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How does Autocopy trading work? Social trading platform NAGA explains why its innovative feature is taking off now

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After this spring’s biggest stories on crypto crashes and plummeting stocks of leading firms, some semblance of stability in Q2 reports appears to have restored some investor confidence. This is, however, on the backdrop of rising central bank interest rates across Europe this summer that add another major variable into traders’ decision-making process. Interestingly, in August, Google searches for “copy trading” have returned to pre-crises levels, indicating a growing interest in a feature that adds value to making more informed investment decisions.

One step further from “copy trading” for stock connoisseurs is an emerging phenomenon called “Autocopy trading”. Highly user-friendly social trading platforms like NAGA are also picking up steam. The platform is best known for its Autocopy feature that allows traders to copy other traders, which match their risk scoring, thus creating a unique social trading environment with numerous benefits for the users.

What is Autocopy trading?

For those unfamiliar with the term, “copy trading” is exactly what it sounds like – you copy someone else’s trading moves, ideally a lead trader that has been performing well and matches your risk appetite. The twist that NAGA offers is called “Autocopy”- an innovative feature that lets traders mirror leading traders’ positions which match their risk scoring automatically and in real time, all at the tap of a finger.

Here is a step-by-step explanation of how NAGA’s Autocopy trading feature works:

  1. Find a Trader in the Leaderboard: Check out the Leaderboard, search by performance, assets, percentage of the win rate and more. Find the one that suits your risk appetite and requirements, and press Autocopy;
  2. Check trader’s performance statistics: Click on the Autocopy button to access the Autocopy settings and essential trading indicators that show how the Lead Traders perform and how copiers could benefit;
  3. Choose the type of Autocopy and investment amount: Choose how you want to copy a trader with a percentage or with a fixed amount per trade;
  4. Confirm settings and start Autocopying: Enter the ratio or amount and click on Start Autocopying. Now you are automatically mirroring trader’s positions. You can monitor your progress or change your Autocopy settings at any time without having to close your positions in the Copy Trading section;
  5. Add individual Stop Loss and Take Profit triggers: You copy Stop Loss and Take Profit settings after your leader, but you can set the limits individually for each trade in the trades section.

Why is Autocopy trading taking off?

A spokesperson for NAGA explains why Autocopy trading is taking off now: “Netflix, Twitter, Tesla and Meta all kept investors at the edge of their seats this year, whose decisions on whether to buy or sell stocks was a real roller-coaster ride. With copy trading, particularly Autocopy, you can leave it up to lead traders you follow and trust to make more informed decisions. You can copy an unlimited number of traders simultaneously, spreading your investments across a diversified portfolio, all within a few easy taps.

“Once you become more confident, you yourself could become a lead trader that others copy, which, in turn, may potentially earn you a Copy Premium for every profitable decision you make that others have copied provided that you satisfy certain criteria. And, best of all, remember that all of this is actually a seriously informative social platform, where you can interact with like-minded people from across the world. There are also free guides in NAGA Academy, to help you further your knowledge of trading.”

Founded in 2015, NAGA is a multi-asset investing app with an inbuilt social network, currently counting over one million registered users globally who can trade the global financial markets, such as CFDs on forex, stock, cryptocurrencies, commodities, indices, ETFs as well as Real Stocks.

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Expressions of Interest for Director of the European Bank for Reconstruction and Development

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The Minister for Finance, Michael McGrath, is inviting Expressions of Interest from suitably qualified candidates to be considered as Ireland’s Director of the London-based European Bank for Reconstruction and Development (EBRD). The remunerated position of Director is an important post with a demanding workload. A full-time residential position, it is based at Bank headquarters in London.

The Minister’s nominee is expected to be appointed by the EBRD, with the agreement of Ireland’s Constituency partner countries, for a three-year term from 1 August 2024.

Minister McGrath commented:

“This is an exciting opportunity to represent Ireland (and our Constituency partners Denmark, Lithuania and Kosovo) as a Director on the Board of the European Bank for Reconstruction and Development overseeing the policy-making and governance of the Bank. The EBRD is a unique International Financial Institution supporting projects across three continents. By investing in projects which otherwise would not be fully met by the market, the EBRD promotes entrepreneurship and fosters transition towards open and sustainable market economies. I am keen to ensure our Irish representative has the ability, education, vision, and experience to make a significant contribution to the Board and brings a range of skills and diverse perspective to the deliberations of the Board.

My nominee will need high competence in economic and financial matters. Expertise can come from notable or significant achievements in the corporate or financial sector, academia, policy-focused institutions, or public service. Importantly, they will have the highest ethical standards, a strong sense of professionalism and commitment, and dedication to serving the interests of all the shareholders and be able to make themself readily available to the Board in the fulfilment of their duties.”

Expressions of interest will be accepted up to 3pm on 27th March 2024

The post Expressions of Interest for Director of the European Bank for Reconstruction and Development appeared first on HIPTHER Alerts.

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Council adopts regulation on instant payments

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The Council adopted today a regulation that will make instant payments fully available in euro to consumers and businesses in the EU and in EEA countries.

The new rules will improve the strategic autonomy of the European economic and financial sector as they will help reduce any excessive reliance on third-country financial institutions and infrastructures. Improving the possibilities to mobilize cash-flows will bring benefits for citizens and companies and allow for innovative added value services.

The instant payments regulation will allow people to transfer money within ten seconds at any time of the day, including outside business hours, not only within the same country but also to another EU member state. The regulation takes into consideration particularities of non-euro area entities.

Payment service providers such as banks, which provide standard credit transfers in euro, will be required to offer the service of sending and receiving instant payments in euro. The charges that apply (if any) must not be higher than the charges that apply for standard credit transfers.

The new rules will come into force after a transition period that will be faster in the euro area and longer in the non-euro area, that needs more time to adjust.

The regulation grants access for payment and e-money institutions (PIEMIs) to payment systems, by changing the settlement finality Directive (SFD). As a result, these entities will be covered by the obligation to offer the service of sending and receiving instant credit transfers, after a transitional period. The regulation includes appropriate safeguards to ensure that the access of PIEMIs to payment systems doesn’t carry additional risk to the system.

Under the new rules, instant payment providers will need to verify that the beneficiary’s IBAN and name match in order to alert the payer to possible mistakes or fraud before a transaction is made. This requirement will apply to regular transfers too.

The regulation includes a review clause with a requirement for the Commission to present a report containing an evaluation of the development of credit charges.

Background

This initiative comes in the context of the completion of the capital markets union. The capital markets union is the EU’s initiative to create a truly single market for capital across the EU. It aims to get investment and savings flowing across all member states for the benefit of citizens, businesses, and investors.

On 26 October 2022 the Commission put forward a proposal on instant payments that amends and modernises the single euro payments area (SEPA) regulation of 2012 on standard credit transfers in euro by adding to it specific provisions for instant credit transfers in euro.

Source: European Council

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FCA highlights need for enhanced competition in wholesale data markets

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The FCA has unveiled the outcomes of its in-depth study into the wholesale data market, focusing on the sectors of credit ratings data, benchmarks, and market data vendor services.

Despite deciding against major regulatory actions due to the risk of unintended consequences that could affect the data’s availability and quality—a crucial resource for global investors—the FCA has pinpointed several areas where competition could be significantly improved.

The study’s revelations indicate that the current state of competition in these markets may lead to users incurring higher costs for data than would be the case in a more competitive environment. This concern is particularly pressing given the critical role that such data plays in supporting effective investment decisions across the financial sector.

In a move to address these findings, the FCA has proposed initiatives aimed at ensuring wholesale data is distributed under fair, reasonable, and transparent conditions. This approach forms a part of the regulator’s broader strategy to ‘repeal and replace’ assimilated EU law, reinforcing the UK’s status as a premier global financial hub fostering investment, innovation, and sustainable growth.

Sheldon Mills, the FCA’s Executive Director of Consumers and Competition, emphasised the importance of quality and accessible wholesale data for the efficiency of financial markets. “The quality and availability of wholesale data is integral to well-functioning wholesale financial markets,” Mills stated. He further clarified, “Our market study found that firms can access the data they need to make effective investment decisions. We do not believe the case has been made for significant interventions. However, we will examine ways to help support wholesale data being provided on fair, reasonable and transparent terms.”

In its commitment to fostering a competitive and fair marketplace, the FCA will continue to scrutinize allegations of anti-competitive behavior across all markets, including wholesale data markets, leveraging its powers under the Competition Act to address any such issues.

Source: Fintech Global

 

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