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Facebook – which Forex firms use it best?

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eToro is the runaway leader in FX social networking.

Facebook logoIn honour of Facebook's IPO late last week, which valued Facebook at over $100 billion, we thought it might be a good time to look at which Forex brokerage firms are best at using Facebook as a marketing and communications tools.

The following chart shows the number of "Likes" to the respective Facebook pages of some of the leading Forex firms (as of May 17, 2012):

FX firms on Facebook

Clearly, mid-sized firm eToro is head-and-shoulders ahead of the crowd, getting more Likes (90,473) than all the other firms combined in our survey. Those familiar with the FX industry should not be surprised, as eToro has positioned itself as a leader in FX social networking, and was the first Forex brokerage to launch its own in-house social network, eToro OpenBook. eToro's social network focus is also reflected in the popularity of its website -- as we wrote back in March eToro has the lowest Alexa rating of any FX brokerage, ranking as the 1,340th most popular website worldwide.

We expect to continue to see more and more FX firms get into social networking -- making more of a concerted effort to communicate and market on Facebook and Twitter, getting more involved with independent FX social networks such as Currensee, FX Junction and Tradeo, or licensing software to offer in-house social activities for their clients, such as Leverate's Sirix social platform which we wrote about after it was introduced last week.

For more on Forex social networks, and the global retail FX industry, see the LeapRate Dow Jones Forex Industry Report.

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  • Thursday, 07 June 2012

    Etoro top Social networker?

    Just because Etoro has more Facebook likes means nothing.

    For all you know they could have just bought facebook likes.
    Facebook likes are cheap (around $5 for 300 likes).

  • Gerald Segal Thursday, 07 June 2012

    RE:Etoro top Social networker?

    Good point. We agree, you cannot look at just that one stat alone, but we do believe it is meaningful in this instance. In the article we refer to other data, such as eToro's Alexa ranking. You can also see their Twitter-follower numbers, and come to the same conclusion.

  • Monday, 15 July 2013

    the most doesnt mean the best

    I am missing info about ROI and CTR,the most likes doesnt mean automatically the best usage of facebook.

  • Gerald Segal Monday, 15 July 2013

    RE:the most doesnt mean the best

    That's right Ladislav, bigger and more ain't always better. But it certainly is a good indication of who's using social media properly in the FX world. Perhaps we'll follow up with a piece on ROI from social investing in forex as well. Stay tuned...

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