YJFX!, Yahoo! Japan Group’s (TYO:4689) forex and binary options broker announced it is terminating its social trading service Trade Collector.
As per the schedule on the broker’s site, new orders will be available until June 10. Settlement by trading signal will be available until July 7, manual settlement – until July 10 and the service will be fully terminated on July 21, 2017.
Trade Collector was launched in 2015 and offered somewhat unusual take on social trading. It was a combination of the functionalities of automated trading and traditional card games. Users could be “card creators” – providers of trading strategies or “card players” – the followers of the strategies.
There are many forex brokers who offer social trading, like FxPro’s SuperTrader, Swissquote’s Pulse. FXTM and FXCM also provide social trading, either by themselves, or in partnership. On the other hand, there are purely social trading brokers like eToro and ZuluTrade.
YJFX! is fully owned by Yahoo! Japan and is part of its payment and financial services. It offers retail and institutional trading in forex and binary options through its proprietary Cymo platform, as well as copy trading. Its owner, Yahoo! Japan has a wide array of businesses: from internet services, digital content distribution and advertising, cloud storage, insurance, loans and venture capital.