It’s interesting to see FXstreet exercising horizontal expansion by capturing small-medium forex websites looking for someone to manage their advertising inventories. FXstreet started this by partnering with myfxbook and then forexcrunch and fxtimes – these three sites generate almost 5 million monthly pageviews.
FX Bootcamp helps Forex traders learn and use technical and fundamental analysis through a combination of live and recorded training. The company has renewed and expanded its website which is now offering all its Forex training videos and educational articles, as well as providing live market analysis at the open of the Asian, European and American currency trading sessions… all for free. “The websites managers had difficulties to deal with content and advertising at the same time. By externalizing the marketing task and giving us the responsibility of clients accounts and advertising strategies, they can focus all their time and efforts on content… which is their first expertise”, explains Daniela Menascé, Accounts Manager at FXstreet.com. “And they directly benefit from our know-how. For example, since we started to handle the advertising of MyFXbook, in August 2010, the advertising income has quadrupled.”
Working in such relationship is beneficiary for both parties as smaller firms don’t need to waste their limited resources on acquiring advertisers and even negotiating with them while for bigger guys it’s a great fit as well as they already have all the advertisers available so offering them more inventory is not an issue.
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FXstreet last year disclosed disclosed its record income in April 2011. Bottom line income, from all media deals, is over $515,000. With such impressive figures FXstreet is well positioned to grow its business whether through organic growth or through such media ‘acquisitions’. Forex portals are a big market however also a very crowded one as the high margins are attracting all kinds of ambitious entrepreneurs. For now, as seen in our quarterly media forex reports, most market share is found in the hands of just 5 large portals – however this can quickly change.
According to latest Forex Magnates Media Forex Survey FXstreet was ranked 4th largest (predominantly English based) forex website in the world with average 716,939 monthly uniques in 2011. myfxbook was ranked 8th with 144,492 and forexcrunch 12th with 60,402.