RoboForex opens up CopyFX to wider clientele

It was more than a year ago that RoboForex, an FX broker originally registered in New Zealand, launched its social trading network CopyFX. However, at that particular juncture the service was targeted exclusively at Russian traders and was made available solely with Russian language support, which limited the number of users of the platform.

On Friday last week, the company made a step towards opening up the social trading platform to a wider clientele by launching it in 11 language versions including the original Russian version. The list includes English, Chinese, Taiwanese, Indonesian, Malaysian, Arabic, Spanish, Italian, Portuguese, Ukrainian, and Polish.

This development includes languages which are key to the FX industry, those being Chinese, English, Arabic, therefore providing the potential for a higher number of followers which in its turn will translate in bigger profits for signal providers. At the same time, it is likely that the number of signal providers will increase globally, which will offer retail customers a greater variety of lead trades to choose from.

RoboForex’s CopyFX seeks to attract clients with a variety of reward plans (based on commissions for volume traded or a preset profit percentage), easy choice of signal providers and the ability to test the service with a demo account. Those feeling to trade live on the platform should only open a real account with RoboForex.

The increased potential of CopyFX comes as the social trading industry gets more crowded and challenging. Last year saw the launch of major competitors in this specific area such as FXPro’s SuperTrader, Saxo Bank’s and OANDA’s Trade Leaders Program. At the same time some brokers have chosen to terminate their social trading services – in July this year, for instance, IBFX waved goodbye to its platform Connect. LigaForex, an investment service targeted at the Chinese market, was also shut down this summer.

RoboForex, however, seems to be unmoved by the negative occurrences in the sector. The launch of the boosted CopyFX comes as the broker throws its weight behind another of its new services which was unveiled under the brand name of RoboOption, the SpotOption-powered platform for binary options trading. Started in the spring of 2013, the service gathers pace and now offers a partnership program.

For more information from RoboForex, click here.

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