ThinkMarkets Unveils "ThinkCopy", Their New Copy Trading Platform

A Melbourne-based brokerage firm, ThinkMarkets, has recently launched a copy trading platform dubbed ThinkCopy. This new tool aims to grant clients access to professional traders and a multitude of social features. It provides a unique opportunity for retail investors to easily explore and compare the track records of various accomplished traders, and replicate their trades in real-time. Additionally, ThinkCopy offers a competitive platform for top-tier traders to showcase their skills.

Copy Trading as a Tool for New Traders

ThinkMarkets' co-founder and co-CEO, Faizan Anees, shared his thoughts on the introduction of this novel service. He said, “Copy trading has seen increasing popularity among clients who are new to trading. ThinkCopy enables these clients to follow and replicate the trades of seasoned traders using our dedicated mobile app. They have the capacity to view the performance of leading traders, allocate funds, and establish auto-copy trades.”

How ThinkCopy Works

ThinkCopy simplifies the trading process for beginners by enabling them to automatically replicate the transactions of experienced traders on the platform, thereby creating a peer-to-peer asset management solution. The trader whose trades are copied gains a reasonable portion of the follower's equity profit resulting from the replicated trades.

Mobile App Features and Community Engagement

With the ThinkCopy mobile app, users can easily set up auto-copy trades and profit from the expertise of accomplished traders. The app, designed with a user-friendly interface, allows customers to screen traders using specified criteria and apply risk management strategies such as take-profit and stop-loss orders. In addition to this, ThinkCopy encourages its users to become part of a global community, where they can participate in discussions and share trading insights.

ThinkMarkets' Growth and Future Plans

ThinkMarkets has seen significant progress in 2023, most notably their announcement to go public via a merger with Canadian blank-check company, FG Acquisition Corp. This merger will value ThinkMarkets, which earned a revenue of $62 million in 2022, at an impressive $160 million in a pre-money basis.

Upcoming Merger and Stock Exchange Listing

Once the merger is finalized, anticipated to be within the second half of 2023, the resultant corporation will function as ThinkMarkets Group Holdings Limited and is expected to be listed on the Toronto Stock Exchange. The existing ThinkMarkets management team will retain its positions within the new corporation following the completion of the merger.

Fundraising for Growth and Expansion

Furthermore, ThinkMarkets disclosed plans for a private placement, with the aim of raising up to $20 million via the issuance of convertible debentures. The funds raised from this private placement will cater to the new corporation's growth strategy, working capital, and other corporate needs. This funding will supplement any remaining funds available from FG Acquisition Corp's escrowed funds, currently standing at roughly $117 million.

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