FXTM, a Cyprus-regulated forex and CFD broker said it is extending the services available to clients with ECN Zero and Strategy Accounts.
As of next Monday, July 3, the two types of accounts will be merged. This, according to FXTM, will allow clients with ECN Zero Accounts to join the FXTM Invest program as Strategy Managers.
FXTM Invest is a type of copy trading system, geared towards investors who want to diversify their portfolio, but do not have enough knowledge. The program allows investors to follow the trading strategies of Strategy Managers. They, on their part can maximize their profits by having their strategies and trading history published on FXTM’s site, so others can follow them. Additionally, the holders of Strategy Manager accounts have access to additional statistics and social tools to boost their profiles.
FXTM is based in Cyprus and is regulated by the Cyprus Securities and Exchange Commission (CySEC), which allows it to provide its services in all EU countries. The broker also holds a license from the Financial Services Board (FSB) of South Africa. It has also set up a London-based unit, but it has provided no information at the time as to whether it plans to acquire a UK license.