In a move aimed at diversifying its copy trading platform offerings, one of the complete platform solutions providers in the forex and CFD space, X Open Hub, has announced in a press release that it will be integrating ZuluTrade to its trading environment.
The announcement serves to demonstrate the scalability of the integrated solution that the company is offering. Only half a year after including Tradency’s Mirror Trader, there is a second major copy trading provider that has been integrated into X Open Hub’s trading solution. The event bodes well for the customers and for the companies that seem to be open to compete within X Open Hub’s landscape.
The trading solution that the company is offering is completely cloud based and it serves easily to integrate other platforms with its open API which basically permits developers to build on top of the existing modules already fused into the platform. According to the company’s press release on the matter the process has already been undertaken by European brokerage XTB. The company has started offering ZuluTrade’s platform to its clients after quietly launching in the end of March.
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As competition in the copy trading space continues to intensify, fundamental regulatory questions remain and the main worry for brokers who try to implement the new style of trading is related precisely to that point. After Tradency has successfully obtained a license to operate in Japan, which is a huge market, will other players in the space begin to obtain permissions for operation in different jurisdictions or will they leave this tough going to the brokers that implement their solutions.
X Open Hub’s Managing director Jakub Zablocki has stated in the press release that “in partnership with ZuluTrade, we can now offer our flagship FX open trading environment with world-renowned technology provider ZuluTrade, whose solution is perfectly complementary to ours. We look forward to the advantages that this collaboration will bring to our broker clients and their end users.”
Considering that X Open Hub has already integrated Tradency’s Mirror Trader it is a good sign that neither of the two major copy trading companies have not pledged exclusivity in order to work with X Open Hub. As most industry players know, competition is what drives innovation and apparently both companies have nothing against doing exactly that to strive in the increasingly popular social trading landscape.