Exclusive: Infinox launches IX Social trading app
FNG Exclusive... FNG has learned that Retail FX broker Infinox has joined the “social revolution”, and launched its own social trading service call IX Social.
Like several of the recent social trading offerings unveiled by Retail FX and CFD brokers, the focus here also seems to be younger traders who trend to use mobile devices (more so than desktops or laptops), and as such the company is offering IX Social on both the Apple AppStore and Google Play as a mobile trading app.
Infinox’s IX Social is a white label of Pelican Trading, which has become a leading supplier of social trading platforms and technology to Retail FX market participants. Other Pelican clients include AvaTrade and its AvaSocial service, the recently sold ETX Capital, forex broker solutions provider Advanced Markets, and liquidity solutions firm IS Prime.
Jay Mawji, Managing Director at Infinox Capital, says that smartphone internet access is on the rise as more and more consumers are capable of accessing the internet on their mobile devices.
“Considering that this is the largest singular contributing device to consumer data usage, brokers should be looking to technology to ensure that trading is accessible to traders anywhere and at any time, and this means putting the power of trading in the palm of their hands.”
“IX Social provides clients with the interactive functionality to social trade, see what other traders are doing, and follow and engage with them,” he explains. “Trading can be a lonely place, and the method of social trading allows clients to connect with other successful and profitable traders, and almost emulate their trading style and strategies. Further, once following a certain trader, clients have the ability to have notifications sent to them each time the trader they follow actions a trade.”
Mawji noted that although there are other apps of its kind on the market, what separates IX Social from its competitors is twofold – the first being a more social element than others, as well as the physical presence of the brokerage behind the app.
“While INFINOX Capital is a large organisation with global representation, we still maintain that we operate as a small organisation, with the ability to converse with INFINOX Capital employees anytime,” notes Mawji. “We understand that any financial transaction involves client’s money, and by putting a face to an otherwise faceless industry builds both trust, confidence, and support.”
IX Social, developed in partnership with Pelican Trading, leverages their unique and proprietary copy trading technology adding this to its suite of trading platforms.
Pelican Trading Co-Founder and CEO Mike Read commented:
“We are very pleased to partner with Infinox to provide our industry leading white label copy trading solution. The partnership will enable Infinox’s clients to trade via the innovative IX Social interface, whist also signifying our ongoing commitment to the FX industry.”
Infinox also stated that it vets providers that use the app, ensuring that they meet certain criteria before they can offer strategies or share trade ideas with users. The company said that this adds an element of security in knowing that the providers that users are communicating and interacting with are in fact real, have integrity, and knowledgeable trading brokers. Furthermore, influencing providers that meet certain criteria also have the ability to be paid a retainer based on their following, engagement and successful quality trading advice offered to others.
The Infinox group operates globally and is controlled by Chinese businessman Xueniu Zhang.