A common complaint in relation to the FX industry is the slow pace of innovation. For the most part, companies are followers and will look towards each other for new ideas. Partly, this is the result of integration issues, as new platforms and offerings will often need to be applied across various systems. Another inhibitor is compliance issues, as many brokers fear that providing third party applications of research could lead to regulatory problems if clients make claims that these new products have led to losses. For the most part, brokers will wait to receive client demand for an offering and then roll it out. While there isn’t necessarily anything wrong with an industry built on following and reacting to client needs, it does limit the list of products being marketed.
Of the larger brokers, OANDA has recently made a push to break out of the industry’s mold and has created several innovative products this year, along with launching their own social trading network. New products include a Chrome trading platform extension that was announced earlier this month and embedding of StockTwit’s currency stream into OANDA’s iPhone mobile trading app. While the launching of the fxUnity social network can most likely be described as ‘following’ the trend, the Chrome extension and the StockTwits partnership are part of OANDA’s move to provide its clients the ability to trade and receive research through an expanding list of venues. The fact that these product additions have taken place at OANDA is especially interesting as the broker has seen its own set of changes among its management team take place.
On the subject of innovation, Forex Magnates spoke to Trevor Young, Director of Product Management at OANDA, to learn more about the Chrome extension and the StockTwits mobile feature. Young explained that OANDA is “part of a beta rollout (with StockTwits), and the iPhone app was a trial.” He added that “feedback has been very good with a small group of vocal users.” He explained that currently the app is set up so users can select which currencies they want to receive tweets about and while the platform currently only supports receiving tweets, they may add a two-way feature for OANDA clients to be able to post on the network. Young added that applying StockTwits is part of their social media strategy where the broker is “using Twitter to engage customers and they have had success with campaigns on the platform.”
In regards to the Chrome extension and whether clients using social sites like StockTwits or Twitter was a factor in creating a method for traders to open positions without leaving their web page, Trevor Young answered, “it is a factor, but at the end of the day, we wanted to make it easier for clients to access the Trading Platform in a way that fits them best.”
Looking ahead, it will be interesting to see which company is first to copy either of these innovations from OANDA. Specifically, with social trading becoming a larger trend within the trading world, partnering with a network like StockTwits and adding their stream to trading platforms seems like an ideal solution for brokers, as it would embed real time trading ideas near a client’s Buy/Sell buttons. On this note, Howard Lindzon, Founder of StockTwits, told us that the network is open to collaborating with brokers in a similar way that it does with Yahoo Finance and TradingView and offers an open API to facilitate such partnerships.
A common complaint in relation to the FX industry is the slow pace of innovation. For the most part, companies are followers and will look towards each other for new ideas. Partly, this is the result of integration issues, as new platforms and offerings will often need to be applied across various systems. Another inhibitor is compliance issues, as many brokers fear that providing third party applications of research could lead to regulatory problems if clients make claims that these new products have led to losses. For the most part, brokers will wait to receive client demand for an offering and then roll it out. While there isn’t necessarily anything wrong with an industry built on following and reacting to client needs, it does limit the list of products being marketed.
Of the larger brokers, OANDA has recently made a push to break out of the industry’s mold and has created several innovative products this year, along with launching their own social trading network. New products include a Chrome trading platform extension that was announced earlier this month and embedding of StockTwit’s currency stream into OANDA’s iPhone mobile trading app. While the launching of the fxUnity social network can most likely be described as ‘following’ the trend, the Chrome extension and the StockTwits partnership are part of OANDA’s move to provide its clients the ability to trade and receive research through an expanding list of venues. The fact that these product additions have taken place at OANDA is especially interesting as the broker has seen its own set of changes among its management team take place.
On the subject of innovation, Forex Magnates spoke to Trevor Young, Director of Product Management at OANDA, to learn more about the Chrome extension and the StockTwits mobile feature. Young explained that OANDA is “part of a beta rollout (with StockTwits), and the iPhone app was a trial.” He added that “feedback has been very good with a small group of vocal users.” He explained that currently the app is set up so users can select which currencies they want to receive tweets about and while the platform currently only supports receiving tweets, they may add a two-way feature for OANDA clients to be able to post on the network. Young added that applying StockTwits is part of their social media strategy where the broker is “using Twitter to engage customers and they have had success with campaigns on the platform.”
In regards to the Chrome extension and whether clients using social sites like StockTwits or Twitter was a factor in creating a method for traders to open positions without leaving their web page, Trevor Young answered, “it is a factor, but at the end of the day, we wanted to make it easier for clients to access the Trading Platform in a way that fits them best.”
Looking ahead, it will be interesting to see which company is first to copy either of these innovations from OANDA. Specifically, with social trading becoming a larger trend within the trading world, partnering with a network like StockTwits and adding their stream to trading platforms seems like an ideal solution for brokers, as it would embed real time trading ideas near a client’s Buy/Sell buttons. On this note, Howard Lindzon, Founder of StockTwits, told us that the network is open to collaborating with brokers in a similar way that it does with Yahoo Finance and TradingView and offers an open API to facilitate such partnerships.
Cheetah Fund Investors Lose $9 Million in Alleged Fraudulent Scheme
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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