The founders of Trading 212 have announced the launch of a social network for trading under the company name TradeBird LLC based in New York, revealed earlier today as a free mobile and web app with a community-inspired theme.
Finance Magnates reported when Trading 212’s parent operator, Avus Capital, landed in the U.K. with FCA authorization, after the Bulgaria-based brokerage operator was launched.
A review of the Trading 212 website shows that Tradebird is ‘directly integrated’ with the broker’s offering while the new launch may be positioned for other brokers as well, or for the time being positioned in an effort to increase brand awareness of the new product.
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“We built Tradebird with the idea of bringing focus, simplicity and social interaction to the way traders get information and make decisions,” said Ivan Ashminov, CEO and founder of Tradebird, commenting in the company’s announcement. “We realized that they don’t need more information – they need the right information in a live, clean feed. And for most traders, the best sources are usually locked up in expensive subscriptions. Tradebird avoids this problem by surfacing real, market-driving information and relying on community crowdsourcing.”
Tradebird has more than 3,000 daily posts currently, according to the company, and uses #hastags and $cashtags, which are used to filter the feed for related tags, increasingly common on social media platforms like FaceBook and LinkedIn. Tradebird creates lists of tagged trading instruments that users can also subscribe to. The charting capabilities are powered by ProQuant, including analytic tools. Finance Magnates reached out to a company spokesperson around the time of publication with questions regarding the launch as the company is preparing feedback about the news.
The charting capabilities of the new product are powered by ProQuant, including available analytic tools, and the solution is available as an embeddable widget. Finance Magnates reached out to a company spokesperson around the time of publication and received comments afterwards from Mr. Ashminov, who explained the reason for the launch in the US: “We believe the US market represents a crucial stepping stone for any successful company in the financial space. Specifically, the US has the largest concentration of traders and provides a highly untapped market in need of timely, trustworthy insights.”
Mr. Ashimnov added regarding the platform: “Not only is Tradebird not exclusive to Trading 212, but given the amount of interest from third-parties to integrate into their products, we are already working on APIs to make these types of collaborations possible,” and in response to other questions explained: “Tradebird is broker neutral and free of any advertising or promotion.”