One of the world’s leading brokerage firms, FXCM, has announced that it will be introducing new trading services. FX and CFD trading practices will be expanded to all FXCM clients with the all-new copy and social trading service. The broker has also launched a brand new platform for these options, that will facilitate users.
On the new copy strategy available to FXCM users, the broker commented in the official press release that
“The traders that customers follow fully explain their strategies and answer questions from fellow investors. This is a fully integrated platform that provides an incentive for traders to ensure their strategy performs well, with Traders only receiving a percentage of the profits generated for their investor,”
The press release following the integration of the new services reveals that the brokerage had partnered with ZuluTrade for completing the project.
Through the act of copy-trading, users can mirror the trades of more experienced users. This happens through copying the signals and strategies of high-performing users. This way the user does not need to keep a constant eye on the market, and instead leave his trades to a more experienced investor.
FXCM’s new social/copy trading platforms aim for an optimal trading experience. There is a ranking system that outs the top traders from which to copy on the top of the list, which will aid the novice user chose more wisely.