Former Chief Executive Officer of PsyQuation, Michael Berman, has rolled out a new licensed copy trading platform known as Ditto.
According to the announcement, the platform will be providing a smarter way for users to copy trade. It will offer them the opportunity to use the trading strategies of traders in the industry to grow their trading arsenal.
Ditto states that traders looking to copy a trade using the new platform will need to pass through certain criteria. Additionally, those looking to join the platform as a “Pro” will need to be screened to maintain a certain level of professionalism for experienced traders on the platform.
The Platform Is Licensed In Australia And Vanuatu
The platform is officially registered as Gleneagle Securities and licensed by the regulators in Vanuatu and Australia.
Berman, who is now the Chief Executive Officer of Ditto, stated that the new platform will go live very soon. He stated that the team has finally become a product lead broker after over 2 decades of building products on someone else’s broker. The new platform is being rolled out when the demand for copy trading services is skyrocketing.
Berman stated that Ditto is bringing something different to the Copy Trading space. He added that users of the platform will enjoy more products, especially from the strategies built by experienced traders.
Raising The Bar High For Experienced Traders
As stated earlier, Ditto will have a strict process of admitting traders into the system. For experienced traders, the platform requires them to have a track record of at least two years. They are also required to have a Sharpe ratio of more than 1. The requirements also include having more than $2 million in AUM for the expert trader.
The platform will also be providing trading services with CFDs of commodities and metals. It is also offering about 300 Australian stocks and more than 1,000 US stocks. Ditto says the initial investment amount has been set at $200.
Vladislav Moskovskiy and Vladimir Krouglov are also co-founders of the platform, along with Berman. Vladislav will be the chief operating officer of the firm while Ukraine-based Vladimir is the firm’s chief investment officer.