Markets.com has just rebranded its site and appears to have gone ‘all in’ with social trading and the Sirix trading platform from Leverate. We got a small preview of the new look with its TopOption binary brand launch last month, but they are moving the look across the board. As a competitor to both eToro and AVAFX in many of the same regions and distribution channels, the current facelift is aimed at strengthening their offerings versus those rivals. On the updated site, copy/social trading comprises two of the first four images on their home page slideshow, with one looking seemingly similar to eToro. (in defense, this look has become commonplace among social targeting websites, so the look isn’t exclusive to eToro, but worth comparing).
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Beyond the move to focus on social trading, Markets.com has moved the Sirix Trading Platform above its MetaTrader, with the platform being showcased on the home page. The Sirix Trader is Leverate’s flagship cross platform trading system which provides brokers with a web and mobile solution. Working with the Sirix foundation, Leverate has embedded social trading on the platform as well as other third party programs for brokers to implement. We’ve written in the past of how brokers are using MT4 as their base trading server while then launching plugins to enhance the platform and or connecting third party web/mobile interfaces. However, this is first time a major broker has decided to put its full emphasis on the eco-system running on top of the MT4 platform. In addition, several other smaller brokers that work with Leverate have told Forex Magnates that the Sirix social product is expected to be a core part of their future business and focus.
The move to promote social trading is also another trend occurring within in the retail forex industry. At this point, most brokers are either product driven or affiliate/partnership driven. For those with partnerships composing a large percentage of their business, copy/social trading is becoming more heavily promoted. This is due to the ease that it provides IB’s and affiliates to stimulate their clients to trade. Rather than needing to educate customers about trading, explaining the elements of copy trading is generally an easier sell. As such, more affiliates are demanding a competent copy trading solution from brokers. With a fully developed partnership and white label business that includes regional offices around the world, the focus on copy trading would seemingly make sense for Markets.com.