de | cn | ru

Brokers News

FXCM Expands Its Social Trading Offering by Adding Tradeo

Earlier today the Tradeo social trading network announced its partnership with FXCM. The broker will be linked to the social platform through a designated cloud bridge. 

With this partnership all FXCM customers can get together virtually, share their ideas and expertise, and copy signals – and do so absolutely free of charge. 
The results of a broker survey conducted recently by Integral Development Corp., 79% of brokers believe that social trading is a sustainable trend and is here to stay. FXCM is an early adopter of the automated trading concept – it has been offering signal copying via the ZuluTrade and Tradency's Mirror Trader platforms for quite a while now. Recently, the broker simplified the use of Mirror Trader, making it easily accessible to all its clients. 
By teaming up with Tradeo, FXCM makes social trading available even for small portfolio size traders who can't afford (or simply don't want) to pay for their signals – one of Tradeo's greatest features is that for the time being, all its services remain free of charge. A downside to this is that anyone can become a signal provider – you can't really be too picky about the leaders if you're not paying them, can you? 
Obviously, ZuluTrade and Mirror Trader get bonus points for that: they charge followers for the insight they are getting, and pay the leaders. While this system should be working all right in ideal conditions, in reality it shows two weak spots. The first one is that signal providers get paid for both good and bad signals, so they have incentive to make more trades for followers to copy, thus paying less attention to the quality of the signals. The other problematic feature is the fact that signal provider ranking is determined by a computer algorithm, and is therefore not too reliable. The good news is that both networks are aware of this and offer solutions for avoiding issues. 
The problem with signal quality is particularly acute with Tradeo – as I said, there is no control over signal providers there. However, the platform's strength lies elsewhere: technical innovation and flexibility. The partnership with FXCM came to life after Tradeo listened carefully to feedback from users – and then put the wheels in motion to create MT4 and ActTrader bridges for the broker. 
Technology-wise, I am a big fan of Tradeo's SocialTrader – a platform that provides market and social data at the same time and on the same chart, the same chart that allows for opening positions straight from it. 
Whether you go for Tradeo, decided to stick to ZuluTrade/Mirror Trader, or stay away from social trading in general, it's good to know that FXCM offers the variety to match your choices – and so does Tradeo – so kudos!

About FXCM Inc. 

FXCM Inc. (NYSE: FXCM) is a global online provider of foreign exchange (forex) trading and related services to retail and institutional customers world-wide. 
At the heart of FXCM's client offering is No Dealing Desk forex trading. Clients benefit from FXCM's large network of forex liquidity providers enabling FXCM to offer competitive spreads on major currency pairs. Clients have the advantage of mobile trading, one-click order execution and trading from real-time charts. FXCM's U.K. subsidiary, Forex Capital Markets Limited, also offers CFD products with no re-quote trading and allows clients to trade oil, gold, silver and stock indices along with forex on one platform. In addition, FXCM offers educational courses on forex trading and provides free news and market research through 
TAGS: FXCM  Tradeo  ZuluTrade  Mirror Trader  Tradency  social trading  forex trading  forex broker  trading signals 

More news about FXCM

Broker Country Regulation Platform Min Deposit Review
$50 Review Website
US NFA, CFTC MT4 $250 Review Website
Cyprus, UK, Mauritius CySec, FCA, IFSC MT4, MT5, Web $10 Review Website
Cyprus, Australia CySec, ASIC MT4, Web,
Mobile app
$100 Review Website
Australia, Cyprus ASIC, CySEC MT4, MT5,
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC MT4, Trading
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
Australia ASIC MT4, MT5 $100 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website

More Forex Brokers News

FXTM appoints Han Tan as a Market Analyst for Southeast Asia region

Apr 19 2019 13:28:36

  Global award-winning forex broker FXTM has just announced the appointment of Tan Chung Han (Han Tan) as a Market Analyst. Read more

FXTM gets a license from Mauritius’ FSC

Mar 28 2019 09:59:36

  Award-winning forex brokerage  FXTM (ForexTime) continues its ongoing global expansion. The broker announced it has acquired a license from the Financial Services Commission (FSC) of the Republic of Mauritius previous week. Read more

Fortrade is the first broker to get an ASIC license in nearly 2 years

Mar 20 2019 15:03:35

  Fortrade acquired a financial services license from the Australian Securities and Investments Commission (ASIC), which hasn’t been very welcoming of new retail forex broker applicants lately. Read more

FP Markets launches a suite of cutting-edge MT4 tools for traders

Mar 06 2019 14:31:42

  FP Markets, a market-leading Forex and CFD provider, launches MT4 Trader Toolbox, a suite of twelve online trading tools which will take their clients’ trading to the next level. Read more

Major broker IG launched its US website

Jan 31 2019 13:15:37

  Global brokerage IG launched its website intended for US retail clients ( Residents of the US (with the exception of those in Arizona or Ohio) can now register on the broker’s website in less than 5 minutes and start trading. Read more announced important updates to its Web Trading platform

Jan 25 2019 15:13:43

  Major forex brokerage  proudly announced important updates of its in-house Web Trading platform, which will take your trading experience to the next level.   Accessible from all browsers and operating systems, Web Trading was launched in 2017. Read more

HotForex parent gets licensed by UK’s FCA

Jan 21 2019 12:31:59

  Less than a month after HotForex acquired license to operate in the UAE, the trading services provider gets an authorization by the Financial Conduct Authority of the UK. The UK subsidiary of the HF Markets Group, HF Markets (UK) Ltd. Read more

Rakuten Securities offers HK$700 prepaid cards as a welcome gift

Jan 18 2019 10:26:57

  Hong Kong forex broker Rakuten Securities offers up to HK$700 Spending Limit Prepaid Card as a welcome gift to new account registrants. Here are all the details you need to know about the company’s promotional offer, which is valid from now until the end of March 2019. Read more

XM applies for a forex dealer license in the US

Jan 11 2019 13:39:14

  The US subsidiary of major forex brokerage XM has applied for a membership with the National Futures Association (NFA). This became clear from a filing by the broker’s US entity Markets Inc. (previously Trading Point US Inc.) with the NFA dated January 3, 2019. Read more

HotForex acquired DFSA license, commences operations in the UAE

Jan 08 2019 10:45:37

  HotForex is now licensed by the Dubai Financial Services Authority (DFSA) and announced it commences operations in the United Arab Emirates (UAE). The Dubai arm of the HF Markets Group, HF Markets (DIFC) Ltd., acquired the DFSA license in December last year. Read more

de | cn | ru