NEWS
Tickmill, a renowned online trading provider, has announced its integration of SoFinX technology to significantly enhance its copy trading services. According to a press statement released on Friday, the partnership aims to enhance the trading experience for both novice and seasoned traders.
The new platform boasts over 10,000 signal sources, allowing Tickmill clients to replicate market moves from these providers, potentially enabling even inexperienced traders to benefit from proven systems. The platform claims to democratize trading successes, empowering individuals to engage with the market using the expertise of others.
Edison Tuan, founder and CEO of SoFinX, emphasized the significance of enhancing customer service and ongoing innovation. Tuan highlighted Tickmill’s commitment to providing outstanding customer service and embracing technological advancements, noting that this collaboration would elevate client interaction to the next level.
Copy trading, also known as social trading, is not a new concept in financial markets, enabling traders to openly disclose and replicate their trades. This mutually beneficial strategy rewards both the original trader and those replicating their actions, with gains shared, incentivizing professional traders to perform well and share in the profits from duplicated deals.
The practice has evolved significantly since its inception, with technological advancements facilitating platforms like eToro and ZuluTrade to streamline the process, each with its unique business strategies tailored to their clients. While eToro incorporates copy trading into its traditional brokerage services, ZuluTrade provides infrastructure in collaboration with multiple brokers.
Tickmill has a history in copy trading, having entered the social trading arena years ago and recently enhancing its platform. The company has remained competitive by adopting popular practices and more recently offering a 3.5 percent interest rate on unused customer funds, mirroring actions taken by other leading brokers in the market.
Last month, FX Newsroom also reported that Tickmill’s Co-founder, Ingmar Mattus, announced the launch of MetroTrade, a new US futures introducing brokerage.
