Cyprus-based online forex broker RoboForex, part of RoboForex group, said on Friday it has introduced CopyFX and RAMM trading platforms to its offering, following an amendment to its Cypriot license, which allows it to act as a Portfolio Manager.
The broker received CySEC license in January 2013, which was expanded in January 2016.
RoboForex provides trading in forex, metals and contracts for difference (CFDs). It also supports MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader trading platforms.
CopyFX, launched in October 2014, is the social trading service of RoboForex. Users can open either an Investor account to copy transactions from other traders, or a Trader account to make profit by receiving commission for transactions copied by investors.
Social trading allows investors to trade, follow other fellow traders and copy their trades, or get followed themselves. It is especially suitable for inexperienced traders who don’t feel comfortable selecting their own strategies.
The RAMM, or Risk Allocation Management Model, platform allows users to trade as both a Trader and an Investor. RAMM accounts allow trading in both manual and automatic mode. This type of trading allows users to have a more complete control over the acceptable level of risk by setting a limitation levels on acceptable losses.
Earlier this year RoboTrade, another unit of the RoboForex group, started offering RAMM-accounts via the group’s proprietary platform ramm.roboforex.com.
The RoboForex brokerage group is headquartered in Cyprus’ Limassol and has representative offices globally. It consists of the holding company RoboForex Financial Group, and its units Cyprus-regulated RoboForex, Belize-regulated RoboTrade Ltd. and New Zealand-based RoboForex LP.