Leading Forex social network adds leading institutional trader as Trade Leader.
Forex social network Currensee announced today the addition of Adantia LLC, a leading volatility-driven Forex trading firm, as one of its Trade Leaders. Currensee, along with several other competitors has been offering users/clients the opportunity to follow vetted "expert traders" in making FX trades, in return for a percentage of profits, to be split between Currensee and the Trade Leader.
The interesting piece of news in the press release, as is often the case, came in the fine print – that in the last six months of 2011 Currensee's Trade Leaders average a 31% return (based on average cumulative monthly performance of the Trade Leaders during the period). Not bad at all. We have not seen any such average / aggregate performance figures for any of Currensee's competitors, such as FXSTAT and FX Junction.
While we recently wrote that overall, Forex social networks are having a tough time gaining momentum and an even tougher time of turning growing membership into revenues and profits, we have to assume that if Currensee can keep delivering performance like that, it is only a matter of time until success in investing client funds turns into bottom-line success for Currensee.