The management of Myfxbook.com, which offers a forex portfolio tracking service and a social forex community, is making major changes to its business approach. The company has ended its 11-year long partnership agreement with ForexStreet and is now focusing on building an in-house marketing team.
Commenting on the prospect, Myfxbook CEO Alex Rekun, said: “As part of our growth strategy, we have formed a new in-house marketing department to execute marketing strategies and tactics that drive growth and take care of all advertising aspects of our customers.”
A Leading FX Industry Player
Founded in 2009, Myfxbook has made quite a name in the industry over the years. It is an online automated analytical tool for forex trading and a social forex community enabling its users to track, compare, analyze and share their trading activity, currently supporting over 100 brokers and most popular platforms.
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The platform has turned itself into a single third-party platform for forex market research and analysis, and it also enables traders to manage trading accounts with multiple brokers.
Additionally, Myfxbook gained a Cyprus Investment Firm (CIF) license at the end of 2014 to make its services regulated, but the company ended up renouncing its license within a couple of years as it was not used within twelve months from the date of its issue.
The analytics platform works with both brokers and traders and the recent boom in retail trading must have spiked its demand as well. Furthermore, Rekun revealed that the company is expanding its marketing and will focus on widening its offerings to the brokers.