There are some people within the financial industry that are saying FinTech startup Call Levels, founded by Singapore-based Daniel Chia and Cynthia Siantar, is going to simplify the way people within the space choose to trade.
It is still early days, but with USD$100,000 in seed funding just one month into its inception and initial angel investors such as former GIC Director of Foreign Exchange, Commodities and Short Term Rates Timothy Teo on board, the simple application is headed towards being a big hit not just in Asia, but on a global level.
The application simplifies the process of trading and investing by allowing users to focus on just one primary need, which is to be alerted when particular assets of theirs hit pre-set price levels.
The app currently offers its users real-time alerts for just over 930 currency pairs, gold, silver, and other metals. Right at the moment users cannot track equities and indices, but Chia has said that these will be introduced onto the platform soon. Additional plans are also to deliver targeted market news to users on the app, based on what assets they are tracking and where their alert levels are sitting.
Chia, an ex-sovereign wealth and hedge fund portfolio manager for the past eight years, created the app after realising that the complexity of existing finance and trading apps put off users who needed them most.
“It’s for part-time investors, businessmen who watch currency moves and even finance professionals themselves,” he said in a statement. “Call Levels keeps things simple for anyone with an interest in the markets by focusing on only doing one thing well [and that is] free, reliable, real-time price alerts.”
From a user experience point of view, even if you are not a seasoned trader – the app consists of a simple clean design and very clearly marked buttons that use ‘press’ and ‘slide’ motions to complete all actions you need it to. Users simply select the asset they wish to track, set the price levels with the responsive slider, and then a push notification is sent when the asset prices hit the desired ‘call level’.
In addition to this, another interesting feature is that when this happens, users can also notify friends, brokers, and bankers via the app at the touch of a button by adding them into their profiles contact list.
Call Levels algorithm has been designed to scan the market every minute, and the team completed the first iteration of the technology within eight weeks of coming up with the idea.
Chia says that the team has noticed that the Call Levels platform is starting to be adopted by both professional and novice investors alike. It is still early days for the startup, but the team have told Startup Daily they are happy with the penetration level so far into the market.
Chia also says that the mobile-first route is the right one for the company, with even late technology adopters turning to mobile in order to assist them with tasks in their everyday lives.
“Investors have become more self-directed, more informed, and more tech-savvy these days,” Chia said. “Even late adopters are now using technology on mobile to help them make investment decisions, but we have to make it as accessible as possible. This app helps to put critical information in everyone’s hands in real time so they can make informed decisions quickly.”