Enigma offers a compliant Copy Trading Service to customers who prefer a more hands-off approach.
Since 2019, Enigma Strategy has been operating as a trading name of Mayfair Capital. Now the Strategy has secured its license from the UK Financial Conduct Authority (FCA).
FCA is is a conduct regulator for financial service firms in the UK.
The FCA regulatory approval reinforces Enigma’s ability to operate its hybrid business model. This includes copy trading and trading signals, FX, and stocks’ brokerage.
Following FCA approval, Enigma Strategy expanded its provision of ancillary services after rolling out its proprietary FX research & analysis offering, dubbed ‘the Enigma Platform’
Their direct FCA authorization also allows them to provide traditional execution portfolio advisory and dealing services.
The license also enables them to offer their clients trading signals on behalf of their brokers.
While the company is FCA authorized, its trade signal services are not regulated. Therefore customers who subscribe to their signal services are neither eligible for the Financial Ombudsman Services (FOS) donor covered by FSCS’s compensation plans.
Enigma platform enables customers to espouse their analysis with signals on every major currency pair produced every six hours from qualified veteran traders.
According to the company, an Artificial Intelligence and Machine Learning framework generate the said signals.
Enigma offers Copy Trading.
Enigma also offers other tools on its platform. They include live charts, technical analysis, pattern recognition, sentimental alerts, economic calendar, forex based market information, and much more.
Additionally, Enigma provides these services as a B2B product for other brokers seeking regulated retention tools.
In addition to Enigma’s analytics platform, they also provide educational trading courses for its customers.
Enigma offers a compliant Copy Trading service for customers who prefer a hands-off approach, allowing investors to release their trades publicly and have other traders follow them in their decisions.
The Financial Conduct Authority places copy trading platforms within similar regulatory boundaries to portfolio management services. It also requires that traders follow extra rules to make it legal.
In the event of damaging incidents of market misconduct, providers of copy trading must to obtain permission to carry out London’s practice.