ThinkMarkets, a multi-asset brokerage offering foreign exchange (FX), contracts-for-difference (CFDs), and metals products, has launched a new expert advisor (EA) Buyback initiative, helping promote a more manual-based trading approach, per a ThinkMarkets statement.
The move comes at a time when automated trading has permeated the market to a higher degree – ThinkMarkets’ EA initiative will help support current automated robot traders, incentivizing them switch over to ThinkMarkets’ ThinkTrader service. The service enables users to utilize a wide range of strategy building tools at their disposal, including charting indicators and pattern recognition tools, among others.
Empowering Manual Traders
In addition, the EA Buyback campaign will also aim to empower FX traders in a more manual-centric setting. By executing a switch over to manual trading, a given user is afforded more control over their money and how precisely it’s traded, which has caught fire amongst many traders.
More specifically, this will include provisions that allow traders to switch over to manual trading via their new service by depositing new funds or transferring existing funds from a previous MetaTrader4 (MT4) account.
According to Nauman Anees, CEO and co-founder, in a recent statement on the new program: “As an MT4 provider we’ve seen numerous clients use EAs over the past few years. However, for many retail traders the outcome is not always what they expect as EAs do not guarantee financial return on trades.”
“Furthermore, an element of trading knowledge is important in understanding what strategy the EA is using – for some this may not be the most advantageous method when it comes to trading. ThinkTrader’s EA Buyback initiative provides an alternative as it empowers traders and doesn’t rely on unadaptable automated rules, ultimately providing a more controlled environment,” he added.