TD Ameritrade integrates a social media network

Continuing the wave of social networks for traders TD Ameritrade, a large equities broker who bought thinkorswim a while ago, is now integrating access to MyTrade a free social media website.

While not directly Forex related this is still an interesting piece of news. First of all it’s another broker offering a type of a social platform and secondly it offers the same business model which Currensee is now pursuing with its Trade Leaders program: the ability to ‘follow’ traders.

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The design itself is pretty simplistic, similarly to meetfx which is both good and bad: it’s simple enough to start using without any tutorial necessary and it displays some helpful information however it could use a serious GUI overhaul as well as addition of some more sophisticated features than just the list of similar companies to the one you preview.

Below is a screenshot from the platform itself. Thinking about this in depth can’t help but raise a thought that perhaps the likes of Currensee should start thinking in the equities, instead of forex, direction. Especially when thinking of the upcoming CFTC regulations which should make life really hard for Forex IBs such as Currensee.