Forex and contracts for differences (CFDs) brokerage, ATFX has entered the copy trading arena with the launch of its new social trading application.
Dubbed ATFX TeamUp, the new application will allow traders on the platform to copy the trading strategies of other expert traders on the platform. With its auto-copy feature, anyone can automatically copy trades and exact risk parameters of other traders.
The brokerage highlighted that the feature will be useful to beginner traders who can earn hope for profitable return while still learning to trade. The experienced traders will further benefit from the service as they can earn additional income with it.
Commenting on the development, ATFX UK’s Commercial Director, Marcos Tigsilema, said: “We’re delighted to be able to bring ‘ATFX TeamUp’ to our clients, especially at a time where in-person social interactions are difficult due to the ongoing pandemic. This gives clients an extra layer of support when they’re trading the financial markets and will be a great tool in their trading armory for years to come.”
Brokerages Are Seeing Growth in New Traders
ATFX is bringing this feature when the demand for copy trading is growing. Many other competitors of the brokerage are also focusing on launching similar features.
All this is happening when the brokerage is seeing strong demand for its offerings. In an interview with Finance Magnates, Wei Qiang Zhang, Managing Director of ATFX (UK), revealed that the brokerage is planning for further expansion and turning profitable. Last year, the brokerage reported excellent growth in its turnover, but operational costs dragged it to losses.
“This has been months of hard work and we’re extremely pleased with the outcome,” Zhang said. “The launch of ‘ATFX TeamUp’ aligns perfectly with our long term strategy to provide our clients with the most advanced and up to date technology. Our vision is to create the best possible trading experience, so anyone can trade anywhere, and we feel that this new product will have a significant contribution towards this.”