The Melbourne and London-headquartered CFD and FX trading platform ThinkMarkets announced a copy trading app on Friday (9 June), dubbed ThinkCopy. That comes as the copy trading strategy sees increased traction among market participants.
ThinkMarkets Introduces Copy Trading
ThinkMarkets’ copy trading app allows users to use a specific approach to filter trades. The platform allocates money to traders and uses different management tools, including profit & stop-loss orders. Moreover, the application allows people to access an online community of investors that share valuable insights.
The latest move comes when ThinkMarkets plan to attain public listing via a reverse merger with Canada-listed FG Acquisition Corporation. The firm will likely go public in July 2023. ThinkMarkets’ managing director and co-founder Faizan Anees commented on the launch, stating that copy trading is gaining popularity among newbies. He trusts investors will benefit from auto-copying experienced participants.
Moreover, ThinkMarkets has been improving its ThinkTrader Web since announcing an update in February to allow investors access to various things, including an economic calendar and an option to contact support staff directly.
ThinkMarkets Enhances Security
The trading service provider allows users to access MetaTrader 4 & 5 platforms. Meanwhile, ThinkMarkets has shown increased dedication to improving security ahead of its awaited public listing. The multi-asset broker added a security function to prevent scam activities early in January.
The company’s one-time password verification allows clients to request an OTP from individuals claiming to be ThinkMarkets’ staff and use the password to confirm their identity. Indeed, data safety is essential, considering the increased fraudulent activities.
ThinkMarkets has had a remarkable 2023, including its latest moves to go public with FG Acquisition Corp. The deal will value the former at an impressive $160M on a pre-cash basis. Moreover, the transaction will see the combined firm operating as ThinkMarkets Group Holdings Ltd and potentially listed on Toronto Stock Exchange.
Also, ThinkMarkets plants a private placement to raise around $20M via convertible debentures issuance. That comes as the firm seeks funds for its new growth strategy, general corporate needs, and working capital.
What are your opinions about copy trading as an investment strategy for online investors?
