ZuluTrade Aims For The Proprietary Platforms – Partners With IBFX

As social trading platform providers branch out and seek new methods of providing services to operate in conjunction with proprietary

The expansion of social trading platforms into the world of proprietary platforms is certainly gaining momentum, exemplified by yesterday’s annoucement by Monex subsidiary IBFX, that it has entered a partnership with ZuluTrade.

Broadening Horizons

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Until relatively recently, a large and highly competitive ecosystem had been established around social trading platforms providing their services to MetaTrader 4 brokers, as a means of attracting new retail clients and gaining the most value from the acquisitions, as a result of the increased volume brought about by social trading.

Earlier this year, however, MetaQuotes issued a warning to brokers advising against the use of four of the major providers of social trading platforms amid the allegation that the MetaTrader protocol had been hacked.

This created a situation in which social trading platforms sought other modus operandi, and in the case of Tradency, immediate termination of its relationship with MetaQuotes. Tradency sought pastures new, and in doing so has subsequently moved into the institutional space by partnering with CFH Clearing, in order to leverage its distribution channel, and now sees its partnership structure as being with the providers rather than the broker itself in this circumstance.

Leon Yohai, CEO of ZuluTrade
Leon Yohai, CEO of ZuluTrade

Further partnerships have been made by myfxbook with cTrader and with software firms which enable flexibility of connection to FX company infrastructure, in order to be less platform or CRM specific.

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Social Interaction For TradeStation Clients

With the partnership between IBFX and ZuluTrade, users of IBFX’s TradeStation platform will be able to interact and also copy the trades of signal providers, as well as trade automatically via the ZuluTrade facility.

ZuluTrade now also offers its social forex trading service through dedicated applications on all major tablet and mobile platforms, including iPhone or iPad, Blackberry Playbook or Z10, Kindle Fire and Android-enabled devices.

ZuluTrade users can access their accounts anywhere, a factor which many retail FX brokers are concerned with, as a means of increasing trading volume.

“We are proud to announce our collaboration with IBFX, a global leader in the forex industry” said Leon Yohai, founder and CEO of ZuluTrade yesterday on behalf of his company.

“Both ZuluTrade and IBFX share the notion that in order to offer an exceptional forex trading experience, one must invest heavily in technology. We are certain that our common goals and ambitions will result in a long and prosperous partnership” concluded Mr. Yohai.

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