It is not often in the Forex industry that there is a product that is completely unique and different. We know there are Forex brokers, some with better offers than others, but at the end of the day, they are all pretty much the same.
That applies to signal providers, Forex courses, and Auto Traders as well.
Currensee decided to think out of the box a little and in an industry that generally does not utilize social tools to their full potential, they have reinvented the wheel with a full fledged Forex social network. Currensee's Web-based social platform offers traders the ability to see their friends' trades, communicate with them in various ways including instant message, Facebook, and email.
Currensee's platform and concept actually solves many of the problems traders encounter on a daily basis. In a market that is filled with people claiming they are experts and trying to sell you their strategy or product, Currensee offers them a way to back up their claims with money. The trader has full transparency of their friends' trades, enabling them to see who the real experts are and to separate them from the rest.
With the entire online community talking about real time communication, Currensee made use of this new trend with the ability to see who is online at any given time and communicate with that person, while also viewing other traders' input on various pairs and trading strategies. The platform itself is Web based, which means traders can access their Currensee account on any computer with no need to download anything.
Once you log in to the platform, you are automatically greeted by the Trading Dashboard, which includes tons of useful information. You are able to see the latest trades opened by your Currensee friends, including pair, the user, the strategy used, the time it was opened, the enter price, Take Profit, and Stop Loss. Of course, this information is only available if that user wants it to be, so no issues of confidentiality.
In addition, the sums being traded are not available, since some people might see that as private and sensitive information. The Trading Dashboard also offers lots of other interesting and crucial information for the trader, such as an economic calendar, a chart of volatility history, and a user generated forum on the hot topics being discussed.
The next dashboard is the Research Dashboard, which offers the trader all the information they would need to trade the market including breaking news, an RSS reader, and much more. The entire interface is built from widgets so they can be moved around and customized to your liking. The next tab is the Fun/Community dashboard, which is where Currensee excels.
There is an integrated Facebook application, access to all the popular instant messaging protocols, so even if your trader friend is not a member of Currensee and can therefore not chat with you within the platform, you can still ask them for advice and input before opening a trade. Very useful feature. That sums up the Dashboards tab, which is only the beginning.
The next tab is the Community tab, which enables you to find and connect with relevant traders and add them to your contacts. The Community tab includes an advanced search feature allowing you to find traders based on various criteria such as their trading strategies, approach to analysis, currencies they trade, as well as their location or trading experience.
Moving along, the next tab is the Strategies tab, in which you can find available trading strategies based on their characteristics and results. You have the ability to see basic information about the various strategies or click Show Detail, which brings up a very detailed display of all that strategy's information. Being the social network it is, the next tab is the Profile tab, in which you can build and customize your Currensee profile and how others view it.
Finally, the last tab is the marketplace, in which Currensee users have access to many Forex products starting from courses, eBooks, and the way to widgets and newsletters. What is great about this platform is that it is fully customizable with the ability to add or remove widgets as you see fit. This is a tool that will help any Forex trader, whether it is to receive advice from more experienced traders, or simply to see what others are doing.
In this review, I have literally covered the tip of the iceberg since the Curensee platform includes so much more than is mentioned here. The team at Currensee have managed to create a complex and feature-packed Forex social platform, and somehow they did it with a user friendly and intuitive interface, something that is by no means an easy task.
In addition, from my limited time with the Currensee team, it seems they are very interested in feedback, which will help them improve this system and make it the best it could be in a market with no competition. They displayed a very high level of professionalism and creativity, both in their platform and they way they conduct themselves. This is a real breakthrough in the Forex world, and it would not surprise me if other companies jumped on the social bandwagon as a result of this great product.
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