E*Trade launches its own social network

E*Trade is a very large stock broker and it follows the steps of Zecco who launched a similar community a year or two ago. I imagine Forex brokers won't take too long to follow. For now only eToro is a Forex Broker with its own community - OpenBook.

Online brokerage E*Trade has launched a social networking platform that helps investors connect with each other, share ideas and discuss strategies. When they sign up to the E*Trade Community members have to create profiles and can choose to share recent trading activity, account performance and investment objectives. They can also follow like-minded investors. In addition participants are able to gauge real-time sentiment on the markets, view the most actively-traded and widely held stocks and view top performing community members.

Michael Curcio, president, E*Trade Securities, says: "Social networking is playing an increasing role in how individual investors plan their finances. The E*Trade Community is an extension of our educational offering for customers looking to supplement what they learn from more traditional sources."