RETAIL e-FX CLIENT
Trade leader selection process
“A major distinguishing factor between the networks is the selection process used for choosing a trade leader,” says Javier Paz, a senior analyst at Aite Group. He explains that Currensee has a unique approach to social investing, highlighting its trade leader selection process which requires a minimum of three straight months profitable trading on a live account. When Paz’s recent research was published, Currensee had 16 Trade Leaders generating 20 different strategies, which averaged as a group a return of 33.8 per cent in the period from January 2011 to June 2011.
“Our Trade Leaders are hand-selected for the program based on their approach to money management and risk management. Te discipline to set a strategy, stick to it and refine it over time is what makes them successful and our commitment to providing our investors with experienced traders is what makes the Currensee offering unique,” says Dave Lemont, chief executive officer of Currensee.
Collective2 (C2)
accounts it acquired in all of 2010. ZuluTrade’s mirror- trading approach lets users manually set their own risk parameters or use a default mode that automatically assigns a trade size to a signal, which does not have to match the level of risk taken by the expert trader.
C2 publishes all the trades made on the platform, and documents which are made from live brokerage accounts. Tis transparency is combined with user reviews with each service – which are not always complimentary. One disgruntled user of a trade user account accused him of leaving his computer unattended and failing to exit trades. But Klein believes the transparency of the service will enable its trading stars to rise to the top and build up substantial followings that are based on a successful track record. “As an introducing broker, we have done all the expensive regulatory, legal and compliance work and built a platform for people that do not have the wherewithal to do this themselves. We enable people to prove that they are good traders and join the financial world,” says Klein. “In the past, if you were a smart guy in a basement in Moscow who came up with a really great trading algorithm and you did not have capital or go to Harvard, Yale or MIT, you were not going to get acclaim as a trader and end up getting hired by Goldman Sachs. You were not even going to be able to start a little hedge fund.”
Models for engaging users Dave Lemont
“Our Trade Leaders are hand-selected for the program based on their approach to money management and risk management.”
174 | october 2011 e-FOREX
Leon Yohai, founder and chief executive officer of ZuluTrade says unlike other social networks, ZuluTrade is an “ecosystem in the Forex community” connecting about 100 broker-dealers and more than 58,000 thousand signal provider strategies to its auto- trade trade service. “Socially, people talk about it. Friends will join as a result,” says Yohai. Meanwhile, Zecco, one of the leading value-players in the online
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