CySEC-regulated forex and CFD broker FxGrow said on Monday it has partnered with MyFxBook to offer automated social trade copying service via AutoTrade. Thanks to this new partnership FxGrow’s clients can now optimize their trading strategy by choosing a professional trader and copy his or her trades.
To subscribe, they simply need to connect their FxGrow MT4 trading account to Myfxbook and select one of the Autotrade systems that they wish to follow (based on statistics and performance reports to which they get full access).
There are no registration fees, nor installation of complex software. Myfxbook requires no fees, however most partner brokers charge a small extra commission per trade executed in a client account from an AutoTrade system signal.
“This new service is a perfect tool for traders who struggle to find enough time to trade the markets or wish to further diversify their Forex portfolio,” the broker said in the statement.
Apart from MyFxBook’s AutoTrade, FxGrow offers another automated trading service – Signal Trader. Other popular social trading platforms that allow investors to trade, follow other fellow traders and copy their trades and trading signals, or get followed themselves are ZuluTrade, Ayondo, eToro, and Tradeo, among others.
FxGrow is a STP/ECN broker that places a special focus on social trading, providing access to both MyFxBook’s AutoTrade and Signal Trader. Behind the brand is Growell Capital Limited, a company regulated by the website of the Cyprus Securities and Exchange Commission (CySEC). It is also registered in a number of other EU member states, including the UK, Germany, Poland, Sweden, and Spain.