HotForex, which deals in CFDs brokerage and retail foreign exchange, will deploy a new copy trading system dubbed HFCopy to clients across the globe. The company is working with several accredited subsidiaries to bring on board clients in different regulatory jurisdictions. The firms that will operate under HF Group, the umbrella firm, include regulated brokers in Mauritius, Cyprus, Saint Vincent and the Grenadines, and South Africa.
HotForex’s copy trading platform will make it possible for clients to follow strategies that the selected traders provide. They can then copy their trades on their HotForex accounts. HotForex’s copy trading platform is unique because the firm created it from scratch after investing in technology and in-house specialist solutions for some time.
The Copy Trading Platform is a Proprietary Development
The aim of the proprietary HFcopy product is to use brokers to facilitate trading for clients who are now profoundly knowledgeable on financial markets. HotForex focuses on novice traders because its platform is very easy to use.
HFcopy is encouraging traders to share their strategies because this will help them get a sizable performance fee of up to 35% of the followers’ winnings. The traders that will readily share their expertise can qualify for a Strategy Provider account that helps them receive their rewards while still trading on their account. They can then net profits to their followers.
A HotForex representative who commented on the launch of HFcopy said that the goal of the product is to provide clients with the latest in trading. Nonetheless, the company also prioritizes protecting clients by allowing them to have total control over their funds.
The spokesperson explains that it is possible for followers to decide the amount they are willing to risk, determine the percentage of their volume allocation, and access their account to keep an eye on the trading, close positions, or stop following an account whenever they want to.
HotForex will pay the Strategy Providers once a month. The calculation of the providers’ Performance Fees will adhere to a predetermined set of standards.