FXOptimax launches its own social network

FXOptimax, a small broker based in New Zealand, just announced the launch of several interesting features. Most interesting of them all is its own light version of a social network called Pipsbook.

According to FXOptimax "Pipsbook is a social Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term that enables all FXOptimax trader to be more profitable in 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 market, by trading using more experienced trader's market insight and knowledge. Using Pipsbook, you can follow any experienced traders you like, and copy their trades into your account automatically."

As described in the latest Q42011 Forex Magnates Forex Industry Report this is a growing trend among brokers, especially smaller ones. Smaller brokers are trying to differentiate themselves in any way possible and adding your social network is certainly a great step in that direction.

Forex social networks haven't really picked up but what did pick up is the trade-following feature which is offered by just about them all - Currensee, eToro, FxStat, fxjunction/ibfxconnect and now pipsbook.

FXOptimax also launched its own PAMM system and plugged in into Zulutrade. To the best of my knowledge all of this is a work of just one skilled developer.