According to an official announcement on Tuesday, FXCM now offers social trading via the mobile platform of Swipestox, launched earlier this year and gaining popularity ever since.
Obviously, SwipeStox and the company behind it, Naga Group, are trying to bring to traders a new environment for social trading, that is user-friendly and more fun. In fact, the platform functions much like the popular dating app Tinder – by swiping right or left, one can get in a trade, instead of a date. It is available for both iOS and Android devices.
The partnership with SwipeStox will allow FXCM’s clients who engage in mobile social trading to trade all major forex crosses, international indices and soft commodities. The mobile platform offers trading on almost 800 markets and its latest update allows opening of a live account from within the app.
„SwipeStox has convinced us,” commented Brandon Mulvihill, MD and global head of sales at FXCM. “A true innovation, fantastically executed. For us, SwipeStox is the tool for true social trading. It’s fun, easy to access and handle, and it literally engages and mobilizes our clients. We are delighted to be able to offer our clients this new dimension of trading.”
Being truly entertaining and innovative, Swipestox has established a social network of 150 000 traders from across the world since its launch in February. Taking into account that social trading is a niche product that does not require special knowledge and skills, it is likely to become even more popular.
Besides FXCM, Swipestox has partnered with brokers One Financial Markets and Hanseatic Brokerhouse.
FXCM (NYSE:FXCM) is one of the biggest providers of online forex and CFD trading, spread betting and related services worldwide, servicing institutional and retail clients alike. Recently, we reported that the broker continues to lead the US retail forex market both by trading volume and client deposits.
The company has units registered and regulated with the relevant authorities in the US, the UK, Australia, and France.