Isle of Man-licensed Nous Global Markets has released a new financial trading app, two years on from the launch of its free-to-play virtual trading app.
Available on desktop, Android and iOS platforms, TIQL offers a game-like interface for players to take part in market predictions in currencies, indices and commodities.
“After 14 years designing automated trading strategies for the world’s biggest investment banks, I saw an opportunity to reach an audience that had been ignored by the markets,” said Nous founder and CEO Justin Short, a former employee of Bank of America Merrill Lynch, Deutsche Bank and UBS.
“Nous’ goal with the release of TIQL is to provide a trusted, fair way for people to discover and capitalize on their talents – and have fun doing it.”
The company said that after amassing 400,000 players from over 200 countries with its free-play app, it discovered that many of them were unable to exercise their skills and passion on the real markets. It said that existing brokers and other service providers do not cater to the needs of people in “developing” countries, which Nous refers to as the “emerging global middle class.”
TIQL was awarded an OGRA licence in April to operate its new platform by the Isle of Man Gambling Supervision Commission, and has since been testing its services.
Within TIQL, customers can open an account with as little as $5, investing from as little as $0.01 on each trade. It includes free downside protection which means it is impossible to lose more than was invested in a trade.
In the few months of testing since obtaining its licence, TIQL has already seen over $280,000 wagered by early customers from across the world, although Europe, the US and certain other countries are currently restricted due to local regulations.