Vantage, a major name in the FX and CFDs brokerage space, has expanded its service by launching social trading on its mobile application. Announced on Thursday, the app now supports both regular and social trading.
Though technology has boosted social trading space over the years, the core concept of such services remains the same as one of the old industry features, sharing forex signals. The popularity of social trading exploded in the last decade with an influx of retail traders. It allows rookie or even experienced traders to copy other experienced traders' trading strategies.
Social Trading Is in Demand
Platforms like eToro, ZuluTrade, DupliTrade and Naga are only a few names that have made a significant mark in the copy trading space. Vantage has also been pushing its social trading services for a while now. The retail platform launched such services for its UK clients earlier in August.
"As our active investor profile gets younger, our clients have been more willing to explore and adopt innovative trading methods like social trading, going beyond traditional trading methods," said Lian Jie, the Assistant App Marketing Director at Vantage.
"At Vantage, we understand how technology and innovation can transcend boundaries, so we have utilized the power of technology in our Vantage App to meet the needs of the next generation and provide a seamless and convenient experience for all our clients."
Other retail brokers, which were not offering social trading services to their customer base, have now started to provide such services either by developing proprietary technology or partnering with third-party copy trading service providers. Moneta Markets, which was already offering copy trading with DupliTrade, expanded its services by adding ZuluTrade. In addition, Plus500 launched '+Insights' recently, a tool based on big-data analytics that is a part of the broker foray into the social trading space.
