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RETAIL e-FX CLIENT<br />
Hayel Abu-Hamdan<br />
“There is no denying the growing popularity of <strong>com</strong>munities like<br />
Facebook, LinkedIn and eBay, and to stay out of <strong>com</strong>munities is<br />
arguably a riskier option than engaging with them,”<br />
also offer a great deal of educations and tools for our<br />
<strong>com</strong>munity members who are seeking help in their<br />
trading. This is the biggest difference with us versus<br />
and Facebook or Linkedin,” explains Durazo.<br />
She continues: “Some of the main forex tools and<br />
features these networks provide are for a worldwide<br />
<strong>com</strong>munity of FX trader's from all backgrounds and<br />
all walks of life trading this industry. FX trading is<br />
decentralised and can be done from just about<br />
anywhere these days, so in order for traders to be able<br />
to <strong>com</strong>municate with each other and exchange ideas,<br />
analysis, and tips, these <strong>com</strong>munities function to<br />
facilitate this. Of course, a well rounded, exceptional<br />
network is going to provide much more than this,<br />
including education, analysis by teams of FX experts,<br />
and a way to specifically connect with other trader's<br />
who trade similar to their own style of trading.”<br />
Big boys wel<strong>com</strong>e<br />
As well as retail traders, MoneyTec has a good<br />
number of institutional traders on board. Cottrell says<br />
that while there is a lot less of them than the armies<br />
of retail traders out there, they are getting just as<br />
much out of the networking site as the retail<br />
fraternity, making their own groups and also mixing<br />
in with the retail traders. “I believe networking is a<br />
very useful tool for any kind of trader,” Cottrell states.<br />
“Yet as forex evolves, the rest of the world is really<br />
seeing retail traders falling out of the woodwork,<br />
126 | january 2010 e-FOREX<br />
particularly in Asia and India right now. At the end of<br />
the day, you can put as much software on your site as<br />
you want, but it’s the <strong>com</strong>munity that will make it<br />
evolve.”<br />
While Durazo <strong>com</strong>ments: “Whether you are that<br />
individual trader who trades from their home<br />
<strong>com</strong>puter, or the institutional trader, trading as a<br />
group, everyone should consider joining a network.<br />
The more trading ideas and analysis shared, the better<br />
everyone's trading will be.”<br />
Future<br />
On how social networking is likely to evolve, Durazo<br />
says she believes investment opportunities will begin<br />
to open up worldwide. “There has also been a great<br />
deal of talk about a global currency,” she adds. “I<br />
think social networking is beginning to close the<br />
global gap, and with new amazing translation tools,<br />
we’re beginning to see that language is no longer a<br />
barrier. My belief is that video will begin to have a<br />
stronger presence in social networking sites.”<br />
Lemont adds: “<strong>Forex</strong> trading is a global industry and<br />
we have traders from all corners of the world and<br />
almost every country in the world. We see this trend<br />
continuing. Social networking is evolving into social<br />
trading. The internet and Web 2.0 technology provide<br />
a platform for people to share their experiences and<br />
their real trades from anywhere in the world.”<br />
Kellie Durazo<br />
“Whether you are that individual trader who trades from their<br />
home <strong>com</strong>puter, or the institutional trader, trading as a group,<br />
everyone should consider joining a network.”
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