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Screenshot of a breaking news alert e-mail from Q2 2017
Cyprus-based retail FX broker Markets.com has joined the social revolution in FX, by launching its own social trading tool, based on Leverate’s Sirix FX social platform. It seems as though Markets.com is taking a more 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 could of course be added later.
We first reported back in May that Markets.com was going to become the first Sirix FX customer for Leverate.
The success of firms such as eToro in launching their own FX social networks, which has resulted in greatly increased traffic to their websites (and ultimately, increased trading activity) is leading other FX firms globally to look at adding their own proprietary networks, as well as linking into third party independent FX social networks such as Currensee and FX Junction.
For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.