FxStat Group Inc.
| File:FxStat Logo large.jpg | |
| Private | |
| ISIN | 🆔 |
| Industry | Financial services |
| Founded 📆 | 2010 |
| Founder 👔 | |
| Headquarters 🏙️ | , |
Area served 🗺️ | |
Key people | Sarmad Daneshmand (CEO) |
| Products 📟 | Social trading, Mirror trading, Social network Electronic trading platform Market liquidity (Bridge and Aggregator) |
| Owner | FxStat |
| Members | 325,000 members (Feb 2014) |
Number of employees | 45 |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
FxStat Group or FxStat, is an online social networking service in financial services headquartered in the United Kingdom, London, and the name FxStat comes from a combination of Forex and Statistics. FxStat was founded in April 2010 and focused on the foreign exchange market, Stock market, and Commodity market. The focus was initially on social networking only, but later expanded to trading statement track record assessment, following successful traders' portfolios, copying top-performing traders, reading news, and sharing trades through a single platform to FxStat Group, Facebook, and Twitter.[citation needed]
In 2011, FxStat Group mixed social networking service and Trade (financial instrument), nowadays called Social trading, that allows real-time copy trading of top-performing Trader (finance)s automatically with full control and transparency. The site is available in 12 languages, including English, French, German, Spanish, Arabic, Chinese, Russian, Farsi, Italian, Portuguese, Dutch, and Urdu.
History
FxStat Group (BVI) was founded in April 2010 by Sarmad Daneshmand and Bander Alweshaigri as a track record assessment and performance page provider for traders under the name FX Stat (an abbreviation for Forex Statistics). In 2013, it expanded to Jordan and currently has offices in the UK (London), Saudi Arabia (Riyadh), and Jordan (Amman).[citation needed] FX STAT Ltd UK is regulated and authorized by The Financial Conduct Authority (FCA).[1][2]
Products and services
Social trading platforms
In April 2011, FxStat launched its first social trading platform, Tradebook, a paid service offering automatic real-time trading through signal providers,[3] which started being used by FXCC, a CySEC-regulated broker Cyprus Securities and Exchange Commission.[4][5]
Users can set their account to follow other members' trades and automatically execute them, becoming signal followers. In order to get FxStat's approval as signal providers, traders' accounts have to be proven real accounts and with a positive trading results history. These experienced investors are chosen by their followers using the analytics and performance comparison features. Users are still able to set their own trading rules while following a provider, like trading on a fixed lot, maximum open trades or maximum open orders, stop loss, or maximum floating loss.[citation needed]
Later that year, in October 2011, FxStat launched the Managed Book platform. Managed Book allows investors to find the best market leaders signal providers to copy automatically in real-time without paying per-transaction commission. Instead, they pay a success fee based on a high-water mark.[6] Managed Book started being used by Varengold Bank FX in Germany.[7]
FxStat covers over 1,000 brokers worldwide. In July 2011, broker FXOpen announced the integration of FxStat Tradebook into its platform.[8][9]
See also
References
- ↑ "FxStat Ltd UK Is Regulated and Authorized by the Financial Conduct Authority (FCA)". FxStat. 2011-05-19. Archived from the original on 2011-08-25. Unknown parameter
|url-status=ignored (help) - ↑ "The Financial Services Register". 2011-05-16. Archived from the original on 2011-08-24. Retrieved 2024-04-11.
- ↑ "FxStat Launches Tradebook, Its Own Trade-Following Feature". ForexMagnates. 2011-04-13.
- ↑ "Investment Firms". 2010-03-09. Archived from the original on 2013-08-06. Retrieved 2014-10-28. Unknown parameter
|url-status=ignored (help) - ↑ "Social Trading Platform FXCC FxStat Tradebook". Forexformation. 2013-07-22.
- ↑ "FxStat launches Managedbook – advanced Market Leaders portfolio management". ForexMagnates. 2011-10-24.
- ↑ "Autotrading mit FXSTAT". 2013-07-29. Archived from the original on 2016-05-03. Retrieved 2024-04-11.
- ↑ "FxOpen Launches New FxStat Tradebook". FxOpen. 2011-07-13.
- ↑ "FxOpen launches FxStat Tradebook, a social automatic trade service". Forexbrokerz.com. BorexBrokerz. 2011-08-02.
External links
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