Social trading is regaining popularity as the new EU regulatory framework bites. As demonstrated by the filings of brokers, the profitability of retail clients appears to be different at brokers who are providing a social aspect to their clients.
Companies such as Darwinex and eToro stand out among brokers with a relatively high level of winning clients. Today, one of the big trading platform providers in the industry is contributing with a new product suite designed to enter the space.
From cMirror to cTrader Copy
Spotware has announced the deployment of cTrader Copy, a software product that is replacing cMirror. The feature is fully integrated within the trading platform and is a flexible investment program.
The company has paid attention to client feedback and deployed a much simpler solution. The product features more automation and delivers an effective visual representation to clients about performance analytics.
Spotware has also improved the copying model and revamped it with a new fees structure. The changes are designed to attract more Strategy Providers and Investors.
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“We believe the flexibility of the solution and its revamped model will have a great success among any type of traders,” commented Panagiotis Charalampous, Head of Community Management at Spotware.
Simplifying Copy Trading
The new interface is enabling followers to quickly select and change active trading strategies. The system is recalculating and adjusting the copied volume according to the Strategy Provider’s and Investor’s Equity. It also takes into account any allocated amount changes due to the deposits and withdrawals of both parties.
Every followed strategy is now separated into a field called “Copy Trading Accounts”. Investors can predefine an Equity Stop Loss per strategy. Increasing or decreasing funds allocated to the particular strategy is straightforward. The fees are also now calculated for each copy trading account independently.
To the benefit of system providers, aside from Volume Based Commissions, they can now charge performance fees when a certain returns threshold is reached and management fees in annual percentage of an investors’ equity.
Setting a minimum investment amount also allows strategy providers to have a meaningful return.
All the data is presented in the newly redesigned dashboard with extended Advanced Analytics per Strategy Profile providing Investors with rich insights on performance and behavior of each strategy.