For more than ten years since the first copying trading technologies appeared, significant changes have happened in the fintech market, including the transformation of Social Trading from a major sensation to a familiar reality. Today, it is not enough for brokers to provide traders with the basic opportunity to copy the signals of more experienced traders; they need to offer something unique.
This trend has become especially relevant in the last three years with the new wave of interest in social trading services. To attract new customers or convert existing ones into active users, some brokers try to guarantee clients the qualification of signal providers and offer various bonus programs and more favorable trading conditions.
The investment systems have also changed. Their functionality has evolved per brokers’ requests and the new time challenges. An illustrative example of such an evolution of technology is Social Trading by Brokeree Solutions.
“The first version of Social Trading from Brokeree was released in 2013. We have been developing the solution all these years, expanding its features, and improving it with all the newly acquired knowledge and skills. Today, in 2022, Social Trading is so different from its first version that these two may be considered as two different products in some way,” commented Andrey Kamyshanov, co-founder and managing partner of the company. “This concentration, elaboration, and consistent development in one specific area helps our specialists and the company to gather the expertise necessary for the continuous development of a specific technology.”
Social Trading is primarily designed to allow traders to share and copy trading signals. To do this, the system divides all traders into two main categories – signal providers and followers, providing each group with unique functionality. In June 2022, Brokeree Solutions, a technology provider for MetaTrader brokers, announced the first intra-brokerage cross-server Social Trading. How does it differ from other solutions on the market, and what is the advantage of the newly announced functionality for brokers?
Operating with several MetaTrader servers
Brokers, especially those with a large client base, use multiple MetaTrader 4 and 5 servers in their infrastructure to efficiently manage client groups and accurately configure trading conditions for each. Brokers may divide clients into different groups or servers on various bases, including a region of registration, connected liquidity provider, or roles of traders in investment systems, i.e., in Social Trading, there are signal providers and followers. During operation with these entities, it is crucial for the administrator to simultaneously configure and monitor platforms without having to re-login.
The Social Trading by Brokeree Solution has multi-server functionality. Hence administrators and clients can operate with different MetaTrader 4 and 5 servers in a few clicks. This system mobility helps users to quickly react to market changes and comfortably control the trading process on all connected accounts and servers.
However, multi-server functionality guarantees the convenience of using several trading accounts and servers simultaneously, but does not imply an interaction between them. Thus, followers and signal providers on different MetaTrader servers don't have the opportunity to share and copy trading signals to increase profits. In practice, this limitation creates many severe obstacles for the brokers’ business scaling.
For instance, an MT4 broker with an extensive client base, including a base of signal providers, decided to expand their business and launch trading on MT5. Without cross-server functionality on Social Trading, they will have to establish a totally new client base for a new platform.
Now with the recently announced cross-server functionality of Social Trading, brokers may unite clients from all servers into a single investment pool to share and copy trading signals without technical limitations.
Flexible settings
The advanced functionality of the investment system not only allows users to operate with multiple servers, but also enables them to configure almost every button to accurately control trading conditions. The administrators may fine-tune specific rules for each account, group, or role, creating a unique trading offer. This flexibility of settings determines the attractiveness of the services provided by brokers to potential clients and helps to use the system according to specific business objectives.
Integrability
Complicated ecosystems of brokers often include additional portals like CRM systems or IB rooms. Brokeree’s Social Trading may be easily integrated with such systems, helping brokers to smoothly launch copy trading services without long technical preparations. Moreover, this integrability guarantees that with the solution’s implementation, clients still will operate with familiar interfaces. To mitigate possible differences, the Social Trading UI or even functionality may be upgraded as per brokers’ business needs via API solutions.
Leaderboard and trading statistics
There are additional means to make the investment system more convenient and attractive for clients. The copy trading technology implies the choice of a signal provider by a follower based on trading statistics and trust. Usually, solutions provide the followers with unclear trading statistics that may be difficult to understand, especially for new traders – a key target group for investment systems’ potential users. Moreover, the interface of the platforms may not allow traders to quickly compare several providers' trading results, group them, or sort according to specific criteria.
Social Trading by Brokeree Solutions comes with a special Ratings Module solution that is also compatible with PAMM. The Ratings Module generates widgets with trading information of signal providers and money managers by selecting indicators from the suggested list or adding custom values. Brokers can add the widgets to their website in a few clicks and display them in three variants: tables, graphs, or cards.
To conclude, Social Trading in 2022 is a comprehensive system that covers a wide range of brokers’ requests. This solution lets them create and accurately configure unique trading offers, control platform performance, connect traders from different servers and allow them to invest in each other, and add attractive statistics to the website. The quality of the technology is crucial because unreliable or too sophisticated products may decrease the level of the broker's investment services and make the offering less enticing to the client.
Brokeree Solutions
Brokeree Solutions is a leading technology company specializing in turnkey solutions development, trading platform servicing, and consultation for retail brokers running MetaTrader 4 and 5. The company’s portfolio provides clients with flagship investment systems like Social Trading and PAMM.
