Company History
During 1975 Derek Bester decided to take R10,000 and attempt his hand at investing on the stock market for the first time. He lost everything within a couple of months.
This first failed attempt laid the foundation to explore for better ways to invest on the stock market. With his engineering background Derek turned towards charting as a potential tool to make better investment decisions.
Unfortunately computers were still way to expensive, and Derek meticulously plotted the charts of securities by hand using the daily prices published in the local newspaper.
Again Derek ventured with R15,000 towards the stock market, but this time much more cautiously and armed with his hand-plotted charts.
Derek's new charting strategies turned out to be successful, and he held his ground with his investments.
By now computers became much more affordable, and Derek bought his first personal computer (PC) together with some technical analysis software that was available at the time.
Unfortunately JSE stock market data was not available for download (the Internet did not exist yet), and Derek commandeered his wife to help capture the daily JSE security prices manually from the local newspaper.
During the past 16 years many more stock market analysis software packages became available, and Derek bought and tried almost every one. Eventually he settled on 5 packages that he found to be useful in optimizing his investment returns.
Derek saw it fitting to invest in a software development kit (SDK) and partner with a software developer to implement his ideas and models as software.
Realizing that investing on the stock exchange is a gateway towards financial freedom, Derek fine-tuned his investment models and strategies to the point where he was getting very respectable returns on his investments.
We saw an opportunity to combine the best of existing programs into a single package, while improving on the shortcomings.
After two years of grinding out our first product, TradeFX was finally ready, and we signed up our first clients.
At this point we believed that our software needed its own identity with which our clients can better identify.
After considering our brand image we felt that TradeFX was a misleading name, since it might be mistaken for the exclusive trading of Foreign eXchange, while the software is designed for the analysis of stock markets.
We decided on the name Algomodel which is a combination of the words "algorithms" and "models".
2021 marks the year of Algomodel entering the mobile space. With the release of Algomodel Signals, the Algomodel platform extended its reach beyond market analysis software, by providing our users with a rich connected experience.
We believe that artificial intelligence will play a major role in making investment decisions in the future.
Our vision is focused on the research and development of artificial intelligent solutions for our clients to support them with their investment success.