One of the main players in the FX copy trading space, Tradency, has issued a company announcement outlining the firm’s collaboration with the company behind cTrader, Spotware Systems. As a result, Tradency’s Mirror Trader will fully expand cTrader’s presence on the global copy trading scene by adding a jointly run integrated solution including frontend and backend technology.
The move comes only a couple of weeks after Myfxbook announced that cTrader will be added to the firm’s copy trading solution, AutoTrade. Spotware Systems has directed the efforts of its development team to become active in the mirror trading space, playing on the fact that MetaQuotes has not been particularly happy to cooperate with copy trading companies. Realising that there is a “spot” in the market, Spotware has dedicated resources to integration efforts with two currently major copy trading providers. We wouldn’t be surprised to see other copy trading companies getting on board.
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A number of heavyweight FX brokers across different continents have recently completed onboarding of cTrader, which has captured a large market share of high-volume FX traders. Spotware Systems’ Product Manager, Alex Chauzov, shared, “Clients of Tradency and cTrader will be the primary benefactors of this relationship, which will provide an important and one-of-a-kind integrated solution for brokers with an interest in offering the highest-grade FX and commodities solutions.”
As copy trading has been growing globally, Tradency was the first copy trading platform provider to be licensed by the Japanese Financial Services Agency (JFSA) back in March. Tradency’s Vice President of Sales, Oz Golan, stated in the announcement, “Mirror Trader is proving to be an essential trading tool for brokers. We are excited about our new cooperation with cTrader, and look forward to offering our clients the advantages of combining cTrader’s first-class technology with our high-end service.”