WhoTrades

WhoTrades
Private
Industry Financial Services
Headquarters One Penn Plaza, New York City, United States
Products Stocks, Options, Futures, Forex, CFDs, and Bonds
Parent Finam Holdings
Website www.whotrades.com

WhoTrades is a US-based financial services company with offices in New York and Cyprus and a subsidiary of Russian broker Finam Holdings. It serves as a social trading network, trading educator and online brokerage. Users can buy and sell stocks, options, commodities, indexes and currencies via web-based, mobile, and desktop electronic trading platforms. Blogs and trade-sharing tools make up the social aspect of the WhoTrades website.[1][2]

WhoTrades offers access to major stock indices, Forex and CFD markets. Users can trade their own accounts or copy expert traders with a copy trading feature called Live Trading. With this service, traders can duplicate the performance of the best traders in the network.

WhoTrades offers a global social trading network, with detailed financial analyses, content and comments from peer traders, and important real-time news about the markets and securities. In addition, it uses a sophisticated algorithm to cull financial news from over 2,000 sources.

WhoTrades is regulated by the Financial Industry Regulatory Authority (FINRA).[3][4][5]

History

WhoTrades was founded in 2010 by Russian broker Finam Holdings.[6] WhoTrades initially targeted traders from the US, Germany, India, China and Thailand. As interest increased in other regions, service was expanded to Northern Africa, the Middle East, Latin America and Malaysia. In 2012, WhoTrades received an influx of users when it merged with the already popular Russian social network Comon.ru.

In 2013, WhoTrades launched the Distance Learning Services, an interactive education program that allows new investors to gain the knowledge necessary to trade.

On Feb. 26, 2015, WhoTrades. Inc, acquired the Just2Trade and LowTrades brands from Washington D.C.-based online securities broker Success Trade Securities, Inc. for an undisclosed amount.[4]

In 2016, its membership of the National Futures Association NFA was withdrawn.[7]

In 2018, WhoTrades launched its "Live Trading" platform, which allows traders to explore a vast range of traders who choose to show their trades and portfolios, and copy the composition of those portfolios and start to "Autofollow" the trades of a specific trader on the network. Their trading history is freely available so traders can conduct due diligence, and WhoTrades has an algorithm that helps make sense of their trading behavior and strategies.[8] It also launched its mobile app for Apple and Android products. [9]

References

  1. ↑ "Trading goes social". World Finance. April 19, 2012.
  2. ↑ "Apply for a Trademark. Search a Trademark". trademarkia.com. Retrieved 2018-09-11.
  3. ↑ "Finam and WhoTrades – New Arrivals to Social and Forex Trading". Finance Magnates | Financial and business news. 2013-08-29. Retrieved 2018-09-11.
  4. 1 2 Inc., WhoTrades,. "Broker-Dealer WhoTrades, Inc. Acquires Just2Trade & LowTrades Brands". GlobeNewswire News Room. Retrieved 2018-09-11.
  5. ↑ "BrokerCheck - Find a broker, investment or financial advisor". brokercheck.finra.org. Retrieved 2018-09-11.
  6. ↑ "Компания WhoTrades Ltd. удостоена премии Финансовая Элита России-2012 Европейский лицензированный брокер WhoTrades Ltd. (торговая марка FINAM) стал лауреатом 8-ой объединенной итоговой премии в области финансов Финансовая Элита России - 2012 в ка". Retrieved 2018-09-11.
  7. ↑ "BASIC Details". www.nfa.futures.org. Retrieved 2018-09-11.
  8. ↑ "Live | WhoTrades". live.whotrades.com. Retrieved 2018-09-11.
  9. ↑ "WhoTrades - Apps on Google Play". play.google.com. Retrieved 2018-09-11.
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