What is SwipeStox?
Launched in 2016, SwipeStox is an innovative social trading network for beginners and expert traders. Their aim is to offer investors a flexible platform that allows them to gain new insights into trading and benefit from the collective wisdom of their ‘community’.
Copytrading Designed First For Mobile
SwipeStox is owned by the Naga Group, based in Germany and their leadership team has many years of experience in financial institutions and start-ups. Their platform was built from the ground up with a mobile-first approach, and made to be as simple and efficient as possible for their customers.
The SwipStox social trading platform can be accessed through any web browser and is available as an Android or iOS app (s. The apps have all the features of the web based platform and customers can seamlessly move between platforms while experiencing the same experience.
- Trade manually
- Copy the best trades with one swipe or click
- Share your thoughts, comments and trades with the community
- Receive bonuses for every trade of yours which is copied
- Check out who’s trading nearby and built your own local community
What Are The Costs For CopyTraders To Trade on Swipestox?
SwipeStox is totally free to register, download and use: Click Here to visit and/or download SwipeStox
Anyone who registers gets a free $100,000 demo account which allows you to try all the features of the platform for free. There’s no time limit so people can keep using the platform without the need to open a live account. If you want to start trading with real money, then you have to sign-up and open a broker account with one of SwipeStox’ partner brokers. These include FXCM, ThinkMarkets, BlackBull markets ONE Fincancial Markets, IKON Finance, BDSWISS, fpmarkets, Portex and Hanseatic Brokerhouse. I.e. SwipeStox doesn’t act as a broker itself.
Currently investors can trade in Forex, indices and metals. The trading based platform includes charts, entry prices, stop price and much more. The plan is to add stocks CFDs in the near feature.
What Makes Swipestox Different To Other Social Trading Platforms?
The main difference between SwipeStox and other social trading networks relates to their approach of trade copying. Where most other networks or trade copying platforms require investors to copy the entire portfolio of another traders, SwipeStox allows you to cherry-pick and copy the best individual trades from the traders’ portfolio. Their company name is even derived from the method you use on the mobile apps to copy a trade … in the style of the popular dating app Tinder, you swipe right if you want to copy a trade and left if you don’t. However before you copy a trade you can analyse the past performance of the trader you’re considering to copy, to see if they’re likely going to be successful or not. They use this “trade vs portfolio copy” approach because they believe that when it comes to feeling confident about investing your money, control is everything. This is also why SwipStox provides traders with more control by allowing them to see risk, set risk, and set profit figures in monetary value terms before they trade themselves or copy another trade.
Personalised Trading Robot
However if you prefer the idea of someone else trading on your behalf, then their CYBO may be of interest for you. CYBO is a personalised trading robot that will trade on your behalf based on crowd intelligence, market analysis and your risk profile (low/medium/high).
Another quite unique feature of SwipeStox is their “Trader Radar”. This lets you find other traders who’re physically located nearby. You can then connect with them and start building your own community.
How Can You Make By Being a Swipestox Copytrader?
SwipeStox also offers various promotions including the ability to earn extra money for every one of your copied trades. Your income will depend on how many people copy your trade and on how much the risk on the trade. They currently pay a bonus of $10 for every $1 million traded. SwipeStox mention that top traders on their platform can earn up to $10,000 or more a month as extra cash.
By the end of April 2017 SwipeStox reported that they had 150,000 traders on their platform. While we’ve used the platform in demo mode for a while, we’ve now opened a live account, so a full review should follow in the near future.
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