Currency broker FXPro is set and ready to become the latest investment platform in joining the world of social trading, in an attempt to entice investors who are immersed in several forms of social media. The new online foreign exchange broker is contemplating to launch what is called “Super Trader” platform later this year which will feature about 200 forex traders, whose position can be imitated by other FxPro traders.

The entire concept is basically to enable clients with different trading strategies in order for them to branch out their risks. Traders would then be picked and vetted by FxPro, based on several factors as their trading techniques, how profitable they will be in the long run and how risky their respective trades will be in the future.

Fellow traders will be able to sort through strategy providers which basically will be according to their identified risk levels and how many followers they ensue. In this case, what is anticipated will be to see the actual risk parameters of the strategy. Moreover, FxPro mentioned that it will be soon developing a set of guidelines to grade the strategy providers’ risk which could potentially rank their risk level from 1-5 with 5 being the most perilous and would later lead a reflective changing risk level of their trades.

FxPro is regulated by the Financial Conduct Authority in the United Kingdom and has approximately 180,000 clients internationally which would open the door for people who simply would want to allocate money to foreign exchange as an asset class.

Followers of the strategy providers will definitely benefit in stop losses which are basically triggers that can close a trade if should a user lose a specific percentage of their funds. Moreover, strategy providers will also receive additional commission from followers’ trades, however FxPro said that it had still yet to decide how much to give in terms of commissions.

The growth and expansion of social trading have led to many spread betting and forex providers offer message boards and other ways for their respective targets to interact in their favor. However, some trading platforms have also expressed their hesitations about encouraging clients to follow each other’s trade. Analysts are expressing their concerns regarding the entire social trading subject specifically when there is a possibility for an individual to follow trading decisions of another individual. What follows is essentially moral hazards in allowing these individuals to follow other individuals when actively doing trade.