Information and data are essential for traders, timely and accurate information make a difference in making or losing. Euroinvestor, a Danish financial information and news portal, has launched Cockpit – a research and education service for traders which is fully customisable, cost-effective and social.
Cockpit will be posing challenges for costly data providers like Esignal and Morningstar. It provides access to accurate financial data free of cost. The price of data has been a barrier for many start-up and low-budget financial trading floors. Cockpit will position itself as a useful alternative on London and New York trading desks.
Cockpit is a brand new financial news service that leverages off the current EuroInvestor format, it has a modern look and feel, is user friendly and social.
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The trend in community and social network based softwares has been popular amongst Forex and equity traders. Cockpit allows you to inform, share and let traders know what you are trading, how you are analysing and provides a forum for general market discussion. “The world is going social and we feel that these sophisticated tools and features are ideal for traders, we feel this will spread across the social media channels like a viral” said Jeff Saul CEO of EuroInvestor.
Cockpit streams in live data (live FX rates, equities 15 minute delayed) for traders to analyse using sophisticated charting tools and indicators. These can then be shared amongst users within the community and also non-users via email.
Cockpit aims to bring ease and simplicity to users, it is a web 2.0 cloud-based application.Traders simply need an internet connection, desktop, tablet or phone. “We want to be the Facebook of Finance” adds Jeff.
Forexmagnates team were invited to an exclusive private event where Jeff was demonstrating the platform and providing background on the concept. After analysing a chart, applying indicators and oscillators a trader can easily share the chart on any social media platform, they can also send the chart via email.
Cockpit is designed for all users in the market, live exchange feeds can be added for additional charges (depends on exchange) however not as extravagant as other data providers.