The new platform was designed to effectively allow for lightning quick trading, tapping into users affinity for social media. The platform allows for the trading of currency five pairs: EUR/USD, USD/JPY, GBP/USD, AUD/USD and USD/CAD, affording clients the opportunity to trade order denominations ranging from 1K-100K.
Hassle-Free Payment Options
One of the hallmarks of the new platform is the ease in which traders can effectively utilize live trading accounts simply by linking with Facebook. In addition, monetary transactions are presently handled via PayPal with other payment ventures, possibly Bitcoin, in developmental stages for further maneuverability.
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According to Alexander Temerev, CEO and Founder of EntryForex, in an exclusive interview with Forex Magnates on the motivation for the launch, “While working in the FX industry, I became quite frustrated with MT4/MT5 near-monopoly for retail trading. I though that MetaTrader terminals are extremely over-engineered, and while they are more than capable of providing excellent service and great set of features for Forex trading enthusiasts, I decided to build something for a wider audience. This is my vision of an entry-level trading platform, immediately accessible to everyone willing to learn and trying to have a taste what trading is like, with limited risks. I delivered on this vision, and I am working hard to improve it.”
Social Networking Driving Innovation
Users requiring more extensive specifications will also be directed to affiliate partners, heralding an extant potential. While social media and trading have been used extensively as of late, the merging of the two in this fashion is truly a unique development, specifically coupled with hassle free trading times and the lack of registration woes that can traditionally turn off would-be traders.
“The targeted audience are first-time traders looking for a simple platform to start working with. Some of them will grow into serious trading enthusiasts, and while this excitement lasts, we plan to offer them fantastic tools to share and fuel their passion (weekly leaderboard for competition-driven people, “trade of the day” results sharing for socially-minded etc.) Facebook is already giving us immense advantage of removing the hard steps (registration, filling the profile etc.), and we are fully determined to use the enormous potential of social networks by 100%,” added Temerev.