Myfxbook to Launch Copy Trading

Online forex trading community myfxbook which specializes in providing a shared statistics on broker spreads, currency moves, and trader performance

Online forex trading community myfxbook which specializes in providing a shared statistics on broker spreads, currency moves, and trader performance will soon be launching a copy trading product. As the portal has been providing trading stats for years, the emergence of copy trading is makes sense as a natural extension of the site. According to a representative of myfxbook, they believe that they will be adding value to the space by providing a product that emphasizes risk management and profitability as isn’t simply looking to target high volume trading to generate revenues for brokers and IBs.

The copy trading sector continues to get more competitive as brokers are launching their own products along with a steady rise of cross broker initiatives being started.

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Myfxbook has provided these highlights about the coming offering
– platform is designed to limit risk taken and therefore protect accounts.
– service providers (ie systems to be copied) are hand picked and real only (no demos).
– service providers get paid for profitable trades only, which will eliminate “volume traders” (as in zulurade).
– all of the statistics are based on real figures (unlike zulutrade which work with imaginary pips).
– technology wise, it is built directly with the Metatrader platform, so we can support every broker (we will be working with selected few).
– cost is added to the spread in the form of markup.

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