ZuluTrade and Moneta Markets agree to a trading arrangement
Moneta Markets expanded its social trading offerings by integrating ZuluTrade into its platform in response to the growing demand in the social trading space. This is not the broker’s first expansion; in fact, it previously merged this service with renowned trading firm Duplitrade.
ZuluTrade is the largest automated peer-to-peer social trading platform available, so we’ve always wanted to provide our customers access to it. However, the founder and CEO of Moneta Markets remarked, “We wanted to make sure we were set up to truly get the most out of it. ZuluTrade’s move to integrate came with an increase of its product line, better trading pricing, and stronger infrastructure.
The Rise of Copy Trading
The introduction of copy trading has greatly increased the appeal of traders with less experience. This service’s market share has increased at a compound annual growth rate of 7.8%. It is anticipated that the aforementioned figures will surpass the $2.2 billion milestone reached at the end of 2021 and reach $3.77 billion by 2028.
When it comes to providing a copy trading service, ZuluTrade has taken the lead along with the likes of eToro. With the intention of marketing the concept to a large clientele, the company has expanded the service to dozens of brokers.
At the end of 2021, the Finvasia Group purchased the trading platform, which had been launched in 2007. The transaction involved AAAFx, a broker with a license issued by Greece, and no financial details were made public.
ZuluTrade intends to broaden its reach internationally while continuing to apply for new regulatory permits. The exchange is also pushing to upgrade its current social trading platform with additional features.
“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 continued. “By introducing an additional platform that allows clients to trade and invest without the need to constantly watch the markets, we are opening the door to an additional category of traders.”
Although Moneta was established in 2020 and began operations as a subsidiary organization, the broker is currently running on its own. St. Vincent and the Grenadines, South Africa, and Australia are among the broker’s operational jurisdictions.
These third-party platforms have cut off any potential collaboration with dubious brokers that hold illegitimate licenses and offshore authorization.
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