Leverate has announced to Forex Magnates today, December 4th, that Sirix copy trading volumes have quadrupled in the past 14 weeks.
According to the FX software provider, Leverate, the increase in volume resulted from the implementation of the Sirix Community, which incorporates the traders of many different brokers in one platform without sharing the identity of the specific broker they are using to the followers.
The Sirix platform is a component of Leverate’s turnkey package of white label brokerage solutions, and the platform is fully customized according to each broker’s brand image.
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Leverate’s Senior Product Manager Shai Kritz, told Forex Magnates in the announcement: “Although we can’t share the exact stats, we can say that after incorporating Sirix into a multi-broker community, it has indeed resulted in a massive growth in copy volume. We have also seen that it increases the average first deposit and trading volumes.”
The recent launch of the Sirix Community added other new features to the Sirix platform, including standardizing how instruments are mapped across brokers offering the platform, and customization of tolerances for price differences between master traders and copiers.
Copy trading was first introduced to the Sirix platform in late 2012, to allow traders to find and mirror the trading strategies of other members of the Sirix Community, offering FX trading beginners access to a pool of existing traders, to use as a guide for choosing positions.