Retail foreign exchange and CFDs brokerage HotForex is deploying a new copy trading platform HFCopy to clients globally. The firm is using a number of licensed subsidiaries to onboard clients in various regulatory jurisdictions. The group of firms operating under the umbrella of HF Group includes regulated brokers in Cyprus, Mauritius, South Africa, the St Vincent and the Grenadines.
The copy trading product of HotForex is allowing clients to follow strategies provided by selected traders and copy their trades on their accounts. The firm has developed its copy trading platform from scratch after having invested in in-house specialists and technology solutions.
A Proprietary Development
The broker’s proprietary HFcopy product is aiming to make trading easier for clients that do now have the deepest knowledge of financial markets. The company’s focus on novice traders makes the platform easy to use and user-friendly.
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HFcopy is incentivizing traders to share their strategies for a hefty performance fee that can reach up to 35 percent of the winnings of the followers. The traders that are willing to share their expertise can apply for a Strategy Provider account and start receiving their rewards while trading on their account and netting profits to their followers.
Commenting on the release of the new product, a spokesperson for HotForex said, “Our goal is to offer our clients the latest in trading, however it is also our priority to protect them by providing them with full control over their funds.”
“Followers can decide how much to risk, set their volume allocation percentage and access their account to monitor the trading, to close positions, or to unfollow an account any time they want to,” the spokesperson explains.
The Strategy Providers are being paid out once a month with their Performance Fees being calculated based on a predetermined set of criteria.