Perpetuals’ UpsideOnly trading platform has surpassed 400,000 users across 172 countries, after adding more than 100,000 customers in less than two weeks.
UpsideOnly, the market prediction and trading platform operated by FinTech company Perpetuals.com Ltd (Nasdaq: PDC), has surpassed 400,000 registered users, according to newly released company data.
The platform has attracted users across 172 countries since launching on 19 May, with more than 3.3m trading fills generated to date. Crypto assets and commodities account for almost 90% of total activity.
The Philippines, India, Kenya, Nigeria and the US have the highest concentrations of users, while 85% of customers access the platform exclusively through mobile devices.
Bitcoin is the most traded asset on UpsideOnly, accounting for 26.7% of fills. Gold follows at 23.7%, ahead of Ethereum at 10.4%, Binance Coin at 7.8%, Solana at 7%, XRP at 6.5% and oil at 5.2%. Silver and the euro account for 2.5% and 1.5%, respectively.
Unlike conventional trading platforms, UpsideOnly does not require users to put their own funds at risk when taking positions. Users make virtual predictions across equities, commodities, foreign exchange and crypto markets, with Perpetuals deploying its own capital based on the trading signals generated through the platform.
Those signals are identified using BayesShield, Perpetuals’ proprietary technology, which analyses user activity to identify what the company describes as the strongest trading signals.
Eligible users can share in gains generated from profitable trades, while users do not incur a financial loss when their virtual positions are unsuccessful. Perpetuals has also tested BayesShield through a historical backtest using the same production code deployed on its live platform.
The test replayed approximately 1.07bn historical order fills over a 375-day period and generated a hypothetical, non-compounded return of 380%, with a maximum peak-to-trough drawdown of 27%.
The company’s technology also supports the Perpetual Markets Multilateral Trading Facility (PM MTF), an EU-licensed trading venue. PM MTF operates under regulatory frameworks including MiFID II, MiCA, DORA and EMIR and provides white-label trading infrastructure to partner firms.
The rapid growth of UpsideOnly comes as financial technology companies continue to explore alternative approaches to retail trading and the use of AI and machine learning to generate market signals.
Perpetuals CEO Patrick Gruhn said the growth showed that the platform’s model was “resonating around the globe”.
“People in nearly every country across the world are using UpsideOnly because traders are discovering that there is finally a platform on their side,” he said.
The company said the platform has continued to expand its international user base since its launch, with mobile usage accounting for the vast majority of customer activity.
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