shrivastava, graduates of IIT Roorkee.
What is an Information Market?
An Information Market is an electronic market where the negotiated product is information. This information is traded on its potential outcome of either Yes or No (i.e. Will this event happen?) The price of each side fluctuates in response to trading activity. When a user trades on either side, they own an event contract.
Over to you.
This was all about TradeX if you are looking to start trading you can visit their website and app to learn more. Stay tuned to Pro News Zone’s Startup News Board for more startup-related credible updates.