Bitcoin bull and antivirus software magnate John McAfee has demonstrated his commitment to revolutionize trading. After launching the McAfee Magic trading platform, he has just launched the McAfee Magic Practice Portal for those entering the world of trading for the first time to learn and understand trading sufficiently without any risk before they actually start trading.
Shadow trading at no risk
Shadow trading or social trading is a system of automated trading that allows newbies to get “attached” to a more experienced trader such that their account is synchronized with that of the experienced trader. The risk the experienced trader takes applies to the newbie on a scale, depending on how much the newbie has it their account.
McAfee is adding this feature to his new trading platform, but going a step further to remove any risk on the part of the newbie and their funds stay safe on exchanges. In other words, they don’t need to fund their account to shadow trade and so there is no risk involved in the learning process. The shadow portal also allows newbies to shadow several professionals at the same time so they can learn from several experts at once.
This enables brand new traders with zero knowledge of any kind of trading, whether, of shares, CFDs, forex, indices, or commodities can easily jump on the McAfee shadow portal without a second thought. After all, they don’t stand to lose anything.
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Good timing for American traders?
McAfee has always challenged conventions even in the cryptocurrency industry, which is probably why he chose to introduce his own trading platform, the McAfee Magic. The shadow trading functionality may not be the only thing that is different about the platform, the main platform also has a number of features that make it different as well. Traders can trade from several different exchanges at the same time in a single user interface.
This may be a good development for the American traders especially because of the recent decision of the Binance management to bar U.S traders from trading on the exchange. While Binance is also launching another exchange in the U.S, some experts believe it will not offer the full range of available options on the main Binance exchange and may just be a shadow of the real thing.
If the McAfee Magic, therefore, supports all the cryptocurrencies that will be missing on the U.S exchange, traders may see it as a new haven and a good alternative to Binance. Not only Americans but traders from several other countries who will not have access to Binance by September 2019 could use this type of platform, especially for the newbies. The platform already supports 8 exchanges with over 5,000 customers that have access to over 500 currencies worldwide.