US social trading system FX Junction announced it is changing some of its trading conditions, starting from May 1.
Those include changes to the AutoCopy fee model and trading commissions, as well as to some rules about the signal providers. Additionally, FX Junction said it is adding the FasaPay electronic system to its payment options list.
Here is a full list of the changes to the trading conditions and rules implemented by FX Junction:
- Only Validated Signal Providers can share their strategies for AutoCopy.
- Members with a Demo or Live account linked to their FX Junction Trading Profile will only be able to AutoCopy Validated Signal Providers.
- AutoCopy will be immediately disabled for UnValidated Signal Providers. Traders AutoCopying trades from UnValidated Signal Providers will need to manage their AutoCopied trades manually.
- AutoCopy Commissions per Lot and Commissions per Trade will be charged up front instead of per leg.
- AutoCopy Fees model changes:
– Subscription Fee: minimum 0.01 USD
– Commission per Lot: minimum 0.01 USD
– Commission per Trade: minimum 0.01 USD
– Free Trial: maximum 14 days
As for the addition of FasaPay, which is a payment and money transferring platform based in Singapore and operating with more than 320 merchants in more than 190 countries, the main reason is its popularity in Indonesia.
“Indonesia is one of our fastest growing markets and we want to make sure Indonesian social traders can easily interact with FX Junction,” states Ryan Novak, Head of Sales. “Thanks for the valuable feedback from our Indonesian members, we are pleased to add FasaPay as an alternative payment gateway.”
FasaPay is a fairly popular payment option among forex brokers. Other companies offering it as a payment option are Tickmill, Exness, FXFair, HotForex, Tenko FX, Ayrex, FiboGroup, ForexOptimum, SuperForex, FXOpen, FXPrivate etc.
In addition to FasaPay, FX Junction currently supports Skrill and PayPal.
FX Junction is a social network for forex traders, where they can exchange information with fellow traders, follow and copy the trades of more experienced traders. An auto-copy function allows real-time auto-pilot copying of top traders.
Currently FX Juncion supports more than 900 forex brokers, has over 23 000 members with nrealy 9300 linked accounts.
The company also provides brokers white-label solutions that they can offer under their own brand.