Tradexapp

Based in New Delhi, India, Tradexapp operates a fintech platform centered on prediction markets, allowing individuals to trade on the outcomes of real-world events. The company was established in 2021 by co-founders Divij Goyal, Indrajeet Roy, and Ankit Shrivastava. The founding team brings together a diverse skill set; Goyal is an engineer from IIT Roorkee with prior entrepreneurial experience at CityMall, Roy is an industrial engineering graduate from IIT Delhi and founder of Hoi Foods, and Shrivastava has over a decade of experience in technology with firms like PwC and JPMC.

The core of Tradexapp's business is an event-based trading exchange that simplifies derivatives by using binary yes/no contracts. This model allows users to invest based on their opinions on a wide array of topics including politics, climate change, economic indicators, and entertainment, rather than on traditional financial instruments. The platform is designed to make trading accessible to a broader audience beyond seasoned investors, particularly targeting retail consumers in India and South Asia who are interested in prediction markets. Revenue is generated from trading fees, although the company also promotes zero-brokerage trading and referral programs. Users can participate with real money or use a demo account to practice their strategies in a risk-free environment.

Tradexapp's product is a mobile and web-based trading application that gives users direct exposure to events. The platform offers trading across various asset classes, including futures and options on the National Stock Exchange of India (NSE), commodities on the Multi Commodity Exchange of India (MCX), and international markets like Comex and US Stocks. A notable feature is the provision of up to 500x leverage, enabling users to control larger positions with smaller initial capital. The company emphasizes security and provides 24/7 customer support, deposit, and withdrawal functionalities. Since its inception, Tradexapp has secured approximately $1.12 million in funding from investors, including a seed round and participation in Y Combinator's Winter 2022 batch.

Keywords: prediction market, event trading, fintech, binary options, derivatives exchange, opinion trading, retail investing, financial gaming, real-money gaming, P2P trading, Indian startup, Y Combinator, zero brokerage, high leverage trading, market speculation, online trading platform, South Asia market, mobile trading, commodity trading, stock options