Will Leverate?€™s Sirix Trader Rock Social Forex Trading World?

The launch of the MT4 platform on July 1, 2005 revolutionized the Forex world by providing a software solution that could be branded by Forex brokers to serve their specific needs. Since then, dozens of software companies have created complementary solutions, none of which could be fully integrated into the MT4 platform or branded completely by the broker. This is about to change, however, with the launch of Sirix by Leverate, a social Forex trading solution that will be available shortly and looks likely to take the Forex market by force.

As of this writing, there are few Forex brokers that offer full social trading solutions. With the exception of eToro, a brokerage whose entire premise is built upon the concept of social trading and idea sharing, and Currensee, whose social platform can be used by brokers but cannot be branded by the broker, there are few full social Forex trading options. Sirix, however, is a new technology whose primary function will be to allow Forex brokers to integrate social trading into their existing MT4 platforms in a fully branded and integrated way. Rumblings in the Forex world indicate that Markets.com, already a top Forex broker in its own right, will be the first to offer Sirix Trader social trading to its clients. The launch date for this venture has not yet been published. Still, we expect to see Sirix Trader being offered by dozens of Forex brokers by the start of 2013, if not sooner. After all, most Forex brokers are eager to provide services that will appeal to a wider range of traders, and social trading is certainly proving to be the wave of the future – and a very helpful way for new traders to continue making money in the Forex market.

Have you engaged in social trading? Where?

The DailyForex.com team is comprised of analysts and researchers from around the world who watch the market throughout the day to provide you with unique perspectives and helpful analysis that can help improve your Forex trading.