CopyFX, the copy trading platform of forex brokerage RoboForex, said on Friday it has introduced a new feature that enables traders to choose which account to use when they create a new offer. Traders will receive the commission from the order directly into the account they have selected.
For each offer Traders can choose any of their CopyFX accounts, where the commission received from Investors for the transactions they copied will be transferred to.
The option is available at a new field called “The account for transferring the commission from Investors to”.
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 recently renamed from RoboTrade Ltd., and New Zealand-based RoboForex LP.
The CopyFX 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.