Turkish forex brokerage Integral Menkul has formed a partnership with Tradency in order to offer the Mirror Trader social trading product to its new and existing clients. Based in Instanbul, Integral Menkul offers services such as stock transactions, short-selling, credit-based transactions, derivative exchange and forex transactions with a commission rate of $2 per $10,000.
Social trading has gained considerable popularity in recent times, and on this basis Integral Menkul expects that the mirror trading concept will open a new gateway for investing in Forex, allowing their clients an easy transition to live trading. The growth of this segment spurred a change of business model by Tradency in which a flat monthly user fee is charged in place of spread mark-up. This helped gain a further 30,000 clients via its partnership in Japan with Invast Securities.
The Mirror Trader product serves Integral Menkul as a new marketable platform with high client lifespan, higher activity and ability to attain clients previously out of reach. The recent addition of CFD copy trading by Tradency will certainly give more opportunities to its partners with which to increase trading volume. “The addition of Mirror Trader to our offering will appeal to our traders because it combines “classic” trading features with managed & monitored social trading capabilities.” Said Niyazi Yılmaz, Treasury Director at Integral Menkul. “The Mirror Trader’s “Trade-by- Knowledge” approach to social trading ensures our clients receive accurate and valuable information provided by tested and proven strategy providers.”
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Since its inception in 2005, Tradency has been delivering strong, stable and scalable trading technology to more than 40 market leading financial institutions around the world. Turkey is currently the last in a long line of global financial markets to embrace the Mirror Trader platform.
Tradency’s VP of Sales, Oz Golan spoke about the partnership: “Integral Menkul is a strong and valuable player in the near east financials markets. We are very pleased it had decided to extend the Mirror Trading solution and services to its entire client base. We at Tradency believe in the Turkish market and we’re sure this strong partnership will benefit both our companies and the many platform users”