The Forex Industry has and continues to undergo fundamental changes in 2012. With significant market instability since the recession of 2008+, traders have been forced to become more aware of current affairs and events. Whilst at the same time more astute in understanding the benefits and features of the growing number of Forex Brokers.
2012 is set to be cemented as the year where Social & Apps become one in all verticals. In Forex this is especially pertinent since traditionally interaction and engagement between traders was a taboo subject. Today we see the openness and willingness of traders to share strategies and participate in open discussion on events that can lead to smart trading.
One area where recent technical developments have matured is Forex Signals for long time, signals were frowned upon as untrustworthy and created by opportunists aiming to make their profit from selling a product while their customers lose their money on the markets.
In 2012 we’re seeing a natural move from traditional signal providers being replaced by user generated and transparent social forex signals . A great example of this is the recent (re)launch of ForexGlobes, which pits itself as the first true “Social Forex Signal Platform” The first generation of their platform soft launched last year although after positive feedback was taken off-line while fundamental re-development took place. This month it re-emerged as a total social experience. Signals are only provided by the community, and the platform is open to all traders regardless of level or current choice of broker. The intention appears to be 100% transparence coupled with 100% independence from trading activity.
As a truly social platform the success of individuals is dependent upon the success of the group. Every trader is able to publish signals and a ‘reputation’ score is continuously recalculated allowing new members to easily see which trader should be followed and trades copied for the best chance of success.
Forex trading has become an honest and accepted investment strategy and tool for both institutional and private investors. However it has taken some time for the market to mature and companies to emerge willing and able to provide traders with real tools to help them make money. With social platforms entering the market the face of Forex has changed irrevocably, the power and demand for transparency is with the client.
For the first time there now exists a trading signals community. Engagement, exchange and discussion of Forex trading strategies can now be leveraged to allow you to realize the opportunities claimed by brokers.
Tags: Business, Commodities and Futures, Foreign exchange market, forex, forex globes, ForexSignals, Investing, social forex signals, Trade, Trader (finance)
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