Seeking to attract more experienced retail traders, CySEC-regulated retail broker HF Markets (HFM) has announced an expansion of its copy trading offerings with the launch of the "Copy Trading Pro Account." In addition to expanding its copy trading services, HFM is introducing the Japanese yen as a new base currency and offering new features to African traders.
HFM Introduces Copy Trading Pro Account
According to information shared by the broker, the interface will allow users to follow more experienced investors and automate the process of copying their positions. "With the roll-out of our 'Copy Trading Pro Account', we are catalyzing a paradigm shift in our clients' trading methodologies," an HFM spokesperson explained.
The HFM's website states that copy trading services are conducted through HFcopy. The Pro Account complements the existing tool, giving strategy providers new possibilities.
The official announcement provided a somewhat succinct description, suggesting that HFM offers a standard copy trading service, not particularly distinguished from similar offerings by competing brokers. However, Finance Magnates inquired about the details with Chrystanthos Kanari, the Head of Marketing at HFM.
New Base Currency and Facilities for African Traders
According to Kanari, the broker introduced the Japanese yen as a base currency to its portfolio in addition to the Pro Account. More significantly, it allowed South African and Kenyan investors to follow signal providers and strategies beyond their countries (regardless of regulation ).
"This is very important for Kenyan and South African traders, because essentially this means that the list of strategy providers to follow increases exponentially," Kanari commented.
Regarding other recent updates to its offerings, HFM unveiled Kate, a virtual assistant capable of communicating in 120 different languages this year.
HFM is a brand that emerged from the rebranding of the FX/CFD broker HotForex, which has been in the industry since 2010. HotForex announced the name change in the first half of 2022, aimed at reflecting a broader product offering that has long since expanded beyond just currency contracts.
