Malika Bakytova – Business Development Executive at Brokeree Solutions figured in the new Brokeree’s YouTube video about Social Trading.
The video “Social Trading: Why is it popular?” answering the question why are so many traders looking for brokers with copy trading services and explains why social trading is so popular even after a decade of usage.
- Why do brokers choose to implement Social Trading?
- What features should have a robust copy trading solution in 2023?
- May Social Trading be utilized as a tool to increase client engagement?
Watch the video to get answers to these and more questions.
Copy Trading: Why is it popular?
Social Trading in the forex industry is a popular way for traders to access the market and copy trades from more experienced and successful traders with no need of carrying out technical analysis. With no prior trading experience, traders can now learn and test different strategies by following signal providers. It also gives them the opportunity to make some profit and generate passive income streams.
For signal providers, it’s obviously first of all, to generate additional income streams by receiving performance fees from followers and also demonstrate their results and gain more audience.
Why do brokers need to deploy it?
Brokers may benefit from the trading volume which potentially increases as the more users will participate in copy trading.
It gives them a chance to diversify targeting to reach wider audiences: potential investors, traders with different requirements, passive investors who look for multiple sources of income, users who want to profit from volatility in the forex market and so forth.
As a result it increases the brand transparency as new visitors will see actual clients and their demonstrated results which eventually may improve client retention.
Brokers may also optionally charge the signal providers with a percentage-based Platform Fee as a payment for the broker’s service.
There are several types of Social Trading, however within brokerages, the stand alone version is becoming more popular and trusted due to the opportunity of an extensive customization which gives brokers a full control over copy trading activity.
What features should have a robust solution?
The comprehensive functionality of the solution is a must to accurately set conditions for your clients. The solution should definitely operate across different trading platforms like cTrader and MetaTrader 4 and 5 and have the multi and cross server functionality in place to give you the flexibility with limitless share and copy trading signals in real time.
Last but not least, we can not deny the fact that Social Trading is a tool that might fuel the trading activity in your brokerage and client engagement.
Do not wait no more, get a free demo via [email protected] and try it out yourself.
Why Brokeree Social Trading?
Brokeree Social Trading is an innovative, cross-server solution that empowers traders to participate in a dynamic copy trading experience across multiple platforms, such as MetaTrader 4, MetaTrader 5, and cTrader. It facilitates the seamless sharing of trading signals so traders can follow and replicate the strategies of experienced professionals, fostering a vibrant ecosystem of knowledge exchange, collaboration, and enhanced trading efficiency.
Explore more information about Brokeree Social Trading in the FAQ with Tatiana Pilipenko.
