FP Markets adds Social Trading
Soon after announcing the launch of its mobile trading app, Australia based global Retail FX and CFDs broker FP Markets has announced the addition of Social Trading functionality for its clients, allowing traders to find, follow and copy successful traders automatically.
The company said that social and copy trading removes some of the complexities of trading forex and CFDs, and allows customers a more accessible entry point to trading the global financial markets by following successful traders, or Providers. These Providers are ranked by FP Markets based on their profitability over a given period of time and potential copiers have the ability to view their full trading history and past performance.
Social trading is available for the full range of products offered by FP Markets, covering more than 50 of the world’s biggest Stocks such as Facebook, Google, Apple and Amazon, commodities, indices, and Cryptocurrencies including Bitcoin, Ethereum, Litecoin and Ripple.
While FP Markets has several licensed subsidiaries, the announcement comes at an interesting time for the Australia based company. FNG has reported back in December that Australia financial regulator ASIC is looking at regulating the area of social and copy trading, although no formal announcement has yet been made.
Craig Allison, Head of Europe, Middle-East and Africa commented:
“FP Markets Social Trading allows traders to find, follow and copy successful traders automatically. Since its beta launch at the beginning of March, we have experienced huge demand for FP Markets Social Trading with a huge uptake in registrations and increased activity and engagement ratios, especially on social media. We are excited about the emergence of a new class of traders, and their growing interest in Forex Trading and Contracts For Difference (CFDs), who prefer to analyse the performance of experienced traders and replicate their trading behaviour. Adding this functionality to our market-leading pricing and trading conditions, makes FP Markets the go-to broker for both professionals and those who are at the start of their trading journey.”
Chief Product Officer, Narayan Joshi, added:
“There is an increasing trend amongst users towards social trading platforms like this which offer social trading on Forex and CFDs and combine shares, indices, commodities, cryptocurrencies and community. FP Markets Social Trading delivers a high-end solution for serious traders and is also available on all Android and iOS devices for those clients who want to trade on-the-go.”
FP Markets is an Australian Regulated global CFD and Forex provider with more than 16 years of industry experience. The company said its vision has always been to deliver the ultimate trading destination for clients by combining the best trading conditions, technology, product range, pricing and client services available to those wanting to trade the markets. FP Markets offers highly competitive interbank Forex spreads available from 0.0 pips and leverage up to 500:1 on FP Markets Pro Account.