27 April AtoZForex, Lagos — Innovation comes in different forms, shapes and sizes. Yahoo's retail FX broker, YJFX has adopted a rather interesting new concept. YJFX launches new social trading system and the latest creation goes by the name Trade Collector. More specifically, it is a new social trading platform which combines features of traditional card gaming with trading functions, in order to create an automated trading scenario.
Trade Collector works by categorising trade providers and trade copiers into card collectors and card players respectively. The idea is such that card creators are those whose trade ideas are being followed, with the information regarding their trades exhibited in ranking of cards. Card players on the other hand are the traders who choose to follow these trade ideas presented by the card creators. A unique style of copy trading in actual sense, but with a gaming twist to it.
YJFX launches new social trading system in May
As YJFX launches new social trading system, the service of the broker is scheduled to go live for the 11th of May, 2015. Registration of users has commenced since April 25, 2015. A card player has the liberty to choose cards and include them in "My collection", which represents a list of trader providers being followed. The automated system is then activated for trading, following of course the selection of five card creators.
The company seems to be going through a development phase as they recently announced the seizure of GulliverFX, the UK Forex subsidiary of Yahoo Japan Corporation. The firm announced it has stopped accepting new clients accounts application from April 1st, as it has suspended its MT4 service. The FCA regulated GulliverFX has asked its clients to close their open positions and withdraw their funds.
Think we missed something? Let us know down in the comments section.