Via the WhoTrades web interface; with a web-based platform via WhoTrades Pro; from ones’ own computer by downloading the special trading software (Meta Trader 4, Transaq, ROX). Opening an account for a Forex account differs slightly from opening an account on the US and European markets because of the stricter regulations that are applied between the US and European markets. Established in 1997, the Finatrade Group is a leading distributor of raw and processed agri-commodities and consumer products. The Group has invested in a fully integrated logistics infrastructure to control the entire distribution process. Leveraging this infrastructure, Finatrade expanded its business into procurement and processing of agri-commodities and consumer products. LimeFX Holdings expanded internationally by becoming a member of the Frankfurt Stock Exchange and in 2011 it opened offices in Bangkok, Beijing, and New York City.
Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information. Within the FX industry, social and autotrading has proven to be one of the fastest pockets of growth.
As a result, WhoTrades has connected with leading exchanges such as Germany’s XETRA, the NYSE Euronext, and Eurex. In addition to their CySec regulation, they became a registered firm in the US with the SEC and CFTC to offer services to US clients as well as enabling foreign customers to trade on US markets. The company is targeting a global audience, however, its main focus is on Russian speakers as an extension of its LimeFX brokerage services, with its LimeFXFX.ru site. Learning more about WhoTrades, Forex Magnates spoke to Arthur Shponko, Open API Division Manager, to uncover facts about the social network, LimeFX’s entrance to the forex market, and client interest in copy trading. Based on the need, LimeFX built its copy trading product to enable an efficient platform for customers to connect with money managers.
The sector includes well positioned firms such as eToro, Tradency, and Zulutrade, as well as a multitude of autotrade solutions built around the Metatrader platform like EAs and PAMM accounts. Russia has been no exception to the global interest, with local brokers citing high rates of usage for PAMM and similar types of accounts. In addition, Zulutrade has proved to be popular in the country, with the country being one the networks most important markets. WhoTrades offers several different trading accounts and there are different minimum deposit requirements for the different products. For Forex accounts the minimum initial deposit required is $ 100; for US markets the minimum initial deposit is $ 3000; and for European markets the minimum initial deposit is € 3000.
- A new endeavor for LimeFX is the launch of social trading network WhoTrades.
- LimeFX Holdings expanded internationally by becoming a member of the Frankfurt Stock Exchange and in 2011 it opened offices in Bangkok, Beijing, and New York City.
- WhoTrades offers several different trading accounts and there are different minimum deposit requirements for the different products.
- WhoTrades offers two different calendars—an Calendar of Events with a listing of all financial events scheduled across the globe and a separate Corporate Events listing.
Funding to WhoTrades accounts can be made via bank wire, credit cards and a host of online payment programs such as Skrill, Webmoney, Neteller and others. CIFs may provide their services to countries outside the EU provided that they comply with the regulatory regime of the third country. Enjoy our fast and easy online account opening application, and the ability to manage your investments anywhere, anytime. We’ll provide information, tools and a platform to help put your plans in action. Clients can trade on Windows, Mac, iPhone, iPad, Windows Phone and Android using the popular MetaTrader 4 platform. WhoTrades also offers institutional services for those wishing to partner with them as IB’s or white labels.
Provision of Services to Countries Outside EU
In relation to what they will be offering, Bykov stated that they will be offering algorithmic based signals and are currently working on integrating their existing products for LimeFX’s multi asset trading client base. Upon fully integrating, Faunus plans to offer “the possibility to copy trades directly, potentially watch them updated live online or customize the strategy using personal robot” within the WhoTrades platform. A new endeavor for LimeFX is the launch of social trading network WhoTrades. The launch last year, was part of the rebranding of LimeFXFX, where the trading name of the license was changed from LimeFX Limited to WhoTrades. The new initiative combines LimeFX’s forex brokerage along with its auto trading services as a rebranded social network. WhoTrades is still in its infancy, but the firm is aiming to become a multi-asset provider of social trading.
However, accessing a U.S. account via the MMA account requires a deposit of only $200. WhoTrades offers two different calendars—an Calendar of Events with a listing of all financial events scheduled across the globe and a separate Corporate Events listing. Demo trading accounts can be opened on each of available markets once a Standard or Light account has been registered on the website. WhoTrades is domiciled in Seychelles and is regulated by CySec and NFA in the U.S. WhoTrades offers 24 hour support via telephones to their New York and Cyprus offices as well as to India and China.
I found the website somewhat confusing and topics seem to be hidden under inconspicuous tabs. In addition, there is a separate website for U.S. traders and that makes things even more confusing. Qtrade is owned by Aviso Wealth, one of Canada’s largest independent wealth management firms, which is entrusted with over $95 billion of investment assets on behalf of 500,000 clients from coast to coast.
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- Qtrade is owned by Aviso Wealth, one of Canada’s largest independent wealth management firms, which is entrusted with over $95 billion of investment assets on behalf of 500,000 clients from coast to coast.
- Instead, much is written about its U.S. location and the ability for U.S. citizens to trade through what looks like a subsidiary brokerage.
- It has an established global footprint with 90 cities worldwide and a strong international presence with clients in 40 countries.
Partners are listed on the website with the description of their products, marketed on WhoTrades, and given access to presenting webinars. Besides trades in Forex, commodities, indices and stocks, WhoTrades also offers binary options trading with a simple Call-Put option, range and one touch options. A Multi Market Account (MMA) allows simultaneous access to all global and OTC markets with one account.
The service worked with LimeFX approving managers for the platform, and splitting customer commissions with them. WhoTrades (formerly LimeFX) was founded in 2010 and is a social network of traders from all over the world who are interested in trading on international financial markets. Investors can trade Forex, stocks, limefx courses scam stock indices, currency pairs, CFDs, commodities and precious metals. It has an established global footprint with 90 cities worldwide and a strong international presence with clients in 40 countries. DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence.
As a result, when creating Who Trades, they decided to mix both a social network and trading signals together to provide greater diversity of auto trading. Therefore, the network provides traders the ability to follow and copy other members. In addition, WhoTrades is working with approved partners that offer trading signals for traders to copy.
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It is interesting that WhoTrades as well as its former brokerage, LimeFX, were actually started by a Russian businessman but no mention of the Russian connection is made. Instead, much is written about its U.S. location and the ability for U.S. citizens to trade through what looks like a subsidiary brokerage. This is actually a great feature as not many Forex brokers make the effort to be licensed with an American regulatory organization and there cannot accept U.S. traders. Traders with addresses in the United States can trade stocks and options through the Just2Trade platform. For inexperienced traders, WhoTrades offers its “Chain Trading” feature whereby traders can opt to copy the trades of a more knowledgeable trader and benefit from their experience and know-how.
Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts https://limefx.club/ work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering.
Traders can trade stocks, currencies and futures on any exchange in the US, Europe or Asia without opening a separate account for each financial instrument. Traders enjoy low commissions on equity trades and no spreads on Forex trades. The TradeX platform is a system designed to trade the international financial markets. It allows WhoTrades clients the ability to trade on the Moscow Stock Exchange, Xetra, NYSE, and Nasdaq while monitoring real-time commodity and indices quotes. WhoTrades seems to offer traders all they need for a successful social trading experience.