Retail Forex broker RoboForex has implemented changes to the rules about the types of accounts that traders and investors using social trading network CopyFX can open.
The changes have been in force since November 3, 2015 – from that day, traders, that is, those whose trades are copied, cannot use cent accounts. These will be available to investors only.
CopyFX Investors are able to continue trading on both cent and standard accounts.
Cent accounts help beginners to test the system or choose the best trading strategy while keeping risks at a minimum level. However, for experienced investors, who are more interested in standard forex accounts, the company will still offer this opportunity.
From now on, CopyFX Traders will be able to use Standard and ECN accounts only. The latter are typically used by traders with significant expertise and knowledge in the FX market.
RoboForex launched CopyFX in 2013 and has since implemented numerous improvements to the platform, including the addition of numerous languages. And in August this year, the broker added one more copying mode – “Proportional”.
You can view the announcement from RoboForex on the latest changes to CopyFX by clicking here.