Moneta Markets Clicks A Trading Deal With ZuluTrade
With the expanding trading ground with Moneta Markets, the company extended its social trading offerings by adding ZuluTrade to its platform. This expansion is not the first the broker has offered as it earlier integrated this service with Duplitrade, a renowned trading firm.
“We have always intended to offer clients access to ZuluTrade, simply because it’s the largest automated peer 2 peer social trading platform out there. However, we wanted to ensure we were set up to really get the most out of it,” the Founder, and CEO of Moneta Markets said.
The choice to settle with the ZuluTrade integration decision was accompanied by its product range expansion and improved trading pricing and infrastructure.
The Secret Behind Copy Trading
The introduction of copy trading has created a massive attraction to traders with less trading skills. This service in the industry has grown with an annual compounded rate of 7.8 percent. The stated figures are expected to get off the $2.2 billion mark witnessed at the end of 2021 and rise to $3.77 billion by 2028.
ZuluTrade has taken quite a lead in offering the copy trading service. The company has extended the service to dozens of brokers with a target of selling the idea to a wide client base.
The trading platform was founded in 2007 and it was later acquired by the Finvasia Group at the end of 2021. The deal involved a Greek-licensed broker, AAAFx, and the price was not disclosed to the public.
ZuluTrade purposes to expand its presence globally as they continue seeking new regulatory licenses. The exchange is also pushing to add new capabilities to its existing social trading platform.
“By introducing an additional platform that allows clients to trade and invest without requiring the need to constantly watch the markets, we are opening the door to an additional category of traders who want to dabble in the markets, but may not yet have the know-how,” Bily added.
Moneta was launched in 2020 and kicked off its operations as a subsidiary body but the broker is currently operating on its own. The broker has operating jurisdictions in Australia, South Africa, St. Vincent, and the Grenadines.
Apparently, third-party trading providers have taken caution on the increasing usage of the platform by scammers after Apple blocked MT4 and MT5 from its Appstore.
These third-party platforms have distanced the partnership that may rise with shady brokers in possession of illegal licenses and illegal offshore approvals.