Whotrades

WhoTrades is a Russian financial services company with offices in New York and Cyprus. 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 and desktop electronic trading platforms. Blogs and trade-sharing tools make up the social aspect of the WhoTrades website.^[1][2][3]

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 Chain Trading. With this service, traders can duplicate the performance of the best traders in the network.

WhoTrades was regulated by the NFA until March 2016 when its membership was withdrawn,^[4] the Financial Industry Regulatory Authority (FINRA), and CySEC.^[5][6][7]

History

WhoTrades was founded in 2010 by Russian broker Finam Holdings.^[8] 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.

In March 2016 it's US National Futures Association membership was withdrawn.^[4]

References