Tradeo Introduces Social Trading on Its Forex Trading Platform

By ForexBrokers · Filed Under News Leave a Comment 

Social networking is omnipresent these days and it was only a matter of time before it was introduced on trading platforms also.

Tradeo now holds the reputation of being the first online trading platform that can boast of social trading. It is not surprising that Tradeo has jumped on the social networking bandwagon before the others. This platform was the one that had allowed users access to real time trading data of the other investors and traders and base their decisions on the trends that they could notice in other people’s trading. In the month of March, the company had got an excess $15 million funding, taking the net funding to $33.9 million.

Twitter Like Model Introduced

In the earlier model that Tradeo had implemented, traders could avail the general trends and other trading data from the general trading community. However, the new model is completely different. Rather than getting data from everyone who is on the market, you can follow the trader that you prefer, or even friends and relatives. This will give you data about the people who you choose to follow and that makes the data on hand more refined and streamlined. You can also get in touch with people you know and people you befriend for professional trading advice and any other assistance you require.

Is it The Logical Move?

Some traditionalists have argued that this is not the way trading should be performed and that it will adversely affect the way trading is carried out in the near future. However, the response from the trading community has been far from that and they have enthusiastically adopted the new systems. Some have opinioned that it has helped them make more profits than earlier.

Lack of Tradeo in US Might Open Doors for Other Start-Ups

Since Tradeo is not yet completely launched in the United States, the social trading platform is not available for US traders. This is a golden opportunity for some start-ups to design and launch their own systems. Tradeo might be affected when they officially launch their platform there but it remains to be seen if their reputation will take them through those expected tough times.

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