Mobile-centric app for social trading SwipeStox is launching a brand new generation of its platform in Apple’s iOS App Store. The company has pioneered a concept that mixed some aspects of social dating app Tinder with a trading application where traders can copy each-other’s trades.
The move comes as the company reaches about
$6 billion in monthly trading volumes through the application. Users whose trading ideas are copied get cash bonuses and therefore can earn additional money credited to their balance.
SwipeStox has been gathering speed for the past year with the integration of several brokerages. The mobile app is currently offering its services with over 7 brokers, including names such as FXCM, One Financial Markets and ThinkMarkets.
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The new application will also be available for Android users later in the first quarter of 2017.
The company has made a major redesign, greatly improving trading functionalities and optimizing the account opening process. The latter part of the application has been designed to make switching from a demo account to a real one seamless and easy, while at the same time retaining full compliance.
The company’s founder and CEO Benjamin Bilski shared with Finance Magnates: “With new SwipeStox iOS App we are now paving the way to become like Facebook, but for Trading. The App now has a much faster handling, better sharing functionalities and is based on a complete new Real-Time Trading API.”
“I feel that with the new App we now have the best account opening process in the industry and the most flexible order opening mechanics that you will find in any professional trading app,” Bilski explains.
SwipeStox also launched a major release in September last year with the introduction of its cloud based web application. Bilski elaborated on the trends in its use: “The web app grows on average by 500 percent month-on-month since the start in October. We will also release a new Web interface at the end of February alongside our new Android release.”