Retail FX/CFD trading company SquaredFinancial has unveiled a new Social Trading tool for the MetaTrader 4 (MT4) platform, expanding its suite of trading solutions. The feature aims to enhance the user experience by enabling traders to mirror the strategies of top performers across different MetaTrader versions.

SquaredFinancial Brings Social Trading to MT4

The Social Trading tool allows MT4 users to copy trading strategies from both MT4 and MT5 platforms, providing a cross-server solution that bridges the gap between the two popular trading interfaces.

According to a press release from SquaredFinancial, the solution works both ways. Users who regularly use MT5 can also copy and follow the strategies of traders using earlier versions of the platform.

“MT4 enthusiasts, whether beginners or professionals, can now mirror top-performing trading strategies with full control of their positions,” the company commented.

Some time ago, SquaredFinancial released a refreshed version of its mobile app, which allows users not only to manage their accounts but also to trade from anywhere.

Shortly before that, the broker also introduced a revamped partnership program and a revamped partners' website. As part of this, it offers up to 70% of spreads and $1,200 per CPA.

Towards the end of last year, the FX/CFD trading-focused fintech company implemented a fraud prevention framework. In response to recent instances of financial misconduct within the trading sector, the firm has taken steps to enhance its compliance and risk management capabilities. This includes expanding relevant teams and refining processes to identify and respond to potential fraudulent activities more effectively.

Why Retail Traders Choose Social Trading

Social trading enjoys immense popularity among retail investors, which brokers are keen to capitalize on. A month ago, eToro launched the "Live Trades" feature, showing real-time transactions of experienced investors.

Retail traders are increasingly turning to social trading for several compelling reasons:

• Accessibility for beginners
• Learning opportunity
• Time-saving
• Community engagement
• Diversification
• Transparency
• Potential for passive income
• Risk management

Additionally, in March, the Polish fintech company XTB also launched social trading, allowing interested clients to follow the portfolios of the more experienced investors.