eToro launches a Forex portal – eToro.net
Joining many brokers who have already created a Forex portal for themselves eToro, the intuitive gaming-like Forex broker, has created
Joining many brokers who have already created a Forex portal for themselves eToro, the intuitive gaming-like Forex broker, has created a similar site as well. http://www.etoro.net/ is a Forex portal with commentaries, news, prices and daily and weekly reviews in several languages.
FXCM owns dailyfx, FXOpen’s homepage is its Forex portal as well, and GFT owns FX360.
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I already wrote about the importance of broker-owned Forex portals and I’m still surprised why not all large brokers own such sites. I also think that Forex portals such as fxstreet and forexpros will not be able to survive much longer being independent. It makes a lot of sense for Forex brokers sans Forex portals (such as Forex.com, Oanda and Interbank FX) to acquire one of these sites instead of developing their own. These sites provide enormous exposure for the Forex broker and if managed effectively can drastically decrease marketing costs.
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“I also think that Forex portals such as fxstreet and forexpros will not be able to survive much longer being independent.”
Interesting but controversial statement Michael. FX Street has built up a reputation over the years and traders respect that. I think that’s one of the reasons why they’ll stay independent. Brokers that develop their own portal will always be seen as partisan – which means there will always be a gap in the market for portals that aren’t seen as such.
I also think that it’s easier for forex brokers to buy an existing forex portal than develop their own.
I don’t agree that independent forex portals cannot stay independent. They managed to stay as such for a long time, and the fact that they’re not connected to any broker makes them more reliable in my opinion.