Regardless of what many think of social trading, there is no denying it is one of the fastest growing products in the Forex space. The product appeals to both brokers and traders. Traders enjoy social and copy trading as it provides users a network to learn about trading from and a place to throw off ideas and gain feedback. For brokers, the product provides their customers a 24/5 engaging trading environment. This leads to more educated clients and higher overall volumes being traded.
Entering the growing field is ForexGlobes. The startup is an independent, broker agnostic social trading network. According to its founder, Eliav Kordova, ForexGlobes differentiates itself from the competition due to its technological advancements. Kordova explained that unlike existing cross broker solutions, ForexGlobes is server based and installed directly on the partnered broker’s hardware. The advantage is greater connectivity between the broker’s servers and the ForexGlobes network which leads to low latency, minimal Slippage, and fewer failed trades.
Being server based also means users of the ForexGlobes network need to have accounts with partner brokers. While this limits ForexGlobe’s target audience, Kordova explained that “we wanted to limit the network to brokers that we have a strong relationship with to ensure the best possible trading connection and executions.”
Kordova added that another advantage of ForexGlobes is the simple interface. Rather than needing to move around to different pages to access features, ForexGlobes provides key social actions on its main dashboard page. On this, Kordova said “It’s true social trading, with all the different feeds fused into one interface.” The product also provides the ability to access accounts from multiple brokers within the single interface.
Like other social networks, ForexGlobes home dashboard is the social hub of the platform. Traders see a real time feed stream of activity from all users and those of their network. The main page also includes an order entry interface with real time pricing streamed from their broker. On the main social stream, users can click on each trader to see their results and decide whether to follow them or copy their trades. One cool feature is that users can elect to only copy trades in specific currencies. As such, a portfolio could be created to copy traders who excel in different asset classes.
In addition to the main dashboard, on separate pages, the platform provides economic news, trading headlines, and charts that are powered by TradingView. The goal of these add-ons is to provide traders with a fully powered social and trading environment that can be used in replace of a traditional platforms.
Having played around with ForexGlobes, I found the product fairly easy to understand. Having reviewed and being a fan of TradingView charts, their appearance on ForexGlobes was a pleasant surprise. Another item I liked was the ability to filter copy trades based on currency. I would have liked more customization on the home dashboard. For example, the ability to click on a symbol from the quote box and see the chart popup (Kordova explained that this feature will be enabled in March).
Like all social networks, the fate of ForexGlobes will depend on its network. Regardless of the product, if a social network is lightly populated, even diehard fans will leave as the site’s value diminishes. Therefore, it’s too early to tell how successful ForexGlobes will be. However, in its early phase, it appears to have found a steady balance between providing the social characteristics traders’ desire, without sacrificing on execution.
The product is currently in beta form where new users can join and demo the social trading network, with live trading set to be added from ForexGlobes partner brokers soon.
Regardless of what many think of social trading, there is no denying it is one of the fastest growing products in the Forex space. The product appeals to both brokers and traders. Traders enjoy social and copy trading as it provides users a network to learn about trading from and a place to throw off ideas and gain feedback. For brokers, the product provides their customers a 24/5 engaging trading environment. This leads to more educated clients and higher overall volumes being traded.
Entering the growing field is ForexGlobes. The startup is an independent, broker agnostic social trading network. According to its founder, Eliav Kordova, ForexGlobes differentiates itself from the competition due to its technological advancements. Kordova explained that unlike existing cross broker solutions, ForexGlobes is server based and installed directly on the partnered broker’s hardware. The advantage is greater connectivity between the broker’s servers and the ForexGlobes network which leads to low latency, minimal Slippage, and fewer failed trades.
Being server based also means users of the ForexGlobes network need to have accounts with partner brokers. While this limits ForexGlobe’s target audience, Kordova explained that “we wanted to limit the network to brokers that we have a strong relationship with to ensure the best possible trading connection and executions.”
Kordova added that another advantage of ForexGlobes is the simple interface. Rather than needing to move around to different pages to access features, ForexGlobes provides key social actions on its main dashboard page. On this, Kordova said “It’s true social trading, with all the different feeds fused into one interface.” The product also provides the ability to access accounts from multiple brokers within the single interface.
Like other social networks, ForexGlobes home dashboard is the social hub of the platform. Traders see a real time feed stream of activity from all users and those of their network. The main page also includes an order entry interface with real time pricing streamed from their broker. On the main social stream, users can click on each trader to see their results and decide whether to follow them or copy their trades. One cool feature is that users can elect to only copy trades in specific currencies. As such, a portfolio could be created to copy traders who excel in different asset classes.
In addition to the main dashboard, on separate pages, the platform provides economic news, trading headlines, and charts that are powered by TradingView. The goal of these add-ons is to provide traders with a fully powered social and trading environment that can be used in replace of a traditional platforms.
Having played around with ForexGlobes, I found the product fairly easy to understand. Having reviewed and being a fan of TradingView charts, their appearance on ForexGlobes was a pleasant surprise. Another item I liked was the ability to filter copy trades based on currency. I would have liked more customization on the home dashboard. For example, the ability to click on a symbol from the quote box and see the chart popup (Kordova explained that this feature will be enabled in March).
Like all social networks, the fate of ForexGlobes will depend on its network. Regardless of the product, if a social network is lightly populated, even diehard fans will leave as the site’s value diminishes. Therefore, it’s too early to tell how successful ForexGlobes will be. However, in its early phase, it appears to have found a steady balance between providing the social characteristics traders’ desire, without sacrificing on execution.
The product is currently in beta form where new users can join and demo the social trading network, with live trading set to be added from ForexGlobes partner brokers soon.
StoneX’s Q2 FX and CFDs Revenue Jumps despite Trading Volume Drop
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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