Leverate Opens up Social Trading with Sirix Community

Leverate, a leading Technology Provider Technology Provider A technology provider is an individual, company, or entity that creates, render services and sells software applications or hardware. Currently, there are four types of tech providers which are as followed:Software-as-a-Service (SaaS) – Functioning as a subscription-based licensing and delivery model, SaaS is centrally hosted and may also be referred to as on-demand software. Tech Hardware – Powerful tech providers such as Apple, Oculus Rift, FitBit, and Samsung are examples of tech hardware pro A technology provider is an individual, company, or entity that creates, render services and sells software applications or hardware. Currently, there are four types of tech providers which are as followed:Software-as-a-Service (SaaS) – Functioning as a subscription-based licensing and delivery model, SaaS is centrally hosted and may also be referred to as on-demand software. Tech Hardware – Powerful tech providers such as Apple, Oculus Rift, FitBit, and Samsung are examples of tech hardware pro Read this Term to the FX brokerage sector has announced the launch of Sirix Community, a multi-broker social trading environment that incorporates different users of Leverate to form one large social trading community. The move positions Leverate as one of the largest social trading portals in the margin FX business.

Social trading is a recent phenomenon that has opened up the FX and CFD markets to clients who are either new to the markets or require a helping hand. Through the social trading network users can monitor, copy and analyze the trading patterns of profitable traders. Through this latest offering, users of Sirix Community will benefit from a large number of traders offering users the ability to monitor and copy their trading strategy.

Itay Damti, VP at Leverate spoke about the product extension in a comment to the media, saying, “The introduction of Sirix Community is a huge asset for Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term brokers who offer social trading. The strength and continued success of any social network is measured by its size and level of continued activity. By uniting many brokers’ networks into one unified community, each broker will have a higher chance of success with the social network.”

Client Data Protection

Under the new regime the security of client data is questioned, however, Leverate has created the network in such a way that all the functionality that users need in order to copy or follow traders is present, except the finer details e.g. the broker, the client trades which are not available. Mr Damti added, “We designed Sirix in ways that benefit both brokers and traders, while safeguarding privacy and empowering brokers to be flexible with the management of their ‘private’ client base.”

Leverate’s new offering is ideal for firms that are looking to start-up as a broker in the FX social trading space, during the initial phase of business most brokers have a limited client base, and a social network loses its appeal without a mass user base thus Sirix Community serves well.