Author: Joanna Archer, Product Owner, OctaFX
2 Oct 2018
Technology is one of the most significant drivers of the foreign exchange – or forex – trading industry. As technology advances at hypervelocity, trading tools are becoming quicker, more precise and increasingly user friendly every day.
At the same time, the speed of data processing is picking up, creating new opportunities for market analysis, which has ultimately made forex trading more efficient. And, as internet penetration increases, trading is becoming more flexible, with traders able to access the market across various platforms. This makes it possible for more users around the world to engage in trading and benefit from the highest level of financial awareness.
At OctaFX, we strongly believe our success is bound to our clients’ prosperity, and strive to take every possible step to boost their chances of success. Each time we launch a new feature, we ask ourselves two questions: will this allow traders to be more successful? And will this be easy to interact with?
With a view to driving prosperity, we have several new features and activities to offer clients. For instance, we have released a new handy app for those who need to manage business on the go. Our OctaFX cTrader app supports all of the major functionalities of the desktop version.
With Trade and Win, traders can collect prize lots across all of their trading accounts, whether they generate a profit or not
And, for novice traders, we’ve even provided introductory information on the core functionality of our site and supported platforms. Further, we are in the process of developing a full-scale trading academy, which will be open to the public. We believe the academy will become a huge web resource for anyone who wishes to develop their financial awareness.
We are also ready to launch a copy-trading feature, which will allow traders to automatically copy the positions of our master investors. The core idea of this offering is to make the whole business easier to learn and to create a social platform for our traders by fuelling a shared experience. What’s more, copy trading will help minimise risk: imagine an aeroplane that is about to take off. A long time ago, people used to applaud pilots for achieving their primary goal: transporting passengers to their destination.
Today, however, technologies are so developed and pilots are so well trained that getting to the destination is routine and does not bear a significant risk. In our case, the destination is benefitting from forex trading with copy trading, and the pilot is our master trader.
After learning from our master traders, clients can then begin flying on their own, making even more profit. Additionally, demanding traders can track the performance of every master trader and choose whose positions to copy, depending on their performance and preferred trading techniques.
At OctaFX, we have developed a new loyalty programme that allows traders to collect special prize lots, which can then be exchanged for items such as T-shirts and smartphones in our special store. The loyalty programme, called Trade and Win, is available to all traders who use real accounts on any trading platform we support.
Every time traders accumulate an integer value of prize lots via routine trading, the value is added to their balance. For instance, if a trader closes a deal at 0.4 lots, they will only be required to close trades worth a total value of 0.6 lots to receive a prize lot. This way, traders can collect prize lots across all of their trading accounts, whether they generate a profit or not.
Additionally, we are thinking of creating new types of user accounts and special wallets. These accounts will widen our offering to traders, allowing them to pick the conditions that suit them best. All of these developments are designed with the trader in mind; at OctaFX, our goal is to empower traders by giving them the information to make the most out of forex.