Echofin Launches a Slack-Style Chat App for Trading Teams

A new messaging service was launched in January hoping to create a standard in trading communications the same way Slack has done for managing programming teams. Echofin is a platform for creating teams or communities where users can discuss trading strategies, market conditions and the like.

With a host of third party integrations, plugins and widgets, Echofin aims to bring everyday traders more functionality than professionals get from Symphony, Bloomberg Messaging or Thomson Reuters’ Eikon Messenger. These already include a Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term calendar from FXStreet, charts from TradingView, StockTwits, DataFlash by NewsImpact, Bloomberg TV and MT4 webtrader integration.

Beyond the free option open for everyone, Echofin also creates a new way for financial educators/gurus to monetize their work. The platform enables them to broadcast webinars in real-time with audio, video or even just live feeds of their desktop screens. The system offers built-in billing functionality, and the educators set the price point, trial, billing interval and can even create coupons. Echofin keeps a 10% fee from the educator's revenue to pay for the service.

Finance Magnates has learned that the service is already being worked on with a Forex Broker Forex Broker In the forex space, a broker is any company that can provide traders with access to a platform that permits the buying and selling of multiple currencies.The retail forex industry has grown over the past two decades to include every major jurisdiction, which in turn has necessitated new regulatory oversight. Relative to the institutional sector, retail brokers are rather small portion of the greater forex market. However, traders can rely on brokers for leveraged trading in a 24-hour-a-day marke In the forex space, a broker is any company that can provide traders with access to a platform that permits the buying and selling of multiple currencies.The retail forex industry has grown over the past two decades to include every major jurisdiction, which in turn has necessitated new regulatory oversight. Relative to the institutional sector, retail brokers are rather small portion of the greater forex market. However, traders can rely on brokers for leveraged trading in a 24-hour-a-day marke Read this Term that wants to build a 'trading academy' using the Echofin platform. The company has also drawn the attention of a few other brokers and is discussing potential ways for cooperation excluding the usual IB/affiliation partnership. Lastly, it reports that it has already reached 10,000 subscribed users.

George Lipordezis, CEO of Echofin LLC, commented: "Echofin aims to establish a vibrant financial ecosystem where traders, educators, brokers and other market participants come together to constitute thriving communities."