“Over-Gamification Attracts the Wrong Traders,” Swiset COO Warns on Prop Trading ⋅ Crypto World Echo
Prop trading continues to develop as firms look to improvetrader performance, adopt new technologies, and adapt to changing regionaldynamics. At iFX EXPO International 2025, Finance Magnates’ Jeff Pattersoninterviewed Andres Jimenez, Co-Founder and COO of Swiset, about the firm’s recentmoves in the proprietary trading space.
The conversation covered Swiset’s technology acquisition,the growing impact of futures and algorithmic trading, and the persistence oftraders in Latin America.
Technology Acquisition and Shift in Focus
Swiset made a key strategic move in early 2024 by acquiringproprietary trading technology. According to Jimenez, this marked a change fromfocusing on dashboards and CRM tools to supporting the end users—traders.
“The basic is the end users—the traders. What are theydoing? How are they trading? Are we giving them the right tools to tradebetter?” Jimenez said.
Swiset now prioritizes analytics powered by AI, aiming tosupport trader development rather than just increasing user numbers. Jimenezsaid many in the industry focus too much on acquiring new customers and notenough on helping traders improve.
Algorithmic Trading and Evaluation Challenges
Jimenez raised concerns about the rise of algorithmicstrategies in the prop trading world. He noted that while some algos aredesigned to help traders succeed, others manipulate evaluation processes.
“Some algos help traders pass challenges, others exploitprop firms. Neither is good for traders or the industry,” he said.
He also addressed the trend in Latin America of usingshort-term algorithms to pass challenges that do not hold up in live trading.
“You pass the challenge, then lose the account. That’s notthe idea—algos should improve traders, not ruin careers.”
You may find it interesting at FinanceMagnates.com: “TopTraders Master One Instrument”: Lessons from BK Trader’s Co-Founder.
Latin America’s Trader Mindset
Despite a global failure rate of around 80% in prop tradingchallenges, Jimenez said Latin American traders continue to try. He connectedthis persistence to both economic limitations and cultural determination.
“In Latam, you don’t deposit $5,000 easily. Someone mighttry a $100 challenge three times—but they won’t give up.”
He observed that many traders eventually move on to depositdirectly with brokers after several challenge attempts, motivated by thepotential of larger profits.
Differences Between Brokers and Prop Firms
Jimenez said brokers offer strong execution capabilities butoften lack tools that help traders grow, such as journals and analytics. Hepositioned Swiset as a firm helping to close this gap.
On brokers entering the prop trading space and vice versa,he stressed the need for effective risk management. He believes AI can play arole in identifying committed traders.
“AI can help props filter serious traders from those justchasing payouts.”
Caution on Gamification
Jimenez also took part in a panel on gamification. Heexpressed concerns about applying the concept without considering the businessmodel and target audience.
“A prop targeting leaderboard-driven traders attracts adifferent crowd than one offering $1M funding. Align your strategy with yourgoals.”
He compared competitive dynamics in institutional trading togamified environments in retail but warned against going too far. “Over-gamificationrisks attracting the wrong traders.”
Final Remarks on Strategy
Jimenez ended the conversation by emphasizing that strategymust guide every part of the business.
“It’s not just marketing or tech—align everything. Thestrategy is the brand, and the brand is the strategy.”
This article was written by Tareq Sikder at www.financemagnates.com.
