Online trading broker, FXCM, has partnered with ZuluTrade to bring its clients social and copy trading on popular financial instruments. Beginners, in particular, can now benefit from the experience of established investors, replicating their strategies and positions in their own accounts. Find out how the new copy trading service works.
FXCM Social & Copy Trading
Recognising the rise in demand for copy trading tools, FXCM has integrated the ZuluTrade platform into its offering. Users can copy high-performing traders, following their market signals and strategies. It means new traders can learn from and interact with experienced traders, getting to understand forex and stock markets, for example. Crypto trading strategies can also be automatically copied.
FXCM ranks copy trading providers based on performance. Clients can drill down into the provider’s risk appetite, day trading strategies and investment experience. Both free and paid-for providers are available on the ZuluTrade platform.
FXCM CEO, Brendan Callan, had this to say of the addition “When beginning a trading career, it can often seem overwhelming to create an initial strategy. Market volatility, trading products and risk appetite are all new elements for customers to consider when exploring profit-making strategies. Social trading gives customers a great choice, especially when beginning to trade. By following an independent Trader, customers can view the Trader’s performance over a set period of time and make an informed decision before parting with their money. We’ve made it easier than ever for customers to have confidence in their chosen strategy.”
Note, traders can still lose money copy trading so clients should exercise caution.
FXCM, also known as Forex Capital Markets, is an FCA-regulated trading broker offering a selection of currency pairs, cryptos, stock indices and commodities like gold and silver. Clients can trade on the popular MetaTrader 4 desktop and mobile platform that comes with dozens of technical indicators, multiple chart types, plus instant and pending order types. Spreads are competitive with the basic account and fees fall as you move up the account tiers.
There has been growing interest in social and copy trading in recent years, with many top brokers responding to calls from retail clients for such services. FXCM’s new feature via ZuluTrade will appeal to existing traders and catch the attention of prospective users.