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Kenyan Startup Meta Capital Launches Automated Forex Trading system

A local financial technology firm Meta Capital has launched a three in one financial solution that that makes decisions and trades international currencies on behalf of clients while giving them direct access to competitive fixed deposit and transactional FX rates from local banks.

The Nairobi based Fintech has deployed MetaQuant, SharpFX and MetaFDR in one platform to help clients trade currencies globally, get the best foreign exchange quotes from local banks and fixed deposit rates respectively.

MetaQuant employs artificial intelligence to make decisions and trade for clients with limited time and skills to participate in online foreign exchange trading markets helping them to save hours spent on minute by minute poring over computer screens.

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After hundreds of hours and months of coding, Moi University graduate of Business Management Mr Sila Obegi armed with accounting and programming skills says the new software has helped banks to increase their deposits and is linking traders to international markets.

Minimize costs

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Mr Obegi who is also the managing director says the system help clients minimize costs and maximize returns.

Treasury cabinet secretary Henry Rotich last year said that there are thousands of Kenyan online traders who keenly follow and trade on the international financial markets. Unlike most of the platforms they use, MetaQuant trades on their behalf.

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In transactional Foreign Exchange, the company’s platform SharpFX gives clients direct access to the best exchange rates from a panel of FX providers. It is accessible from all browsers with any computer or device making it easy and convenient to use.

With this platform, clients don’t need to move from bank to bank looking for better exchange rates, instead every time clients wish to transact, they simply go to SharpFX, compare real-time exchange rates from a panel of providers and choose to transact with a provider of their choice hence saving time and money on all their transactions.

Participating banks get to grow their FX volumes due to the direct link to the prospective clients and clients access the service for free. “We do not charge the clients any transaction fees or commissions, we simply give them access to the best exchange rates at no extra cost,” he said.

Best interest rates

In Fixed Deposit Receipts, MetaFDR gives clients direct access to the best interest rates from a panel of FDR providers. It is also accessible from all browsers with any computer or device making it easy and convenient to use.

By simply logging into MetaFDR clients are able to compare real-time interest rates from a panel of banks and choose to deal with one or several banks of their choice. This platform simply helps individuals, businesses and organizations with excess liquidity to create revenue from such liquidity while subsequently helping banks panel grow their deposits.

The connection between clients and banks on the platforms is direct and real-time hence making turnaround time for transacting as short as possible and Meta Capital is never a counter-party when dealing.

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