Retail FX and CFD broker FXCM Group, LLC, has just announced expanding its FX and CFD trading offering with the addition of social and copy trading capabilities for its customers.
Social and copy trading have developed as a popular approach to investing in the retail trading market. With this addition to FXCM’s offering, its customers can copy a high-performing Trader’s signals and strategies, eliminating the need to speculate themselves and follow more experienced market participants.
Brendan Callan, CEO of FXCM, said:
Brendan Callan Source: LinkedIn
When beginning a trading career, it can often seem overwhelming to create an initial strategy. Market volatility, trading products and risk appetite are all new elements for customers to consider when exploring profit-making strategies.
Social trading gives customers a great choice, especially when beginning to trade. By following an independent Trader, customers can view the Trader’s performance over a period of time and make an informed decision before parting with their money. We’ve made it easier than ever for customers to have confidence in their chosen strategy.
ZuluTrade platform establishes rankings of Traders’ performance, making it easier for customers to identify Traders to follow and invest with. The platform also features the current ‘Rising Stars’ with Traders who have had recent successes and are closing in on their all-time-highs.
For their trading strategy, customers of the platform can also follow dynamic combinations of Individual Traders called ‘Combos’. These combos use a point-based algorithm for identifying profitable combinations of trading strategies. They are grouped in categories of different risk appetites, from conservative to highly aggressive.
The Traders followed by customers explain their strategies and answer questions from other investors. The platform is fully integrated and provides an incentive for Traders to ensure their strategy performs well, with Traders only taking a percentage of the profits generated for their investor.
Earlier in February, FXCM Group announced expanding its Stock Basket offering to customers further. The broker had previously introduced a portfolio of Stock Baskets in May 2020 and now they are expanding this offering with the addition of seven new baskets.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.