CopyFX, the copy trading platform of forex brokerage RoboForex, said on Wednesday it has introduced a Subscription mode, a new feature that allows traders to choose between two different modes – ‘free’ or ‘by request’.
When setting subscriptions to ‘free’ mode, traders enabled investors to subscribe to them directly without any limitations. The mode ‘by request’, on the other hand, allows traders to approve or reject investor requests, thus controlling the number of investors who subscribe to their offers.
Another difference between the two subscription modes is how traders’ accounts are accessed in relation to the rating list. When they chose ‘free’ mode, traders agree their accounts to be displayed in the Rating section and to be easily accessed from there. In‘By request’ mode, traders’ accounts are not displayed in the Rating section and are only accessible via a direct link.
CopyFX, RoboForex’ social trading service, was launched in October 2014. Its clients can open either an Investor account to build a portfolio by coping transactions from other traders, or a Trader account to make profit by receiving commission for transactions copied by investors.
Social trading network allow investors to trade, follow other fellow traders and copy their trades, and get followed themselves. They are especially suitable for inexperienced traders. Other social trading platforms on the forex market are ZuluTrade, Tradeo, and Tradency among others.
The RoboForex group consists of the holding company RoboForex Financial Group, and its units Cyprus-regulated RoboForex (CY) Ltd., Belize-regulated RoboForex Ltd which was formerly known as RoboTrade Ltd., and New Zealand-based RoboForex LP.