Social trading software developer ZuluTrade has just finalized an acquisition deal with Formax Group, giving the latter control of the popular copy trading pioneer.
ZuluTrade was founded in 2007 by Leon Yohai, its current CEO, who confirmed the matter to Finance Magnates.
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Founded in 2012 by Bill Wang, who is its Chairman and CEO, Formax Group provides products like HK and US stocks, forex, P2P, small and micro loans and other internet finance-related products and services. It offers integrated and comprehensive financial products and services that belong to wealth management, investment consulting and consume financial credit fields.
It has established many subsidiaries around the world, including China, the UK, Australia, New Zealand, Hong Kong and Vietnam, and opened branches in 33 major cities in China including Beijing, Tianjin, Shanghai, Shenzhen, Guangzhou, Wuhan and Chengdu.