Social Trading Moves Markets.com Launches its Own Social Trading Tool
Powered by Leverate
These days, Forex social networks have become extremely popular among enthusiastic traders. No surprise then as Cyprus based Markets.com launched its own Social Trading Tool powered by Leverate. Following the success of firms such as eToro with its own FX social networks, which has resulted in greatly increased traffic to their websites (and ultimately, increased trading activity) other FX firms are globally looking at adding their own proprietary networks, as well as linking into third party independent FX social networks such as Currensee, Myfxbook and FX Junction and Oanda FXUnity.
Markets.com’s social trading platform is powered by Sirix – an evolution in retail trading that features built-in sophisticated social trading capabilities. Sirix is a comprehensive and fully-branded trader designed from the ground up for brokerages. Markets.com will be the first brokerage to launch Sirix.
The forex industry that accounts for around 60% of the total volume of capital markets has been busy innovating and taking social media very seriously. Markets.com is the lastest player moving to social media FX. With the adoption of Sirix retail trading software available on web, mobile and tablet platforms Markets.com choose the Israel based company Leverate (that has been working diligently in the profitable niche of Metatrader).
Leverate is partly owned by Saxo Bank and has relations with a lot of Forex key players. Sirix is fully integrated with each broker’s trading platform (MT4), brokerage website, CRM and additional backend systems. All trading platforms are streamlined and fully synchronized, resulting in zero latency. Sirix is user friendly and features a shared wallet and unified login details across all platforms: one username and one password.
Sirix is an integral component of LXSuite, Leverate’s complete package of private label brokerage solutions. Leverate also offers Sirix as a standalone product. Sirix is fully branded according to each broker’s look and feel, complete with logo, colours and other customization.
“Sirix answers to the new social trading paradigm,” says Co-CEO Ran Strauss. “Social trading is a must-have feature for every brokerage. Although still in its inception, social trading will only continue to grow rapidly – eventually rendering those brokerages that lack social features obsolete.” Sirix brings the social trading evolution to brokerages everywhere. An intrinsic part of the Sirix trading environment, social trading is an invaluable marketing tool for brokerages and provides great opportunities for traders. Traders may follow and copy other users and learn from more experienced traders. Sirix social engages traders and increases conversion and brand loyalty to the brokerages. Leverate is pre-releasing Sirix Social with key introductory features. Full social functionality will soon be available following community growth.
Cyprus-based retail FX broker Markets.com joins now the disruptive social revolution in FX, by launching its own social trading tool. This for sure will highlight its aggressive strategy to grow its markets and move to the next level of creating a bigger brand and getting more share of the profitable Forex retail industry. With this move and platform based on Leverate’s Sirix FX social platform it seems as though, Markets.com is heading in the social business direction whilst taking a low-key approach to social trading, basically allowing traders to view and copy other traders’ transactions, without adding a full social network experience (chatting, forums, etc.). That of course could be added later.
Forex traders are using social media more often, especially Twitter and Facebook, and are taking social sentiment quite seriously. It will be interesting to see what other big players Saxo Bank, IG Markets, GFT Markets, Citi Index will be doing social media wise? So far, the only big global player to incorporate social media trading significantly has been Oanda.
These are definitely challenging and exciting times. With additional entrants eyeing this space, what are the future social media moves inside the general capital markets industry?
Dinis Guarda is an author, academic, influencer, serial entrepreneur and leader in 4IR, AI, Fintech, digital transformation and Blockchain. With over two decades of experience in international business, C level positions and digital transformation, Dinis has worked with new tech, cryptocurrencies, drive ICOs, regulation, compliance, legal international processes, and has created a bank, and been involved in the inception of some of the top 100 digital currencies.
Dinis has created various companies such as Ztudium tech platform a digital and blockchain startup that created the software Blockimpact (sold to Glance Technologies Inc) and founder and publisher of intelligenthq.com, hedgethink.com, fashionabc.org and tradersdna.com. Dinis is also the co-founder of techabc and citiesabc, a digital transformation platform to empower, guide and index cities through 4IR based technologies like blockchain, AI, IoT, etc.
He has been working with the likes of UN / UNITAR, UNESCO, European Space Agency, Davos WEF, Philips, Saxo Bank, Mastercard, Barclays and governments all over the world.
He has been a guest lecturer at Copenhagen Business School, Group INSEEC/Monaco University, where he coordinates executive Masters and MBAs.
As an author, Dinis Guarda published the book 4IR: AI, Blockchain, FinTech, IoT, Reinventing a Nation in 2019. His upcoming book, titled 4IR Magna Carta Cities ABC: A tech AI blockchain 4IR Smart Cities Data Research Charter of Liberties for our humanity is due to be published in 2020.
He is ranked as one of the most influential people in Blockchain in the world by Right Relevance as well as being listed in Cointelegraph’s Top People In Blockchain and Rise Global’s The Artificial Intelligence Power 100. He was also listed as one of the 100 B2B Thought Leaders and Influencers to Follow in 2020 by Thinkers360.