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“Circuit Breakers” Reached on OANDA as Currensee Launches New Risk Feature
- As copy-trading volumes has quadrupled from December to April, OANDA’s first upgrade to its newly bought platform forces limitations on trading leaders in order to provide "pre and post-trade protection" to followers
by
Ron Finberg
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Exclusive: OANDA’s CEO Eger Wants to 'Disrupt' Forex Market with Innovative Technology
- Forex Magnates interviews the former head of PayPal's North American business, previously CEO of Citibank's International Cards business, with an exclusive insight into his new role as CEO of a global retail Forex broker.
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myfxbook launches a spreads comparison engine
- We reported about this trend almost two years ago here as we've noticed an influx of sites with various spread comparison engines. One of the first to enter the market was FX Intelligence which managed to place itself on several broker websites like MB Trading's and others. The conclusion two years ago was this:
FX Junction launches AutoCopy - the latest social network to do so
- FX Junction is a relatively fresh entrant into the forex social space but it already made an impact by white labeling its service to Interbank FX - the first forex broker who leased this technology from a third part provider (unlike eToro for instance who indeed was the first broker with such technology, though its own). Social networks for now haven't lived up to high expectations some had - they haven't become the mass aggregators of forex traders.
Forex Factory launches Trades - trades publishing functionality
- Looks like Forex Factory is itching closer to a social forex network model. Not too long ago FF launched Trade Explorer - a trading performance analysis service and now it enhances it by releasing Trades - a new product that tells you who’s buying, who’s selling, and basically who's doing what.
Currensee makes a foray into institutional forex market, partners with HedgeCo
- Currensee which until now was a hub for retail forex traders looking to follow credible traders has now expanded into the institutional forex market. The move makes sense for Currensee for two reasons: first is that it still has not gained much traction in the retail forex market, the other is that Currensee has institutional investors which were probably instrumental in making this deal with HedgeCo happening. Institutional volumes are typically much higher than the retail ones and hence may be much more profitable for Currensee.
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AvaFX partners with ayondo - a new signal following platform
- It seems forex signal/trade following is the biggest trend now with just about everybody offering their own version of this - Currensee, Tradency, Zulutrade, FxStat, fxjunction, Collective2, eToro and dozens of other smaller services. Each of these providers has its own platform with or without social aspects, some offer signal trading, others actual traders following. Some platforms are very simple, others are advanced are professional. Today we see AvaFX (one of the fastest growing fx brokers) partnering with ayondo- a relatively unknown/new signal following service. ayondo seems to be a German venture and has also partnered with UK based ActivTrades.
FxStat launches Managedbook - advanced Market Leaders portfolio management
- Managedbook is an innovative service that will allow you to create your own currency portfolio by following as many Market Leaders as you want and choosing the exact currency pairs you want to invest in. The system works by Market Leaders providing signals once they buy or sell a currency, signals that are immediately and automatically executed into their followers’ account (similar to FxStat Tradebook).
FXstat and Myfxbook update their platforms with emphasis on personalization
- Though it's hard to classify what forex social network is (or what a social network in general is) we can all agree that sites like FXstat, Currensee, myfxbook, FxJunction and others do bring traders closer together. We've discussed this issue and presented an extensive overview of the 'social' forex market in the Q2 2011 Forex Magnates Retail Industry Report.
Interbank FX becomes first U.S. broker to offer social network to clients
- I just received this press release from Interbank FX announcing the launch of IBFXConnect, their social trading network. I see forex social networks as the next battle ground for forex brokers to win over traders from other brokers. Congratulations to Interbank FX for recognizing this trend ahead of most other U.S. firms. I believe that we will see a shift in client profitability numbers to the upside as more and more traders start using the Copy Trade functionality (where new traders can copy the strategies of experienced traders).
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