VARIANSE, a London-headquartered forex and CFDs broker, announced on Wednesday its partnership with Market EarlyBird, a company providing Twitter-based analysis of financial market products.
This will allow clients of the brokerage firm to download the plugin of EarlyBird’s Twitter service on the MetaTrader 4 trading platform.
Commenting on the partnership, VARIANSE UK CEO, Rohit Mirpuri said: “We are excited to partner with EarlyBird and be first to the market with a truly valuable Twitter service, which steps beyond generic platform news feeds that are of limited worth to the individual investor.”
Getting the Market Sentiment
Market EarlyBird uses a proprietary natural language processing engine and artificial intelligence algorithms to filter and analyze tweets on financial products. It provides an overall picture of the markets based on the social media sentiment of the retail and professional traders.
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The company’s analytics tools were already available to major investment banks and funds. But with the latest partnership, the tool will become accessible by retail traders as well.
“We know that retail traders have limited access to the rich and diverse range of news sources enjoyed by the banks and funds,” said Danny Watkins, CEO of Market EarlyBird. “VARIANSE’s integration of EarlyBird service helps to level the playing field, making its customers better informed and empowered to trade.”
VARIANSE is headquartered in London and operates within the country with a license from the Financial Conduct Authority (FCA). In addition, the broker offers services to wider global retail traders with its licenses from FSC in Mauritius and LFSA in Malaysia.
The integration came at a time when there is fierce competition going on between brokerage firms. While some are enhancing their services with technology integration and adding products, others are aggressively expanding their geographical footprint.