Saxo Bank has just launched another forex portal called www.forextrading.com. The folks at Saxo are doing a pretty decent job at launching new websites and portals though I have reservations regarding Saxo’s decentralized marketing effort here.
Saxo only recently re-launched its tradingfloor.com website, of which I was critical at the time, which appeals to the more sophisticated audience judging by the professional commentary and tools.
New Saxo’s project called forextrading.com seems to focus on the more novice trader (hence the simple SEO name). While it doesn’t really provide anything useful it does provide some educational material and basic forex tools. The whole purpose of the website is to attract novice traders and send them to sign up with Saxo. Simple and very cost effective.
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Regardless of all this, we are in the marketing era and the best marketer (not the best broker) wins – note FXCM. Therefore Saxo’s website is probably going to be very successful – not because of the content but because of the name. Just Google “forex trading” and see this site appear first. Novice traders Google these keywords and they don’t really need sophisticated content, so why bother. More experienced traders already know where to go to and no new website is going to easily change that, so again, why bother.
All in all, as simplistic as this site is, it is still nicely designed and well positioned for SEO which will surely end up in Saxo getting quite a few more new traders pretty cheaply.
Update: Francesc was kind enough to point that it’s actually a re-launch not a totally new launch. Cheers.