We talked to the founders of Trality, a Vienna-based trading bot creation platform aimed at bringing the benefits of automated trading bots to everyone and anyone. CEO Moritz Putzhammer, and CTO Christopher Helf are going to tell us what brought them to this, what they hope to achieve and how they are faring during the troublesome times of the pandemic.
Tell us, how did Trality come to be?
Christopher Helf: With Moritz being a savvy businessman and myself being both fascinated and constantly surrounded by technology, we know that everything will be automated in the future. We already see automation tools creeping into our lives in small ways, be that your alarm clock playing a Spotify playlist in the morning or more significant things like applying for a loan with an algorithm deciding if you get it.
The investment world is no different, and the smartest, richest, and most relevant institutions (like hedge funds) have already started harnessing the power of algorithmic trading to turn significantly more profit than the average, manual investor who actually usually loses.
So Moritz and I were in university, and we sat there thinking about the financial world and asked one another why trading bots are only accessible to big banks and institutions. We did some research, and it was worse than we thought! 75% of private traders like you and me were losing money when they tried to compete against machines that are superior traders in every way.
This discussion went on into the night and eventually morphed into an idea that became Trality.
What do you want to achieve?
Moritz Putzhammer: Slowly but surely, we will become the platform for everyone to create trading bots or automate their already-existing strategy. We also want to be a place for those who want to benefit from this technology without creating bots at all, a place to rent bots out.
This is what drives us. Traders of all experience levels and interests can join us, and we attract the best bot creators by offering the most advanced tools for bot creation in one ecosystem.
What is the ultimate vision?
Moritz Putzhammer: The power and potential of algorithmic trading has been selfishly hoarded by the rich gatekeepers at the top of the investing food chain. The lack of automated solutions for everyday investors means that they will continue lining their pockets with millions of dollars while the everyday investors keep struggling to turn a profit.
It’s our job to change that. Through Trality, everyone who needs it will have access to advanced, intricate, and highly powerful trading bots. Be that by creating bots through our suite of flexible tools for professionals and beginners – or by renting cutting-edge bots from those creators.
It doesn’t matter who you are; every single person will be able to have bots automatically manage their investments across asset classes and platforms, all in one place.
How has the Coronavirus pandemic affected your business?
Christopher Helf: Well, it seems that we decided to start with Trality at a pretty awkward time, to say the least. Nobody could have anticipated such a world-shatteringly cataclysmic even as this a couple of years ago, but we’re very happy to say that this time has not taken much of a toll on us from a business perspective. On the contrary, actually, we were able to receive some extra government funding to help us take off during the time.
Moritz Putzhammer: Yeah, I have to reinforce what Christopher is saying here. Not only were we able to receive some government funding, but we pride ourselves on being able to work effectively from home. Even though we have our offices in Vienna, our team is actually fairly decentralized and has been from the beginning meaning that the switch to the home office was a smooth one.
On top of that, our operations don’t need anybody to be physically in the office really. We have been blessed to be able to go into the pandemic and come out the other side strong and ready to revolutionize the way people invest.
We are still excited to get back to normality soon, though. We have a close team that works and bonds together greatly.
How has growth been in the past few months?
Moritz Putzhammer: That’s a great question, and we’re happy to say it has been more than healthy. Of course, for a company like ours that has such a tight niche – there is a constant worry that users will come in too slowly to keep up with growth (or that they won’t come at all). We were delighted to see a steady user growth in the very beginnings of Trality, which led to a solid, loyal user base that helped us create the platform we have today during the beta phase. In December 2020, we entered into a Bitcoin bull run which stimulated the markets greatly and as a byproduct of that – we began to enjoy a lot of new users signing up to Trality. Of course, that led to its own struggles. We were simply not prepared for so much interest in the platform, so we ramped up stabilization efforts all around to ensure everyone gets the best service possible.
Christopher Helf: Everything! We’re just getting started! What we have now is the core of our product, just the bare inner workings, so the opportunities to expand are many. We just need to consistently focus on the mission for guidance. If we are asking ourselves, ‘Does this aid in our goal of giving everyone who wants it the opportunity to benefit from automated trading bots?” and the answer is ‘Yes, then we know we are on the right track.
Moritz Putzhammer: As Chris just mentioned, Trality is only getting started, and we have a long way to go to achieve our goals. We have a wonderful community of dedicated users already that have helped us lay the foundations of a great business – we’re going to take that and–along with our brilliant team–continue building up until our vision is no longer a vision but a reality. What happens after that? Well, that remains to be seen.
Where can people find you?
You can sign up for free at trality.com