Brokeree Solutions, an Estonia-based forex (FX) technology provider offering plugins to MetaQuotes trading platforms, announced on Monday that FX software company XCritical integrated Brokeree's Social Trading solution into its customer relationship management (CRM) system.
XCritical Integrates Social Trading from Brokeree
According to the press release, with the integration of Brokeree Social Trading in XCritical's CRM, retail traders will access copy trading offering directly from their account area. Users can copy trades from the MetaTrader 4 and MetaTrader 5 platforms with a few clicks, quickly react to market changes and manage their trading process.
"Social Trading is an investment system that enables traders to act as trading signal providers and followers, thus they may copy trades from each other. For several years industry experts were highlighting the growing popularity of such services, and in 2022, we saw an increasing number of brokers introducing copy trading services," the press release stated.
The new and updated Social Trading cross-server was released in June 2022. Finance Magnates had an opportunity to test its risk-management system after the update. It eliminates operational and infrastructural risks for brokers and offers reliable and understandable protection mechanisms for traders.
"At Brokeree Solutions, we know that brokers rely on the stability and software robust performance, especially for large trading volumes," Victor Ivanov, the Regional Head of Business Development (EMEA) at Brokeree, commented.
"The cross-server Social Trading combines the reliability and predictability of earlier versions of the investment platform and an entirely new functionality that opens up unprecedented freedom of action for brokers."
Watch the recent FMLS22 panel on social trading for the era of social media.
Brokeree Promotes New EMEA Head of Business Development
In the middle of last year, Brokeree Solutions appointed Victor Ivanov as the Regional Head of Business Development for the EMEA region. Previously, he held the position of Business Development Executive.
Ivanov's new role focuses on growing the company's business in Africa, the Middle East and the European Union. He creates and maintains new partnerships, and expands the local development team.
"I am glad to take an active part in the new stage of development of Brokeree Solutions. I'm eagerly looking forward to the new role with its new challenges and opportunities," Ivanov said in a statement.
Social Trading on the Rise
Social Trading has enjoyed enduring popularity over the years, and in the age of social media, it seems more relevant to individual traders than ever before. This is evident in the growing range of tools and solutions aimed at traders who want to copy the transactions of more experienced traders and those who want to share those transactions.
Last week, Titan FX unveiled a new mobile app custom-built in partnership with Pelican Trading, called Copy Social. The app allows users to chat with other traders, follow experienced mentors and share tips with users around the world.
Last December, Vantage, another popular name in the FX space, expanded its service by launching social trading on its mobile application. The service was initially launched in August and was made available on smartphones and tablets a few months later.
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.
