Moneta Markets Launches the Ultimate Copy Trading App

<p>Leading CFD broker, Moneta Markets, has partnered with Pelican Trading to offer its clients access to automated copy trading on iOS and Android devices. We spoke with Moneta Markets’ Founder and CEO David Bily, to catch up on their latest launch in what has already been an action-packed year.</p><p>Thanks for taking the time to chat, David. Congrats on the launch of the Moneta Markets <a href="https://www.monetamarkets.com/trading/platform/copytrader/" target="_blank" rel="follow">Copy Trading App</a>. What spurred the desire to launch a copy trading service of your own?</p><p>Offering our clients and partners access to a social trading service is something that we receive a lot of demand for, so we have had this in the Pipeline for a while now. Off the back of the completion of our AppTrader for iOS and Android, it was time to switch our focus to the development of our own Copy Trading service. Previously, the social trading scene was dominated by providers like ZuluTrade, but as demand increased for an alternative solution we wanted to shift in that direction to gain market share. There are a few apps that are already on the market, however, in testing, we found that they didn’t really meet the requirements of our clients. Transparency of traders and platform reliability are paramount, as are the quality and variety of signal providers. That’s why we chose to partner with Pelican Trading and use their robust infrastructure as a base to build off. </p><p>Can you take us through some of the features of Moneta’s Copy Trading App?</p><p>Absolutely, it’s a fantastic tool for both novices and pros to have up their sleeves. Its primary function serves as an automated copy trading solution for clients, a perfect accompaniment to our clients’ AppTrader and MT4 platforms. With over 6,000 pro traders to choose from in the app, it offers an opportunity for our clients to filter and find the strategies that suit their trading style and risk appetite. With transparent recording of trading activity, including drawdowns, PnL, trading history, and more, clients are able to carefully select a portfolio of traders and automatically copy their strategies. Similarly, they can choose to inverse the trades of the signal providers, who aren’t performing well which is quite a niche but valuable feature when it comes to diversification.</p><p>It also serves as a great trading community. Traders can chat amongst themselves, and receive mentorships from the more experienced traders in the community. So, it also functions as a means of bolstering knowledge and trading education.</p><p>Then, the more experienced traders are able to become signal providers themselves and share their trades with the community. This has two primary benefits by way of boosting the reputation of quality signal providers, and it also offers an additional revenue stream by way of receiving a PnL share from their winning trades from their followers. </p><p>I know it’s only early days, but how has the app performed since its launch when it comes to attracting users?</p><p>As I briefly touched on earlier, we already had significant interest from our clients and partners, but we expected that it would take time to gain momentum, like most things. On the contrary, it really has leaped out of the gates. We noticed an uptick in onboarding and trading volume almost immediately, and that continues to increase steadily. Whether you’re a time-poor trader who is looking for a more laid-back approach to the markets, wanting to diversify or complement your existing trading strategies, or become a signal provider, our Copy Trading App really caters to traders of all levels. And, it connects seamlessly with clients’ AppTrader and MT4 platforms, so whatever their preference of platform, they’re able to maintain visibility over trades.</p><p>It also serves as a valuable tool for our network of IBs and Affiliates. Many of our partners are also experienced traders, so they have the ability to become a Signal Provider if they choose. And, from a marketing perspective, it’s a very strong selling point when it comes to attracting and retaining business. In fact, the demand from our partners was on par with that of our clients.</p><p>I’m glad to hear you’re getting results so early into the launch. You and the team have had a productive 2023 so far, so what’s next for <a href="https://www.monetamarkets.com/" target="_blank" rel="follow">Moneta Markets</a>?</p><p>It’s hard to believe it’s already September, the year has flown by but we have managed to accomplish quite a lot. The launch of our bespoke AppTrader app was a major development that has had a great reception to date, the Cashback Bonus program is quickly gaining traction, and now the Copy Trading app is off to a great start. We will gather feedback and look for areas of improvement on an ongoing basis so we can optimize and add new features based on the demand of our clients and technological advancements. Without our clients, we wouldn’t be here, so catering to their feedback and exceeding their expectations is always something we are conscious of.</p><p>For the remainder of 2023, it’s business as usual. We continue to look for areas we can improve upon from a product, technology, and service perspective. Following our MENA launch, we are also focused on continuing our growth in the region and expanding the team in Dubai. We have a few other projects up our sleeve that we are working on, so watch this space over the next several weeks. There’s never a dull moment at Moneta Markets, and we like to keep it that way.</p><p>Thanks for taking the time to introduce your Copy Trading App. Now, we know you often like to showcase when you make a significant announcement, so have you got a sneak peek that you can share?</p><p>My pleasure, it’s always great to catch up and I appreciate you and the team reaching out. And, yes, you know me too well. We have had an amazing promotional video put together to promote the Copy Trading App’s features, I would encourage everyone to <a href="https://youtu.be/SLWQdI3KKsI" target="_blank" rel="follow">check it out here</a>. The animation team has done a fantastic job! </p><p>I encourage anyone reading this to check out our new Copy Trading App and I look forward to seeing you join us at Moneta Markets.</p>

This article was written by FM Contributors at www.financemagnates.com.