ThinkMarkets, a retail FX and CFD trading services provider headquartered in London and Melbourne, has launched a copy trading platform accessible through an app, the company announced today (Friday).

ThinkMarkets Floats Copy Trading App

Dubbed ThinkCopy, the copy trading platform lets users filter traders using specific criteria, allocate funds to their chosen traders, and access various management tools, such as those for profit and stop-loss orders. Besides, the app provides users access to a global community of traders to share insights.

The launch occurred as ThinkMarkets is preparing to go public through a reverse merger deal with a Canada-listed blank check company, FG Acquisition Corporation, with the listing expected to happen in July 2023.

"Copy trading is very popular for clients just starting out on their trading journey," Faizan Anees, ThinkMarkets' Co-Founder and Managing Director, commented, adding that: "clients will have the ability to see the performance of top traders, allocate funds, and set auto-copy trades."

ThinkMarkets has been working on enhancing its proprietary trading platform ThinkTrader Web, having announced an upgrade in February that would allow traders, among other things, to prepare their strategies using a full economic calendar and to reach out to the client support team directly.

ThinkMarkets Boosts Security Ahead of Listing

The trading service provider's platform, which offers clients access to the MetaTrader 4 and 5 platforms, is focusing on enhancing security ahead of the anticipated listing. At the beginning of the year, the multi-asset online broker added a new security feature to prevent fraud.

According to the company, the one-time password (OTP) verification feature lets users request an OTP from anyone claiming to be from the company and input the password into their ThinkPortal account to confirm the person's identity.

"With fraudulent calls becoming common among online traders, the security of your information is paramount to us," ThinkMarkets said, explaining further that: "If you receive a call from a representative of ThinkMarkets, you now have the option to request an OTP from the caller."

In other news, ThinkMarkets has partnered with Acuity Trading, a platform that uses artificial intelligence (AI ) for market analysis. Through the partnership, ThinkMarkets plans to onboard Acuity Trading's Signal Centre tools to provide market insights for its users.