eToro introduces new feature “Stop Copy and Keep”
Online broker eToro introduces “Stop Copy and Keep” – a new feature that allows you to keep your current assets when you stop copying other investors.
Copy Trading, also known as social trading or mirror trading, is an increasingly popular service being offered by FX and CFD brokers, allowing (mainly) beginner and novice traders to copy the trades of more experienced traders. Thus the inexperienced traders get the benefit of the moves made by more seasoned traders, and the experienced traders can earn extra money via (usually) a percentage of the profits of those who copy them.
The FX broker which facilitates the copy trading service makes money via the increased spread revenue generated by higher trading volumes.
Copy trading is often offered via third party or white label platforms which integrate different copy trading related tools such as chat, portfolio balancing and trade sizing.
FX brokers which specialize in copy and social trading include eToro, NAGA.com, and Darwinex. A leading white label provider of copy and social trading services to FX brokers is Pelican Trading.
Online broker eToro introduces “Stop Copy and Keep” – a new feature that allows you to keep your current assets when you stop copying other investors.
The $41.9 million revenue figure at eToro UK represented about 7% of eToro’s global revenues of $602 million in 2020.
Coinrule has grown rapidly over the last 12 months with over 13,000 users trading assets worth £100m every month.
Copied trades at NAGA.com grew by 366% to 2.8M in HY21, which also surpassed the entire number of copied trades of 2020 (1.7M) by 64%.
All eToro users in the Netherlands can now Copy Trade, if they wish to, with the full experience.
Copy trading is like a type of automated trading, where positions get copied from the signal provider’s trading account to the subscriber’s trading account.
Revenues at Admirals UK came in at £10.2 million in 2020, up 53% from £6.6 million the previous year.
The Traders that customers follow fully explain their strategies and answer questions from fellow investors.
Coinrule reports 13,000+ investors using its platform globally, and has seen 10x sales growth since launch in January 2020.
ASIC has felt the heat lately to be tougher on the Retail FX and CFD market, after a number of broker bankruptcies.