International Finance
Fintech

WhoTrades turnover in Latin America touches $10 billion in 6 months

The client base stands at 8,500 people and is doubling each month May 26, 2015: International Finance Magazine has recognized licensed US brokerage WhoTrades as the fastest growing brokerage in Latin America in 2015. After six months of working in the region, the company’s turnover reached USD 10 bn, while its client base, which currently stands at 8,500 people, doubles each month. The company’s management...

The client base stands at 8,500 people and is doubling each month

May 26, 2015: International Finance Magazine has recognized licensed US brokerage WhoTrades as the fastest growing brokerage in Latin America in 2015. After six months of working in the region, the company’s turnover reached USD 10 bn, while its client base, which currently stands at 8,500 people, doubles each month. The company’s management says that this success is due to its focus on promotion of innovative products and provision of a wide range of investment services.

Latin America is a fast developing region, and the fact that it is of interest for brokerages is not surprising. The market is becoming increasingly competitive, and success of a European company, that proved to be a key player, deserves attention. WhoTrades entered the Latin American market in 2014, turning this region into one of the key regions in its development strategy. By that time, the company was a global player, present in 90 cities of Americas, Europe and Asia.

No matter how large-scale operations of a brokerage are, it is impossible to enter a highly competitive market and stay their without making a unique offer, which would sharply distinguish a new player from other market participants.

As for WhoTrades, it benefited from high technologies. The company offered Latin American traders its flagship product, ??? (Multi Market Account) service, which allows trading on various global venues – from Latin America, the US and Europe to Japan and Thailand – using a single account. The service provides access to 15 stock exchanges on various continents, and in the near term, the list of the venues will double: investors will have an opportunity to trade on stock exchanges of Australia, Canada, Singapore, South Korea and other countries. Hence, clients of the company may carry out operations and earn profit 24 hours a day all over the world without leaving their homes.

Investors have thousands of instruments at hand – shares, derivatives, currencies etc., which help them implement the most complex strategies. Trading from a single account, a trader does not need to open accounts with many brokers to gain access to various markets and does not need to use different trading programs. This service will interest many categories of traders, speculators and long-term investors, as well as traders that use arbitrage and hedging strategies. The important advantage of the company is that it provides support for Spanish-speaking users, making it easy even for neophyte traders to learn to use the services.

WhoTrades has another important instrument in stock that allowed it to rapidly increase its popularity among Latin American traders: this is whotrades.com site. This is a powerful means of communication, which unites a social network and trading opportunities. These opportunities promote mutual cooperation between experienced traders and novices. One of such cooperation model is Chain Trading service available on whotrades.com., which allows traders to automatically copy transactions of other market participants on their accounts. The service is easy to work with – a user has to choose a strategy, join in, and the system will automatically repeat trading steps of an experienced trader on its account. Experienced traders that have already developed an effective strategy may receive additional income: they may launch their own system, which will attract other participants and bring its owner profit. In addition, it is possible to join or quit any system at any time. Furthermore, clients of the brokerage may trade using a demo account, as well as enroll in numerous educational programs, depending on their level of experience.

One more competitive strength of WhoTrades is flexible and user-friendly tariffs. As a global brokerage, providing direct access to trading venues, the company has an opportunity to adopt an accommodative tariff policy aimed at cutting clients’ costs.

Adam Wang, CEO, WhoTrades“We entered the Latin American brokerage services market only six months ago, but have already achieved success. Local customers have appreciated ample investment opportunities provided by WhoTrades, a high-quality informational, analytical and technical support, as well as affordable tariffs. As a result, the number of our clients and the turnover increased considerably in this quickly developing region with an evolving investment culture. I am confident that this prestigious award from International Finance Magazine will allow us to speed up expansion on the brokerage services market of Latin America

Adam Wang, CEO, WhoTrades

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