FXOptimax, a small broker based in New Zealand, just announced the launch of several interesting features. Most interesting of them all is its own light version of a social network called Pipsbook.
According to FXOptimax “Pipsbook is a social trading platform that enables all FXOptimax trader to be more profitable in forex market, by trading using more experienced trader’s market insight and knowledge. Using Pipsbook, you can follow any experienced traders you like, and copy their trades into your account automatically.”
As described in the latest Q42011 Forex Magnates Forex Industry Report this is a growing trend among brokers, especially smaller ones. Smaller brokers are trying to differentiate themselves in any way possible and adding your social network is certainly a great step in that direction.
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Forex social networks haven’t really picked up but what did pick up is the trade-following feature which is offered by just about them all – Currensee, eToro, FxStat, fxjunction/ibfxconnect and now pipsbook.
FXOptimax also launched its own PAMM system and plugged in into Zulutrade. To the best of my knowledge all of this is a work of just one skilled developer.