The team of analysts who have been responsible for the content side of ForexLive announced that effective immediately the team of content contributors of ForexLive have taken over management of the website from Currency Mountain Holdings.
The sale further outlines that Currency Mountain Holdings, which is the holding company behind FXDD, Forexware and recently acquired Boston Technologies, is shifting its focus onto a new core business.
The change of direction started with the sale of FXDD’s US trading accounts to FXCM, and followed with negotiations with Boston Technologies under some challenging conditions.
One of the first moves made by the new management team of ForexLive was to add former FXDD chief currency analyst and author Greg Michalowski. He will assume the role of Director of Client Education and Technical Analysis.
The firm’s Managing Editor, Adam Button, shared in the announcement, “When the opportunity to acquire the site became available we jumped at it.” He will be managing the website along with co-analysts Eamonn Sheridan, Mike Paterson and Ryan Littlestone.
Forex Magnates’ reporters spoke to Adam Button on the matter, who shared saying, “ForexLive won’t go to a subscription-based model and its content will remain free. We feel that the website is well respected and trusted and our main goal is to improve the technological side of the website. Our main goal is to do this as quickly as possible to meet the demand from our current readers.”
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Ha also shared that the company is looking to bring in other partners in order to grow the website – including analysts and service providers. He explained that the site will further develop to include an educational section and cater to the more novice traders who visit ForexLive.
“Working at ForexLive and interacting with our great readership is a thrill every single day,” Button said in the company annoucement. “To have full control of the site gives us a new degree of freedom to form partnerships, and explore new territory in providing news, content and features to make ForexLive the number one site for forex traders,” he concluded.
Curiously, the announcement came just a day after the office tower, where ForexLive’s desk in Montreal is located, caught fire. Fortunately for the firm, its operations are located on the main floor, whereas the fire started on the top floors. There were no consequences to the firm’s daily operations. Some way to start a new venture, literally “on fire”!
The strategy adopted by the new management of ForexLive is completely different to the one which was adopted by former analysts, Jamie Coleman & Gerry Davies, who went for a premium service and paid subscriptions.
A couple of years back the duo of contributors left ForexLive to start their own forex market analytics venture named FXBriefs, which was later rebranded to FXBeat and integrated as a premium product into the news feed of FXStreet. It was also offered to brokerages for licensing.
After a year of existence the FXBeat service has been phased out and its closure was announced just last week.