cTrader Copy, the social trading investment program offered by Spotware, has been added by one of the company’s clients, Scandinavian Capital Markets, a Swedish foreign exchange broker, Spotware announced earlier this week.
The social trading platform, which was launched as an improved replacement of cMirror, allows investors to copy the strategies of professional traders. The investment program offers precise copying with equity to equity model.
“As social trading gains more and more popularity, we encourage our brokers to benefit from the full scope of what the platform has to offer by making use of cTrader Copy to add value to their traders, as well as to gain an extra competitive edge and increase their market share,” Spotware said in a statement on its website on Monday.
Based in Sweden, Scandinavian Capital Markets is regulated and authorised by the Swedish Financial Supervisory Authority (FSA). The company stems from an asset management firm and was created by Arif Alexander Ahmad and Michael Buchbinder.
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Spotware: Social Trading Is Gaining Popularity
Social trading is particularly good for novice investors who would prefer to copy the strategy of an expert. The announcement from Spotware and Scandinavian Capital Markets arrive at a time when a lot of new traders are flocking to the trading markets.
As Finance Magnates has covered extensively, the recent heightened volatility in the markets has created a new wave of interest in trading. In particular, the volatility driven by the coronavirus pandemic has attracted a lot of first-time investors and revived interest from previously-dormant traders.
With so many novice traders entering into the market, coupled with the complex nature of forex trading, the attractiveness of social trading, or copy trading, could be a drawcard for many brokers and could be the motivation behind the announcement on Monday. However, this is purely speculation.
The announcement also comes just after Spotware celebrated a decade of operations. In a recent interview with Alexander Geralis, Sales Manager at Spotware, the company revealed to Finance Magnates that it plans on increasing the market share of its cTrader platform.