The Forex world has been abuzz lately with the advent of mobile trading platforms and social trading opportunities which seem to be cropping up regularly in the hopes of tempting traders who are looking for a unique trading experience. But with all of the new offerings available, it's hard to believe that there could be so much difference between the options, that each social trading platform is truly exceptional. Still, the top Forex brokers are raising impressive funds to support their social trading projects, indicating that social Forex trading may in fact be the wave of the future. eToro, one of the top social trading outfits, has just raised $15 million, while Currensee has raised $2 million. We're excited to see what these veteran social platforms will be offering in the future – but until then, we're shifting our focus onto 2 new offerings that may be of interest.
OANDA, an established Forex broker with regulation and offices worldwide, has just launched fxUnity, a social trading platform that is available for mobile traders and desktop traders looking to share ideas with other traders specifically in the spot Forex arena. In this social platform, leverage is limited to protect traders from some of the risks associated with Forex trading. The goal of the platform is not just for traders to follow others, but to learn about the process so that they become stronger traders on their own.
Traders looking for an entirely new social trading experience can also check out Tradeo, a totally new company (launched this month) that offers a cloud-based social trading network that integrates chat rooms, expert brokers and real-time market analysis. The goal of Tradeo is to pull in verified trader data and actions so that others can get an honest, well-rounded perspective of live trading activities.
Have you tried social Forex trading yet?