News site Forex Magnates brings to light another entrant in the social trading arena called ForexGlobes. I signed up to see if this site has anything new to offer in the increasingly-competitive social trading world. Unfortunately, it’s still in beta, so some critical components appeared to be missing (or at least, I could not find them): it doesn’t appear that signal providers will be compensated for their signals, so sharing trades is purely for bragging rights at this stage. In addition, while ForexGlobes claims to be partnered with several forex brokers, I could not for the life of me figure out how to link my live account. In addition, it has a strong resemblance to Tradeo in look and feel, so the jury is still out as to how ForexGlobes intends to differentiate itself. In any case, here’s the bottom line from Forex Magnates:
MIT will run an experiment to see if social media investing improves performance. It’s doing so by giving $100 each to 10,000 Asians to trade forex on eToro by following high-performing traders and copying their trades.
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