Enigma Strategy, the trading name of Mayfair Capital operating since last year, recently secured a direct license from the UK Financial Conduct Authority. The firm is now offering a compliant Copy Trading service to users looking for a hand-off approach.
Working on a hybrid business model
Enigma Strategy is now looking at a hybrid business model that includes multiple offerings like stock brokerage, forex, copy trading, and trading signal services. After receiving direct approval from the British FCA, the firm is now looking at the expansion of ancillary services. Its most recent offering is a proprietary forex research and analysis offering called the Enigma Platform.
“Via the Enigma Platform, customers can espouse their own analysis with signals on every major currency pair produced every six hours from qualified veteran traders, with said signals being generated under an Artificial Intelligence and Machine Learning framework.”
The firm will offer clients trading signals on behalf of brokers. It is also offering users portfolio advisory and dealing services and traditional execution services.
However, the company’s trade signals service is not yet regulator. Therefore, customers subscribing to this service will not be covered under the FSCS compensation plans or eligible for Financial Ombudsman Services (FOS).
Users get access to copy trading
With the new offering, Enigma users will also get access to copy trading services. The platform includes several tools in their technical analysis, pattern recognition, live charts, economic calendar, forex-based market information, sentiment alerts, and more. It also provides B2B products for brokerages looking for better-regulated retention tools. Enigma is also offering its users educational trading courses.
Users looking for a hands-off approach can work with the compliant copy trading services that let investors release their trades to the public and make other users follow their trading decisions. The FCA places copy trading offerings in the same league as portfolio management services. It has designed extra rules to make it legally compliant. All copy trading or mirror trading services now require permission from regulators to offer their platform to users.