The number of copy traders (followers) earning a net profit in the third quarter this year on FOLLOWME, a social Trading Platform
Trading Platform
In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools.
In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools.
Read this Term from China, has increased by nearly 9 percentage points compared to the first half of the year, reaching 48.4%.
This also represents the highest profit–to-loss ratio among the three types of traders: copy traders, traders (signal providers) and individual traders.
Among traders, profitable accounts accounted for 31.1% while the loss-making accounts accounted for 68.9%. Compared with the first half of the year, the ratio of profitable accounts has increased by nearly 10%.
On the other hand, under the independent traders’ category, the profitable accounts accounted for only 25.1%, which was significantly lower than traders.
In the third quarter of 2020, the total number of trading orders in the FOLLOWME community was approximately 4.83 million, an increase of 18.6% from the second quarter.
Key Takeaway: With the on-going volatile environment, we highly recommend individual traders out there to have a Risk Management
Risk Management
One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, most brokers employ a risk management department tasked with analyzing the data and flow of the broker to mitigate the firm’s exposure to financial markets moves. Why Risk Management is a Fixture Among BrokersTraditionally the company is employing a risk management team that is monitoring the exposure of the brokerage and the performance of select clients which it deems risky for the business. Common financial risks also come in the form of high inflation, volatility across capital markets, recession, bankruptcy, and others.As a countermeasure to these issues, brokers have looked to minimize and control the exposure of investment to such risks.In the modern hybrid mode of operation, brokers are sending out the flows from the most profitable clients to liquidity providers and internalize the flows from customers.This is deemed less risky and are likely to incur losses on their positions.This in turn allowing the broker to increase its revenue capture. Several software solutions exist to assist brokers to manage risk more efficiently and as of 2018, most connectivity/bridge providers are integrating a risk-management module into their offerings. This aspect of running a brokerage is also one of the most crucial ones when it comes to employing the right kind of talent.
One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, most brokers employ a risk management department tasked with analyzing the data and flow of the broker to mitigate the firm’s exposure to financial markets moves. Why Risk Management is a Fixture Among BrokersTraditionally the company is employing a risk management team that is monitoring the exposure of the brokerage and the performance of select clients which it deems risky for the business. Common financial risks also come in the form of high inflation, volatility across capital markets, recession, bankruptcy, and others.As a countermeasure to these issues, brokers have looked to minimize and control the exposure of investment to such risks.In the modern hybrid mode of operation, brokers are sending out the flows from the most profitable clients to liquidity providers and internalize the flows from customers.This is deemed less risky and are likely to incur losses on their positions.This in turn allowing the broker to increase its revenue capture. Several software solutions exist to assist brokers to manage risk more efficiently and as of 2018, most connectivity/bridge providers are integrating a risk-management module into their offerings. This aspect of running a brokerage is also one of the most crucial ones when it comes to employing the right kind of talent.
Read this Term strategy in place and also make use of our COPYTRADE feature to enjoy a fruitful trading experience with the experienced traders and other copy traders.
Top 20 Brokers’ Profitable Accounts Improved Despite Lower Signups
In this quarter, the forex industry continued to be positively affected by COVID-19. The average percentage of profitable trading accounts of active Brokers in the FOLLOWME community was 25.5%, an increase of 3% points from the first half of the year.
This is despite the fact that the average number of trading accounts has decreased by 24.1% to 322 compared with the first half of the year.
A total of 233 Brokers were active in the FOLLOWME community, with approximately 15,000 active accounts and 4.83 million orders.
We are pleased to see this improvement among the brokers in the latest quarter as this will allow our users to benefit from the best traders in the industry.
Among them, the profitable accounts ratio of the top five has improved significantly, and GKFX – the best in the group saw an increase of 14% compared with the first half of the year.
In the latest quarter, GKFX had the highest ratio of profitable accounts, at 41.8%, followed by FBS and Swissquote, at 38.3% and 34.6% respectively.
On another note, although IC Markets replaced the regulator in the third quarter, IC Markets has become the most popular trader among the new users on FOLLOWME Trading Community due to its low spreads.
It shows that when a new user chooses a Broker, the platform spread is a very important factor.
Among them, the top 20 Brokers saw an average order number of accounts above 110, and the highest is 936, which is an increase from 760 in the first half of the year.
On top of that, we also want to highlight another significant improvement in the efficiency of the copy trade orders handled by these brokers.
The total copy trade orders in the third quarter were about 800,000, of which 676,000 were opened and closed within ONE second, accounting for 84.5%, compared with 76.1% in the first half of the year, and this indicated an improvement in their order processing efficiency.
If you want to get the full insights, read our latest report as featured here. For more information, visit www.followme.com
About FOLLOWME
Founded in 2015, FOLLOWME is a social trading network designed to establish connection with Foreign Exchange investors from around the world. Within this community, users can share their trading experiences, strategies and exchange ideas with other investors.
FOLLOWME currently has over 600,000 registered users from more than 170 different countries. FOLLOWME works with more than 3,000 Brokers worldwide and supports our users to link their accounts within one platform. FOLLOWME has various tools for users to start investing, one of it is our COPYTRADE system, which allows users to automatically follow traders’ portfolio.
FOLLOWME mobile application is available on the App Store and on Google Play.
Disclaimer: The content of this article is sponsored and does not represent the opinions of Finance Magnates.
The number of copy traders (followers) earning a net profit in the third quarter this year on FOLLOWME, a social Trading Platform
Trading Platform
In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools.
In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools.
Read this Term from China, has increased by nearly 9 percentage points compared to the first half of the year, reaching 48.4%.
This also represents the highest profit–to-loss ratio among the three types of traders: copy traders, traders (signal providers) and individual traders.
Among traders, profitable accounts accounted for 31.1% while the loss-making accounts accounted for 68.9%. Compared with the first half of the year, the ratio of profitable accounts has increased by nearly 10%.
On the other hand, under the independent traders’ category, the profitable accounts accounted for only 25.1%, which was significantly lower than traders.
In the third quarter of 2020, the total number of trading orders in the FOLLOWME community was approximately 4.83 million, an increase of 18.6% from the second quarter.
Key Takeaway: With the on-going volatile environment, we highly recommend individual traders out there to have a Risk Management
Risk Management
One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, most brokers employ a risk management department tasked with analyzing the data and flow of the broker to mitigate the firm’s exposure to financial markets moves. Why Risk Management is a Fixture Among BrokersTraditionally the company is employing a risk management team that is monitoring the exposure of the brokerage and the performance of select clients which it deems risky for the business. Common financial risks also come in the form of high inflation, volatility across capital markets, recession, bankruptcy, and others.As a countermeasure to these issues, brokers have looked to minimize and control the exposure of investment to such risks.In the modern hybrid mode of operation, brokers are sending out the flows from the most profitable clients to liquidity providers and internalize the flows from customers.This is deemed less risky and are likely to incur losses on their positions.This in turn allowing the broker to increase its revenue capture. Several software solutions exist to assist brokers to manage risk more efficiently and as of 2018, most connectivity/bridge providers are integrating a risk-management module into their offerings. This aspect of running a brokerage is also one of the most crucial ones when it comes to employing the right kind of talent.
One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, most brokers employ a risk management department tasked with analyzing the data and flow of the broker to mitigate the firm’s exposure to financial markets moves. Why Risk Management is a Fixture Among BrokersTraditionally the company is employing a risk management team that is monitoring the exposure of the brokerage and the performance of select clients which it deems risky for the business. Common financial risks also come in the form of high inflation, volatility across capital markets, recession, bankruptcy, and others.As a countermeasure to these issues, brokers have looked to minimize and control the exposure of investment to such risks.In the modern hybrid mode of operation, brokers are sending out the flows from the most profitable clients to liquidity providers and internalize the flows from customers.This is deemed less risky and are likely to incur losses on their positions.This in turn allowing the broker to increase its revenue capture. Several software solutions exist to assist brokers to manage risk more efficiently and as of 2018, most connectivity/bridge providers are integrating a risk-management module into their offerings. This aspect of running a brokerage is also one of the most crucial ones when it comes to employing the right kind of talent.
Read this Term strategy in place and also make use of our COPYTRADE feature to enjoy a fruitful trading experience with the experienced traders and other copy traders.
Top 20 Brokers’ Profitable Accounts Improved Despite Lower Signups
In this quarter, the forex industry continued to be positively affected by COVID-19. The average percentage of profitable trading accounts of active Brokers in the FOLLOWME community was 25.5%, an increase of 3% points from the first half of the year.
This is despite the fact that the average number of trading accounts has decreased by 24.1% to 322 compared with the first half of the year.
A total of 233 Brokers were active in the FOLLOWME community, with approximately 15,000 active accounts and 4.83 million orders.
We are pleased to see this improvement among the brokers in the latest quarter as this will allow our users to benefit from the best traders in the industry.
Among them, the profitable accounts ratio of the top five has improved significantly, and GKFX – the best in the group saw an increase of 14% compared with the first half of the year.
In the latest quarter, GKFX had the highest ratio of profitable accounts, at 41.8%, followed by FBS and Swissquote, at 38.3% and 34.6% respectively.
On another note, although IC Markets replaced the regulator in the third quarter, IC Markets has become the most popular trader among the new users on FOLLOWME Trading Community due to its low spreads.
It shows that when a new user chooses a Broker, the platform spread is a very important factor.
Among them, the top 20 Brokers saw an average order number of accounts above 110, and the highest is 936, which is an increase from 760 in the first half of the year.
On top of that, we also want to highlight another significant improvement in the efficiency of the copy trade orders handled by these brokers.
The total copy trade orders in the third quarter were about 800,000, of which 676,000 were opened and closed within ONE second, accounting for 84.5%, compared with 76.1% in the first half of the year, and this indicated an improvement in their order processing efficiency.
If you want to get the full insights, read our latest report as featured here. For more information, visit www.followme.com
About FOLLOWME
Founded in 2015, FOLLOWME is a social trading network designed to establish connection with Foreign Exchange investors from around the world. Within this community, users can share their trading experiences, strategies and exchange ideas with other investors.
FOLLOWME currently has over 600,000 registered users from more than 170 different countries. FOLLOWME works with more than 3,000 Brokers worldwide and supports our users to link their accounts within one platform. FOLLOWME has various tools for users to start investing, one of it is our COPYTRADE system, which allows users to automatically follow traders’ portfolio.
FOLLOWME mobile application is available on the App Store and on Google Play.
Disclaimer: The content of this article is sponsored and does not represent the opinions of Finance Magnates.
