Social trading has long since been the order of the day, and its continual evolution and development demonstrates the importance of its existence within the retail FX sector.
It is therefore somewhat poignant that Alpari has today discontinued its TraderConnect service, with the forum having been taken offline on Monday June 2 and is no longer available for use.
This represents a further social trading related step taken by Alpari, with its Russian operations having discontinued its relationship with ZuluTrade toward the end of last year, and its UK division having turned its back on Tradency’s Mirror Trader in favor of its in-house TraderConnect solution, which has now gone west.
Whilst social trading providers themselves had rallied last year to expand their footprint by way of partnering with institutional liquidity providers, a case in point being Tradency’s partnership with CFH Clearing, some of the FX firms have put an end to their own in-house systems.
In addition to Alpari’s TraderConnect service having been discontinued, OANDA last year canned its fxUnity system over a year ago, subsequently purchasing Currensee along with its existing network of traders.
Whilst Monday represented the end of the line for TraderConnect, Alpari’s website details that the firm continues to offer trading calculators, the EA Builder solution, Trading Central and its newsroom service as tools to empower its retail traders.