MeetFX - a new forex social network

With all the buzz around Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term social networks at its peak (check out Currensee raising more and more cash) it's no wonder that we see various attempts at tackling this very interesting market segment. Currensee was the first, and is probably the largest (although absolutely speaking they are not so large yet), and MB Trading then launched their own version called MBT World (which I admit I still haven't properly reviewed and I owe this one to my readers) which is essentially the same.

Now we have another attempt from another angle and it's called MeetFX. At this point it's still in Beta so there isn't that much to see but the concept is interesting - it's a simplified version of a social network, in a way similar to Facebook, which was adapted to the Forex market.

MeetFX offers you everything you'd expect from such a network: status updates, twitter posting, chat rooms, Instant Messaging, premium subscriptions, classifieds and more.

"MeetFX brings forex traders together, by providing a new live platform to share information and ideas, on multiple levels. Our competitive advantage over static social sites, is the Gallant VPS integration; allowing live access to one's trading account. Any customer of any of the brokerages that use the Gallant VPS, automatically has access to their account, over MeetFX. In addition, the shopping cart function allows 3rd party developers and vendors the ability to showcase their products. Users of MeetFX can then purchase the products, and have them Installed Automatically on one's VPS account. This eliminates any and all installation issues users used to have, when trying to install new EA's, indicators, etc." said Simon Grunfeld, CTO of Gallant VPS.

The project is a join project of Gallant VPS and a third party software development company. The biggest advantage of MeetFX on any other social platform is the ability for developers to promote their EAs, strategies and indicators. EA developers can have their EAs installed automatically on their hosted Metatrader VPS (it's for free if you are using Gallant VPS clients such as forex.com, iamfx, gallantfx, boston technologies, simplypips, etc). This also means that if you'd like a seamless and a simplified installation of an EA or a strategy on your MT4 - MeetFX does that for you.

MeetFX's business model is premium accounts (for those who'd like to register as forex professionals, or put an advertisement on the site, or have their blog published) and a forex shop where anyone can sell their products to the wide audience.

As I said, MeetFX tackles this market from a different angle and it would be interesting to see how this concept evolves with time.