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HotForex Terminates Support of Social Platform ZuluTrade

HotForex, the Cyprus-based Forex broker, has announced it will stop offering its clients signal copying services on social trading platform ZuluTrade. The change comes into effect on January 4, 2014.
 
Due to the change, all clients of the broker using the service are advised to close all of the open positions. Otherwise, the positions will be automatically closed by the broker according to the prevailing market prices. 
 
The decision positions HotForex next to a growing list of brokers which have terminated their relationship with ZuluTrade over the past months, with the latest of them being Russia's Alpari Limited. But while Alpari's team was more elusive about the reasons for the souring of the relations with the social network, citing ideological factors, HotForex cited the rationale straightforward. The Cypriot broker  said the main reason for stopping the service were the frictions between ZuluTrade and Metaquotes.
 
Perhaps you recall that these frictions emerged in June this year amid accusations by the creator of the popular Metatrader 4 platform that its protocols have been hacked by a number of companies. The tensions led to technological problems for many, while the first brokers to cut their ties with ZuluTrade were FinFX and XM. FinFX has found a substitute of ZuluTrade via Currensee and more recently added Signal Trader to its lineup of social trading services.
 
HotForex is also in search of a replacement to the popular social trading platform – but one thing is certain, it pledges new social services to its clients.
 
 

About HotForex

 
HotForex, or HF Markets Ltd., is a Forex and commodities broker based in Cyprus and regulated by the Cyprus Securities and Exchange Commission (CySec). It offers a variety of accounts, trading software and trading tools to an international clientele of retail customers, fund managers as well as institutions. Unlike many other brokers that are not particularly fond of scalping or traders who use expert advisors, HotForex claim that they welcome such customers and grant them full access to their liquidity.
TAGS: hot forex  hotforex  hotforex zulutrade  hotforex broker  forex broker cyprus  zulutrade forex  zulutrade  zulutrade broker  metatrader  termination  social forex  forex signals  forex trading 

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