INFINOX, the global trade partner, announced an increase in trading volumes across its IX Social trading platform in Latin America compared to the previous quarter (January-March). The increased activity reflects wider take up of copy-trading across the region both by individual traders looking to follow proven professionals’ strategies, as well as established traders aiming to share and monetise their knowledge.
"Our IX platform nurtures an engaged and open discussion about these strategies, which any subscriber is free to adopt – or ignore."
During this period, INFINOX saw IX Social subscriptions rise across the region, as well as the appointment of more than 13 new partners to refer and manage clients.
Jay Mawji, Managing Director at INFINOX Capital, describes the success of IX Social in Latin America as a convergence between changing technology and social attitudes, literally transforming the essence of trading.
“Social trading can be described as the antithesis of traditional value creation. Instead of competing to gain competitive advantage, more experienced traders are now making their strategies available for others to follow. Our IX platform nurtures an engaged and open discussion about these strategies, which any subscriber is free to adopt – or ignore – according to their own convictions,” he said.
IX Social enables home traders to effect CFD (contracts for difference) trades across a range of instruments including:
- Forex Q1 ’21 volumes up in Latin America 39.2% compared to Q4 ‘20
- Indices Q1 ’21 volumes up in Latin America 131.6% compared to Q4 ‘20
- Commodities Q1 ’21 volumes up in Latin America 222.2% compared to Q4 ‘20
INFINOX’s IX Social’s functionality allows clients to ‘like’ certain trades of the traders they follow, even going so far as to comment on them and to converse about why a specific trade was chosen. Apart from merely trading on the app, IX Social also incorporates community group functionalities, where traders can create sub-communities to share information, create an education portal, or even trade as friends. It even allows clients to share their trades and the knowledge as to why they were chosen.
"It is effectively a new type of trade; one based on collaboration and sharing, rather than out-right competition."
“The radical nature of this approach cannot be overestimated. It is effectively a new type of trade; one based on collaboration and sharing, rather than out-right competition. The end result is value creation for all parties; both the experts and those who choose to follow them.”
According to Mr Mawji, the interactive and participative nature of the platform has made it particularly compelling for a younger generation of traders in Latin America.
“We are talking about millennial and Generation Z-aged traders, coming from a culture of the so-called ‘sharing economy’ and ‘crowd-sourcing’ solutions to problems. According to recent research from Nielsen, 73% of Latin American millennials are open to participating in ‘share communities’, a figure which reaches 78% in Brazil. According to the same research, 30% of respondents from the region are open to ‘share their experience for a profit’; this compares to a global average of just 26%.”
“In this context, it’s clear that copy-trading – and IX Social, in particular – is part of a societal trend. A ‘new trade’ based on collaboration and sharing, as opposed to simple competition,” adds Mr Mawji.
This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. INFINOX is not authorised to provide investment advice. No opinion given in the material constitutes a recommendation by INFINOX or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.